The Business Lifecycle…


My wife and I are in awe and even humbled at times by our success. Our business ‘ secret “  has not been an advanced education. Actually it has often  been just the practical application of good old ‘common sense’. There is a proverb that we have set our minds to practice as well. “There is wisdom in counsel.” We realize that we can’t possibly have all the answers to bring about success. I cringe inside when I hear someone say their success is ‘self made’. The fact is, you would be nothing without the efforts of support staff, loyal customers, and people who just believe in you. When I have an idea or set out to begin a new endeavor, I always share my thoughts with several gifted people that I trust to give me their honest opinion. A few weeks ago I was having such a conversation with my attorney. He shared with me something in a way that has given me a new respect for business.

As those of you entrepreneurs are aware, in the forming of a new corporation, the government issues a number that is called and EIN number. This number gives a corporation an identity, just as a social security number does for a citizen. When this number has been issued, the business has been recognized as a living entity, just as like a real person. When a business ceases to exist, that same identification number signifies its demise. This business must submit to certain laws, and as well has been given certain rights. All of this really got my wheels to turning. In essence, a business is birthed by its parent visionary (the owner) , hopefully develops into health and success, or weakens to the point of resignation. The health of the business is also monitored by the government and often an intervention is required due to it having been taken advantage of or violated. Isn’t the resemblance ironic between a company and a citizen? Understanding this perspective should give you a new respect of your position as an owner or manager.

Upon forming a company, there should be an understanding that in its childhood and weakest stage it is going to require a lot of giving and nurturing-probably more that ever anticipated. If it is your desire to see the business grow into a success, you are going to have to support its development through changes, never opting to abandon, and provide the discipline it is going to require to succeed. I think many of us enter into entrepreneurship expecting immediate benefits that come later in the life of the business, after the sweat and tears.  Wouldn’t it be nice to give birth to a child and three months later he or she is cutting the lawn and doing the dishes?

Take some time to recognize what stage you feel you are in with your company. Are you bringing the discipline and respect that it needs in its current state? Sometimes a change of season may bring with it an unanticipated virus or setback that causes a company to require additional attention and nurturing. It may take some additional effort to get its pulse back up. It may require some leadership by example to get everyone back on the same page and working properly for its health and prosperity. Seek counsel and advice from people that have an understanding of where you are and can see you into your next stage of development. You dreamed your company into existence and it is your leadership and involvement that is going to see it into its best and strongest days to come. Consider this perspective and you are sure to see results.

Be blessed in your endeavors!