Today I'm going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business. At Springboard Consulting we use our Elevate Your Business consulting model, NewBizSpringboard & ElevateYourBiz e-learning platforms to identify key objectives necessary to springboard companies to the next level.
The five different stages of a business life cycle are:
Let’s talk a little about what each of these cycle’s means and how they can each help expand your business’ lifespan. At each level of maturity there are also eight factors that influence growth and the high gain objectives (Springboard's) in each of these change based on maturity.
The eight Springboard's are:
It’s extremely important to build relationships with your vendors and those around you can bring in new customers/clients and increase awareness of your company branding.
The people you work directly with on your products and services are really the ones with the most to gain when you find success. By taking the time to get to know them, you’ll find a whole host of opportunities you didn’t realize were there.
Look for great ways to offer your vendors rewards for helping grow your business and everyone wins. One of ways you can do this is by offering performance based incentives and strategic alignment strategies that are much larger than their normal charges.
Here’s the step-by-step process to putting together a strategic partnership with a vendor:
The pain itself is the love of the pain, the main ecological problems, but I give this kind of time to fall down, so that some great pain and pain.