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Business Maturity
Stages of Maturity
Solopreneu
r
Transition
Enterprise
Solopreneur
• I own a business
• I make all the decisions
• I am the business
• I do it all
• It’s all me.
Challenges of being a
Solopreneur
• It’s all you!
• You make all the decisions
• You bring in all the customers
• You handle all aspects of the business
• Characteristics
• No Plans - Run by seat of your pants (not sure
how, I just will)
• Sheer determination of will for success
Written Plans
Steps to Grow from a
Solopreneur
Hire an employee / independent
Contractor (your first)
• What position is that?
• What would they do?
• What would you pay them?
• What is the milestone for hiring them?
Solopreneur
Transition
Enterprise
Steps to Grow from
Solopreneur
Learn to manage
• Management is a learned skill
• Classes (Careertrack, National, Skillpath)
• Delegate
Solopreneur
Transition
Enterprise
Steps to Grow from
Solopreneur
Learn to delegate
• 4 levels of delegation
• 1 – Do just what I say
• 2 – Do a small task and report back
• 3 – Do a larger task and report back
• 4 – Just do it
• “Inspect what you expect”
• Training vs Counseling
Solopreneur
Transition
Enterprise
Steps to Grow from
Solopreneur
• Plan for business development
• How are you going to grow?
Solopreneur
Transition
Enterprise
Business Model Canvas
Transitional Stages
• Transitioning from just you to you and your team
• “I own it, do what I say”
• I hire, I fire
• I control the processes
• I control most decisions
• Typical size: $250,000 - $1M sales
Challenges of the
Transition Stage
• You are responsible for everything (still)
• Learning to manage employees
• Hiring the right employees
• Managing the regulations of employees
• Creating systems for quality control
• Delegating to the appropriate level.
Steps to Grow from
Transition
• Hire management
• Empower management
• Create systems that do not require you
• SOP’s
• Plan for a time the business will run
without you
Solopreneur
Transition
Enterprise
Enterprise
• You have built a business that runs without you.
• I own it and work on it
• “I have people that do that”
• I manage the managers
• I do strategy and make only the key decisions
• I am removed from the day to day operations
• It’s all about the business (not you)
• Typical Size: $750,000+
Advantages of Enterprises
• You are responsible for Strategy (long
term goal setting, not day to day
operations)
• Infrastructure creates more stability
for business and finances
• Less risky
• Financially rewarding
• Others feel better working with you
• You have more control
• Easier to exit
Case Study – Crane Paper
Company
• Family business started in 1801
• Supplies US treasury paper security since
1879 (also for European Union)
• 6th descendant of founder
• International competition asked: “what is
their success plan?”
• They almost lost the account due to NO
Succession plan!
Exit planning
• Start with 10 years out as your
estimated exit
• What is your 10 year revenue goal?
• What will your 10 year business
look like?
• How many employees?
• What management will you need?
• What systems will you need?
• Who will you serve?
• Review your Canvas
Exit planning
• What is your 5 year revenue goal?
• What is your 2 year revenue goal?
Planning your Strategy
Based on your current stage, what are 3 things you need to
do, learn or set up to take the next step? (Write it down)
Questions
Kimberly Mullins
International Entrepreneur

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Business Maturity

  • 3. Solopreneur • I own a business • I make all the decisions • I am the business • I do it all • It’s all me.
  • 4. Challenges of being a Solopreneur • It’s all you! • You make all the decisions • You bring in all the customers • You handle all aspects of the business • Characteristics • No Plans - Run by seat of your pants (not sure how, I just will) • Sheer determination of will for success
  • 6. Steps to Grow from a Solopreneur Hire an employee / independent Contractor (your first) • What position is that? • What would they do? • What would you pay them? • What is the milestone for hiring them? Solopreneur Transition Enterprise
  • 7. Steps to Grow from Solopreneur Learn to manage • Management is a learned skill • Classes (Careertrack, National, Skillpath) • Delegate Solopreneur Transition Enterprise
  • 8. Steps to Grow from Solopreneur Learn to delegate • 4 levels of delegation • 1 – Do just what I say • 2 – Do a small task and report back • 3 – Do a larger task and report back • 4 – Just do it • “Inspect what you expect” • Training vs Counseling Solopreneur Transition Enterprise
  • 9. Steps to Grow from Solopreneur • Plan for business development • How are you going to grow? Solopreneur Transition Enterprise
  • 11. Transitional Stages • Transitioning from just you to you and your team • “I own it, do what I say” • I hire, I fire • I control the processes • I control most decisions • Typical size: $250,000 - $1M sales
  • 12. Challenges of the Transition Stage • You are responsible for everything (still) • Learning to manage employees • Hiring the right employees • Managing the regulations of employees • Creating systems for quality control • Delegating to the appropriate level.
  • 13. Steps to Grow from Transition • Hire management • Empower management • Create systems that do not require you • SOP’s • Plan for a time the business will run without you Solopreneur Transition Enterprise
  • 14. Enterprise • You have built a business that runs without you. • I own it and work on it • “I have people that do that” • I manage the managers • I do strategy and make only the key decisions • I am removed from the day to day operations • It’s all about the business (not you) • Typical Size: $750,000+
  • 15. Advantages of Enterprises • You are responsible for Strategy (long term goal setting, not day to day operations) • Infrastructure creates more stability for business and finances • Less risky • Financially rewarding • Others feel better working with you • You have more control • Easier to exit
  • 16. Case Study – Crane Paper Company • Family business started in 1801 • Supplies US treasury paper security since 1879 (also for European Union) • 6th descendant of founder • International competition asked: “what is their success plan?” • They almost lost the account due to NO Succession plan!
  • 17. Exit planning • Start with 10 years out as your estimated exit • What is your 10 year revenue goal? • What will your 10 year business look like? • How many employees? • What management will you need? • What systems will you need? • Who will you serve? • Review your Canvas
  • 18. Exit planning • What is your 5 year revenue goal? • What is your 2 year revenue goal?
  • 19. Planning your Strategy Based on your current stage, what are 3 things you need to do, learn or set up to take the next step? (Write it down)