The Big 5 Challenges and your Business

All businesses face market challenges from time to time, it is part and parcel of being in business. However, the Big 5 Challenges are common to all businesses from the small local trader to the multinational giants and from the start-up business to the well established and thriving company.

As a company moves through its lifecycle it passes through 5 different stages (though the 5
th stage is optional). At each one of these stages the Big 5 Challenges need to be reassessed and adapted to the current needs of the business.

We have labelled these five growth stages as:
  1. Establishing an Emerging Business
  2. Sustaining Growth Levels
  3. Revitalising a Stagnant Business
  4. Turning Around a Declining Business
  5. Winding-Down an End of Lifecycle Business
If a business makes it through the first stage, it may well encounter the next three stages several times in its lifetime. The fifth stage is entirely optional. A well set-up business can decide to redefine itself before it expires and become a different or a reinvigorated business.