Category Archives: Business Development Stages

From Idea to Implementation

All great businesses start with a single idea. The problem for many people is that they never fully develop the idea or simply have no clue how to turn their idea into a business. If you have thought of owning … Continue reading

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Standing Still is Not an Option

In the past, the formulation of business strategies was the responsibility of upper-level management. The traditional approach involved top managers coming up with a strategic direction for the company, setting it forth in an annual written strategic plan, and then disseminating the … Continue reading

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A Business Growth Strategy

Often when we talk about business plans we see that existing business owners feel like they don’t need one since they are already operating.  In order to connect with them, we talk about growth strategies as something they need, and … Continue reading

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A Quick Guide to Business Planning

Planning is a term you hear thrown around often in the business world. Basically, there are two timetables for business planning. The cheat sheet is: Long-range (1-5 years) = strategic (objectives and goals) Short-range (less than 1 year) = tactical … Continue reading

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Partnership in Business

During your business interactions you will meet new people every day or, at the very least, every week.  When you meet new people you should assess and determine if they can be an asset to help you achieve your personal … Continue reading

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Business Development Stage 11: Growth

Our 11th and final stage of small business development is growth.  Simply put, if your business is profitable it will grow. For the small business owner doing more of what you are currently and increasing your customer base and distribution will … Continue reading

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Business Development Stage 10: Profitability

Stage 10 of small business development is the natural result of having effectively completed steps 1-9.  You will find your business working well and bringing in profit. Do not hesitate to revisit the information in Stage 6: Operations if you have … Continue reading

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Business Development Stage 9: Sustainability

By now you are operating, managing, and have achieved predictability in your business.  The next stage of business development is sustainability. It will take about another 6 months from stage 8 to reach this point.  Sustainability means you will be breaking even. … Continue reading

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Business Development Stage 8: Stabilization

A business owner has entered small business development stage 8 when business becomes predictable.  You may not know exactly what your sales are, but should have an idea of what they are at a minimum. It will take about 6 months to reach … Continue reading

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Business Development Stage 7: Management

During the management stage of business development you will provide analysis and adjustment.  Now that there is an incoming cash flow, ongoing analysis is needed to maintain and grow your business. Your goal during this stage is to ensure proper utilization of resources.  … Continue reading

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