Study the 7 stages of business life cycle for your Business exam. This guide covers seed stage, startup, growth, established, expansion, maturity, and decline phases.
Q: Existence
Answer: Starting off; business is starting
Q: survival (of the fittest)
Answer: creating a good customer base; money starting to come in
Q: success
Answer: steady money is coming in
Q: take- off
Answer: start to make a profit
Q: Resource Maturity
Answer: The most typical fourth stage of the small businessCharacterized by relatively stable or slowly rising sales and profits over several years.products/ services are becoming out of date
Q: Pivot or persist
Answer: EITHER:need to change to something more successfulORkeep doing what’s working
Q: exit plan
Answer: The strategy for leaving an investment and realizing the profits of such investment.