A business goes through different stages of development. This cycle can in many ways be compared to that of a human being. Parenting strategies that work for your toddler can not be applied to your teenager. The same goes for your small business. It will be faced with different problems depending on which stage of it's life cycle it is in.
Each of the step-by-step SME toolkits below have been specifically designed to not only address the challenges of your small business' current phase but to take your small business to the next phase of it's development life cycle.
NB: Read the definition of each business development phase to determine which toolkit is right for your business.
START MY BUSINESS Please select the toolkit for your business phase:
Idea Phase Toolkit Definition: "The Idea phase of your business life cycle is when your business is just a thought. This is the very conception or birth of a new business venture".
Start-Up Phase Toolkit Definition: Your business is born and now exists legally. Products or services are in production and you have your first customers. Your expenses might be higher than your income but the gap is narrowing as you progress towards breaking even. This phase continues for about two years.
GROW MY BUSINESS Please select the toolkit for your business phase:
Growth Phase Toolkit Definition: Your business has made it through the toddler years and is now a child, and you have reached the break even point in your business. Revenues and customers are increasing with many new opportunities and issues. Profits are strong, but competition is surfacing. The period for the growth phase depends on the kind of business and nature of the product and service.
Expansion Phase Toolkit Definition: This life cycle is characterised by a new period of growth into new markets and distribution channels. This stage often results from the choice of the business owner to gain a larger market share and find new revenue and profit channels.
SAVE MY BUSINESS Please select the toolkit for your business phase:
Mature Phase Toolkit Definition: Changes in the economy, society, or market conditions can decrease sales and profits. Customers, revenue and market share are declining. Even regular customers are not using your product or services anymore.
Decline Phase Toolkit Definition: Changes in the economy, society, or market conditions can decrease sales and profits. Customers, revenue and market share are declining. Even regular customers are not using your product or services anymore.
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