The 3 Stages Of Business Growth Every Online Entrepreneur Must Know
In this post, I'II quickly go through the main stages of business growth which every online entrepreneur MUST know.
Stay tuned!
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1. Solopreneur
I guess, most people who're reading this post are probably still at this stage.
This is whereby you're just starting out & you're still doing everything on your own.
At this stage, you’ll still be configuring every aspect of your business i.e. from advertising, dealing with suppliers, service delivery, customer support, all sorts of staff.
At this stage, you might not have the money to hire employees – since your business will still be struggling financially.
Thus, you might need to grind through this phase – otherwise, no one will do the work for you i.e. if you don't do it.
2. Building Systems
The second stage of business growth is building systems.
This is whereby you realise that the workload is increasing on your part – thus, you decide to invest in tools & softwares which helps to automate some parts of your business.
For example, let's say that you're offering one on one tutorials to students, you might realise that it'll be difficult to serve more than a certain number of clients i.e. due to limited human capacity.
For this reason, you might decide to create a course & you sell it through a platform like Teachable.
In this case, you wont have to worry too much about working with customers one on one – since the software simplifies the work for you.
The third stage of business growth is outsourcing.
After you automate some things using tools & softwares, you might realise that there’s still some tasks which are difficult to automate.
For example, if you have a blog that needs content, it's difficult to automate content writing – though there's some garbage AI softwares which claims to do this task for you – lol😝.
But truth be told, content should be written by a real human i.e. if you want it to rank on Google – and you might decide to outsource the content from a freelance writer.
When you've reached this stage, you wont have to stress🤯 about small issues – since you can easily outsource these tasks to someone else & free up your time for other more important things.
Wrapping Up
So that's pretty much the 3 main stages of business growth which every online entrepreneur must know.
Let me know in the comments section if you have any more questions.
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