This December marks 8 years of regularly posting content on The BAM Review Blog. This month we are sharing some past posts on practical BAM topics that you might have missed. First published in December 2017 as the first part of a series.
by Stu Minshew
On the theme of ‘maximizing BAM success factors’ we’ve invited guest authors to highlight what they consider key factors contributing to success and growth for BAM practitioners. Previously we’ve covered ‘breaking through your growth ceiling’ for an established business. But what if you are a startup? What if you have a business idea and want to know how to maximize your success from the get-go? We asked entrepreneur and CO.STARTERS trainer Stu Minshew to share what he’s learned about maximizing startup success in this five part mini-series.
Part 1: Get Started Growing
Starting and growing a business is a calling from the Lord. If you ask anyone who has done it, they will tell you how exhilarating it can be, but also how it sometimes seems overwhelming and impossible. The truth is that it doesn’t have to be this way. Yes, it always requires hustle and flexibility, but taking a few simple actions can equip you to overcome obstacles to starting and growing your business to a level of sustainability.
During this series, we will explore these steps, but before we get to those, we need to discuss a few foundational points.
Foundational Point 1: Startups & Small Businesses Have Different Needs
In 2016, The Bureau of Labor in the United States shows that about 50% of businesses make it five years, while only about 30% make it past the ten year mark. If this is the reality, then starting a business doesn’t look like such a good idea. Read more