The growth stage is particularly relevant from the standpoint that this is where you really should begin to see the fruits of your labor take root. Not only is your product or service doing well on the market, but you are taking on more clients and solidifying your brand as a competitive force. With that also comes a steady stream of income, which is helping you finally offset the initial expenses from the startup stage. In many cases, a business owner will see decent profit beyond that, allowing them to hire employees and increase their marketing efforts.
It is important to note that while you are officially in the season of growth, you still must be mindful of a whole new set of challenges. This includes taking note of how fast your company is growing and whether or not you have the capacity to do so. If you find yourself reaching capacity quickly, and you have not properly scaled your business, that growth can actually hinder your business. You will need to manage these changes appropriately, including the possibility of hiring additional employees (those who share the same vision and can be an extension of you), increasing your production schedule to meet client needs, setting clear and attainable goals, etc.