The Five Stages of Business Growth – Assessing why 90% of new businesses fail and how the 10% succeed?
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.
Part 5: Sustainability to Exit Strategy: Maturity Stage
The greatest concerns of a company entering this stage are, first, to consolidate and control the financial gains brought on by rapid growth and, second, to retain the advantages of small size, including flexibility of response and the entrepreneurial spirit. The corporation must expand the management force fast enough to eliminate the inefficiencies that growth can produce and professionalise the company by use of such tools as budgets, strategic planning, management by objectives, and standard cost systems—and do this without stifling its entrepreneurial qualities.
· Exploring new ideas
· Keeping customers/clients happy
· Challenges in market
· Exit strategy
· Expanding Existing Business
Alex Alinia has worked in various roles ranging from Hospitality to IT & Finance to Business Consultancy over the past 10 years, specialising in Start UP and business transformation. Having talked the talk he is now embarking on the a new venture, providing the strategy and operations behind the conception of a new food brand and co-founding Anzali. A British, family owned and operated business, Anzali is the birth place of founders, with Persian recipes inspired through four generations of home cooking. From grans kitchen to the mass market, we aim to be the number one Persian Food Specialists in the UK market without comprising on the integrity and authenticity. Offering a unique & exciting range of delicious flavours and tastes, unlike any other cuisines.
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