Phases of a business relationship

Editor’s note: Michelle Stockman works with Little Rock-based Arkansas Capital Corp. to promote entrepreneurship development around the state. Stockman earned a bachelor’s degree from Loyola University-Chicago in communications and fine arts, and earned a master’s in entrepreneurship from Western Carolina University. Her thoughts on business success appear each week on The City Wire.

Owning a business takes you on a journey much like a new relationship in your life. The first state you’ll experience is blinding love. New business owners love every tiny aspect of their business and are optimistic about the great success they will enjoy.

This phase is wonderful and helps the business owner oversee the long hours they are putting into the business. However, the danger at this stage is loving your business so much that you ignore some keen advice or pass on finishing a well thought through business plan that will prevent you from larger mistakes later.



The second phase is one where the business owner starts to see their business in a different light. They go from invincible to realizing that the new business is not perfect. It is similar to the first time you realize your baby lied to you. Here the business owner needs to evaluate the product, operations and market. Are things going the way you planned? Are your customers happy? Are there any changes I can make to improve this company?



If the second phase is skipped by a business owner, then they’ll often experience phase three. Phase three is when your business starts to run you ragged. You are getting tired from the long hours, struggling with balancing your time at home or in your business and your customers may be noticing a slip in the quality they are receiving.

Phase three indicates that your business has been growing in work, yet you may be working too hard to keep all of the control. Like a couple testing each other too really see if things are a good match, the business will test you to see if you can work through the frustrations and struggles. This is a point where you need to make some tough decisions about yourself, your business, your staff and your future.


Once you move through the problems of phase three, you will delight in the success that comes with phase four. Now you are a successful business owner ready to move forward with the business. You know more storms lie ahead, but you’ve made it through the start-up phase.

Stockman can be reached at [email protected]