Feeling stuck and don't know which direction to take?
Watch this video where Alan Robinson offers you the next step in your veterinary journey…
Discover your pathway to FREEDOM…
HOW TO
Navigate the 5 Stages of Business Growth
Look no further and find out where you are on your practice journey and what steps you need to take to move on to the next stages.
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From start-up, the 'busy trap', to a successful and growing practice.
5 Stages of Practice Growth
Your natural pathway...
All businesses go through 5 stages of growth from start-up to becoming a successful business. At each stage, the business needs to invest in very specific strategies and the owner needs to adopt a change in mindset to progress to the next stage. Failure to do so means failure to progress or even falling back to a lower stage.
The important thing to remember to progress through the 5 stages is that an alternative mindset is required. You have to move on from the thinking and strategies that got you to your current state.
Changes in strategy, systems and psychology are required at each stage. Like a rainbow of light, these levels work at different frequencies and energies of activity.
The Stages...
Stage 1
Stage 1 is the lowest energy or INFRA-RED LEVEL. Most practices naturally go through this stage as a START-UP or can end up here through internal or external factors of bad luck, bad management or a system BREAKDOWN from a level above. These business owners are often in Victim or Orphan mode of thinking in terms of blame, denial and excuses for their predicament and are generally chaotic and reactive in their responses. They often complain of no time, no money, no plan and no discipline.
Stage 2
Stage 2 is the RED LEVEL of SURVIVAL. Here the SURVIVOR is in enough CONTROL to have enough money to have nothing and no time because you are doing it all. This is all action, no time to plan, living in hope, blame, denial, fear and anxiety. This represents the Martyr phase: I’m OK but powerless– hard work is the only way out. A lot of vets can get stuck here.
Stage 3
Stage 3 is the ORANGE level of STABILITY. Here you have the
safety of a decent wage and a level of autonomy and choice. Essentially you have built yourself a reasonably well-paid job and you are your own boss. The business is generating cash but not a lot of excess profit. You are exchanging your time for money – if you need time off you pay a locum or lose the income. One person (you) is still controlling, if not doing, everything.
Stage 4
Stage 4 is the YELLOW LEVEL of SUCCESS where you have
Mastery of Management and have moved from dependence to independence, and the business is now earning a decent profit and a good return on investment. However you find yourself in the 'Busy –Trap v 2.0', and you have become the Octopus Manager – not just managing yourself, but you now need to be responsible for everyone else in the organisation. You are managing resources, controlling, organising and planning, fixing people problems and everyone is doing a bit of everything. This needs strict command and control, protocols and systems.
Stage 5
Finally, Stage 5 is the GREEN LEVEL of SCALABILITY.
You have become a LEADER working with an engaged team having moved from independence to interdependence. Your job is to provide vision, inspiration and momentum to the team so they can get on with running the business and every person is doing one thing very well.
