The Five Stages of Business Growth – Assessing why 90% of new businesses fail and how the 10% succeed?
Join us for workshop 2 of 5 to explore and master the 5 stages of business growth.
Categorising the problems and growth patterns of small businesses in a systematic way that is useful to start ups seems at first glance a hopeless task. Small businesses vary widely in size and capacity for growth. They are characterised by independence of action, differing organisational structures, and varied management styles. Yet on closer scrutiny, it becomes apparent that they experience common problems arising at similar stages in their development. What you develop in your business is up to you, how you develop it is also all dependent on YOU.
2nd: Concept to Reality: Understanding your resources – Sales focused
Understanding your resources – Sales focused In reaching this stage, the business has demonstrated that it is a workable business entity. It has enough customers and satisfies them sufficiently with its products or services to keep them. The key problem thus shifts from mere existence to the relationship between revenues and expenses. In the short run, can we generate enough cash to break even and to cover the repair or replacement of our capital assets as they wear out? Can we, at a minimum, generate enough cash flow to stay in business and to finance growth to a size that is sufficiently large, given our industry and market niche, to earn an economic return on our assets and labour?
Managing Sales Expectations
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