As an experienced Business Consultant Womens Shon Coleman Jersey , I work with companies in a wide spectrum of growth and age, and I find these growth stage characteristics and issues are pretty close. While not an absolute, it gives a good checklist to review and keep in mind when analyzing your business Womens Carl Nassib Jersey , particularly when developing a SWOT Analysis in your Strategic Planning. It also lets you know as a business owner where your business should be, and if it is on the negative side of things, then you know where you need work. If you are doing better than indicated for your stage you are ahead of the curve and pat yourself on the back. But remember Womens Emmanuel Ogbah Jersey , business is fluid and can change at a moment’s notice- keep working hard to stay ahead and use these growth issues and characteristics as a forecasting tool! Knowing what challenges lay ahead in your company’s growth is an excellent strategic planning tool!


I will discuss the common issues and characteristics and success factors companies experience as they progress from one Growth Stage to the next. Understanding the challenges and threats that lay ahead can help a company tremendously when it develops its Business Plan for growth. With in this business planning process a company can use its Strategic Plan process to identify and meet these challenges and threats, commonly called a SWOT analysis. Having a checklist of what the different issues and characteristics are for each stage of company growth can be an excellent tool for a company’s planning. Do you know what lays ahead in your company’s growth?


Small Business Growth Stages


— Basic Existence Stage


– Main Issues and Characteristics


? Obtaining client?ss
? Delivering the product and service
? executable Services
? Expand from key customers to broader sales base
? Have enough Cash on Hand to cover Cash Flow demands
? proprietor performs all Management functions
? Often a lack of Planning & Systems
? Business just trying to stay viable
? Have yet to stabilize production or product quality
? Trying to gain sufficient customer acceptance
? Business has strong demand on the Owner’s time, cash and get-up-and-go


— Survival Mode Stage


– Main Issues and Characteristics


? Business demonstrates viability as business entity
? Satisfies a base of customers
? emphasis shifts from existence to managing Cash Flow
? Generate enough Cash Flow to break even Womens Corey Coleman Jersey , stay in business and finance growth
? Focus on Market Niche exploitation
? Simple organization and the owner begins to delegate to a manger. However, strong direction and control still rests with the Owner.
? Planning concentrates on Cash Flow Forecasting
? Systems development & implementation in early stages.


— Obtaining Success Stage


– Main Issues and Characteristics


? Exploits its Market Niche
? Obtain Strategic goals
? Expansions is important but stability, control and profitability are key as well


– Owner’s Options:


? Expand and Grow the business
? Maintain Stability as a means of support to the owner
? Owner considers disengagement from the business
? Market penetration
? Competitive Edge
? Functional Management & Owner Delegation
? Management & Key Employee Competence
? Generating sufficient Cash Flow
? Planning for rough patches
? Professional Staff: i.e. Controller Womens Zane Gonzalez Jersey , CFO, CEO
? Production Service, Marketing Womens Howard Wilson Jersey , Strategic and fiscal Systems established
? Operational Budget Management


— Rapid Growth Stage


– Main Issues and Characteristics


? Committed to a Growth Strategy
? interested? with adequately backing the growth stage
? Need good ownership delegation to improve managerial effectiveness.
? Enterprise develops complexity. Performance Control Systems are important
? Established Expense and Budget Controls to maintain strong Cash Flow.
? Profitability Planning Systems are critically important
? Effective Financial Planning, Forecasting, Modeling and Strategy
? Very skilled Womens Larry Ogunjobi Jersey , experienced and competent Management Structure
? Company systems are tested, adapted and highly delegated, but there is strong Strategic Leadership from Top Management
? Capacity to become a big business
? Strong Potential for Business Sale Premium
? Effective Delegation and reliance on talented Managers & Key Employees are keys to success
? Founding Entrepreneur(s) can opt out of business and have a more advisory role


— Maturity Stage


– Main Issues and Characteristics


? Consolidate and Control profits
? Retain advantage of relative small size Womens David Njoku Jersey , nimbleness and flexibility
? Quick market change response time
? Still retains the entrepreneurial spirit
? Growth causes inefficiencies so must ensure the Management Structure continues to grow and evolve. Strong Managerial Talent
? Strong Budget, Operational and Strategic Planning capability and focus
? MBO System (Management by Objectives)
? Cost Systems
? Extensive & well developed company systems and Management Structure
? Strong Financial Resources
? Convert Entrepreneurial spirit to a Formidable Market aim
? Strong Market Niches and Competitive Edge
? Exceptional Risk Management
? Profitability boosted by successful Innovation
? intensiveness in Market Branding and Recognition
? Maintain Competitive Edge by anticipating Market changes and adapting better and faster than competitors


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