Which phase is your business in?

Over the past ten years I have managed my own businesses and blogs, I have taught hundreds of businesses how to launch and market their businesses online, and I have worked one to one with a handful of clients too.

I have been thinking back over the years and have noticed that all of those businesses, including my own, can be categorised as being in one of the following four phases; Survival, Launch, Development or Growth.

Each phase requires a different type of marketing and a different focus as your goals and budget will depend on the phase you are on.

Which phase is your business in?

Small Business Survival

The survival phase incorporates those businesses that are struggling to get a foothold or have found their business in decline. You may have done no marketing at all, or you may have done a bit but you have never been able to pull together a marketing system that allows your business to gain any traction. You may have a few customers, or you may be sitting waiting for the phone to ring. Each day you may be wondering whether you should give up and whether there is any way to make your business work. You may feel stuck, you want to make a success of your business, but you don’t really have the money or confidence to invest at this stage.

Small Business Launch

The launch phase can relate to the initial launch of your business, a relaunch, a launch of a new location/premises or a major product launch. The launch phase requires a specific type of marketing that focuses on managing momentum and ensuring the campaign reaches its peak at just the right moment.

Small Business Development

Businesses that are achieving some success but are not yet the market leader or contending for that position can be defined as being in the development phase. It may be that you have several parts of a marketing system in place, but there is plenty of space to improve and refine. You are almost certainly missing areas where you could be making more money, as well as untapped marketing opportunities. This phase is all about taking what you have created so far and turning it into an efficient and effective system that will allow you to make a bid to become one of the leaders in your market.

Small Business Growth

Businesses that are the market leader or contending for that position should be in the growth phase. Your system is in place and it’s working, but you know you can’t rest on your laurels. The key here is to keep innovating and refining your system to stay ahead of competitors.

Which phase is your business in? Are you marketing appropriately for that phase?