The Circle of Life in Business

Yes, if you assumed that every time I say "Circle of Life" I'm singing the song from the Lion King (1994), you would be correct, but let's stay focused. Like all things, business is not exempt from the life cycle. What stage of business are you in currently? You may wonder why that's important. 

When I led a session at Black Tech Saturdays' Women's History Event this spring, I presented "What I Didn't Learn in Business School". I hold a BBA and MBA, but I started my entrepreneurial journey in undergrad well, if you ask my family they'll say it started as a child but I digress. I learned a lot on the fly, but what is not spoken about enough is actively planning for divestiture in the beginning or in whatever stage we are currently if we have not already. 

Some may find it curious to plan for the end at the beginning but that crucial step puts each stage in perspective and gives a better roadmap by allowing us to work backwards. That allows us to set benchmarks. Yes, I know sometimes we miss our benchmarks because of internal or external elements, but when we know what we are aiming for and where it fits in the picture we have better idea of what we need to achieve in each stage. Every business is different, so the startup, growth, scaling, maturation, and declining stages may vary though key components will assess which stage you're in within technical guidelines.

When you have an idea of your unique circle of business life, you can better answer the burning questions to dictate what each stage represents and learn what story your metrics need to illustrate. I have met founders who have no clue what they want their businesses to accomplish other than profitability (which is important) or for how long they want to operate their businesses but have already taken the plunge without having any strategy.

My divestiture plan is involved in my strategy even when my benchmarks are missed and when the political landscape and economy shifts affect clients' budgets ergo my bottom-line. My divestiture plan is a factor in decision-making when those shifts occur because without the full picture and an enforceable written vision, we plan to perish.

Do your business plans and current action plans point to your desired divestiture plan? For support in identifying your business's circle of life, schedule a consultation to discuss your needs. Braxton Management is here to make things make sense. 

Cheers. 

-K.T. Braxton 

the Braxton of Braxton Management