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7 Stages of Business Process

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Everyone from inception until disintegration will go through different stages. In fact the process of trading route include 7 stages. 7 Understand that period and how to plan for their arrangement is the key to achieving success in business.

Phase 1: Sowing

This is the stage where the business exists only in thought or in other words, just the idea, business intentions. This phase is also called the period of "birth" of new enterprises. Most companies in this stage will have to overcome challenges: market acceptance and pursue appropriate opportunities. During this period, all businesses should be careful not to spread the financial resources too thin.
The central issue of this stage how selected business opportunities matching skills, experience and passion for entrepreneurship. And do not forget the other important key points were: deciding on the ownership structure of the business, find professional mentors, and business planning.
At this stage, companies will have to find markets and customers for themselves. They can rely on the funds borrowed from the owner, friends, family, or individual investors. Also businesses can also use the funds from other sources such as suppliers, customers, the government's aid.

Phase 2: Launch

Now, now newly formed and exist in a legal way. The products and services have been put into production and has made first customer. In this stage of the business, the demands of capital and time search market is highly appreciated. And the fundamental challenge here is not to the slightest amount slipped. Business owners must learn to study "realistic" since the demand from customers can bring profits and make sure the business is on track.
Startup phase requires companies to establish customer base and market flows with source control and monitoring. Capital support for the growth in this period can call from the owner, friends, family, suppliers, customers, borrowing or grants.

Phase 3: Development

At this stage, the enterprise has experienced "the toddler years" and this developed into a "child" really. Turnovers and growing customers, synonymous with the emergence of new opportunities and new challenges. Profit growth also leads to increased competitiveness. The most severe challenges in this period that the company was faced with constant menu of issues raised to seize the opportunity and financial resources. To do this, requires employers to have effective management methods and can plan new business. Learn to train employees how and management and art entrusted, entrusting the key to the success of this phase.
Growth pace of life cycle of the enterprise based on the operation of the businesses that follow a more standard way to respond to sales volume and growing customer base. Therefore, enterprises need to adopt management systems, calculation methods and better operation. At the same time, enterprises also need to search and recruit staff capable of handling well the problems that arise in the course of business. Funds can now take advantage of this stage is to borrow from banks, from profit, partnership, assistance and rental options.

Stage 4: Stable

In the setup phase, the business of the company seems to have "nine" and thrive with loyal customer base in the market occupied. Growth in sales is no longer booming as before but still maintained control. The business has also become a "habit" with the processes in place to ensure consistency, long-term development of the business.
This phase can now "temporary resting" and satisfied with the achievements gained. Business owners have worked hard and need to relax. However, the market is extremely cruel, fierce and highly competitive. So now needs a strong fulcrum than the bigger picture. Issues such as economic factors, competitive or change the customer's main market trends and can quickly make all efforts on the now become "the cup of the trigger". Thus, the rhythm of life cycle of the business is set up will be based on operational improvements and productivity.
To be able to compete with the capital markets, business owners will need to better business and a larger scale with automation engineering and innovative devices to improve business productivity. Funding for this phase can take from profits, bank loans, investors and government grants.

Stage 5: Expand

The growth in new markets and new distribution channels are the basic features prominently in this period. This is the stage for the selection of the small business owners to occupy the larger part of the market share and seeking new revenue sources as well as other business channels profitable. Expansion into new markets requires research and planning for the business at seeding stage and startup. Business owners should focus on the business venture a little. This will enrich the current capabilities and their own experience.
Moving forward, plunge into new business areas unrelated probably try a fierce challenge. Specifically, enterprises should increase the products, new services and launching or expanding existing products and services into new markets has, to different customers or markets and the towards. Capital for expansion stage venture can be obtained from banks, new investors and partners.

Stage 6: Depression

These changes in market conditions, society, the economy could reduce the number of sales, thus the profit decreases. This problem may cause many small businesses bankrupt faster by businesses during this period will have to cope with many challenges, such as profits and sales decline, cash flows could fall into deficit. The biggest problem is to extend to businesses can support the cash flows are not expected to improve this.
Business owners may begin to wonder whether it was time to switch to the final stage of the business life cycle rhythm - phase abandon (disintegration) or less. They should also seek new opportunities, new business ventures. Measures to cut costs and find new ways to expand cash flows are urgent work necessary for this stage. Funds could be mobilized from suppliers, customers, the owners.

Stage 7: Breakups

This period is the time when the entire year trying to work hard and work on business start-up type contract, or can understand simply terminate the entire business. The closure or transfer to enterprises is unavoidable, requires a realistic assessment of the situation of the company thoroughly. The years of hard work to build companies sometimes difficult to compress review the actual situation to decide what is the true value of the company (Position of the company) in the current market in.
If an entrepreneur starts looking for ways to shut down businesses, will face challenges related to financial issues and the psychology of the loss. It is necessary to obtain the true value and professionalism of the company. Business owners should also consider how to operate, barriers to competition and management so that companies can meet and satisfy our customers.
During this period, the establishment of a written agreement with the legal sale transfer business plan is very important. And funding for this phase was evaluated business partners. Financial advisers and accountants can offer the best tax strategy to decide whether to sell or shut down the business.

Epilogue

The stage of the business life cycle rhythms certainly will not happen in sequence. Some new businesses are established, but the transition from start to disintegrate rapidly. Others can not reach the expansion phase and is only stopped in a stable phase. Success or a dismal failure in business depends on the entrepreneur's ability to adapt to changing life cycle.
What they should do is concentrate and apply measures to help companies overcome this difficult phase. And these measures will have an impact on the latter company. Understand the application of the stage of the business cycle as appropriate to help businesses anticipate any challenges ahead and make the right business decisions
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