Online Business Guide
Business life cycle
The Transition Stage
The Transition Stage of the Business Life Cycle is when you have gotten your people, procedures, systems, and placement in place. At this point, your main focus is on activities you can pursue that fall between market need, your passion, and what you can do in the long run. During the Transition Stage you must decide whether to grow your business into new regions or close it down and cash out.
The Expected Challenges & Focus
You’ve reached a point in your business experience and positioning where the only option to improve is to focus on the long game plan or create an exit strategy.
If you plan to expand your business into new areas of the market, you’ll have to innovate like an Ideation Stage business while still advancing like a Growth Stage business. Moving into unrelated business areas may be devastating for any established company. Consider partnering with companies that complement your existing business experience and capabilities. Regardless of your next moves, you may need to analyze your team and assess their capacity to be as agile as you require to keep growing.
The Area of Focus & Plain Truth
The Next Step
Innovative Business Ideas