The Five Stages of Small Business Growth. Categorizing the problems and growth patterns of small businesses in a systematic way that is useful to entrepreneurs seems at first glance a hopeless task.
Small businesses vary widely in size and capacity for growth. They are characterized by independence of action, differing organizational structures, and varied management styles. Yet on closer scrutiny, it becomes apparent that they experience common problems arising at similar stages in their development. These points of similarity can be organized into a framework that increases our understanding of the nature, characteristics, and problems of businesses ranging from a corner dry cleaning establishment with two or three minimum-wage employees to a $20-million-a-year computer software company experiencing a 40% annual rate of growth.
6 Strategies for Managing a Fast Growing Company. Paul Graham once said that, "A startup is a company designed to grow fast.
" In fact, Graham goes on to say that "if you get growth, everything else tends to fall into place. " Of course, that sounds much easier said than done. Challenges of business growth. Growth adjustment can be a most difficult challenge.
It is likely to add a layer of complexity to the organisation. Growing too quickly can bring a business down, so be very sure you plan ahead and be ready for any potential upsurge. An increase in production generally moves you another step away from the general day to day running of a business. Management staff are usually employed to cover you while you report to financial investors, increase general staff and design new internal processes and procedures. 9 Reasons Why Your Business Growth Has Plateaued. Many entrepreneurs complain that their businesses are not growing as fast as they'd hoped.
They may have a wonderful product, superior customer service and a steady flow of customers -- yet their business growth has stalled. What they don't realize is that they themselves might be the ones holding their business back and causing its growth to flat line long before it's time to die. Discuss why firms grow in size. Most firms seek to become bigger – increasing sales and market share.
Firms can grow through internal expansion, external growth (merger) or diversification into related industries. The motives for increasing in size can include: Greater sales lead to greater profit, making the firm more attractive to shareholdersSuccessful, growing firms are likely to increase salaries / pay bonuses to managers.Increasing output enables economies of scale, greater efficiency and lower average costs.Increased prestige for managers seeing the firm become more influential and powerful.Greater risk diversification, e.g. when growth comes from product diversification.Growing in size enables growth in market share and monopoly power, enabling even greater profitability.Owners having a passion for their product and wanting to see it do well.Globalisation has enabled firms to sell product in global market.
Reasons for firms growing. Patents vs. Trade Secrets – Giving Your Business the Competitive Edge. When your business develops or acquires information that is not known to your competitors, you may have more than one option for protecting it.
Although federal patent law is the primary source of protection for inventors, an inventor may elect to forego patent protection and instead rely on the protection of state laws prohibiting the misappropriation of trade secrets. The decision whether to patent or keep a trade secret is an important one, and should not be made lightly. What is the difference between a patent, a trademark and a copyright? Considering how complex intellectual property law can be, it is understandable that many people – including authors, journalists, biz and tech bloggers, tweeple, etc. – confuse the terms and oftentimes speak/write of “patenting a book” or “copywriting a new gadget”.
I also receive a large number of requests asking for advice on how to “copyright an idea” – so, I thought it would be helpful to lay out a short and concise explanation of each area of intellectual property law. First, what do I mean by the term “intellectual property”? According to Tech Terms Online: 10 Ways to Protect Your Intellectual Property. How important is intellectual property protection to your startup?
Not too long ago, defensible IP was one of the top things venture capitalists wanted to see in a startup. But the success of several high-profile tech startups, such as Twitter and Facebook, that are relatively weak on patentable intellectual property, has caused many to rethink that assumption. How To Protect Your IP When You Are A Startup. Disclaimer: This is in no way legal advice for intellectual property.
I am not an attorney nor is this legal direction for your business. Consult an attorney regarding any questions about your specific intellectual property. This article is meant to help you understand how you can talk about your business without exposing trade secrets. Every entrepreneur remembers a time when they thought their idea was so great that they needed to protect the idea. Why you need to protect your Intellectual Property - The British Library. Top Signs Your Brand Strategy Is Losing Focus. August 26,2016 By Claire Holland, agencyEA As a company’s marketing strategies adapt to changes in the marketplace, there’s always the possibility that its established brand will suffer.
