Business Life Cycle

From Vanilla's Accounting Blog comes this interesting article that explains the five phases in the life of a business. According to the article:

"There are five distinct stages that businesses go through as they mature. Each stage of the cycle poses a different set of challenges and requires the owners to apply a different set of skills (and conquer a different set of frustrations) in order to ensure the success of the business."

The five stages are Existence, Survival, Success, Take-off and Resource Maturity.