SELF AUDIT WHERE ARE YOU ON 5 STAGES OF BUSINESS GROWTH

1)      START UP
Experimental / Unsure / Sputtering operations

a)     Will we find and acquire enough customers ?

b)     Will we be able to deliver to their satisfaction ?

c)      Will it become a viable business?

d)     Do we have enough cash ?

2)     BUSINESS STARTED BUT NOT YET PROFITABLE
Surviving / Proven / Regular operations

a)     Can we generate enough cash to break even?

b)     Can we generate money for repair/replacement ?

c)      Can we generate enough for scaling up and growth ?

3)     SUCCESSFUL BUT UNSURE WHAT TO DO

a)     To risk and invest life / time / money in growing it ?
To start planning strategy for growth

b)     Or to keep it as it is – as an income generator ?
To hand over operations to managers

c)      To sell it off and retain association ?
Or to completely withdraw

4)     DECISION TO GROW AND TAKE OFF

a)     Both operational & strategic planning at the same time

b)     Managers are not assistants but real ones

c)      How to construct organization? How to delegate ?

d)     Managing high debt-equity ratio

e)     How not to grow too fast and run out of cash?

5)     BUSINESS AND OWNERS : EACH ON THEIR OWN
Maturity stage

a)     The company has staff and financial resources

b)     Can do both operational and strategic planning

c)      Experienced senior staff + systems are in place

d)     The owner has “separated” financially / operationally.