Thank you to Annette Ferguson and the Uncover Wealth Radio podcast for the recent opportunity to discuss one of the challenges for many entrepreneurial business owners!
When looking at the statistics, there are two major “humps” to the survival of small entrepreneurial businesses. The first is simply making it through the first year or more – basically determining if you have a viable product or service and a market willing to pay for that product or service.
The second major hump typically occurs around the 5-year mark when you have had success with your business, but now you have hit the ceiling and are struggling to move forward. Often, for a visionary type personality, you struggle to deal with people issues, profitability issues and are generally unable to move the business forward. What was once your passion has now turned into work.
In this episode, Annette and Jeff talked about the challenges of this phase of business and how to rekindle the passion and excitement in your business while breaking through the ceiling and growing your business to the next level.