Entrepreneurship In The 21st Century

Year Three - Becoming an Expert

Congratulations on becoming an adult business owner! Clients you worked with in year one and two are referring business to you. You realize how powerful referrals are and you work on developing a distinct referral strategy.

You've invested in additional education and certification in your field. This gives you credibility and allows you to be more selective in choosing your clients. You no longer have to take the clients that give you headaches and don't pay their bills. People are coming to you with questions because they recognize that you have the expertise to provide the answers. Your close ratio has improved significantly because the referrals you receive are already pre-sold on your services. This means you don't have to work as hard as you did in the past. You've got more time for yourself, more time to live your life.

By now you've built network of contacts and you've established yourself as an entrepreneur in the business community. The relationships you worked so hard to build are beginning to provide a return on investment. You've identified the networking groups that yield the best results, and you've let others fall by the wayside.

You are now making more revenue and you are excited about the possibilities you envisioned since day one. Suddenly there's more money for extras. The old worn out office desk has out lived out its usefulness and you begin to shop around for something more suitable. You decide to invest in new technology and systems that you'll need to be more efficient.

Year Four - Reaping the Rewards

You are now a mature business owner and a master-gardener. Your many vines have ripened with age and are producing hoards of beautiful blooms that reach geographical areas you never imagined. You need only to fertilize and water the vines occasionally to keep them healthy and happy.

By this time you have figured out how to take your company to the next level. You've created a virtual business and a team of experts to guide you: Employees or independent contractors, Attorneys, Accountants, Business Coaches, Mentors, Financial Advisors, Graphic Designers, Writers, and anyone else you may need to help build your wealth. You realize that you don't have to do everything yourself. There are others out there who specialize in what you need and they can easily be on your team. All you have to do ask them.

Business comes to you easily and frequently. You've developed a reputation as a specialist in a specific area by leveraging the power of niche marketing. Your referral partners know when to send you business. You receive new client inquires almost daily and you've learned to clone yourself and refer business to others on your team.

Your new business comes from referrals, the internet, and networking. You write about your specialty, you speak to groups with confidence, and you are well known in the community.

Conclusion:

Your four-year "overnight success" was a long road to travel. You learned that you need the support of your spouse, friends, and family to get you through each start up phase. Going forward you may need the support of a coach or a mentor - someone to hold you accountable for your key success actions. This point is critical. It's focused action that gets results, not rhetoric or vision.

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Suzanne Muusers is a Business Coach and Business Expert based in Scottsdale, Arizona and is the creator of the 2 Page Mini Business Plan for Entrepreneurs. She is a credentialed member of the International Coach Federation and works exclusively with entrepreneurs and financial advisors who want to leave behind their lives as business workers to become business owners earning six figures and above annually. For entrepreneurial tips and how to's see her blog http://www.theProsperousEntrepreneur.com