They are looking at making the business profitable. Theories taught in business school are applicable now. Companies hire consultants to work out the details or bring people on staff to make it happen. Owners must delegate to free themselves up to be the boss. You know you want it and you need it, but it's hard to deal with.
Entrepreneurs take a real psychological beating here.
The more businesses grow, the more stage two is foisted upon them. In other cases, owners want to make changes because they are tired of working so hard. In stage three, the entrepreneur needs vision again, but this time its strategic - trying to stay ahead of the competition. There is no time frame attached to when a business should move through the three stages. A company might be in stage two for 10 years, says Taylor.