BUSINESS REVIVAL

It is important to know that businesses grow through six stages. 

Stage 1 - Existence

Stage 2 - Survival

Stage 3 - Success

Stage 4 - Take-Off

Stage 5 - Maturity

Stage 6 – Reinvention

In the early stages of business growth, a good strategy can be helpful. However, there are often few new decisions to make, and a business owner spends most of their time working in the business. As a firm enjoys more success, with the right strategy, it can eventually take off and become a mature business. As each business grows, the number of decisions required expands rapidly, and the business owner needs to work 'on the business' and not in it. 

After speaking with business owners and leaders at the Hilton Cairns last month, it was clear that some mature tourist-related Cairns and Port Douglas businesses had slipped back into survival mode and had come along to learn the six-steps of the Strategic Mindset Process to help revive their business. 

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