
Your business passes through six stages of growth cycle. It starts with the “Seed”, i.e. when you get an idea for a new business and ends when you “liberate” yourself from the business and it becomes self-sustaining.1. Seed:This is the discovery stage where you get a business idea and you explore the market and its opportunities. You experiments with the idea and test it through feedback from existing players in the market.2. Start-up:At this stage, you find your first set of customers. You start understanding what works and what does not. As an entrepreneur, you are the entire value of the business at this stage, without you the business will not sustain.3. Small Business:Your organization starts building at this stage. You try to attract quality people in your business. You feels the need for developing Systems and Processes growing business brings with it chaos due to its outdated processes. Most small businesses get trapped at this stage and stop growing due to the lack of Systems and Processes.4. Large Enterprise:Your business grows to this level with the help of good Systems and Processes and is able to attract professional talent. You manages the business by exception and decentralize the decision-making process. Your entire focus is on growth and business’ future.5. Corporate:Here your business gets a public image. You drive the business through strategic planning and with the help of systems and processes. Processes are consistent across the length and breadth of your organization. Your organization invests heavily on upgrading employees, systems and processes.6. Liberated:You as an entrepreneur liberate from the business when a board forms with independent professionals to run your organization. Strong governance and ethical practices implemented across your organization. The employees imbibe your philosophy and strive for continuous excellence.At what stage of growth is your business? An how do you plan to take it to the next level of growth?First published here see hubwealthy.com/wealthy






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