Business Growth Cycles

Business Maturity and Business Growth | Extraordinary Business

Looking at the different types of growth and how they impact the success of your company

shoestoobigMy nine-year old son is very tall for his age. As a matter of fact, he is now taller than most of the kids in his elementary school, despite only being in third grade. When playing with their peers, people see him as a the leader, which is fine.

However, when playing with older children that would be his size, his lack of maturity is easily apparent, which, at times, has made him uncomfortable. Because of his size, people expect more of him, but he simply hasn’t developed mentally to match his size, yet.

Often when we talk about businesses and business growth, we look one dimensionally – how much revenue the company is bringing in and/or how many employees we have and/or how many locations we serve. However, like a child, business growth cannot be looked at simply in terms of sales; there are developmental components that have to be taken into consideration.  [···]

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Business Maturity and Business Growth | Extraordinary Business

Looking at the different types of growth and how they impact the success of your company

shoestoobigMy nine-year old son is very tall for his age. As a matter of fact, he is now taller than most of the kids in his elementary school, despite only being in third grade. When playing with their peers, people see him as a the leader, which is fine.
However, when playing with older children that would be his size, his lack of maturity is easily apparent, which, at times, has made him uncomfortable. Because of his size, people expect more of him, but he simply hasn’t developed mentally to match his size, yet.
Often when we talk about businesses and business growth, we look one dimensionally – how much revenue the company is bringing in and/or how many employees we have and/or how many locations we serve. However, like a child, business growth cannot be looked at simply in terms of sales; there are developmental components that have to be taken into consideration.  [···]

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Do You Know Where Your Articles of Incorporation Are? | Guest Post from Don Fornes

Document management: knowing what corporate documents you need to keep and a great tool to store them

imageDon Fornes, CEO of Software Advice out of Austin, Texas touches on a topic that falls under the “safety” level of the business hierarchy. The safety level is the level where a business would look at risk in the business and ways to reduce it.

As you can relate, one of the last things business leaders think about when starting and running their company is where to store certain documents. As you know, certain documents are more important than others; it seems as though the articles of incorporation are high on the list of things that need to be on hand.

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Do You Know Where Your Articles of Incorporation Are? | Guest Post from Don Fornes

Document management: knowing what corporate documents you need to keep and a great tool to store them

imageDon Fornes, CEO of Software Advice out of Austin, Texas touches on a topic that falls under the “safety” level of the business hierarchy. The safety level is the level where a business would look at risk in the business and ways to reduce it.

As you can relate, one of the last things business leaders think about when starting and running their company is where to store certain documents. As you know, certain documents are more important than others; it seems as though the articles of incorporation are high on the list of things that need to be on hand.

 [···]

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Stuck in Survival Mode | Extraordinary Business

Thinking about how to get your business to the next level? Here are a couple of thoughts on how you might do so.

imageIf you are like most small business owners, you have built your business over time, adding different products and services to meet the needs of the changing market, changed, explored different business models, ventured into informal partnerships and a slew of other activities to build your company. As a young business, you may have had a swinging door of employees, vendors and contractors that may or may not have added value to your company.  You may have toyed with ventures, such as hosting networking events, done joint product launches and joined affiliate networks to increase cash flow.

After all of the blood, sweat and tears, you have to ask yourself how your company has actually grown.  Would you say that you have a solid brand that people turn to, regularly, to gain a certain product or service, or are your company still considered “one of many?” Do you find your work time filled with “busyness” or strategically focused activities that will help you move your company toward your vision for it? Do you have a vision for your company…and is it limited?

Are you simply filled with the routine of trying to survive, or have you arrived at the point where you truly have options for what the next phase of your business will look like?

 [···]

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Stuck in Survival Mode | Extraordinary Business

Thinking about how to get your business to the next level? Here are a couple of thoughts on how you might do so.

imageIf you are like most small business owners, you have built your business over time, adding different products and services to meet the needs of the changing market, changed, explored different business models, ventured into informal partnerships and a slew of other activities to build your company. As a young business, you may have had a swinging door of employees, vendors and contractors that may or may not have added value to your company.  You may have toyed with ventures, such as hosting networking events, done joint product launches and joined affiliate networks to increase cash flow.

After all of the blood, sweat and tears, you have to ask yourself how your company has actually grown.  Would you say that you have a solid brand that people turn to, regularly, to gain a certain product or service, or are your company still considered “one of many?” Do you find your work time filled with “busyness” or strategically focused activities that will help you move your company toward your vision for it? Do you have a vision for your company…and is it limited?

Are you simply filled with the routine of trying to survive, or have you arrived at the point where you truly have options for what the next phase of your business will look like?

 [···]

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The Business Journey | Extraordinary Business

Business growth stages, different methods and why you should understand which stage your business is on

imageBusinesses typically go through a number of stages throughout their existences, from startup through a “surviving” phase, a bit of a plateau, or even a decline, then, with some effort, the business might reach a point where it is “sustaining,” where things are pretty much under control and the owner can begin to consider options.Typically, the next steps of the business could involve purchasing other companies, being purchased by other companies or simply maintaining the business until the leadership simply doesn’t want to run it any longer.

Like the growth of a child, each phase is unique; each one has its own set of challenges and opportunities. Many businesses get stuck in that “struggling to survive” mode. Others may move rapidly forward, only to slide backward or even go out of businesses as a result of changes in economy, market, industry, competitors, technology or public policy.

 [···]

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The Business Journey | Extraordinary Business

Business growth stages, different methods and why you should understand which stage your business is on

imageBusinesses typically go through a number of stages throughout their existences, from startup through a “surviving” phase, a bit of a plateau, or even a decline, then, with some effort, the business might reach a point where it is “sustaining,” where things are pretty much under control and the owner can begin to consider options.Typically, the next steps of the business could involve purchasing other companies, being purchased by other companies or simply maintaining the business until the leadership simply doesn’t want to run it any longer.

Like the growth of a child, each phase is unique; each one has its own set of challenges and opportunities. Many businesses get stuck in that “struggling to survive” mode. Others may move rapidly forward, only to slide backward or even go out of businesses as a result of changes in economy, market, industry, competitors, technology or public policy.

 [···]

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Your Business, Your Baby | Guest Post

How to plan for and monitor your small business growth stages

imageMuch like a child, the growth of a business takes on a relatively predictable pattern of development. And just like a child going through their terrible twos or fearsome fours, each stage of business growth embodies its own unique challenges. Finally, just as a mother must transition from breast-feeding to bottles and from diapers to potty training, businesses must be prepared to transition from one norm to the next and tackle new challenges head-on.

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