Business growth is the desire of every business owner but understanding the major phases that affect business growth is also important. We looked at the Rapid growth phase, today we would take a look at the plateau phase. This refers to a period of zero or very limited growth that continues for a while.
Factors that initiate this phase could be a change of strategy, change in market tactics, technological changes, staffing, pressure from competitors, and refusal to evolve, just to name a few. The Plateau phase can be turned around when issues holding back growth are reviewed and resolved.
Every business hits such growth curves! How you handle the situation would determine the outcome. Is your business at the plateau phase right now?
You must handle it as a learning curve. Time to learn new methods, embrace knowledge, evolve and restrategize! Always have it mind that phases changes like season changes!