This is an example of a yearly business growth timeline. Every firm, no matter how large or little, passes through four stages of development: startup, growth, maturation, renewal, or decline. Each stage of the business life cycle, also known as maturity phases, growth phases, or growth stages, has its own set of obstacles that must be solved creatively by your company. During the startup period, you devote the majority of your time and energy to bringing your business concept to reality. Staying focused on your company goals throughout the second phase might be difficult. For some business owners, the mature stage may prompt them to consider selling, merging, or purchasing another firm in order to expand. It may be hard to discern if your company is successful. Feel free to edit this template and create your own diagram in EdrawMax.