Stages of Business Development
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As human beings we go through several stages of life. The first is the birth stage where the conception of a male and female create a child inside the mothers wound. The second stage is known as the infancy stage. In this stage the childs heart can beat and all organs can operate properly without help from the mother. During this stage the child enters the world but is fully dependent upon its parents for survival and care taking. The third stage is known as childhood which starts when a child is one years of age and ends when they reach the age of eleven. The final stage is called adulthood which start at twelve years of age to old age.
In this stage everything taught threw the previous stages are used for the adult to take care of themselves. In Adulthood humans have their own children and get to see for themselves, threw their children the stages they went through to get to the point they currently are in life. The sad thing about adulthood is that theres no stage after it. Adulthood end in death but, your traits and personality will continue to survive through your children and grandchildren.
The stages in life are very similar to the stages of Business development. All businesses start out first from an idea and careful brainstorming and planning this is the startup stage. In the startup stage a lot of time, energy, and money is needed by the entrepreneur to purchase inventory, equipment, facilities and other things essential to running the business properly. Just like a women caring a child for nine months, this is a crucial stage in getting the business off the ground and running. Many women along with the help from family members go through high risk pregnancies and during the process get money together to help the mother out to take care of the child when they enter the world. All businesses themselves are at high risk when they first get started and sometimes require help from others to keep the venture going.
The second stage in business is called the growth stage. In the growth stage demand grows and the entrepreneur can witness the growth of the business first hand. This is the stage where the entrepreneur will see profit grow because, the customer base has gotten stronger threw making products or services that the customer appreciates. In the growth stage is where a decision must be made to expand on the operation or to leave it where it is, this is determined threw the demand of what youre offering the customer. To move forward in expanding the business means purchasing more equipment, hiring more employees, or even finding a second or third facility to expand the business in.
When this occurs the entrepreneur is basically starting back at stage one which, is the startup stage. The only difference is that you or others investors wont be as afraid as to invest because, yall know firsthand that there is a demand for the product or service which helps limit the risk factor. At this stage in the business competitors will start recognizing your company as a threat for them which is a good thing because, you know what your doing is causing heads to turn and see what the company is all about. The stage reminds me so much of the childhood