The Four Phases of Entrepreneurship – Where Are You?

I was recently at an event listening to an interview with an up and coming author. He described the bamboo tree. He shared that it is known to take 5 years to grow. However, on year 5 it breaks the surface and can reach heights of 90 feet tall within about 5 weeks. Weird, right? Something that feels slow to arrive, all of a sudden grows with urgency once it emerges. This author then made an analogy to entrepreneurship.

As an entrepreneur, you will experience what can feel like a drought. You can be working diligently, showing up daily and not seeing anything in return for all of that effort. You will look crazy to people watching you, because you continue to water what seems like dead ground. You may even lose respect from friends and family as you discuss your vision for yourself without any evidence to prove it true. You may come across as delusional because you will keep talking about something that feels like it may never happen or if you aren’t a talker, then you may keep working on it without producing much.

Entrepreneurship has levels to it. Specifically, I’ve noticed that there are four phases to the process: The start up, the investment, the return and then the growth – if you do it right. Sometimes we end up redoing certain phases or stuck in a loop and unable to get to the next level at all. This is almost always due to our own choices and poor decisions (nobody gets it right every single time) but the good news is, there is usually a new opportunity to make a different choice even if we messed it up in the past. So which phase of entrepreneurship do you think you’re in?

The Start Up

This is when you get that fire in your belly to start something. You may have a clear vision and you start moving toward it. You set up that website, create a logo, reserve some co-working space, order business cards… the easy stuff. Either way, you have begun to move in a direction and now you are starting to make your vision for yourself a reality. This is a fun and exciting stage!

The Investment

This is when you start really working and the classic equation for entrepreneurs is embarked upon.

BE CONSISTENT & PERSISTENT.

Yeah, it’s less of a mathematical equation and more of a statement but you get it. Each piece is equally as important as the other and these two things are what separate a perpetual solopreneur and an enterprise building entrepreneur. You must be consistent. Keep recording, or meeting, keep calling, and showing up, keep creating or emailing, keep writing, or whatever you need to do to plant the seeds of your business. This is the time when the bamboo tree is taking root. This is that five years that you can’t see anything but things are happening underground. Roots are growing, reaching down (not up) and taking hold. And those things are important – no – critical to the growth you are destined to see in the next phase of entrepreneurship.

This is the time when you will be tested in being consistent where there seems to be very little (or sometimes zero) payoff to all of your efforts. In this phase the most important thing is to KEEP GOING – that is the persistence part. Do not give up.

How do you do this? You take care of your mental health! An entrepreneur in this phase will need to pay close attention to pouring into themselves and staying motivated. It is a mental game. This is also the phase when you may notice some shifts in your relationships. People will begin to get moved into and out of your life. Let some go and welcome others. This is all a part of your process. Not everyone will get to enjoy the next phase with you because few of them deserve to. Pay attention to how people do or don’t show up for you in this phase because you will have some tough choices to make. But if you can make the hard decisions here, you will be ready for the last level.

The Growth

This is the phase where it all starts to make sense. The math starts mathing. Hindsight becomes your 20/20 and you start to “get it.” All the years of work and investing into a vision that felt like only you could see, begins to payoff big time. You will take off here! Growth is inevitable here! And like the bamboo tree, that grows 90 feet in about 5 weeks after 5 years of not even breaking the surface – your growth will likely be fast, overwhelming or feel very urgent. It will all hit at once, and while it may feel sudden, remember, it isn’t as sudden as you once thought. Because like the bamboo tree, you were being prepared for this growth the entire time. Your roots were being planted. Think about how deep and secure the roots of a ninety foot tall tree would need to be so that it doesn’t break easily or blow over at the first sign of wind or a harsh rain.

Now What?

My mom used to say, God won’t bless you with $1M if you can’t manage your $100. Learning to manage the $100 is an essential preparation for when you get $1M. This is why 70% of lottery winners end up super broke, with less money than they had before they won, within just a few years. Because they suddenly came into a lot of financial responsibility without any experience, preparation or guidance. That investment phase is when you get your experience, good habits and preparation for what you will face in the Growth phase.

If you invested productively, by being consistent and persistent, then your growth period will be buttah baby! Remember, you were prepared for this moment. Use everything you’ve learned and stick to your healthy habits. Avoid complacency and getting too comfortable.

Level Up

So, which phase do you believe you are in? Have you been repeating phases and circling back around before progressing to the next one? If so, what’s that about? Just remember, you are exactly where you are supposed to be and when you decide to choose differently, you will move. Not everyone is built for entrepreneurship and that is not a slight. If it isn’t for you, lean into what is and go be great at that! The world needs you to be great, not necessarily an entrepreneur. Being a business owner has been glorified, especially since the Pandemic and the Great Resignation. Funny thing is, entrepreneurship – REAL entrepreneurship is rarely glorious, cute, easy or quick but it is often worth it if you have what it takes to grow like a bamboo tree. It’s never too late to get started and it’s never too late to course-correct if you’re already in it.

You have everything you need…