It is often said that 95% of small businesses die in the first 5 years. One of the reasons is because many fail to transcend the entrepreneurial continuum.
Entrepreneurial Continuum
“There is a difference between ‘Trading’, ‘Business’ and ‘Organization’.”
At trading level, your processes are mostly undefined, loose and spontaneous. At business level, your processes become more defined and aligned into systems. At organization level, your focus is on aggregating systems into functions and assigning resources to manage those functions in a well structured format.
Any entrepreneur that understands this will build a legacy organization.