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Being successful will mean different things to each person and the pictures of success will change as you go through different stages of life. Just as life has different stages, every small business will go through different stages of growth.
In an article on studies of small businesses for the Harvard Business Review, Neil C. Churchill and Virginia L. Lewis found that small businesses experience five stages of growth.
Each stage will have areas that have key factors to overcoming those stages. This article will examine them from a farrier’s viewpoint.
There are also eight key management factors that affect success or failure. Four of the factors are related toward the business and four toward the owner. These factors play an important role because your response could determine your advancement, if in fact that you do.
The business-related factors are as follows.