Chanie Gluck has launched and run two successful companies since 2002. She is passionate about mentoring other aspiring entrepreneurs and has created The Evolution Of An Entrepreneur for those looking for a roadmap of development.
1 – Solopreneur
The first phase is the solopreneur. This is an individual who is an expert at their job and sells their services to clients. They effectively own and operate their job outside the bounds of a company. While they may have greater aspirations, they are limited to what they themselves can do.
2 – Delegation
As the solopreneur grows their client base they come to the phase of delegation. They must learn to teach others and delegate day to day tasks. This is a phase where many people get stuck. It is hard to let go of something that you have spent so much time building. They key to this phase is getting out of your own way and trusting your ability to hire qualified employees.
3 – Systems & Processes
Once you have begun delegating and building a team, the next phase is the creation and documentation of systems and processes. There are lots of great software options that can help you with this phase. This phase often gets skipped by busy entrepreneurs and put off until they have a key employee quit. Everyone should be replaceable, and this means documenting and tracking what each person needs to accomplish. This also helps employees stay on track and understand your expectations.
4 – KPI’s
Phase four is the development and tracking of key performance indicators, (KPIs), which flows from phase 3’s documentation process. Each company needs their own clearly defined KPIs, which is a set of numbers that you need to understand how the company is doing without having to do any digging. From this larger view, the next step is drilling down into each position and creating one primary metric that is tied to each job. This gives your employees a very specific focus on what results you are looking for them to attain.
5 – Employee Retention
Once you have all of the building blocks in place the next challenge is finding and retaining talent, creating individualized scorecards for each employee, and holding frequent meetings with direct reports. It’s important to focus on company culture at this point and think about what kind of experience you are creating for your employees. Clear expectations create a positive work environment.
6 – Sales & Marketing Team
The next phase of the entrepreneur is creating a sales and marketing strategy, and building a strong team. This is the phase where you focus on who exactly your target market is, how you are going to reach them, and what your message to them will be. It’s important to create a positive relationship between the sales and marketing team and ensure there is fluid communication on both sides.
7 – Visionary – Integrator
In phase seven, the owner begins the transition from day to day operations to a visionary role. They have created a strong management team that is able to integrate and execute on their ideas. To learn more about the Integrator – Visionary role, read Rocket Fuel by Gino Wickman
8 – New products/services
The transition to visionary allows the owner time to think about and create additional product offerings and new services. They begin to take opportunities to upsell to current clients or develop new markets. It is difficult to allow for this level of creative freedom if you have not yet managed to effectively delegate or retain talent.
9 – Create meaning through work
The ninth phase is where the entrepreneur turns inward and begins to focus on self-actualization, clarity, and finding meaning through their business. They have succeeded in creating a functioning successful company and now they strive to make their life’s work move in a meaningful direction. Many get involved in charity and donate a portion of the businesses profits to causes that are important to them. Some focus on culture and create meaning for their employees. The companies that allow their employees to find meaning through work have an easier time finding and retaining employees that fit the company culture. Some entrepreneurs will mentor their employees or other business owners. They keep reading and working on themselves to be better leaders.