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STAGE FOUR: THE ACCELERATION STAGE

 
Inspired by Randy Gerber's first book, The Integrated Entrepreneur: Achieving Happiness in Relationships, Business & Life, we are highlighting the five stages of business success first-generation entrepreneurs go through, with a five-part blog series designed to help you thrive in all your business adventures.
 
In this fourth part of the series, we highlight the next stage of business success: the Acceleration Stage.
 
WHAT IS THE ACCELERATION STAGE?
 
By the time entrepreneurs reach the fourth stage, they have identified how to scale their business profitably and healthfully and are seeing returns on their previous investments.
 
While in the Light at the End of the Tunnel stage you may have used the success stories of others (and a lot of faith!) to motivate you to keep growing your business, you are now energized by the visible changes and progress you are making.
 
You can begin to plan to make investments in people, equipment, capital expenses, time, and processes to grow the business more rapidly. Put simply: your relationship with your business has improved and it is clearly moving forward.
 
WHAT CAN I EXPECT IN THE ACCELERATION STAGE?
 
Entrepreneurs in this stage begin to build their leadership terms, expand their benefits program, and develop robust employee-employer relationships. Entrepreneurs in the Acceleration Stage are continuing to master stress management, integration and not letting the pressures of the business derail them personally. They are getting better at sustaining positive energy and keeping their spouses and families happy.
 
HOW CAN I CONTINUE TO SUCCEED AS A LEADER DURING THE ACCELERATION STAGE?
 
In Stage 3 we talked about the importance of beginning to work "on" your business, rather than "in" your business. This transition from employee owner to investor owner begins during the Acceleration Stage and continues through Stage 5: The Sustainable Stage.
 
As the business moves into the Acceleration Stage, entrepreneurs need to spend more of their time problem solving, writing business plans, and hiring managers to take over sales and operations.
 
Though it's hard to shed the employee owner responsibilities, doing so is essential to allow the business to assume more risk and be insulated from mistakes. Risks don't go away as the business moves forward. Entrepreneurs in this stage are just more aware of the risks and have a better understanding of the ones that matter.
 
To move onto Stage Five, innovation must be the fabric of a business's culture. Innovation, in and of itself, is both a risk and an opportunity.
 
The Acceleration Stage is also the time when entrepreneurs need to consider bringing in professional management. Professional managers are experienced managers from outside your own company who have proven abilities in managing operations or subject expertise. They aren't necessarily entrepreneurs, but they have a lot of experience and know how to grow a business, giving you the opportunity to manifest some of your larger scale goals.
 
Dying to know what other opportunities await you in Stage 5: The Sustainable Stage? Stay tuned for the final blog in our series on Stage 5 and learn the rest of the tools you can use to make your business a success.
 
Have you reached the Acceleration Stage in your business? If so, what are your biggest challenges? Share with us on social!


