Continuous business development
Business is never complete – it develops together with the entrepreneur, customers and the operating environment. Continuous development of a company might mean reforming services or products, sharpening marketing, strengthening responsibility or changing the business model. Sometimes development is related to growth or internationalisation, but it often involves small improvements that require everyday insights.
The different stages of entrepreneurship also require anticipation and decisions. Do you want to continue as a sole entrepreneur, expand into a team – or is time to shut down or transfer the company? Continuity of business can be achieved through transfers of ownership, corporate acquisitions or changes-of-generation. It is a good idea to plan a controlled change well in advance – it is an important aspect of entrepreneurship, not a failure.
At this stage, consider/reflect:
- Develop your business systematically even if you are not aiming for growth
- Identify opportunities and threats – monitor the market and customer needs
- Strengthen responsibility and customer understanding
- Take care of financial management also during development
- Prepare for business changes in time: sale, change-of-generation or shutdown
- Find support and sparring – you are not alone!
Learn more about the topics
Seek support for business development
There is advice and funding available from various sources for your company’s growth. The right kind of support can significantly accelerate development.
Grow through an acquisition
Buying a company or part of a business can accelerate growth. Always plan carefully and utilize experts.
Plan the continuity of business
Even for an entrepreneur, there may come a time to move on to new tasks. It’s worth planning ownership succession well in advance.
Take advantage of networks – proceed together
Good networks provide information, support, and new opportunities. No one succeeds alone, not even as an entrepreneur.
