bud genius inc is no different then any other company out there. there are three main stages of a company growth. bud genius is entering the stage of adult hood witch includes The focus is on cutting costs, gaining and keeping market share and exploring opportunities for business expansion, geographic expansion or both.
The Stages of Company Growth
by Renee O'Farrell, Demand Media
As companies grow, they pass through stages in predictable ways. While each may pass through the stages of growth at its own unique pace, all companies go through these stages, in much the way a person passes from infancy to adolescence to adulthood. Each stage of growth has its own challenges and focus.
Start-up
All companies start somewhere. Many begin as just a seed of an idea; they are the brainchildren of would-be entrepreneurs and constitute little more than a few prototypes and a business plan. Some pass through this stage quickly, others take longer but the result is a start-up company. In this stage, the company comes into being. Financing is secured, even if it is out of the owner’s own pocket, a legal structure may be formalized, business cards are printed and there is a focus on acquiring, and keeping, customers. Organization is usually very simple; frequently, it involves the owner acting as manager. This is the “make-it-or-break-it” stage. It involves lots of trial-and-error as the company establishes its customer base, pricing and marketing strategies and procedures.
Establishment
If a company makes it through the awkward birth and adolescence of its beginnings, it progresses to a stage of growth where it moves to establish itself in its industry. This may involve some growth, but mostly, in this phase of company growth, the company is focused on how the business is run and developing methods that will help it survive and thrive. This stage of company growth is much like young adulthood. Systems of accounting and inventory management become more elaborate and more organized, new employees may be hired, some processes may be outsourced and better business practices are adopted. The company’s focus is on finding what works and what methods deliver the most value to the company. At this point, many companies need to find external financing.
Adulthood
After a company establishes itself, it reaches a point akin to adulthood. People in adulthood choose to either grow and expand their respective assets and operations or opt to maintain a lifestyle, perhaps even living paycheck to paycheck and companies follow similar patterns. The focus is on cutting costs, gaining and keeping market share and exploring opportunities for business expansion, geographic expansion or both. The company starts to rely more on external financing for expansion or even survival. While not all businesses make it to this point, those that do enjoy a measure of success.
T he Turning Point
At some point after the company becomes well established, it will reach a turning point. Its business and market share may start to decline, requiring more investment if it is to retain its market share and profits. This could require equipment upgrades, remodeling or expansion. Imagine this as the time leading up to retirement. A person either stops working and enjoys a time where he has stability and maybe less income, or he pushes everything into investments, focusing on growing his wealth dramatically by using retirement savings to purchase rental properties or upgrading his home to increase the resale value. It is a time of tough pivotal decisions.
reference source
http://smallbusiness.chron.com/stages-company...10202.html
The Stages of Company Growth
by Renee O'Farrell, Demand Media
As companies grow, they pass through stages in predictable ways. While each may pass through the stages of growth at its own unique pace, all companies go through these stages, in much the way a person passes from infancy to adolescence to adulthood. Each stage of growth has its own challenges and focus.
Start-up
All companies start somewhere. Many begin as just a seed of an idea; they are the brainchildren of would-be entrepreneurs and constitute little more than a few prototypes and a business plan. Some pass through this stage quickly, others take longer but the result is a start-up company. In this stage, the company comes into being. Financing is secured, even if it is out of the owner’s own pocket, a legal structure may be formalized, business cards are printed and there is a focus on acquiring, and keeping, customers. Organization is usually very simple; frequently, it involves the owner acting as manager. This is the “make-it-or-break-it” stage. It involves lots of trial-and-error as the company establishes its customer base, pricing and marketing strategies and procedures.
Establishment
If a company makes it through the awkward birth and adolescence of its beginnings, it progresses to a stage of growth where it moves to establish itself in its industry. This may involve some growth, but mostly, in this phase of company growth, the company is focused on how the business is run and developing methods that will help it survive and thrive. This stage of company growth is much like young adulthood. Systems of accounting and inventory management become more elaborate and more organized, new employees may be hired, some processes may be outsourced and better business practices are adopted. The company’s focus is on finding what works and what methods deliver the most value to the company. At this point, many companies need to find external financing.
Adulthood
After a company establishes itself, it reaches a point akin to adulthood. People in adulthood choose to either grow and expand their respective assets and operations or opt to maintain a lifestyle, perhaps even living paycheck to paycheck and companies follow similar patterns. The focus is on cutting costs, gaining and keeping market share and exploring opportunities for business expansion, geographic expansion or both. The company starts to rely more on external financing for expansion or even survival. While not all businesses make it to this point, those that do enjoy a measure of success.
T he Turning Point
At some point after the company becomes well established, it will reach a turning point. Its business and market share may start to decline, requiring more investment if it is to retain its market share and profits. This could require equipment upgrades, remodeling or expansion. Imagine this as the time leading up to retirement. A person either stops working and enjoys a time where he has stability and maybe less income, or he pushes everything into investments, focusing on growing his wealth dramatically by using retirement savings to purchase rental properties or upgrading his home to increase the resale value. It is a time of tough pivotal decisions.
reference source
http://smallbusiness.chron.com/stages-company...10202.html
