Generally in a business start up situation you encounter an entrepreneur who is jack of all trades, he or she makes all the decisions and is the CEO, CFO, & HR person; a one man band.

But as the business grows new demands need to be met, such as more financial discipline, some structure and accountability, and maybe outside expertise, and we enter a new era that is more managerial. We associate this phase also with the arrival of new owners, hence the stage of multiple owners.

The next segment of this continuum introduces more professionalism when the business requires more procedures, goal setting, teamwork and structure. At times this may coincide with the entrance of a new generation in the ownership structure and the possibility of owners not actively working in the business.