Leveling Up: Skills Every Mid-Stage Entrepreneur Needs to Succeed
So you’ve made it past the startup phase! Your business is generating traction, and you’ve established a solid foundation. As you transition into the mid-stage of entrepreneurship, typically 2–6 years into your journey, you may find that the skills that got you here might not be enough. You will need different skills to sustain your growth.
To thrive in this phase, it’s time to level up. Here are the key skills every mid-stage entrepreneur needs, along with practical tips to develop them.
1. Strategic thinking
At this stage, working “on” your business is just as important as working “in” it. Strategic thinking involves setting long-term goals, identifying opportunities, and planning for sustainable growth.
How to develop It:
- Schedule regular strategy sessions to review your business goals and progress.
- Use tools like SWOT analysis to evaluate your strengths, weaknesses, opportunities, and threats.
- Learn from mentors or industry leaders to refine your vision.
Great example:
Lisa Anderson, Managing Director of Black Cultural Archives, strategically expanded partnerships to ensure the organisation’s long-term impact and relevance.
2. Delegation and team leadership
You can’t do it all alone. Effective delegation and leadership are critical to building a team that shares your vision and drives your business forward.
How to Develop It:
- Clearly define roles and responsibilities for your team.
- Invest in leadership training or workshops.
- Practice trusting your team to make decisions, allowing you to focus on higher-level tasks.
Great example:
Charlene Hunter MBE, founder of Coding Black Females, built a high-performing team by fostering mentorship and collaboration among her network of tech professionals. This approach enabled her organisation to expand its impact and create more opportunities for underrepresented groups in tech.
3. Financial Management for Growth

As a mid-stage business, you’ll face new financial challenges, from managing cash flow to planning for expansion. Understanding the numbers is crucial for scaling successfully.
How to develop it:
- Work with a financial advisor or accountant to streamline your budgeting and forecasting.
- Learn to analyze key metrics like profit margins, customer acquisition costs, and lifetime value.
- Research funding options for growth, such as venture capital or grants.
Great example:
Sharmadean Reid, founder of Beautystack, leveraged her understanding of financial metrics and investor relationships to secure funding and scale her tech-driven beauty platform.
4. Sales and Negotiation Skills
As your business grows, you’ll need to negotiate larger deals, attract bigger clients, and close more complex sales. A strong grasp of sales and negotiation will ensure you maximize opportunities.
How to develop it:
- Read books like Negotiating While Black: Be Who You Are to Get What You Want by Damali Peterman to sharpen your negotiation skills.
- Practice your pitch regularly and tailor it to different audiences.
- Build relationships with your clients to create trust and loyalty.
Great example
Rachael Corson, co-founder of Afrocenchix, negotiated retail deals with Whole Foods and other major outlets by presenting compelling data about the market potential for Afro haircare products. Her focus on relationship-building and tailored pitches made her stand out in a competitive space.
5. Adaptability and Innovation

Markets change, customer preferences evolve, and new competitors emerge. The ability to adapt and innovate is essential to staying ahead.
How to develop it:
- Regularly gather feedback from your customers and incorporate it into your product or service.
- Stay informed about industry trends and emerging technologies.
- Embrace a growth mindset, viewing challenges as opportunities to improve.
Great example:
Abi Oyepitan and Liha Okunniwa, co-founders of Liha Beauty, adapted to changing consumer demand for sustainable beauty by innovating their product line with eco-friendly packaging and ethically sourced ingredients. Their ability to respond to customer values helped position their brand as a leader in clean beauty.
6. Building a Strong Personal Brand
As your business grows, so does your visibility. A strong personal brand can open doors to new partnerships, media opportunities, and trust with your audience.
How to develop it:
- Share your journey and expertise on platforms like LinkedIn or Instagram.
- Attend speaking engagements or panels to establish yourself as a thought leader.
- Network within your industry to increase your influence.
Great example:
Candice Brathwaite leveraged her personal brand as an author and advocate to amplify her entrepreneurial ventures.
The mid-stage of entrepreneurship is a critical time to invest in your personal and professional growth. By mastering these skills, you’ll position your business for long-term success and make your mark as a leader in your industry.
Remember, growth isn’t just about profits—it’s about evolving as a person and a professional. Which skill will you focus on first? Share your thoughts with the PRECIOUS community!