by Alan Hargreaves in Flying Solo
Like many other aspects of life, business is full of cycles. Being aware of the business life cycle you’ll be better equipped to respond, and to reignite your energy during the inevitable downward turns.
As the recent GFC has shown, the economy moves in cycles, with a recession and subsequent recovery roughly every five or six years. There’s the life cycle of your products, which don’t remain fashionable forever. There’s also the life cycle of your business: it might begin as an exciting start-up but in most cases, decline is probably out there some day.