Expand the Life of Your Business

Today I want to talk about the life cycles of your business and how to get the most out of
each cycle while also extended the lifespan of your business.

The four different stages of a business life cycle are:
• Infancy
• Adolescence
• Growing Pains
• Maturity

We’ll talk a little about what each of these cycle’s means and how they can each help
expand your business’ lifespan.

Infancy
This is generally considered the technician’s phase, which is the owner. At this point, the
relationship between the business and the owner is that of a parent and new baby.
There is an impenetrable bond that is necessary to determine the path your business
will follow. Never drop your baby.
The key is to know your business must grow in order to flourish and you cannot stay in this
stage forever.

Adolescence
In this stage you need to start bringing your support staff together, delegate and
allow growth to happen. The first line of defense is your technical person as they need
to bring a certain level of technical experience. This cycle really belongs to the manager
though. The plan stage needs to start and a relationship should be built with the
entrepreneur to plan for the future.

Growing Pains
There’s a point in every business when business explodes and becomes chaotic. This is
referred to as growing pains. It’s a good problem to have, but a problem nonetheless.
You are often faced with a number of choices:

• Avoid growth and stay small
• Go broke
• Push forward into the next cycle

Maturity
The last cycle is maturity, though this doesn’t mean the end of your business. Your
passion for growth must continue in order for your business to succeed. You need to
keep an entrepreneurial perspective in order to push your business forward.
You see how all four of these cycles are connected and depends on a strong foundation
in each cycle for your business to be and continue to be successful. All three of
your key roles (the technician, manager, and entrepreneur that I mentioned in my
previous post) must also work together to work through these cycles.
If you have trouble with your business life cycles and figuring out which
of the key roles you fit into reach out to me for additional help with this.