Main Street Business #580 The 4 Phases of Business - Don’t Make the Same Mistakes We Did
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Jun 17, 2025 Discover the full lifecycle of business, from startup to exit. Learn why prioritizing people is crucial as you scale your operations. Explore the importance of understanding key performance indicators to effectively duplicate leadership. Delve into tax strategies that can impact your growth and financial security. The hosts share insights on the emotional aspects of selling a business, emphasizing legacy and strategic planning. Get ready for valuable tips that can help navigate the challenges of business development!
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Mark's Startup Struggle
- Mark J. Kohler shares he stayed in the startup phase for five years, suffocating his business by pulling out profits to cover personal costs.
- Gaining stable income through clients allowed him to breathe life into the business and grow it beyond startup struggles.
Side Hustle Before Full Dive
- Start a side hustle while keeping your day job to maintain income and avoid starving your business.
- This approach lets you reinvest slowly and grow efficiently instead of rushing headfirst into uncertain revenue.
Duplicate Yourself in Optimization
- In optimization, learning to duplicate yourself is key; the business owner is often the bottleneck.
- Effective delegation and systematizing help scale output while reducing personal workload.