Stages of business growth, should wealth and taking profit be the last?
Hello Hive.
The aim and purpose of every business is to make profit and generate wealth in the end.. I can remember vividly how one is taught that business ought to grow in stages.
Nobody is expected to take profits in the early stage of business creation, rather the quest to grow a name, standard, ability to pay workers and compete successfully in a larger market takes priority.
When starting any business there are always some initial challenges and the least amount of years required to overcome these challenges starts from 5years and above.
There exist 4 or more stages of business growth depending on individuals.
The startup
Growth
Maturity
Renewal
At these different stages the experiences differ like the startups that requires alot of effort, experiment and practicals to decide on which products or services best satisfies customers and the manner this is desired.
Businesses are expected to grow and be successful, at this point a company might consider taking a loan to expand their productivity.
And just when a company feels satisfied at the maturity stage and level of progress some businesses collapse because of varying factors including taking too much profit.
Some business owners exclude themselves from receiving salaries or wages until the latter stage of their business. While others believe that every profit that enters a business should be eating right
Taking excess profit from every business is the easiest way to run such business to extinction.
Once a business has a good footstool among a global competitive market that is when the owners of such business ought to think of how to use such business for generating wealth.
Hence every business is expected to grow in stages if wealth generation is the ultimate goal but does a crypto business or Investment grow in stages?
Posted Using LeoFinance Beta
PIZZA Holders sent $PIZZA tips in this post's comments:
@pixresteemer(2/5) tipped @monica-ene (x1)
Learn more at https://hive.pizza.
Very insightful.Very good.