Let's not forget that each business is at a different point. There are companies that are starting, others that have consolidated and reached maturity, others that are in the process of reconversion and adaptation to the new times, and others that are no longer profitable directly. What phase is your business in?
Understanding where you are on the road will help you make the decisions you have to make. Not everyone understands this, and therefore does not know how to make the right investments. In this post we are going to show you some of the phases in which your business may be.
What phase is your business in
There are various stages or phases in which your company may be. For example:
1. You are in the process of searching for clients
You need to increase your client base, because you are just starting out and you hardly have enough income to cover the expenses of having a business and, of course, having a salary.
2. Your business is already mature, but needs to improve
You have many clients, you charge enough and money is no longer a problem. However, you have other challenges. For example, you would like to have more time, or know how to deal with an avalanche of orders. Or you would like to continue optimizing the administration of your company using specialized software. That is, assuming you have a hardware store, a hardware ERP could be the technological solution you are looking for to take stock, plan and understand what happens to your business.
3. You are in a process of reconversion
Sales have dropped, your business is falling, there are strong competitors who are taking your place. Although you were great in the past, something is wrong. If your business is in this phase, in which new technological inventions emerge and consumer tastes seem to have changed, you need to understand what the market trends are. Invest in that area that you see will work more and more, stay away from what is beginning to make no sense.
4. You have a successful business
Your company has reached its maximum splendor, but now you would like to replicate your business. Perhaps, who knows, you hope to expand or internationalize through franchises. Or you would like to open new offices in other countries, or open new lines of business a little distant from your hard core, but still related to your area of expertise.
What phase of your business are you in? What is the path you want to give your company?
