7 Stages of Business Life

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7 Stages of Business Life

Postby Mel on Fri Feb 15, 2008 11:57 am

I found this article on the seven stages of business life. The author, Nicco Duncan states "Knowing the seven stages of business and knowing how to plan for them is paramount to the success of the business and the Entrepreneur."

Here's the full article:
http://womensonlinemagazine.com/article ... cleID=1875

I thought it was pretty interesting and wonder... what stage are you in?
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Postby Mila on Fri Feb 15, 2008 2:57 pm

I'm in the expansion stage, which is hard at tines but exciting and fun too. I think it's very tempting for a lot of small biz owners to stay in the established stage.
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Postby LorettaOliver on Fri Feb 15, 2008 6:21 pm

I think I'm in the growth stage right now. Interesting article, I had never really thought of it broken out like that.
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Postby ravish30 on Sun Feb 17, 2008 8:02 pm

Wow! Great article! I would also state that I am in the Growth Stage.
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Postby Mara B on Mon Feb 18, 2008 11:37 am

I would definitely say I'm somewhere between the start-up and growth stages. I DID have my business accounting done, so I guess that makes me a legal business now. But, I'm still learning, planning, and making changes.
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Postby Traci on Mon Feb 18, 2008 11:57 am

I'm in seed stage--not sure to go for it or not.
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Postby beachmom on Wed Feb 20, 2008 9:45 pm

Between start up and growth. Thanks for posting that, it was interesting to read!
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Postby basbds on Sat Feb 23, 2008 10:48 am

Traci wrote:I'm in seed stage--not sure to go for it or not.


Go for it Traci!

You'll never know how far you can go until you push it to the limit! :D

Interestingly, I have a quote about that on my blog this month, "Only those who risk going too far will ever know how far they can go."

_______________________________________________________

As for the article...

I think that for a true entrepreneur, the Expansion stage and the Decline stage are cyclic in that if an area of business goes into decline then the entrepreneur adjusts by expanding into new products and services while maintaining those areas that are still producing.

I also think that a true entrepreneur never really reaches the Exit Stage as he/she does the above and enjoys the 'business challenge' too much to quit a business. I know both men and women well into their eighties and even nineties who have thriving small businesses.

If you love what you're doing, than you keep doing it until the day you get called home. Whether it's teaching adults how to read, working for a charity, running a small business, or whatever. An entrepreneur loves entrepreneurism for its own sake as well as for the financial benefits (and the implications thereof; i.e., stay-at-home, etc.) and continues to do it for the sheer joy of it! Because of the cycle I mentioned above, the entrepreneur continues to modify and explore new areas of business throughout his/her lifetime.

Frankly, that's the difference in a nutshell between a mere businessperson and an entrepreneur [although admittedly, some people just call me a nut and seem to leave the shell part out!]. :lol:

My two cents on the article. :)

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