Every business has a life cycle. If you understand this cycle, your business will thrive and survive over many, many years. If you don’t learn
life cycle of a business, you won’t have one for long.Based upon your business’ current stage, one strategy of growth will be better than another. There are seven stages associated with
life of an online business. Let's call them:
·The Labored Beginnings ·The Toddler Stage ·The Adolescent Stage ·The Troubled Teen Stage ·The Young Adult Stage ·The Maturity Stage ·Death or Renewal Stage
The first stage of your business,
Labored Beginnings Stage, is
most difficult stage. In this stage you will be building
foundation of your business. With a shoddy foundation, you will have a stillborn business. With a solid foundation, your business will experience a long and healthy life.
In this stage, you need to decide on
focus of your business, its product, its business plan, its marketing plan, financial decisions, its legal form, and then launch
business. Many sleepless nights will accompany this stage. You may wake up in a cold sweat wondering what
hell you are doing. In this stage, your emotions will swing between unbridled optimism and heart palpitating fear.
Having successfully navigated
first stage, your business will grow into its next stage,
Toddler Stage. In
Toddler stage, your business is just finding its legs. It takes a few steps forward. It takes a few steps backward. It occasionally falls on its butt.
In
Toddler Stage, you are going to start selling your product on eBay™ . eBay™ is by far
largest online auction site. If you want to make a good living selling online, eBay™ is
place to start. In this stage, you will fully establish yourself as an online seller. You will observe powersellers,
elite of eBay™. They are your models. Learn all you can.
In
Toddler Stage you should also begin to develop
first stages of your marketing plan implementation, including
use of business cards and starting to compile a mailing list. As we leave
Toddler Stage, your business is starting to roll now. The Adolescent Stage is where your first major growth spurt will occur. You should begin to increase
number of auctions you are running at eBay™. You will add auction management to assist you in managing a larger selling load. You need to establish your domain level web site and step up your marketing efforts.