{"id":3843,"date":"2022-05-03T11:44:39","date_gmt":"2022-05-03T09:44:39","guid":{"rendered":"https:\/\/wyseminds.com\/blog\/wtf-are-growth-phases\/"},"modified":"2024-05-10T09:21:59","modified_gmt":"2024-05-10T07:21:59","slug":"wtf-are-growth-phases","status":"publish","type":"post","link":"https:\/\/wyseminds.com\/blog\/wtf-are-growth-phases\/","title":{"rendered":"WTF are Growth Phases?!"},"content":{"rendered":"

Your business is unique, but business growth is not. There are trends, patterns, and common experiences, and we can use this knowledge to our advantage.<\/span><\/p>\n

Wyseminds<\/a> combined the lived experience of entrepreneurs who have grown their own businesses with established growth theories (such as Adizes\u2019 Organisations Lifecycle<\/a>s, Greiner\u2019s Growth Curve<\/a>, and the Stages of Small Business Growth<\/a>) – and we identified the most important phases of business growth.\u00a0<\/span><\/p>\n

5 phases of business growth<\/strong><\/h2>\n

These phases are; Forming, Survival, Establishing Ground, Seeing Success, and Keeping Growth. \"Wyseminds<\/span><\/p>\n

But how do you know what phase you are in? Well, each phase is distinguished without any measure to do with size, money, or how long you\u2019ve been in business for – instead, it\u2019s all about your position in the market.<\/span><\/p>\n

Forming<\/span><\/h2>\n

In this phase you\u2019re just getting started. You (and maybe just a couple of other key partners) are developing your first product\/service, and you\u2019re dedicated to proving the need for your new and unique offering.<\/span><\/p>\n

Survival<\/span><\/h2>\n

In this phase you properly begin to sell. You need to make this work, and as you\u2019re saying yes to every sales opportunity you\u2019re also beginning to improve your offering based on customer feedback.<\/span><\/p>\n

Establishing Ground<\/span><\/h2>\n

You\u2019ve survived, and now is the time to grow! In this phase you begin to deliver your offering at a larger scale, perhaps with added extras, and your team is developing more defined roles and functions to support this.<\/span><\/p>\n

Seeing Success<\/span><\/h2>\n

This phase has 3 parts. It begins with a period where you are in a kind of holding pattern – called \u2018<\/span>In Progress<\/span>\u2019 – where you are well established, with good returns and a healthy market position. But if you want to grow further from here, then it\u2019s usually a choice between two directions;<\/span><\/p>\n