🎧 Listen To A Summary of This Article!Getting a new coaching business going and growing it into a valuable asset is not easy. But it’s not a mystery either. The most valuable and sustainable businesses on earth are built on and driven by great processes. And because of this their growth follows a predictable path that anyone can follow.
Over the 40 years I’ve been immersed in the field of small business, it perpetually surprises me how illogically most of those I’ve met approached the process for designing, building, launching, and growing a “Great Growing Company.” Indeed, if one were to believe the stories told and advice given, you would walk away with the conclusion that every business is different, ergo unique, and that every process for growing every business must be different as well. This flies in the face of my conclusion, which is that every company – though absolutely unique in its own identifiable way – is in critical and fundamental form and function the same as every other company. Therefore, the process of business development for each company is identical from one to the other. This has proven itself to be transformational. And our successes at applying that logic – in every kind of company, in every kind of Industry worldwide – are legion. – Michael Gerber 
The Universally Applicable Evolution of A Business
Making The Leap From Startup To Owning An Enterprise.This article shares the exact evolution of a lifestyle business with you, in order to, once and for all, simplify it, clarify it, and thereby eliminate the immense confusion that exists out there in the world of small business development. It’s very easy to get consumed in your own business and lose perspective, therefore, many people reason that business is chaotic and that every challenge is unique. In reality, business follows predictable phases of growth, and many challenges in each phase are common and solvable. Knowing these phases can guide you towards the business you want and it can help you decide on the business legacy you want to leave behind.
1. Startup PhaseAlso known as the pre-launch phase. Every business began as a concept in someone’s mind, with excitement and nervousness in anticipation of the launch. Working with ideas, plans, prototypes and skillsets, someone created a vision, expecting rewards of money, more meaningful work and increased freedom. In their mind, it was brilliant, and so they began. In the wellness space, the average revenue per person in this phase is usually less than the average minimum wage in and it usually lasts 6 months (sometimes forever). When done correctly, using a bespoke business design process, you can shorten the pre-launch phase to 6 – 8 weeks.
Maturity CriteriaTime: 3 months. Focus: Making the first sale. Testing the viability of your business concept and signature offer. Systems: Business strategy and planning system. Key success measures: Best-in-class business concept design, customer factory design, and implementation plan and a viable offer. Revenue: Minimum wage. $0 – $2.5K per month. Size: Owner/founder.
2. Company-of-OneAlso known as a job, being self-employed, or the wannabe practice. After launching, most businesses end up in survival mode with the founder working alone. There’s no team to help with making sales, delivering the service or day-to-day operations. The owner is left with little spare time, money or freedom. They swing between stress and boredom, often feeling lost and unable to see a way to break the cycle. In the UK, USA and Australia, 75% of all businesses do not reach a point where they can employ anyone. You are trading time for money. Juggling your part-time business, full-time day job, spouse, kids and your own wellbeing. The average revenue per person in this phase is usually way less than the average salary. So, buckle up. The journey ahead is going to be hard. But it is totally doable. And VERY rewarding
Maturity CriteriaTime: 9 – 12 months (often less). Focus: Delivering predictable results. Systems: Building a best-in-class client fulfilment system. Branding your story. Key success measures: People falling in love not with what your company does but with how well it does it. People buying you. Revenue: Average salary. $2.5K – S10K per month. Size: Owner-operator. Legacy option: No. But you might be able to sell the business to someone looking to buy a job. With little equity in the business, the prospect of getting a good price is not good.
3. The PracticeAlso known as a micro lifestyle business. The founder’s investment in developing best-in-class operating systems and digital assets allow them to receive better than the average income in their niche with greater impact and more freedom. Typically, those that do not want to scale up to a boutique business invest their time in building out their assets and Authority status.
Maturity CriteriaTime: 24 Months. Focus: Predictable revenue and profit. Systems: Building a best-in-class customer acquisition and retention system. Key success measure: The ability to attract and keep customers better than any other company does. Revenue: Average CEO salary. $10k – $25k per month. Size: 1-3 people. Legacy option: Yes. With a best-in-class core operating system in place, the business is not dependant on you anymore and you’ll find it a lot easier to sell and a lot easier to get a fair price. Alternatively, you can place it in the hands of a professional manager.
4. The BusinessAlso known as a boutique lifestyle business. A small, dynamic team with low overheads and a high-energy culture. The team self-organises, have fun developing intellectual assets that reach people globally and the business looks much bigger than it is. The owner receives better income than they could get at a corporate job with more freedom, greater impact and less stress. This type of business often centres on a ‘Key Person of Influence’ who’s known, liked and trusted in their industry.
Maturity CriteriaYou’ve reached Mount Everest. You are a really badass BaddassPreneur. You’ve 10 Xed your impact on the lives of your clients, employees, family, community and yourself. It took you three to five years to get here but you’ve built something that will last a lifetime… and more. Time: 24 months. Focus: Predictable growth by replicating the Practice up to seven times. Systems: Building a best-in-class management system. Key success measure: The uncanny and seemingly unnatural ability to grow and scale. Revenue: Above average CEO salary. $25k – $100k per month. Size: Up to seven Practices. 3 – 15 people. Legacy option: Absolutely. And, guaranteed, it will be a lucrative exit with options galore.
5. The EnterpriseAlso known as a performance enterprise. This is a dynamic team of professionals working with high-quality business assets. The business is almost unrecognisable from the lifestyle boutique it once was. The culture, brand, systems and products have all shifted up a gear and the business now serves more markets and territories. There’s healthy proﬁt from well-developed strategic systems and assets (mostly digital or intangible). The business owners can either hold on and enjoy the profit or exit for a life-changing amount of money.
Maturity CriteriaTime: 24 Months. Focus: Predictable scaling by replicating the Business up to seven times. Systems: Building a best-in-class leadership system. Key Success Measures: The ability to empower ordinary people to experience extraordinary results. Revenue Target: High-value CEO. $100k+ per month. Size: Up to seven Businesses. 15 – 150 people. Legacy option: Undoubtedly the ultimate legacy option.
If you are looking for a get-rich-quick scheme, this is not it. To build a six- or eight-figure lifestyle business takes focused hard work, both IN and ON the business, and unwavering dedication to delight your clients. But, it is totally DOABLE. And it’s VERY rewarding AND soul-satisfying.References  Gerber, Michael E.. Beyond The E-Myth: The Evolution of an Enterprise: From a Company of One to a Company of 1,000! Michael E. Gerber Companies. Kindle Edition.