Black Entrepreneur Blueprint: 28 - Jay Jones - The Importance of Knowing the 8 Stages of A Company's Lifecycle

BLACK ENTREPRENEUR BLUEPRINT

Jay Jones

Blackenterprise, Blackbusinesspodcast, Bestblackpodcast, Marketing, Entrepreneurship, Blackinterviews, Blackentrepreneur, Africanamericanentrepreneurs, Blackentrepreneurinterviews, Blackentrepreneurblueprint, Blackpodcastshows, Business, Blackbusiness, Jayjones, Africanamericanbusiness, Africanamericanbusinesspodcast, Denniskimbro

4.8 • 673 Ratings

🗓️ 26 January 2015

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Black Entrepreneur Blueprint host Jay Jones as he discusses the importance of recognizing and understanding "The 8 Stages of A Company's Lifecycle". From concept to exit; listen as Jay uses one of his own companies as a case study. You will gain real-life insight into the journey of a serial entrepreneur including his highs and lows as he chronicles the rise and fall of Action Mortgage.

Transcript

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0:00.0	Hello and welcome to the Black Entrepreneur Blueprint Show.
0:21.4	I am your host, Jay Jones.
0:24.4	Black Entrepreneur Blueprint was created specifically to educate and inspire black entrepreneurs to launch, build, and grow successful businesses.
0:35.6	Join us as we help build an economic power base in the black community by promoting business
0:41.4	ownership.
0:42.8	If you are currently an entrepreneur or want to be an entrepreneur, we invite you to join
0:48.6	us every week here at Black Entrepreneur Blueprint.
1:02.2	Thank you. black entrepreneur blueprint welcome to the black entrepreneur blueprint episode number 28 i'm your host jay jones and today we have another great show
1:07.5	installed for you today we're going to be going solo and this is by design.
1:13.3	I've had more than a few people ask me about the life cycle of a business. And so today we're
1:21.1	going to talk about the importance of knowing and understanding the eight stages of a business's
1:26.0	life cycle. So each business has a life cycle just as we as humans have a life cycle.
1:31.9	And what I'm going to do today is I'm actually going to take one of my former businesses,
1:36.6	Action Mortgage, and we're going to go through the actual eight stages of a business's life cycle,
1:42.2	and Action Mortgage is going to be my case study okay so
1:47.0	without further ado um the first uh cycle that a business goes through is the concept stage
1:55.1	or the development stage and this is when you have an idea uh that comes into your mind and this is your concept stage
2:04.5	so at this stage of the game right now some of your challenges are um you have to come uh overcome
2:10.1	the challenge of market acceptance does the concept make sense will people pay for your product or service?
2:18.9	Okay, so that is the concept stage slash the development stage.
2:24.6	And at this stage of the business, you're focusing on matching the business opportunity
2:29.0	with your skills and experience and passions.
	...

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