Win, lose or draw—what was 2020 to you?
The most important thing is that you’re still an entrepreneur.
Your mission as an entrepreneur is to create enough value for your clients that you create wealth (the freedom of finances and time) for yourself.
Let’s take a look at your progress, using the Founder, Farmer, Tinker, Thief Test. Click here to take it.
Entrepreneurs move through four distinct phases on their journeys:
Founder Phase—You’re doing everything yourself, bootstrapping and paying yourself as an employee in your business. Founders usually have 0-50 clients.
Farmer Phase—You’re hiring people and managing them, scaling up your business by adding systems, and growing to 150 clients and a 15 percent profit margin.
Tinker Phase—You’re duplicating your success and working toward wealth (the freedom of finances and time).
Thief Phase—You’re creating a legacy for your family and community.
Knowing which phase of entrepreneurship you’re in can help you decide where to focus in 2021, what kind of mentor to get and what advice you can skip (for now). I wrote a book about it called “Founder, Farmer, Tinker, Thief,” and our mentorship platform follows this progression.
2020 taught us many lessons. In the long run, it made us better—because we’re playing a long game here. 2020 forced us to find and fix mistakes and double down on our strengths. The key is constant forward motion.
How do you compare to last year? What action did you take in 2020 that will save you money and pain forever? What new revenue streams or programs did you put into orbit that will pay dividends over and over?
This is how you should really judge your year: not by the mountain but by how you’ve learned to climb.