How to Develop a Food Brand in the UK
Dave Christie - 18.01.2023
A better business tomorrow starts with YOU today
Though small businesses vary in type, organisational structure, and management style, five common features of all growing small businesses can be identified. Researchers Neil C. Churchill and Virginia L. Lewis first researched these stages, and I’ll be explaining these in this blog.
The first stage is about obtaining enough clients and selling your services enough to become a viable business. The key aim at this stage is for the business to simply exist, to be alive.
The aim of the next stage, survival, is to generate enough cash flow to at least break even after paying the expenses, including rent and wages.
When the business has sufficient market penetration to make average or above average profits, it is at the success stage. This is when the business owner is faced with a key issue of whether to expand.
This stage is one of rapid growth. It is a time when the business owner cannot handle the complex nature of the business organisation on his or her own and needs to delegate management tasks.
Once the business is mature, it is still a small business but is steadily growing at a comfortable rate.
At all these business growth stages, there are challenges. Many start-up businesses fail to go past the survival stage. Competitors will likely try to harm rapidly expanding businesses. Recruiting and poor management harms a business, while investing too much and too soon in rapid expansion threatens cash flow.
At Cheshire Business Coaching, we’re here to guide you through all the stages of your business growth. Arrange a consultation with us today to start your business coaching journey.
Dave Christie - 18.01.2023
Dave Christie - 18.01.2023
Dave Christie - 18.01.2023
For the last few months, I’ve been meeting with Dave Christie from Cheshire Business Coaching who is a remarkable business coach specialising in working with small and medium sized business and helping them achieve growth.
Dave has been an incredible support to me, helping me to gain crystal-clear clarity on my business and personal goals. His expert insights and unwavering support have empowered me to take focused actions that are driving my business forward.
My Monday morning TOG meetings are a gift to myself and they’re the most important couple of hours in my working week. They represent valuable time where I put my phone on “Do Not Disturb” and just focus on me and my business. A huge thank you to Dave for all his support and effort over the last few months and I’d highly recommend him to any “solopreneurs” or small business owners that are looking to achieve more!
Book your FREE 60 minutes in my calendar by clicking the link below