By its very nature, a brand must balance legacy — what it stands for today and what it’s stood for in the past — with vitality — how it can be revived and refreshed as new conditions demand. Under such circumstances, it’s not hard to lose focus on a brand’s core identity. The Difference Between Sales and Business Development. Almost daily, I run into the misconception that the function of sales and business development are interchangeable, from co-workers to industry peers. This stems primarily, I believe, from the shift in titles of salespeople to business development -- which has been done in an effort to avoid the negative connotation that surrounds it. In reality, the two are very different. Hence, this tweet. Forbes Welcome. The 7 Steps of the Sales Process. The BEST way to get to know me. 1. Product Knowledge This step is fairly straight forward, but it is also the great undoing of many a technical expert turned sales person.
When one is extremely well versed in a particular product especially a technical one, it is easy to get caught up in a monologue of all the great features it provides. The technical expert turned sales person is so eager to explain how the product works or why it’s unique that the benefits to the customer are left out of the discussion. Creating a Sales Process: The Ultimate Guide. What Is a Sales Process? Everything You Need To Know What Is a Sales Process? Debt Financing - Small Business Encyclopedia.
Definition: A method of financing in which a company receives a loan and gives its promise to repay the loan . Debt financing includes both secured and unsecured loans. Security involves a form of collateral as an assurance the loan will be repaid. If the debtor defaults on the loan, that collateral is forfeited to satisfy payment of the debt. Most lenders will ask for some sort of security on a loan. Equity Crowdfunding Could Be Dangerous for Investors and Entrepreneurs. In the very near future, equity crowdfunding will no longer be reserved for the ultra-wealthy. That’s thanks to the Securities and Exchange Commission passage of Title III JOBS Act, which goes into effect May 16.
It’s a turning point for entrepreneurs and investors alike. Equity Financing - Small Business Encyclopedia. Bootstrapped Vs Funded Ventures: Which Startups The Best? 12 pros and cons of raising money vs. bootstrapping. How to Know If Your Business Should Have an S-Corp Strategy. What Are Four Primary Forecasting Techniques? How to Write the Financial Section of a Business Plan. Preparing Financial Statements. Financial Statements for Business Plans and Startup. Founders’ Agreements – Startup. Importance of Business Ethics and Corporate Social Responsibility. Choose Your Business Structure. Choosing Your Startup Team Wisely.
The Importance of Ethics in Organizations. “Competitive Intelligence” Shouldn’t Just Be About Your Competitors. Problems of declining industries. BUSINESS PLAN METHODOLOGY. Marsdd. How to Conduct and Prepare a Competitive Analysis - Edward Lowe Foundation. Planning key to growth beyond first business years. Steve Blank: The Customer Development Process. Tips from SCORE: Business planning - News - capecodtimes.com - Hyannis, MA. Lean Startup and Design Thinking: Getting the Best Out of Both. What should everyone know about the Business Model Canvas? - Quora. What is customer development? What the Olympics Can Teach Us About Small Businesses. Or Watch Your Business Derail. Why You Should Follow Your Instincts to Do Something Different. Target Market Analysis: How To Define Your Target Market And Sell More Products Easily. How to Research Your Market for Business Startup.
Untitled. Derek Sivers: How to start a movement. Problem Solving, Investigating Ideas and Solutions. What Makes A Great Business Opportunity Vs. A Great Meeting. 'A business idea may or may not be a business opportunity' 8 Successful Entrepreneurs Give Their Younger Selves Lessons They Wish They'd Known Then. What Inspired 10 Successful Entrepreneurs to Become Entrepreneurs. Facebook's Mark Zuckerberg says the most successful entrepreneurs share 3 traits.
33 Entrepreneurs Share Their Biggest Lessons Learned from Failure. Why do people become entrepreneurs? Educating, Inspiring, and Connecting Entrepreneurs. 5 Smart Ways to Integrate Cross-Promotion With Online Marketing. 25 Common Characteristics of Successful Entrepreneurs. The One Mind Shift Entrepreneurs Need to Make to Be Successful. Meet Spark Entrepreneurs who lead their societies into prosperitySpark.