If you are an entre­pre­neur, have you ever found your­self just “Stay­ing Afloat”?  It isn’t a fun wor­ry­ing about how to pay your bills week to week.  These are the days of a lot of hope and hard work, with less mon­ey to show for it than you would make sling­ing burg­ers at McDon­alds.

For those that per­se­vere, there is a new stage, “Com­fort­able”.  You are sleep­ing bet­ter at night, you’ve got a good team help­ing you and a steady stream of busi­ness. Cash flow is bet­ter and you are begin­ning to make some decent mon­ey.  But you are one blink away from going back to “Stay­ing Afloat”.  One sig­nif­i­cant cus­tomer, one key employ­ee or one key ven­dor can knock a hole in your ship that cre­ates an all hands on deck emer­gency.

Many busi­ness own­ers find being “Com­fort­able” works for them and choose to make their busi­ness work at this lev­el.

For a vari­ety of rea­sons, some of us, in order to feel pros­per­ous, want to “Break Out” and reach the “High Poten­tial, High Per­former” busi­ness stage.  Pas­sion, ambi­tion or wealth may be your dri­ver, but regard­less of why, mak­ing this leap is a big chal­lenge.

The lev­el of com­plex­i­ty, and skill need­ed in man­age­ment, finance, mar­ket­ing and more must accel­er­ate dra­mat­i­cal­ly to sup­port our upward move­ment.

One of the most over­looked areas that has to grow is finance and account­ing.  Often seen as an over­head item, busi­ness own­ers often focus on min­i­miz­ing the expense of finance and account­ing rather than mak­ing it a way to add val­ue to the busi­ness.  Entre­pre­neurs often lack of an under­stand­ing of the need nor the know-how to acquire the tal­ent to imple­ment the kind of sophis­ti­cat­ed sys­tems required for a busi­ness to reach its high poten­tial.

 

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