Expand the Life of Your Business

Today we will explore the life cycle of a business and how to get the most out of each
cycle while also extending the lifespan of your business.
The four different stages of a business life cycle are:
• Infancy
• Adolescence
• Growing Pains
• Maturity

We’ll look at what each of these cycles mean and how each of them can assist you in
expanding the life span of your business.

This is generally considered the technician’s phase, which is the owner. At this point, the
relationship between the business and the owner is that of a new baby and a parent.
There is a necessary impenetrable bond that will determine the path your business will
follow. Never drop your baby.
The key is to recognize that your business must grow in order to flourish. You cannot stay
in this stage forever.

In the adolescence stage you must start delegating to your support staff and allow growth
to happen. The first line of defense is your technical person as they need to bring a certain
level of technical expertise, however this cycle really belongs to the manager. The
planning stage must commence, and a relationship should be built with the entrepreneur
in order to plan for the future.

Growing Pains
There’s a point in almost every business when business explodes and becomes chaotic.
This is referred to as growing pains. It’s a good problem to have, but a problem
nonetheless. You are often faced with the following choices:
• Avoid growth and stay small;
• Go broke;
• Push forward into the next cycle.

The last cycle is maturity, though this doesn’t mean the end of your business. Your passion
for growth must continue in order for your business to succeed. You need to maintain an
entrepreneurial perspective for your business to continue pushing forward.
It is unmistakable that all four of these cycles are connected and require a strong
foundation for the continued success of your business. All three of your key roles
(technician, manager, and entrepreneur that were highlighted in my previous post) must
also work together to successfully navigate these cycles.
If you’re having trouble putting together your business life cycles and figuring out which
of the key roles you fit into, don’t hesitate to reach out to me for assistance.

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