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CUSTOMER INSIGHT: Business lifecycles


Just as people go through distinct life stages, so do small businesses. Moving through these stages can lead to different challenges and changes in behaviours, which is essential for a business if it is to move to the next stage and continue to grow.

Many small businesses start with one person and a large proportion stay that way for the life of the business. This can be because this kind of business-starter is a loner and not that interested in working with others. For this kind of person - and business - it is often a mistake to think of success in terms of traditional measures of business growth. Not having to deal with other colleagues is instead a powerful measure of success.