6 BUSINESS PHASE 5
GENERATING GROWTH: The 3-Step Plan to Innovation, Joint Ventures, and Strategic Partnerships
Early in my career, one of my mentors told me something that changed forever the way I look at the life cycle of a business. I had always assumed it took several decades—or at least one decade—for a company to fully mature, but this wise, successful businessman told me that if your company hasn’t taken off in seven years, don’t spend another day trying to make it happen; shut the doors and bar the windows immediately.
At the time I thought he was crazy! Today, in my own experience, I often tell people, “If your company hasn’t exploded in three years, shut it down immediately. Go put your money and time into something with more potential, ...