What are Second Stage companies?
LeadForce Solutions helps early stage and second stage companies efficiently increase the velocity of revenue growth in order to achieve business maturity. But what really is this 2nd stage? The Edward Lowe Foundation gives the following definition:
Second-stage companies are those that have grown past the startup stage but have not yet grown to maturity. They have enough employees to exceed the comfortable control span of one owner/CEO and benefit from adding professional managers, but they may not have a full-scale professional management team.
A business typically begins to enter its second stage when it approaches $1 million in total receipts. The transition process may continue until it hits $100 million in receipts, although for most companies $50 million represents the upper limit of second stage.
By $100 million, a firm will have to be professionally managed in order to continue to thrive and grow and be in its third stage of development. Employee numbers and revenue ranges vary by industry, but the population of firms with 10 to 100 employees and/or $750,000 to $50 million in receipts includes the vast majority of second-stage companies.
LeadForce Solutions helps early stage and second stage companies efficiently increase the velocity of revenue growth in order to achieve business maturity.