Presentation by Kimberly Mullins from the Tutoring Club

1. Business Maturity

2. Stages of Maturity
Solopreneu
r
Transition
Enterprise

3. Solopreneur
• I own a business
• I make all the decisions
• I am the business
• I do it all
• It’s all me.

4. Challenges of being a
Solopreneur
• It’s all you!
• You make all the decisions
• You bring in all the customers
• You handle all aspects of the business
• Characteristics
• No Plans - Run by seat of your pants (not sure
how, I just will)
• Sheer determination of will for success

5. Written Plans

6. Steps to Grow from a
Solopreneur
Hire an employee / independent
Contractor (your first)
• What position is that?
• What would they do?
• What would you pay them?
• What is the milestone for hiring them?
Solopreneur
Transition
Enterprise

7. Steps to Grow from
Solopreneur
Learn to manage
• Management is a learned skill
• Classes (Careertrack, National, Skillpath)
• Delegate
Solopreneur
Transition
Enterprise

8. Steps to Grow from
Solopreneur
Learn to delegate
• 4 levels of delegation
• 1 – Do just what I say
• 2 – Do a small task and report back
• 3 – Do a larger task and report back
• 4 – Just do it
• “Inspect what you expect”
• Training vs Counseling
Solopreneur
Transition
Enterprise

9. Steps to Grow from
Solopreneur
• Plan for business development
• How are you going to grow?
Solopreneur
Transition
Enterprise

10. Business Model Canvas

11. Transitional Stages
• Transitioning from just you to you and your team
• “I own it, do what I say”
• I hire, I fire
• I control the processes
• I control most decisions
• Typical size: $250,000 - $1M sales

12. Challenges of the
Transition Stage
• You are responsible for everything (still)
• Learning to manage employees
• Hiring the right employees
• Managing the regulations of employees
• Creating systems for quality control
• Delegating to the appropriate level.

13. Steps to Grow from
Transition
• Hire management
• Empower management
• Create systems that do not require you
• SOP’s
• Plan for a time the business will run
without you
Solopreneur
Transition
Enterprise

14. Enterprise
• You have built a business that runs without you.
• I own it and work on it
• “I have people that do that”
• I manage the managers
• I do strategy and make only the key decisions
• I am removed from the day to day operations
• It’s all about the business (not you)
• Typical Size: $750,000+

15. Advantages of Enterprises
• You are responsible for Strategy (long
term goal setting, not day to day
operations)
• Infrastructure creates more stability
for business and finances
• Less risky
• Financially rewarding
• Others feel better working with you
• You have more control
• Easier to exit

16. Case Study – Crane Paper
Company
• Family business started in 1801
• Supplies US treasury paper security since
1879 (also for European Union)
• 6th descendant of founder
• International competition asked: “what is
their success plan?”
• They almost lost the account due to NO
Succession plan!

17. Exit planning
• Start with 10 years out as your
estimated exit
• What is your 10 year revenue goal?
• What will your 10 year business
look like?
• How many employees?
• What management will you need?
• What systems will you need?
• Who will you serve?
• Review your Canvas

18. Exit planning
• What is your 5 year revenue goal?
• What is your 2 year revenue goal?

19. Planning your Strategy
Based on your current stage, what are 3 things you need to
do, learn or set up to take the next step? (Write it down)

20. Questions
Kimberly Mullins
International Entrepreneur