The Five Stages of Business Growth – Assessing why 90% of new businesses fail and how the 10% succeed?
Join us for workshop 1 & 2 of 5 to explore and master the 5 stages of business growth.
Categorising the problems and growth patterns of small businesses in a systematic way that is useful to startups seems, at first glance, a hopeless task. Small businesses vary widely in size and capacity for growth. They are characterised by the independence of action, differing organisational structures, and varied management styles. Yet on closer scrutiny, it becomes apparent that they experience common problems arising at similar stages in their development. What you develop in your business is up to you, how you develop it is also all dependent on YOU.
So you have an idea, you go for investment, then what? A business is not successful on an idea, an investor will never ask "do you have previous business experience" because they know you don't. But what they will assume is that you have the understanding of what it takes to operate your business, not your idea!
Over these two stages, we will look at the following areas in more detail.
Market research & Market analysis
Registration of business
Trademarks, Patents, Copyright
Managing Sales Expectations
One thing that needs to be understood, this is not a motivational speech, this is not a "quick guide to business success", these are rules and processes that you should consider and follow, in order to give your business the best chance of success. These come out of years of working with established and startup businesses as well as investors. YOU MUST PLACE ACTION PLAN ON THEM!
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