BUSINESS LIFE CYCLE
Yes, There Is Such A Thing.
All businesses go through a fairly predictable life cycle. The amount of time each business spends in each part of the cycle depends on many factors. It's helpful for any business owner to have a relative idea of where they're at in the "big picture."
You Can Change The Picture.
Knowing where you're at is important, no matter if you've been in business for many years, or if you're considering starting a business, or if you're somewhere in between.
You can do things to extend the growth and maturity segments and the business can continue to thrive and produce results.
This represents an opportunity to start things off right. Looking ahead (on paper) can lay out a track that can be followed so you can progress on to the Growth stage, and stay afloat doing it.
"Growing Pains" are not unusual here. Rising sales are great, of course, but the trick is to keep them rising while making sure the whole operation is balanced and running profitably. If you have experience in runnng a business, you can probably relate to that!
If you're running a mature business, it is often hard to look at the big picture objectively. Making changes should be done based on facts, not emotions. That's where a "second opinion" can be helpful. It's a bit like that old saying...if you're in the forest, it's sometimes hard to pick out the trees.
This is the one everyone would like to avoid and it's often hard to see it coming. However, if you think you are in this position (declining sales), there are usually things that can be done to bring it back to life.