Insight to Life in the Business World – Seasonal Cycles of a Business Owner

Transition of a Business Owner
Transitional Life of a Business Owner

When starting a business an owner is exposed to ALL SORTS of new experiences and lessons.  Some are easier than others.  Though having been exposed to business, the perspective and experiences as a business owner is very enlightening and yet awkward.  Some experiences can make you feel naïve and maybe even foolish, but that is because the role of an owner exposes you to the hidden details that you never needed to know as an employee.  Now as an owner you are responsible for the whole business.  However, even the owner will need to turn to those with specific expertise, though you need to select those who are honest and stay informed regarding their area of responsibility.  This portion of your business ownership will surely be a big “growing/learning” period.  You might consider this period as the SPRING of Ownership.

By the SUMMER “years” of Ownership, you should feel more confident and have developed solid resources and a network of fellow business owners with whom you respect and share information.  This period of Ownership may be a longer time frame, as most successful owners are feeling more confident and have learned much about being an effective businessperson.  Still, you should also be open-minded and keep vigilant about learning of new practices and watching out for new business trends, noting the changes that occur and how to adapt.  During these years you should take time to re-evaluate your priorities, values, and goals.  As this season finalizes, plan for the distant future.

As you enter the FALL season of Ownership, chances are you have become comfortable in your role, however you have also become very aware of the ongoing changes in business and life, and that NO ONE should feel too comfortable as changes will come, and you need to stay current in the business world and always be open to learn new business tools, resources, and practices.  By this time you will probably have gone through more changes of your own business.  It is not uncommon to either add new services or businesses to your existing business or revamped your ownership all together.  Planning for the future should be a priority.

By the time you reach the WINTER season of Ownership, you should have your Exit Strategy in place and a Plan for what to do with your business, and what YOU want to do in this new Season.  Compass Career Management Solutions are Transition Experts:  Like the old slogan, “Be Prepared”.