REMOTE TEAM MANAGEMENT & DIGITAL SYSTEM SPECIALIST

During a company's startup phase, an owner will lease or purchase a storefront, factory, or another business space, and interview and hire employees. The business owner introduces the company's product or service to potential customers, including product testers, and other business or personal acquaintances. The company will address flaws before they release the product to a market, select sales, and distribution channels, and commit to building market awareness.

As the company's growth stage begins, the business may refine its product or service offerings in response to market feedback, as a means to attract new customers, increase sales volume or revenue, expand its market share, and become profitable. In addition, an owner might revise the company's business plan, due to both consumer responses to the company's products and the introduction of competitors' products to the markets. The business might need to hire additional employees and seek new funding sources to support its growth. During the growth state, a company works to become operationally and financially efficient. In the process, employees assume newly defined management roles and work to streamline and coordinate internal functions to improve productivity.

Once a company achieves its desired share in one market, it pursues new markets, and designs and implements new distribution channels to support those markets. The business might create a new division or acquire another business as a means to market new products. In turn, the company may modify its structure and revise business functions, hire personnel with unique skills to best support its new business model, and decrease costs and product prices. Also, the company might seek new funding from banks and investors to support its expansion.