Contributed by Jason Fry, the president and CEO of Zotes Products, LLC.

As entrepreneurs, each of us faces myriad challenges. These challenges not only stretch our capacities, patience and ability to keep employees focused on the company vision, it also allows for alternate ways of thinking to begin creeping into our company culture. One of the most important business lessons I learned was the four-phase approach to business taught to me by my grandfather Don Pickett, a very successful entrepreneur. He taught me that every company has four phases, and your ability as a leader will be judged on how well you keep your company in Phase 1.