Services to Support You Through All Stages of Growth
Growth enterprises typically go through four distinct stages over their life cycle: start-up, growth, expansion and maturity. Every stage has its own special characteristics that require effort from the business. We help businesses make their dreams come true and deal with the challenges and special characteristics of each stage through all stages of growth.
When the business is taking its first steps, the entrepreneur’s most important tasks are to create a credible and profitable business plan, to secure the needed grants and start-up funding and to establish the business. After this, the first versions of products or services are created, the business logic is developed and the sales arguments are formulated in order to establish the first customer relationships.
Once the business has started operating, the entrepreneur’s biggest challenge is to secure sufficient resources for growth. This could mean seeking external funding or recruiting the needed competence. In addition, the business must develop sales channels and put the finishing touches to its first products or services as well as create a sales and marketing strategy with the help of its first customer stories. Financial administration must be arranged by the business itself or by using an external partner, and the work of the business’s board of directors must also be enhanced at this stage.
During the expansion stage, the entrepreneur’s key tasks include managing and maintaining growth. This is made possible by – for example – developing processes and engaging the commitment of the business’s key employees. If it is necessary for the business’s operations, this stage would also be a good time to think about internationalisation and breaking into new markets, e.g. with new products or services.
Once the business has reached the maturity stage, the entrepreneur should take some time to think about the business’s future. Does the entrepreneur want to exit the business or pass the business to the next generation? Would now be a good time to update the business’s strategy to improve profitability and the business’s ability to keep up with change? Should the business expand through acquisition or would selling the business be a good solution?