HomeBUSINESSStart Up: The 5 Phases Of The Growth Of A Small Business

Start Up: The 5 Phases Of The Growth Of A Small Business

A company is like an organism. It was born and began to take its first steps in its start-up phase and then grow. What are the main stages of growth that a small business undergoes when it enters the market as a Start-Up? Let’s find out together immediately to understand better the various steps to be faced during the development of a new business, to be able to face them in the best possible way by overcoming the pitfalls and increasing the chances of success.

The Enthusiasm For Starting

At the precise moment in which an owner chooses to found his commercial reality, he is seized by an irrepressible enthusiasm that pushes him to continually devise solutions to sponsor the business by making it known as much as possible: he introduces it to friends, and family and acquaintances, participates in events in the hope of being able to network and spend a good part of the time available assuming maneuvers that allow the company message to reach anyone who may be interested in the products-services offered.

In this first phase, the entrepreneur demonstrates a mix of excitement, passion and utmost dedication towards the newborn project, which encourages him to always see the glass half full, despite the initial difficulties being considerable.

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The Decline In Exaltation

When the rush of novelty passes, the first and second thoughts about the choice of setting up on their own begin to present themselves: if the phone rings (instead of believing that it could be a new person interested in the offer), you fear the reproach of some dissatisfied customer, the levels of growth described in the previous point tend to decrease. The weight of responsibilities becomes more pressing. In this step (during which, in addition to perceiving a drastic decline in enthusiasm, one begins to wonder if it wasn’t easier to remain dependent on others), it is possible to decide to:

  1. to shrink to avoid the problems typically present in developing companies;
  2. keep stable by accepting stress and excessive workloads (a more popular option but at the same time also more dangerous and harmful because it is capable of creating anxiety, dissatisfaction and discontent both in the owner and among the collaborators);
  3. expand to cope with the acquisition of other positions and hiring staff.

Growth Control

Even if, as already mentioned, there are not many Start-Ups willing to grow, those who choose to take the big step (generally) are managed by conscious entrepreneurs and able to understand that to embrace the internal and external development of the business, you need :

  1. resources responsible, prepared and ready to meet the demands of the public;
  2. experts in marketing, administration, jurisprudence, etc., able to solve problems, directing the activity towards the correct path;
  3. effective strategies to generate profits by expanding the company;
  4. targeted marketing activities help convey the corporate message among new potential customers.

The Ability To Know How To Change

The fourth phase, generally faced by the owners of young and small businesses, requires them to know how to adapt to changes in the sector they belong to and keep up with the market transformations.

Since those who fail to evolve continuously risk being crushed by the competition, the first strategy to be implemented to avoid such situations is to include professionals in the company who can deal with any novelty in the best possible way: people with great experience who know how to identify and advise the entrepreneur on the various paths to be taken over time to guarantee the company growth, prosperity and development.

The Eventuality Of Decline

The decline phase usually comes only when the point described above is not addressed in the best way: proving unable to pursue innovation can be harmful to the point of putting an entire business in crisis, leading it to regress or even completely defeat. Paying maximum attention to market developments, it is much easier to face the competition by remaining the only point of reference for its customers.

These are the five stages of growth of a StartUp: delicate steps to be faced with great caution to avoid having to deal with unnecessary problems, which could be difficult to get out of.

TechQuestTeam
TechQuestTeam
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