How can an entrepreneur get ready to manage growth? Essay

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Growth in Entrepreneurship
The growth phase of a business lifecycle is a phase characterized by high sales and rising profits. Not all business ventures manage to see this crucial phase of a business lifecycle, as it requires the organization to take crucial steps to attain growth. Customers are vital elements to a business venture, and for it to realize growth, customer needs should be adequately addressed. Penetrating new markets while sustaining the existing market base is a major contributor to growth. Promotional strategies such as advertising, public relations, and even personal selling can be employed to expand the market base. Product is a major component of a business venture, and entrepreneurs can leverage the product to realize growth by customizing it to suit customer needs and outshine the competitors (Van Scheers). The introduction of new products to a business venture is also a product strategy as well as a diversification growth strategy.
Growth might come pretty quick until it overwhelms...