What Does A Startup Have In Common With A Mature Business?
Hi Champ!
We have been talking about the life cycle and maturity levels of a business and we did this out of order! This was not a mistake...
The main reason is that survival, growth and expansion are where we see the most confusion with business leaders pertaining to growth, change, and people issues. The second reason is the inception stage otherwise known as “startup” and Mature stage have some huge similarities as one starts to look for ways to Springboard the business. We will discuss this today.
As a reminder, the five different stages of a business life cycle are:
- Inception
- Survival
- Growth
- Expansion
- Mature
The Inception and Mature Business Stages
Inception is about driving revenue and getting traction to see if the business idea is viable. In the same manner, a mature business looks for ways grow new revenue streams to stay relevant and not be replaced. The difference is a mature business has to focus on operational continuous...