Over the last two months, I've spoken with more than 50 business owners, listened to their desires and challenges, and learned what keeps them motivated and what holds them back.

Today, I want to share insights about the evolution of a business and its owner, helping you identify where you are and what it takes to progress to the next phase.

Phase 1: Beginning

The beginning phase of business ownership is characterized by two key qualities: excitement and terror.

- Excitement comes from being fresh in the journey, filled with enthusiasm about the possibilities ahead. At this stage, you haven’t yet succumbed to the resignations that often follow repeated failures.

- Terror sets in as you begin to realize how little you know, the immense work that lies ahead, and the feelings of doubt and rejection that accompany initial setbacks.

Many business owners I speak with remain stuck in this phase. They've been working tirelessly for three, four, or even five years but struggle to transition into Phase 2. They often seek solutions through inspiring podcasts, books, and courses but find limited results.

The Trap: Learning, Learning, Learning

In this phase, I meet individuals investing up to 20 hours a week in continued education, hoping that the next secret will lift them from their cycle of mediocre results and constant financial anxiety.

External Challenges:
- Cash flow issues
- Spending time in unproductive environments
- Difficulty in attracting customers
- Managing the business, tech, and skill deficiencies

Internal Challenges:
- Insecurity and self-doubt
- Lack of focus
- Chasing dopamine through social media and distractions
- Seeking confidence

Unhelpful Beliefs:
- "I need confidence to really go for it."
- "I’m too (fill in the blank) to succeed."
- "I must be worthy to earn money."
- "I should be further along than I am."
- "Others have found an easy way, so I’ll spend time searching for it instead of confronting the work."

What to Do in This Phase to Move Forward

To progress to the next phase, shift 80% of your time to the following activity:

Make your product or service known.

Recognize that your internal voice is not a predictor of your outcomes—your actions are. Focus solely on taking action. This will build your confidence as you create proof through your accomplishments, not just through hopes and wishes.

Most people in this phase are shocked to realize that spending four hours a day connecting with others—through conversations, content creation, networking, or advertising—is what it truly takes to move into Phase 2.


Next week, you'll learn what happens in phase 2 and how to grow beyond it.