Have you ever wondered where you business is? How much life it still has and what you can expect in the next few years. Well here is the life cycle of a business and what must you be particularly careful about?
Concept: This is when you are thinking about what kind of business you want. What it will look like and what you will sell. This period can last for many years – depending on how quick the entrepreneur is to get to the next stage. Card must be taken to ensure that you are starting a business that people actually want to buy from. Many business ideas never get to be fully fledged businesses – either due to lack of entrepreneur enthusiasm or from difficultly in finding enough funding.
Start up: During this time you will be obtaining funding, finding premises, manufacturers, staff and wholesalers and generally setting up your business. This is really the most exciting time and sets the foundation for the success or not of your future business. Great care must be taken to manage your cash flow and ensure that you have a properly structured company.
Youngster: This is a period of learning …Entrepreneurs – What Can You Expect in a Business Life Cycle? Read More