🔄 Business Cycle and Growth
An entrepreneur or a group of individuals come up with a business idea and start a venture. The business is successful in atrracting customers and gains foothold in the market.
The business grows through increased custom
- Manufacturing has to be scaled, word of mouth increased custom.
The business continues to grow locally/nationally
- There may be need to create satellite units to save on logistics costs or recap benefit of local savings.
If the products are suitable to be sold internationally, the business grows outside the country
- Logistics partner is signed up to hande shipping and handling
The business goes global and international sites are created in different countries/regions
- Some local customisation of the product attracts more localised customers.
Local Customisation
Change of colours or specifications to make it better suit the city/county