Achieving profitability is a significant milestone for any business, but true success lies in sustainability, the fifth stage of the Nehemiah Business Life Cycle. Sustainability is essential for avoiding the profit trap—a situation where entrepreneurs, despite having a profitable business, lack personal freedom due to insufficient business systems and the absence of a competent team in key positions.
Sustainability involves implementing robust systems and assembling a skilled team to ensure the business’s long-term viability, ongoing wealth creation, and positive societal impact. This approach not only secures the entrepreneur’s personal freedom but also contributes to fulfilling their calling and living a meaningful life. In essence, launching a business transcends self-employment; it’s about addressing market needs, generating employment, and achieving personal and professional fulfillment through sustainable practices.
KEY CONSIDERATIONS
- Have you implemented systems that allow your business to operate seamlessly in your absence?
- Are your activities and processes systematized for repeatability and foolproof execution?
- Do you have the right people in the right positions? Are you empowering them and leaving them alone to do their jobs?
Featured Entrepreneur
Mike Welker
National Managing Director of
Mariner Institutional,
Founder of AndCo
Watch the video to learn more about Mike Welker’s story.
Training and Planning
Community and Coaching
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Need more guidance?
Enroll in the Life Cycle course where you will learn in detail the characteristics of all the stages, the challenges, keys to success to navigate each stage as well as the checklists of action items to take.