Eliminate Mundane Processes By Charting Your Business

How to Eliminate the Mundane Processes by Charting Your Business Cycle

Understanding your business cycle is essential to managing your business. In the following article, we’ll talk more about learning to recognize your business cycles and their importance.

All business no matter what shape or form they take, operate under certain business cycles, peak times and downturns. Your business cycle refers to all of the various trends which will occur within different industries and businesses. If you can learn to recognize what cycles your business is operating under, you will be better prepared to make economic, product and staff decisions based off of these trends.

The four major cycles which any business sees throughout its lifetime are Slowdown, Bottom, Growth and then Peak. It doesn’t matter how proactive or aggressive your business is; it will experience all of these cycles throughout its lifetime. The important thing to remember is that they are only cycles, no business can experience growth forever and at some point in its life, it will peak and then bottom out or plateau.

If you learn to successfully recognize which stage your business is, you can then plan accordingly. After all, if your business is about to peak in sales, then there is no use purchasing additional stock. Instead, you should be looking at how to minimize the fall after the peak. Not becoming heavily burdened down with the excess stock you can’t sell, instead, run at a minimum without debt from products holding you back. You want to be ready to take advantage when the cycle swings back around into growth, aggressively pursuing opportunities so your business cycle can switch back into growth.

When you understand where your business fits into the cycle you can make important decisions regarding the size of staff, downsize or upsize, take advantage of product opportunities and expansion opportunities as they are presented.

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About the Author My Banker Jermain

Jermain Pettis is a trusted commercial banker with close to two decades of banking industry experience. Jermain leverages extensive financial solution knowledge, diverse banking experience and a customer-centric approach for first-class financial advisement to his clients and prospects across multiple industries in and around the State of Georgia.

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