Business Milestones worth Celebrating
Posted by mbbi on August 21, 2010
I was reading a blog written by John Warrillow, where he lists what he believes to be the 4 milestones that every business owner should celebrate.
The four are:
1. Your first sale to a stranger
“It’s great to have a supportive network who will buy whatever you hawk, but the first sale you make to a stranger is a glorious moment to remember. It’s the first time someone, unencumbered by “moralsuasion,” sees your advertising/storefront/fan page/brochure/site/keywords and says, “Yes, I’ll have some of that.” It’s the ultimate validation that whatever business idea you dreamed up might actually work.”
2. Your first lease
“I think getting your business out of the house and into a commercial space is one of those important milestones that prove you’re serious about building a company. You’re committing to a home for your business, showing to potential employees, customers and suppliers that you have a vision for your business that goes beyond just you.”
3. Your first employee
“I’m not against freelancers who run home-based businesses and choose never to hire employees. In fact, many of the freelancers I know take home more money in less time than my business-owner buddies.
But I’m sure you’d agree there is a difference between trying to maximize your personal income and freedom through free agency and trying to build a business that can one day run without you. The latter, of course, needs at least a few employees. And hiring your first is a milestone worth celebrating.”
4. Realizing you can no longer write a check to cover expenses
“ I realized I could no longer think of myself as my company’s banker. This was the moment I finally realized my business was an entity unto itself.”
One glaring oversight to me is any reference to an exit strategy, nothing about selling your business, passing it on to the next generation, creating value in world?
The 4 milestones John mentions are a good start, I wonder if there are anymore that he and I have missed?
-Eric Dunn
Focus Capital Advisors
5 Milestones Remembered | Just Beadiful said
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