Important Considerations during Business Growth

• Industrial life cycle
• Product life cycle
• Entrepreneur's resources

Industrial Life Cycle

It refers to the evolution of industry through 5 stages based on business characteristics commonly displayed in each phase. - Introduction - Growth - Shakeout - Maturity - Decline

Product Life Cycle

• Introduction
• Growth
• Maturity
• Decline

Entrepreneurial Resource

Assets, both tangible and intangible that are mobilized by entrepreneurs in the process of building a business, organization or other initiative. - Entrepreneurial intuition - Knowledge and information - Business/brand - Team - Financial resources - Technology - Customers - Networking