There is generally an agreement about the middle three stages, also commonly known as: Start-up, Growth and Maturity. But even before the start-up stage, there is preparation that includes Idea Generation and Confirmation. And after a business has reached the maturity stage, it may still need to either Renew itself to stay relevant or face Decline and Collapse. These are the additional two stages; before and after. At any given point in time, it is of critical significance to acknowledge the stage that your business is in. This will help to streamline your resources to the right focus area, and to manage your business risk optimally.