Mapping Your Way to Success

The Strategic Business Growth Cycle Evaluation Unveiled

Embarking on the entrepreneurship journey is an exhilarating experience, but not without challenges. As your business grows and evolves, it's essential to understand the different stages that it goes through, so you can anticipate and overcome any obstacles that come your way. That's where the Strategic Business Growth Cycle Evaluation comes in. This model breaks down the growth of a business into four stages, each with its own unique set of concerns, fuel sources, and focus areas.

STAGE 1: Forming

At this stage, the company is just starting, focusing on developing the entrepreneurial passion that drives the business forward. The entrepreneur's passion and drive to succeed are the fuel that creates forward momentum at this stage. However, it's common for entrepreneurs to feel overwhelmed at this stage as they try to do everything themselves. To move forward, it's essential to focus on team formation, building a team of trusted individuals who can help to drive the business forward. 

STAGE 2: Storming

During this time the business is experiencing explosive growth at this stage, which can also bring staff and financial challenges. The fuel that creates forward momentum at this stage is the business's success, which attracts new customers and opportunities. However, it's common for companies to experience management formation challenges at this stage as they need help to keep up with the demands of their growing business. Building a strong management team and establishing financial processes supporting the business's growth is essential to progressing through the next step. 

STAGE 3: Norming 

At this phase, the organization has achieved market impact and relevance, but there may be inconsistencies in the business's independence. The fuel that creates momentum at this stage is the business's growing reputation and success, attracting new customers and opportunities. However, it's common for companies to experience challenges in creating consistent systems and processes at this stage. Structuring systems and processes supporting the business's growth and maintaining its independence is crucial to continuing through the next step.

STAGE 4: Performing 

During this final portion, the business has established a strategic vision but may face resistance to cultural change. The fuel that creates momentum at this stage is the business's strong vision and leadership, which helps drive the business forward. However, it's common for companies to experience challenges in creating a dashboard that can effectively measure the business's success. Therefore, it's vital to focus on creating a culture of change that embraces the business's vision and establishing a dashboard to track its progress. 

Understanding each stage of the Strategic Business Growth Cycle Evaluation is crucial to the success of your business. By anticipating each stage's challenges and opportunities, you can develop strategies to help your business move through each step and achieve its full potential. Whether you're just starting or looking to take your business to the next level, this insight can help you develop a roadmap for success.