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Charting Your Business Timeline – Year 1: Starting Up

Most of the businesses start in the same way. First you find an idea for a product or service. Based on the idea you think about the product or service. Next comes the plan for your business. The plan includes many things- how to create the product, develop the service, find out the facilities, find and hire people, get the money, develop a system, market and deliver the product or service.

This is the time when you start you operation and try to establish a foot in the business. It has its own challenges. Once you start working, your similarities with other businesses end and then you go on your own way. But still there are many similaries with other startup remain present. Like any other new startup, you tend to face consistent set of future challenges. As you move through the business , you will face and overcome obstacles in different aspects of business-planning, hiring, systemizing, growing, evolving and exiting the business.

You can know about the probable challenges depending on your business’s timeline. Based on whether you are a startup, in the growing years (2-5 years), refining your approach (5-10 years), maturing (10 years on) or in the final exit stage, your set of problems will be similar. There were startups that went through your stage, they faced similar problems and they found out some solutions to these problems. These solutions are tested and effective and you can use them for your own business.

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