Just like anything else that is subject to time, even your business goes through stages.
Each of these stages has unique characteristics and an understanding of these will help you make the necessary decisions to move you to the next stage. Understanding these key characteristics will also save you from making critical mistakes.
Just like a baby needs light liquid foods at first, even a new business has it's own sensitivities. Feeding it the wrong foods will result in failure. A great example is entrepreneurs who seek capex loans before proving their business concept.
The infographic below outlines these key characteristics at each stage and also gives some pointers on what you should focus on as an entrepreneur. So as you go through it, think about your own business and what you need to do to move from where you are, the the next stage of the business lifecycle.
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