Regardless of what business you’re in, the growth trajectory of any enterprise is similar. There’s the excitement of sheer existence, the heady days of survival and the critical decisions that need to come once you attain success.
In this Business Wisdom podcast, Business Strategist Clive Enever walks through the five stages of business growth, looking at Harvard’s research on the subject and also outlining how that applies in the true trenches of business.
He discusses each stage, how you know you’ve attained it, and the challenges that ensue, including the key things every business operator needs to have in place once they reach the next step on the ladder.
In a podcast that applies to each stage of the business journey, Clive examines the lifecycle of a business, offering you an expert insight into how to climb the ladder of business success.
In the Stages of Business Growth, Clive discusses:
- What the five stages of business are and how you know you’ve reached the next step
- The common challenges that come with each stage and how to overcome them
- Why knowing your ideal customer is key to all stages of business, and how to keep them at the heart of your business planning
As a successful business strategist and coach, Clive Enever has accumulated a wealth of knowledge in assisting business owners to grow their businesses and achieve their goals.
Subscribe to the Business Wisdom podcast here.
[0:33] What are the various stages of business growth?
[1:05] Existence and why the key focus is customers
[1:50] Why 65 per cent of businesses fail within the first three years
[2:10] Survival and why so many businesses remain stuck in this mode
[2:50] The critical questions to ask at this point
[3:09] How you can attain success and which decisions need to be made once you reach this juncture
[3:30] The defining elements of business success and the most important things this stage can give a business operator
[4:26] What needs to be considered in terms of planning and growth
[4:55] How to attain the fourth stage of takeoff and what that involves
[5:05] Why growth might happen at a rapid rate, and how it can be managed
[6:00] The challenges that come with maturity, including maintaining position and developing technology
[6:25] How to innovate and diversify, and why it matters, along with the key ways to avoid stagnating
[6:55] The one thing that all stages of business have in common
[7:05] Why it’s imperative to know your ideal customer and keep them at the heart of your business planning
Resources Mentioned in the Podcast: