The startup stage is the second phase of your business’ life cycle and the most pivotal, scary, and touch-and-go piece to the puzzle. The reason we say this is because you are graduating from the “idea” stage and officially launching your product or service. That means it’s out there for the masses to consume – for better or for worse.
The startup stage is relevant because everything at this point in the game is in flux and mistakes that go unchecked can have lasting ramifications on your company’s health. This includes whether or not you made sound decisions not just on the product or service but also with your finances, company name, branding, how your company will be legally structured, and any relationships you take on with key service providers.
It is in the startup stage that you will ultimately launch your product or service, though keep in mind that sweeping changes can be expected as you adopt suggestions from those close to you as well as initial feedback from your customers.