Take-off phase
The take-off phase is characterized by a sharp increase in sales. The dominant goal is to capitalize on your competitive strength. You will probably find it necessary to invest in more resources to support the increased sales, which may aggravate any lingering cash-flow problems left over from the start-up phase. After an agonizing period of uncertainty, the business finally turns the corner and starts to show a profit. However, overwork and stress may start to take their toll unless you learn to be selective about how you use your time and outsource those activities that you cannot or prefer not to do yourself.
· Growth strategies are designed to significantly and permanently increase the level of sales. The rapid increase in sales means that you will need to invest in more resources to support greater sales volume. Growth strategies include making sophisticated refinements to your competitive strength to meet any competition that is attracted by your success.
· Concentration strategies are designed for recovery if a growth strategy falters because rivals have damaged your competitive strength. The objective is to refocus your efforts on a slightly different target market in order to improve short-run cash flow and long-run profits.
