We recognize that entrepreneurs may be at different levels of development in their entrepreneurial journey. This being the case, our partnership with Raizcorp incorporates a targeted development approach to participating entrepreneurs. We have identified three categories of entrepreneurs.
These are companies in the infant stage and are typically managed and operated by the owner and the business has limited profits and seems to have limited expansion prospects. This stage could be where the business and the owner are one and the same thing.
The support package for this phase comes in the form of developmental which typically looks at business needs and a 360-degree view of the enterprise, its strategy and objectives.
The growth need is recognized by the owner. This phase of the cycle is when the business already has systemized their methods and processes for profitability. Generally, the business is run solely by the owner without best business practices in place to accelerate growth and profitability.
The support package for these businesses comes in the form of acceleration, and these businesses are supported based on missing capacities, opportunities for systemization and investment – access to new skills, new understanding, new knowledge and new entrepreneurial depth.
At this level, the entrepreneur has achieved a certain level of stability and profitability. The entrepreneur knows how the business got to where it is, and what it must do to get to where it wants to go. He is in a position where the business process and model may no longer serve a modern economy or context due to the changing nature of our globalized society.
The support package at this stage comes in the form of advisory business support through their transition towards new systems efficiencies, modernization and growth. The entrepreneur is given support to roll his vision out and explore new opportunities.