Business Lifecycle Training – Supporting SMEs to understand challenges of each stage
The pertinent question most business people often ask: ”What is it that you wish someone had told you right at the beginning of your entrepreneurship journey?” It is known that about 70% of SMEs in Uganda die before their 5 th birthday.
To answer this question, E360 developed a simple yet very effective preview to the entire business lifecycle covering the 5 stages of preparation, start up, growth, maturity and decline. The training provided an insight into the challenges faced by businesses at every stage and proffered solutions that will help all SMEs understand and overcome the challenges.
The delegates were prompted to identify where each of their businesses are currently, pre-empting the pitfalls at every stage to increase the chances of success.
The delegates understood how to use the business life cycle as the basis for their strategy formation to remain competitive while adjusting their leadership approach to remain relevant to the times.
The delegates were introduced to the basics of the workshop. A full blown workshop is planned for March 2020.