Business Growth Strategies

Business growth strategy is also defined as a business cyclical process. Different companies, irrespective of their ownership structure and size undergo different phases in its business development growth. In line with the five main phases of business growth, the advisory services in the area circle round:

Phase 1 Existence: which is garnering customers and delivering the product or service contracted for
Phase 2 Survival: firms have demonstrated that they are workable business entities but they question whether they have enough funds to break even or even to stay in business
Phase 3 Success: firms at this point decide whether to exploit the company’s accomplishments and expand or keep the company stable and profitable
Phase 4 Take Off: firms are concerned with how to make the business grow rapidly and how to finance the growth strategy
Phase 5 Resource Maturity: firms are concerned with the decision how to exploit the internal capacity to its advantage and retain the entrepreneurial spirit