BUSINESS PHASES EVERY WOKE BOSS SHOULD IDENTIFY
Growth and development are two things every entrepreneur looks forward to experiencing. Unfortunately, sometimes it comes and they do not even recognise it or know how to welcome it. It is likened to being caught up in the web of an unwanted pregnancy.
Businesses are like newborns, they steadily grow from being babies to being toddlers and then proceed to be older children.
But how do you spot them when you can’t even identify the different stages?
The development story of your business starts the moment you conceive that million dollar idea and it sets on to become an existing business. In this scenario, a focus on innovation will sustain the business. However, situations change over time and innovation which may be considered desirable right now may become obsolete on the basis of future challenges.
A great part of your effort at this stage will go into revenue generation and creation of market presence.
This does not stay constant, so you will need to sleep with one eye open to note changes. A subsequent positive or degenerative transformation may take its toll. The aftermath of this is dependent on you.
No matter what the results are, this is where your resilience, winning spirit and perseverance comes to play, leading to the introduction of new ideas that don’t exist in the business.
Great innovations are often about great timing. The rebirth of a business never failed to create the “feel good” vibe.