What are the 3 Stages of Company Growth?

Eventually, every successful company becomes a customer service company.

As a company grows it goes through a number of step changes which require its CEO to think very differently. Take for example a manufacturing company.  

The first stage of growth is getting to product/market fit. And, often the term ‘minimum viable product’ is used to describe this. This is where the first mistake happens. Too often the company sees itself as a manufacturing company and then it doubles down on R&D to make the product even better. Instead, they should move to the next stage.

The second stage is marketing and sales. This is where the company needs to excel in creating awareness and recruiting new clients. At this stage the company often settles into being in the marketing and sales business. Instead, it should be moving to the next stage. 

The third stage is customer service. This is where your brand is awesome, your large client base is so happy with what you do that they keep buying from you and they tell others to buy from you as well. 

As an owner, where is your comfort area?  

• Are you stuck in Stage 1 and wondering why you can’t generate enough revenue? 
• Are you a dyed in wool the ‘Stage 2’ marketer wondering why you have high client turn over? 
• Or have you achieved Stage 3 where every day is full of sunshine and roses? (Ok maybe that’s a bit extreme but you get the pointJ )
  

 Does this resonate with you? 

 Is your company stuck at in of these stages?

I’d love to hear back from you on this.

Talk to you next time.

Andrew