184: Five Stages of Business and the Decisions to Make as You Grow
There are five stages of business you'll move through as your business evolves from startup to its final destination. As you move through these five stages, your business follows certain recognizable patterns.
People have questions all the time about how to navigate the growth of their business, not just mentally but practically. And every stage comes with its own questions and considerations.
In this episode of Time to Level Up, you’ll learn about each of the five stages and the patterns that occur in each as you grow your business. I’ll also give you questions to ask yourself as you move through the stages so you can have a clear idea of what’s necessary for the growth and scale you desire.
What’s Covered in This Episode on the Five Stages of Business
2:54 - The simple but crucial first stage of business
6:19 - Signs that you’re in the “survive to thrive” stage
9:28 - Your concern as an entrepreneur at stage three of your business
12:38 - The added priority and shifts necessary for moving on to the final two stages
15:03 - A review of the five stages and identifying which one you’re in right now
Mentioned In Five Stages of Business and the Decisions to Make as You Grow
She Thinks Big by Andrea Liebross
Simplicity and Confidence Workshop
“Understanding the 5 Stages of Business Growth” | Lucidchart
“Learn how to make better decisions with 3 powerful habits” by Maggie Wooll, MBA | BetterUp
Quotes from the Episode
“Sometimes someone realizes that what they thought was going to be the main product or service actually isn’t; there might be a better product or service that more people want.” - Andrea Liebross
“When you get to ‘survive and thrive’, you’re going to have to up the ante because you’re probably going to have to do things differently.” - Andrea Liebross
“If you’re going to keep going as a mature business, you need to be adaptive, bring new things to the table, and anticipate market changes.” - Andrea Liebross
Links to other episodes
181: 10 Reasons Why You Say No to Investing In a Coach When You Want to Say Yes
177: How to Handle an Unsupportive Spouse or Partner As a Big-Thinking Business Woman
169: 5 Key Principles to Create the Lifestyle You Want In Your Life Plan
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