It was their founders' own bad choices or lack of preparedness rather than so-called "bad luck" or market conditions that were out of their control. Indeed, different approaches are required for market penetration versus, for example, what may be required to achieve growth or retain market share.Īccording to the recent Startup Genome Report, an estimated 90% of those startups that fail do so primarily due to self-destruction. You will have to be flexible in your thinking and adapt your strategy as you move along. While it's fair to say that business is never not challenging, a look at each of the stages of the business lifecycle highlights a unique set of obstacles to deal with and overcome. From the moment you make the decision to set up a business, you're in the "business lifecycle." This will see you journey from idea to startup, and if successful, through to the growth and maturity phases.
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