Each year, during Small Business Week, communities recognize outstanding small business owners. The public should understand what it takes to reach that level of success, and entrepreneurs need to understand what it means to them as business owners. Whether you have applied for your first business license, or are ready to pass your company on to the next generation, you can always learn from others.





A mature business has finally achieved a stable financial condition. As its owner, you're finally making more money than you did at your old job. You've discovered ways to delegate more tasks to your employees, and learned to give them the authority to handle those tasks.

At this stage of the business life cycle, you begin to realize that your personal life needs a boost. Family, friends, and outside pursuits become very important again in order to sustain your entrepreneurial spirit and drive. Your creative talent, hard work, and adrenalin have kept you going for a long time, but they won't work forever.



Maturing into the role of a manager, you're learning to train the staff to handle some of the things you do. This transition presents real but necessary challenges for the continued success of the company. To many business owners, delegation of responsibilities and empowerment of personnel translate as loss of control. In reality, it frees you from day-to-day tasks and gives time back to you so you can direct the path of the company, and plan your personal life separated from your role as owner of the business.



A five-year-old business should be bursting with pride for having gotten this far. Its owner, meanwhile, begins to deal with personal and company quality of life issues. As your employees grow, mature, and take on more responsibility in the company, they help you maintain the high level of customer service you provide, monitor the competition, figure out ways to get the best information in the faster manner, and keep the office supply cabinet properly stocked.