Episode #17: The Seven Stages of Business Ownership Part II: The Big Mindset Shift

Last episode, we discussed the first four stages of the Seven Stages of Business Ownership and the treadmill effect that traps many entrepreneurs. Today, we’re exploring Stages Four through Seven, which give you real freedom IN your business, not from it. Will also reveal why almost all business owners get stuck in Stage Four and won't take the small, measured risks to get that freedom.

Everything rests on "The Big Mindset Shift", and when business owners make this shift, they invariably build a business that regularly gives them both time and money, and a life of significance.

• Stage Five: Success is the first Stage the produces time for the owner, not just money. It is the first Stage where we experience true freedom IN our businesses, by moving from producing to building simple processes that let others produce for us.
• Stage Six: Significance gives us abundant time and money from our businesses by focusing on training others to lead, and then leading THROUGH them. Stage Six is the second most dangerous Stage behind Stage Four, because we have a tendency to want to go play golf before our leaders are fully in trained and in charge.
• Stage Seven: Succession isn't about selling, but about becoming "The Myth", where your business runs smoothly under capable leaders, with you providing vision and occasional guidance, many times without any day to day involvement. When people build Stage Seven businesses, they never want to sell them.

Moving from Stage Four to Seven is all about The Big Mindset Shift, and a simple principle, "You get what you intend, not what you hope for."

 

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