To make millions online you may need to go offline and teach people about the online world that you have learned about over the past two years. you may need to run courses and will be running courses throughout your second year in business.
The third phase of business development is the Mature Phase. In this case the mature phase means employing others to actually deliver the courses that you plan, while you spend your time growing the company.
For any small business to develop it needs to grow, to employ others, while the owner switches his attention to the bigger picture. The overwhelming majority of small businesses never make this step, but this is the step that will make the business truly hands-off in time
You have spent the second year since your business start-up giving talks about different aspects of making millions online. If you have kept at it for the whole year, the chances are that you get a tremendous buzz from running these courses. Now it is time to recruit others to actually deliver some the courses and eventually, all the courses.
This is not the kind of business where you can place an ad in the Situations Vacant column of your local paper. You need to see an individual's body language to make a judgement as to whether he or she could deliver one of your courses as well as you do. You will have met people over the past two years who fit the bill, ask one or two if they would be interested in running your courses
Unless you have a 100% full diary of booked courses six nights a week it might be better to employ your course presenter on a freelance basis, for $500 a day, rather than have all the expenses associated with having company employees. If you do take someone on as an employee, then make sure that that person understands the need for flexibility; that you will be delegating article writing or research, SEO and link building chores when there are few courses. All of your work can be handled without an office at this stage of your company's growth, with everyone working online from home.
Keep your finger on the pulse by doing half the presentations yourself for a while.
You need to be looking at the big picture, of how you can grow the company enough that you will be able to pay a manager to look after the day-to-day stuff, and eventually a lot of the medium-term planning too.
How Do You Grow Your Company?
Diversification is the key to company growth.
You need to offer a wide range of courses, both on different aspects of making millions online and in other areas. A course presenter can present any course, as long as there is adequate preparation time.
You also need to diversify away from just running courses. You could offer more formal training to other companies, such as presentation training, using presentation software and body language skills.
You need to grow your market by marketing your company to new groups and in new locations, new countries even. This will mean taking on employees or affiliates away from your home state. Think about franchising your company's business model. Franchising is the ultimate in hands-off business models. You need to service franchisees' needs and market the franchise, perhaps pay for advertising, but the city by city growth is in the hands of local entrepreneurs who know their area and who have lots to lose because they have invested heavily in buying your franchise. There are many companies offering specialist advice on franchising a company's operations, so make sure you get good advice before going down this route.
Consequences of Company Growth
There will come a point where you need an office and more staff. You will need space for team members to work together and for training to take place, somewhere you can interview new employees. You will need secretarial help beyond that available from virtual secretarial services when you reach this point in your company's growth.
The costs associated with expansion are frightening if looked at in isolation, but if each extra cost is justifiable by an increase in business it gives you a better perspective on that cost. Only a tiny fraction of small businesses ever reach this stage of mature development. Most entrepreneurs make a deliberate decision NOT to grow to such an extent that they cannot work from home.