Getting a business to Stage Three, in which revenue goes beyond $10 million and approaches $50 million, is a great accomplishment.
You've tried and tested ideas, learned from failures, and cheered triumphs. You've taken your initial idea and grown it into an organization that is generating substantial profits by offering quality, market-tested goods to customers. You've had to go from an unruly start-up to a more organized system with well-oiled processes and procedures, but that doesn't mean you aren't still innovative and reacting to the market.
You've learned that at this stage you can no longer do everything yourself. That was fine when you had just a handful of employees, but now you need professional management to run the ship and its crew of superstars, with you as captain.
Most entrepreneurs never even get close to this level. But it's not a time to rest on your laurels. A variety of challenges and problems will crop up during this stage that you will have to face and overcome if you hope to move your company forward to the next level, just as you did when you were going through Stage One and Stage Two.
Using the skills and techniques I taught you in Chapters 19 through 22, you will be able to move your company to the next level, Stage Four, where you can expect revenues of $50 million to $100 million and beyond.
Here are some of the important ideas from this section: ...