Stages of the Business Lifecycle

All businesses go through various stages of the business life cycle as they strive to succeed. Each stage has unique challenges and opportunities. Our aim at Velocity Business Solutions is to partner with you to develop strategies that will help you to succeed in all of the stages of your business cycle.

Success is the result of a well-managed business across all stages of the life cycle. There are five main stages of your business cycle. These stages are the start up, growth, maturity, renewal and exit stages. Whilst each stage is unique, a successful business most be able to look across the horizon of all of the stages.  At Velocity Business Solutions we are here to help you build your future.

 

Stages of the Business Cycle

1. Start up stage:

  • Developing the concept for your business.

  • Documenting your business plan.

  • Sourcing finance.

  • Setting up your business.

  • Identifying target markets that will buy your product/service.

  • Developing your brand.

  • Developing your marketing plan.

2. Growth stage:

  •  Producing the product, delivering the service.

  •  Finding new customers.

  •  Developing new products.

  •  Building and managing your team.

  •  Managing money – what you owe to who, who owes what to you.

  •  Implementing systems.

3. Maturity stage:

Your time is spent on:

  • Managing your team.

  • Managing and maintaining clients.

4. Renewal stage:

  • Managing existing clients.

  • Identifying new opportunities for new/extended products and markets.

  • Reinventing, repositioning, rebranding.

  • Restructuring, recruiting and managing your team.

  • Acquiring new clients

5. Exit stage:

  • Looking to sell the business.

  • Transferring the business.

  • Valuing the business.

  • Succession planning.

  • Wealth creation.