Here’s the deal: small businesses – including microbusinesses – have a lifecycle that’s different than the lifecycles of other kinds of businesses. If you’re a small business owner, you probably started your business because there was some particular product you wanted to build or service you wanted to provide and you’ve probably figured out that having a successful small business takes more than having a great product or great service. Growing a small business requires knowing which steps to take at the right time; if you take those steps out of order and you can waste a lot of time, money, and momentum.
There are five stages to the small business lifecycle, each of which have different strengths, challenges, inconvenient truths, and ways forward. This guide shows you what each of those stages are and will show you where to focus your resources so you can grow your business.
If you’ve been thinking about starting your own business, it’ll help you figure where to start and get a foothold in a market. While there are some differences in starting an online business versus starting a traditional small businesses, both of them share the same business lifecycle.
And if you’ve been in business for a while, you’ll have a better gauge to evaluate where you are and what you need to do next. If you’re growing fast and want to keep growing, it’ll show you how to do it strategically. If you’re stuck and don’t know what to do, it’ll show you what you have to get in place to get unstuck.
Here are some specific topics we’ll cover:
Questions to ask before you start your own small business
How to get a foothold in the market and why you should be marketing fewer things to fewer audiences
Why some “successful” products and services will cause you to get stuck and lose momentum
Where your small businesses might get stuck and what four things must be in place to get it going and growing again
How not to break a successful, scalable small business once you’ve got it there
While this guide won’t give you a specific business strategy, it’ll show you what needs to be done so you can determine the right strategy for your business.
This guide is succinct and very accessible; you don’t need another longer, hard-to-understand business book. No prior business education or experience is required to understand it, though prior education and experience will give you a deeper understanding of the insights in this book. You’ve got a business to grow, and this book is written to get you realigned, focused, and gaining momentum.
Targeted Age Group:
Writing a business book requires being very focused but at the same time distilling your key points without jargon so that anyone can understand despite the level of business education he or she may have. You walk a fine line between general explanation and specific examples, but both are necessary.
What Advice Would You Give Aspiring Writers?
Charlie Gilkey helps people take meaningful action on the stuff that matters. His website, ProductiveFlourishing.com, is one of the top websites for planning and productivity for professional creatives, entrepreneurs, and small business owners. He’s a sought-after speaker and advisor on small business growth and business strategy. His work is grounded in theory at the same time that’s practical and actionable.
The book, The Small Business Lifecycle: A Guide for Taking the Right Steps at the Right Time to Grow Your Small Business, is an extension and curation of the material I’ve been sharing about the small business lifecycle over the last few years. It’s main point is that bootstrapped small businesses grow differently than other kinds of businesses and growing a small business requires focusing on the right steps at the right time. Too many small business owners are either trying to do things too early or are still doing things the same way as they started, which either leads to gaining no traction or not addressing what has their business stuck. It shows what steps to take at what stage of business.