Hey indiehackers community! π
Ever wondered about the different stages businesses go through? Let's dive into the evolution of a business and where yours might be right now. π
-Priority on acquiring customers
-Continuous investment
-Business model is unclear and wishful
-Workable business model in place
-Facing cash flow challenges
-Primarily focused on financial planning
-Profitable business
-Business owner either leads functional teams or personally handles certain --business functions
-Functional heads drive business operations
-Owner gains independence
-Owner focuses on strategic growth
-Experiencing rapid financial growth
-Decentralized management
-Business owner takes a back seat
-Growth is system-driven
-Brand recognition is widespread
-The legacy of the business continues
Which stage resonates with your business right now? Share your thoughts and experiences! π€β¨
Love your insights. Thanks.
Thank you so much, Happy to know it helped ( :
Great work, @istiakahmad! π You've managed to break down the growth stages of a business in an informative and well-structured article. Your valuable insights have certainly added a lot of value to the IndieHackers community. Kudos! π
Hey Man, Thanks, Happy to know that it valued you (: π
Hey man! I'm starting a new ai startup and rightnow we are in early stage and I'm super confused about getting people in the wait-list any suggestions that you would want to give?
Hey man, First off, big congrats on kicking off your AI startup journey! Here's a quick tip: if you've got an MVP or a snazzy product with just the essentials, consider giving out free trials or beta testing. People really grasp the value after a hands-on experience.
And to get folks on your waitlist, you gotta reach out to your targeted prospects. Cold emails work wonders, and join platforms like Product Hunt and start mingling! The more you engage, the more leads you reel in. Just remember, it's a marathon, not a sprint. Consistency is key, and having a long-term game plan is gold. I hope this make sense to you.
If you ever want to chat more about this feel free to reach out to me ( since i love networking with founders ) and i would love to discuss with you ( 100% free ). Thanks
Thanks! I'll definitely contact you
ππ
What would be key difference between Step 1 and Step2?
At the stage of struggle, entrepreneurs or business owners believe everyone will flock to buy their product or service, and the money will roll in. But reality hits rejections, doubts, and desperation kick in. Your focus shifts to just getting customers to prove your business works. Many entrepreneurs forget to improve their product. They brush off feedback, thinking others just don't get it. With a wishful business model and an unclear target audience (when everyone is your customer, no one is), you're stuck in the struggle phase.
This is where businesses often crumble. Entrepreneurs drain savings to keep the business alive which results in shutting down the business and most businesses die in the stage. So this is the stage of struggle in business.
On the other side Survival stage in business is a tricky one, You've got a workable model, but cash flow is not consistent. Because at this stage the owner is mostly doing everything, and as the owner is busy in projects and marketing and sales is not consistent. Most Business owners get caught in this loop, juggling everything, even with a team in the wings. It's a hand-to-mouth game and 99% business owners live in this trap of survival for the rest of their business life.
I hope this clears your understanding of the difference between stage 1 and stage 2. Feel free to ask me more question if you have any. Thanks π
Fantastic breakdown of the business evolution stages! π
Hey man, thanks a ton for the awesome feedback! Glad you enjoyed the breakdown of business evolution stages. If you have any insights or experiences to share from your own journey, we'd love to hear them! π