The Four Seasons of Business Growth – 3 of 5

TRANSCRIPT

Continuing in our conversation about understanding your business season, in this video we’re going to talk about the second of four business seasons, your summer or launch. As a business consultant there are three key indicators that let me know that an entrepreneur is ready to start a business. These indicators are passion, experience, and a unique methodology.

Now there’s a big difference between an idea and a passion. The problem with ideas is they come and go, you might do them, you might not. A passion is a lot more than that. The word passion actually comes from Latin pati which means to suffer. Do you love that idea so much that you’re willing to suffer for it?

The second ingredient in your launch or summer season is experience. There’s a great story about two wood cutters that have a competition to see which one can cut more wood. One of them is an old man, the other is a young man. At the end of the day they stack the two piles of trees together to see who was able to create more logs. The old man’s pile was three times larger than the young man’s pile, and the young man said, “How is this possible? “I’m stronger than you, I’m talented. “How did you get three times the amount of wood “while you were off taking breaks every hour?” And the old man said, “Oh, I wasn’t taking breaks, “I was sharpening my ax.” You can have all of the talent in the world but if you don’t have experience it’s very difficult to grow a business.

The final indicator that you’re ready to launch a business is what I call a unique methodology. In the education system we’re taught to have a great balance, you know? I need to get a B-plus average across all of these fields. In business, that’s not as important. What’s important is can I do one thing exceptionally well? And it’s those organizations that really create that unique methodology to do one thing exceptionally well that do great in our economy. Think about going into a Home Depot or a Lowe’s. When you go into one of those stores what’s interesting is they’re all set up pretty much the same. There’s an electrical aisle, there’s a plumbing aisle, there’s a lumber aisle, and even if I drive a hundred miles and go to a different Lowe’s or Home Depot they’re going to have basically the same format. Well what they’ve discovered is a great recipe to stock the shelves and to build their stores. When you’re launching your business, do you have a recipe that can be multiplied or recreated like a Home Depot or a Lowe’s?

If you have a passion to grow your idea into a business, and you also have the experience necessary to overcome obstacles and hurdles in running that business, and you have a unique methodology, a playbook, that can give you exceptional results, it’s pretty good indicator that you’re ready to launch a business.

In the next video we’re going to talk about leveraging or maximizing your business in the fall, or leverage, season. If you want to maximize your business launch check out Growability.net and get a copy of the Growability Workbook. This workbook is designed to help organizations grow leaders, and leaders grow organizations. While you’re there, check out the daily business question video blog where you can get answers to common and not-so-common business questions delivered directly to your email inbox.

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