The 7 Crisis Points Every Business Encounters and How to Survive Them – Phase 2

This blog is a product of Kevin Lovewell’s journey from Carl Gould’s book “Seven Stages of Business Success.”

Phase 2 – Specialty

Phase two represents the emergence of a relationship with the market place. The personal drive of the owner has created a specialty field around himself, with recognition as the subject matter expert, forming a core influence as the source of enquiry – even if unacknowledged. The owner has negotiated for themselves a job in this phase.

When planning, the owner needs to still concentrate on direction, but now early stress on self-control and management factors are emerging. The business plan should concentrate on connecting the owner firstly as the expert in his or her own marketplace.
It is important to nurture brand, but also to start to seek out other subject matter experts of other fields to help. At this level, owners start to ask questions of people like external accountants (sometimes a better choice would be an advisory board – one member only being the accountant).

Income remains tight; however the owner is under the mistaken belief that all the income is theirs. Reality is harsh however. The thrill of having a few bucks in the bank to spend at last also means statutory obligations exist and bills are in danger of being overlooked. Growth is as a consequence of Direction and Control.

Obviously I have adapted Carl Gould’s underlying directions with knowledge gained in my travels. I still encourage people to read Carl’s book and there are a few others like Alexander Osterwalder’s 2009 book called “Business Model Generation.” Looking forward to your comments and going a bit further in my next blog. ~ Kevin

If you need more information, please talk to me:

Kevin Lovewell

0401 308 385

References:

Some interesting texts the author recommends are:

Gerber, M. (1998) The E-Myth manager: Whey Management Doesn’t work and what to do about it, Harper Business, New York

Gould, C. (2010) the seven stages of small business success, Keynote Publishing, Charleston

Greiner, Larry E., Evolution and revolution as organisations grow (1972) HBR

Reynolds, S. (2010) Why People Fail: The sixteen obstacles to success and how you can overcome them, Penguin Group, Sydney

Tan, J., Fischer, E., Mitchell, R., & Phan, P. (2009) “At the centre of the Action: Innovation and technology strategy and research in the small business setting” Journal of Small Business Management 47(3):233-262

Disclaimer: The views expressed in this article are those of the Writer. The information is not meant to be exhaustive. Readers are responsible for making their own inquiries and assessments as to the truth and accuracy of all the information given and should seek advice from professionals. No liability (in contract, tort or otherwise) will be accepted for any loss or damage incurred as a result of reliance upon any material contained in this publication or any information or advice provided in this publication or incorporated in it.

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Kevin Lovewell

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Graham Long

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