Discover your business stage
STAGE: POST-REVENUE
Congratulations! Your business has reached the Post-Revenue stage, a milestone that many don’t achieve. Be proud of how far you’ve come!
Did you know that 50% of businesses fail by year five? Let's continue on a positive path forward!
YOU'VE ALREADY COMPLETED THESE STEPS
NEXT STEPS TO CONSIDER
I. PIVOT
It's time for reflection! The ability to pivot is a crucial part of maintaining a sustainable business. Pivoting is not failing. It is acknowledging that something may not be working, and it's a time to pause and reflect.
- Check-in with yourself and your team: Culture impacts the success of a business
- Review your financials: Is there anything you shouldn't be spending money on?
- Re-familiarize yourself with market research and trends: What has happened or changed that may impact your business?
- Re-familiarize yourself with the competition: Is there new competition? How are they differentiating themselves?
RESOURCES
II. GROW
What do you need to know to further invest your resources? Business growth means different things to each person. Growth may include: adding a new product or service, expanding into another country, opening a new store, etc. Continue to reflect on your role within the business; growth requires change.
- Are you financially prepared?: If your next experiment does not go as planned, how will you react?
- How and to what degree will you expand?: How do you make the most of your money?
- Do you have the right team in place?: Does anyone need to be promoted or hired?
- Do you need to raise funding?: Will you give away a portion of your business in exchange for a certain level of investment?
RESOURCES