INDEX
  • THE FIFTH STAGE OF BUSINESS SUCCESS: THE SUSTAINABLE STAGE
  • STAGE FOUR: THE ACCELERATION STAGE
  • THE THIRD STAGE OF BUSINESS SUCCESS: THE LIGHT AT THE END OF THE TUNNEL STAGE
  • THE SECOND STAGE OF BUSINESS SUCCESS: THE TRAPPED STAGE
  • THE FIRST STAGE OF BUSINESS SUCCESS: THE INTOXICATING STAGE
  • WHAT FREEDOM MEANS TO THE ENTREPRENEUR
  • GROWTH WITH PURPOSE DURING COVID-19: DON'T GROW FOR GROWTH'S SAKE
  • COVID-19 RESOURCE GUIDE
  • WHAT WE KNOW: RESTAURANT & BAR UPDATE
  • CONDUCTING BUSINESS IN THE MIDST OF THE COVID-19 OUTBREAK
  • 3 SCARY TRUTHS ABOUT BECOMING AN ENTREPRENEUR
  • Gerber Spotlight: How to Handle Naysayers in Your Business
  • SELF-CARE RESULTS IN TAKING BETTER CARE OF YOUR BUSINESS. HERE'S HOW.
  • NAVIGATING CIRCUMSTANCE AS AN ENTREPRENEUR TO BECOME A BETTER LEADER
  • A day in the life of Randy Gerber
  • HOW TO PROPERLY GUAGE EMPLOYEE PERFORMANCE
  • MUST-HAVE APPS FOR BUSINESS OWNERS
  • THE HAPPINESS FACTOR & WHY IT MATTERS TO EVERY ENTREPRENEUR
  • PEER TO PEER GROUPS, MENTORS, ADVISORS: HOW DO THEY RELATE?
  • WHY YOU SHOULD ''DATE'' YOUR PROFESSIONAL ADVISORS (LAWYER, ACCOUNTANT, ETC.) BEFORE COMMITTING
  • GERBER'S TOP FOUR FAVORITE BOOKS FOR ENTREPRENEURS
  • IMPROVED COMMUNICATION FROM PERSONALITY TESTS [AS SEEN ON INC.COM]
  • 5 THINGS EVERY ENTREPRENEUR NEEDS TO DO TO KICK OFF THE NEW YEAR ON A GOOD FOOT
  • GIFT GIVING FOR THE ENTREPRENEUR-THE ULTIMATE TOUGH PUTT
  • SHOULD I TREAT MY LEADERSHIP TEAM DIFFERENTLY FROM A COMPENSATION PERSPECTIVE?
  • RECAP: NAWBO CANDID CONVERSATION ''5 TIPS FOR BUILDING A BETTER BUSINESS''
  • ONCE YOU'VE CROSSED THE FINISH LINE... HOW DO YOU FIND YOUR NEXT ENTREPRENEURIAL INSPIRATION?
  • THE MYTH OF CORPORATE CULTURE DEBUNKED
  • Gerber, LLC Featured in Columbus CEO | Let's Talk Succession
  • Catered Communication Practices [as seen on Inc.com]
  • REFRESH WITH V POWER YOGA
  • COFFEE TALK WITH TOM
  • ROLLIN' WITH FUSIAN
  • DIVING INTO BUSINESS WITH A PARTNER, OR TWO
  • IS IT TOO EARLY FOR AN ADVISORY BOARD? THREE STEPS TO BUILDING THE BEST NETWORK OF BUSINESS MENTORS
  • SUCCESS STARTS WITH A PLAN | GET IT ON PAPER
  • WATCH OUT FOR THE REVENUE TRAP! BUSINESS GROWTH & QUALITY REVENUE
  • BEHIND BESA WITH MATT GOLDSTEIN
  • BESA ON 'GIVING BACK' AS A BUSY BUSINESS OWNER
  • GOAL SETTING AS AN ENTREPRENEUR
  • FIRST GENERATION ENTREPRENEURS & WHAT MATTERS MOST
  • THE ROADMAP TO ENTREPRENEURSHIP
  • WHY ASKING THE RIGHT QUESTIONS CAN MAKE A DIFFERENCE: A CAUTIONARY TALE
  • AND THE WINNER IS...
  • CAPITAL MARKETS REVIEW: Q2 2016
  • BREXIT | WHAT DOES GERBER THINK?
  • CAPITAL MARKETS REVIEW: Q1 2016
  • CAPITAL MARKETS REVIEW: Q4 2015
  • CAPITAL MARKETS REVIEW: Q3 2015
  • CAPITAL MARKETS REVIEW: Q2 2015
  • CAPITAL MARKETS REVIEW: Q1 2015
  • CAPITAL MARKETS REVIEW: Q4 2014
  • Gerber Hosts OppenheimerFunds Chief Economist
  • Gerber, LLC to Host Entrepreneur-Relationship Expert, Trisha Harp
  • 'Twitter for Dummies' Co-Author Shares Marketing Advice at Gerber
  • Nationally-Circulated REP. Magazine Coins Gerber, LLC ''Not Your Momma's Financial Advisor''
  • Gerber Featured in 'The Metropreneur Columbus'
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