Building a business is as much about your personal journey as it is making a profit. If your journey is anything like Tom’s, you’ve probably been through a few very distinct phases that have given you insight for creating a fulfilling, sustainable business.
Competency Phase: Building a Foundation
As an entrepreneur just starting out, your firm’s quality and reputation are all your responsibility—on top of all of the tasks you have to complete on a day-to-day basis. This phase is necessary to build your credibility, but you need support in order to grow sustainably.
Work-Life Balance Phase: Finding Your Support
As your business expands, you need to be able to delegate some of your work to another person (or people) so you can balance your personal and professional life. At this stage, you will benefit from strategic hires that maintain your level of quality while also freeing up some of your personal time.
Work-Life Blended Phase: Introducing More Flexibility
This is where you introduce a bit more flexibility into your routine. A work-life blended approach is where you add flexibility to your life to make sure you are able to enjoy time with your family and friends, while still meeting the demands of your business.
Entertainment Phase: Finding Your Joy
Eventually, as a business owner, you will reach a phase where your business becomes a source of personal fulfillment, not just professional. Aligning your business model with your passions allows you to create a business that succeeds and also brings you joy.
My feelings about my business changed, you know, when I initially, um, you know, wore myself out with the first iteration of the business model. And that’s when, um, I kind of had reached the end of what I would call the competency phase of the business, where I did everything. I made sure everything was right.
It was all about the competency of the firm. Uh, and then I, I could no longer do everything myself. It was time to start bringing on staff. Um, I think I moved into what I would call a work life balance phase. Um, and then, of course, that, for, uh, for me at least, that turned into a blended work life balance.
This is more me. Working at eight o’clock at night, so you can go see a grandkids soccer game or something, you know. Morning, but, uh, or grandparents day like tomorrow. It’s, uh, but, um, so I think of it as work life blended. Um, and, um, and, and then. You know, I’ve, I’ve moved even past that into a phase that I would call pure entertainment.
Um, so, but the business model has continued to morph and, um, and I, do it to really make myself, uh, happy. And so, uh, so I, and I think this is just crucial, honestly, for business owners who have been, who are out of that little micro, micro business mode. They’ve been successful in, in, you know, their, their, how they’re into the, the ongoing years of the business.
Um, You have to try to figure out a way to actually make it entertainment for yourself. There is no place I would rather be, uh, Monday through Friday, business hours, than here at the firm, practicing my profession. And with the way I have organized the business and it has been a, it’s a game changer. I don’t think there’s many small business owners who, who feel the way I do about my business.
I think it’s, it’s been an evolution. All the evolutions in the business model, um, have sort of got me there.
You know, it’s just crucial and, uh, and that’s going to allow me to continue to do it for decades into the future, you know, until I, my health really won’t allow me to do it.
