What Are The 5 Stages Of Startup Lifecycle?

What Are The 5 Stages Of Startup Lifecycle?

1 Answer

  1. A startup lifecycle consists of the following 5 stages:
    1. Problem/Solution Fit: In this phase you come up with ideas or solution for a problem statement. The idea that you come up with should effectively solve the problem.
    2. Build your MVP: Building a Minimum Viable Product (MVP) is the second phase. This is phase for you to test and validate your assumptions related to your business idea with the smallest possible investment.
    3. Work for Product-Market-Fit: After the MVP phase you will know what changes you need to do for your final product. You will have early customers for your product after the MVP phase. Retention rate is a measure of product/market fit.
    4. Scale: Grow the sales of your products through various channels. Hire experts to operate your sales channel.
    5. Maturity: As the company matures, your growth rate may slow down. But it will not stop.
    You can refer https://medium.com/tradecraft-traction/5-phases-of-the-startup-lifecycle-morgan-brown-on-what-it-takes-to-grow-a-startup-50b4350f9d96 article for in depth understanding.

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