The Business Life Cycle
Much of a business's life cycle depends on the goals of the entrepreneur as covered in the Entrepreneurship module.
The life cycle curve of a business looks similar to a product's life cycle curve.
It has four business phases: start-up, growth, maturity, and decline.
As the business matures you will want to consider whether you want to
- continue running it
- bring in partners or family members
- sell it, or
- close it down.