The business life cycle is the progression of a business in phases over time and is most commonly divided into these stages:
1. launch
2. growth - business becomes profitable
3. shake-out
4. maturity
5. Decline (if you don't evolve)
We can avoid the last stages where growth stops by evolving the business model as per market environment.
Also see:
A standard ref : https://www.forbes.com/sites/theyec/2018/01/11/business-life-cycle-spectrum-where-are-you/?sh=6d239503ef5e
Breakup of activities details: https://www.totalassignmenthelp.com/free-sample/business-life-cycle
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