What Strategies Are Effective During the Growth Stage?
In the growth stage, your business starts to gain traction and expand. The primary focus shifts to scaling operations, increasing market share, and optimizing processes. Important questions include:
- How will you manage increased scaling? - What systems and processes need to be in place? - How will you maintain quality while growing?
Investing in technology and building a strong management team are critical during this stage. Additionally, consider exploring new markets and diversifying your product lines to sustain growth.