Startup is the process of setting an idea in motion. A good startup always knows what problem and why they are solving. It is successful when they have solved the problem. Usually begins with an idea, which doesn’t have any guarantee of success. Startup might be an idea discussed over cup of coffee but it is an effort put by the team keeps it thriving through difficulties. Startup is different from traditional startup because they are designed to grow fast.
The Initial stage of startup life cycle is when startup is just a thought or an idea. This is the very conception or birth of a new startup.
Startup is born and now exists legally. Services or products are in production.
Startup has made it through the toddler years and is now a child. Customers and revenues are increasing with many new opportunities and issues.
Startup has now matured into a thriving company with a place in the market and loyal customers. Sales growth is not explosive but manageable. Startup life has become more routine.
This life cycle is characterized by a new period of growth into new markets and distribution channels. This stage is often the choice of the startup owner to gain a larger market share and find new revenue and profit channels.
Year over year sales and profits tend to be stable, however competition remains fierce. Eventually sales start to fall off and a decision is needed whether to expand or exit the company.
This is the big opportunity for your startup to cash out on all the effort and years of hard work. Or it can mean shutting down the startup.