The increase in disruptive innovations across all the industries and available, easy access to resources, the small business trend is booming as we read on. It can be an exciting task for leaders with dreams. This is mainly because it usually involves individuals doing things that they are genuinely interested in or passionate about. Whatever the business situation is, you have to know and understand that a lot of startups/individual companies simply don’t make it in their initial stages.
While there are numerous reasons why these failures occur, some of them can be attributed to the fact that the certain business leader just wasn’t aware of the growth cycle of small business and its effect on the future of the company. Luckily that is why we’re here to learn so you can steer clear from making the same mistakes.
ONPASSIVE caters to small businesses that are thriving to make it to the leaderboards, with the power of AI, and we help companies enhance their potential. The predictive, intelligent platform can bridge the gap between AI and businesses globally.
Here are the five main stages businesses ought to follow to boost their growth exponentially and how our ingenious platform can help you hack your small business:
Stage 1: Existence
At this stage, businesses would face numerous challenges and become viable. Customer retention is very complicated during this stage, similarly breaking into a market with fierce competition seems almost impossible. Many factors cause havoc in businesses like lack of commitment and a reduced interest in reaching the goals assigned to the staff personally, financially, and time-wise. ONPASSIVE can help you at this stage and avoid the risk of existence. The platform offers AI solutions that can help a business secure their position at the top.
Stage 2: Survival
In reaching this stage, the business has proved that it possesses the power of a workable business entity. The firm has enough customers and offers them exceptional experiences with its solutions or products. The critical problem here at this stage is that businesses can generate enough budgets to succeed and handle the damages or replacement of their capital assets as they go down. The primary goal here is to survive, and the owner is still in sync with business growth. The platform designed to cater to businesses can help leaders swiftly pass this stage.
Stage 3: Success
The big decisions start now: Can a business remain stable and profitable or take a risk to grow more? In the Success-Disengagement field of success, your business has the advantage of economic health, right size, and power of market penetration. You can continue with the hope and not get affected by market changes that could bring down your abilities. Because the budget is available, you have to steer clear from the cash drain that would help if you want to increase your responsibilities and afford high performers. You’ll spend on an operational budget and have a plan to keep things viable. This stage can go endlessly if your niche doesn’t allow for growth. Our intelligent platform can help you choose the Success-Growth sub-stage.
Stage 4: The Take-Off
This stage is where business flourishes, without pushing. Enterprises need an increase in capital to manage the volumes of customers that they have gained. This means it is essential to bring more staff, bring in more equipment and materials, and build more effective processes and systems. At this stage, businesses have the option of growing from a small business to a larger company. Our extensible platform can help companies to boost the process of transformation.
Stage 5: Resource Maturity
The biggest challenges businesses face at this stage are streamlining and handling financial gains from rapid growth and gaining the advantage of being small, including having the power to respond quickly to the changing environment in the business and grasp an entrepreneurial spirit. Management and systems need to be swiftly changed to ensure that the company avoids inefficiencies resulting from fast growth. There are numerous ways ONPASSIVE can help businesses hack their growth in this stage.
Stay productive with ONPASSIVE while providing ground-breaking tools enabled by up-to-the-minute AI applications allowing your business to increase the momentum in this fast-paced world. With business automation, you can help your small business without any hassle and build a steady yet exponentially flourishing growth.