Know and understand where you are today, so you can be realistic about your next business steps.
1.
Concept—thinking about
starting a business.
2.
Start-up—actually spending
money on or landing initial customers
3.
Initial growth—realizing we
need more employees or other help
4.
Stabilization—spending more
time and money to accomplish goals
5.
Secondary growth—rolling out a
new product, expanding geographically, adding a branch office or taking on investors, partners
or other interested parties as a way of developing resources.
6.
Maturity—the business
functions with or without us there
7.
Exit—we sell or retire and put
money in the bank as a result.
