At this initial stage, the business is focused on proving its concept, establishing a customer base and achieving a sustainable cash flow. The primary goal is to survive, develop an initial product or service and start bringing in revenue.
For example, a startup in its infancy might spend the majority of its resources developing a minimum viable product (MVP) and getting early customer feedback. The focus here should be on direct customer engagement, refining the product or service and managing costs to stay operational.
If survival is the focus, it’s important to avoid costly expansion or excessive spending. Your key takeaway at this stage is to validate your business idea, secure a few loyal customers and keep operations lean. Staying adaptable and resourceful will position you for the next phase.
Stay updated! Subscribe to the ELISA weekly newsletter.