Startup: Bringing your business idea to life.
Growth: Consumers know about you and your revenue is increasing.
Maturity: More brand awareness and a strong presence in your target market.
Renewal or Decline: While every business wants to avoid a decline, it’s bound to happen to almost everyone. Reinvesting in your company can result in its renewal -- or decline can happen for a variety of reasons:
- Not pursuing opportunities to expand during the maturity stage
- Changes to the industry that require a change in strategy
- Competing businesses having better products or services
- Not reacting to technology updates or advances
https://www.thehartford.com/business-insurance/strategy/managing-growth/4-stages-business-growth