What are the stages of entrepreneurship?
Asked 2 years ago
What are the different phases, and will reaching each stage guarantee success?
Jolina Regin
Friday, January 14, 2022
There are 5 stages of a business the ideation stage involves identifying a problem or a gap in the market and finally coming up with the million dollar idea. The execution stage involves implementing the idea and determining the success and growth of the business idea.
In the hyper stage, the company is rapidly growing which could mislead entrepreneurs to think nothing could go wrong but it's the point they need to be cautious. In the prime stage, the company has passed the survival stage and is now stable, and has predictable revenues.
Finally, the decline stage the company is facing a lot of competition, or a better idea has come up and it's unable to fix its problems.
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