James, what do you suggest?
Laszlo: “Hi James, I am uncertain about staying in the UK. As you know I am 28 years old and love travelling. But I don’t know what I should do in my professional life. SAP, ERP and management consulting are great for earning money, but I want more than just earning money.”
James: “Ok, let me tell you what I heard and working for me. I hope you follow this path and it will make it easy to choose in your professional life. When you are between 20-30 you learn whatever life, your curiosity and your line manager throws at you. “
Laszlo: “Ok, but what should I do when I am over 30?”
James: “When you are between 30-40, you best specialise in one area you enjoy most.”
Laszlo: “Aha. And what shall I do after 40?”
James: “When you are between 40-50, you make a name for yourself. You claim your space.”
Laszlo: “I see. So what is after 50?”
James: “When you are between 50-60, you focus on your succession. Hand over your knowledge, your responsibilities, relationships and train the next generation of leaders.”
Laszlo: “Ok, then what shall I do when I am over 60?”
James: “Over 60, you just enjoy what you have created and nurture the ones who need your help. If you did your 20s, 30s, 40s, 50s well - you will be respected and surrounded by people who respect you.”
Laszlo: “Thanks James, I will remember this advice.”
I turned this story into a theory, on how to live 100 years. In my mind, we LEARN for 25 years (spring). In the second 25 years, we EARN money for our family (summer). In the third 25 years, we SHARE and earn respect by giving back to society and the environment (autumn). In the fourth 25 years, your legacy can GIVE motivation and starting point to others (winter).
Business / Product Life cycle and Maturity
Similar to human life cycle and maturity, we can use the same model for product and business life cycles.
A startup is in the Introduction stage - the biggest challenge is to find a market need - product fit. An SMB is in the Growth stage - the biggest challenge is steady growth and balanced cash flow. The third phase is the Maturity stage when complexity increases and processes/systems are needed to organise work. Once a product/business is in the fourth stage, it starts declining unless there is a new wave of regeneration, introduction of a new idea that can build on the previous one.
About the Author
Laszlo Csite is a business/agile coach who helps gifted and keen leaders and teams to be extraordinary and fulfil their potential. He is also a digital/CRM product owner, who helps great ideas to grow into admired digital/physical products and brands.
If you enter a new field, want to grow, acquire, split, transform or want to exit - using proven methods can save you time and frustration.
When you are interested, I can show you how to USE LIFECYCLE AND MATURITY to your product, brand and team to CREATE A COMPETITIVE ADVANTAGE. I will share my 24 years of consulting experience and my carefully selected network of professionals with you.
If you find these articles interesting, invite me for a coffee or ask any questions: lacix.co