Your business is changing. With the passage of time, your company will go through various stages of the business life cycle. Learn what upcoming focuses, challenges and financing sources you will need to succeed. A business goes through stages of development similar to the cycle of life for the human race. Parenting strategies that work for your toddler cannot be applied to your teenager. The same goes for your small business. It will be faced with a different cycle throughout its life. What you focus on today will change and require different approaches to be successful. The 7 Stages of the Business Life Cycle Seed The seed stage of your business life cycle is when your business is just a thought or an idea. This is the very conception or birth of a new business. Challenge : Most seed stage companies will have to overcome the challenge of market acceptance and pursue one niche opportunity. Do not spread money and time resources too thin.. Focus : At this stage of the bu...
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