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Funding a business
When is best to have second business?
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[QUOTE="Richee84, post: 278242, member: 42448"] There are stages in every business, all business goes or pass through what we call business life cycle. The first stage in a business life cycle is the introduction stage also know as the early stage of that business. Each stages involved different approach and strategy to be use there. In the introduction stage the business is still trying to survive in the market. The owner must spend more money on advertisement and promotion for the product or services to gain acceptability in the market. In this stage, the business does not make any profit as the only emphasise in this stage by the owner is just for the business to survive and not profit. After the introduction stage , the next stage in business is the growth stage. Here the business has gain market share and it has start making profit. At the growth stage, profit is tend to be on the high side and it is usually advisable to expand with the excess profit been realize at this growth. It will be very easy to expand a business when the first business has reach the growth stage and is bringing in steady income from the business to the owner. [/QUOTE]
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When is best to have second business?
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