The biggest mistake entrepreneurs make is doing the wrong thing at the wrong stage.

At the seed stage, you should be researching and raising funds, not chasing customers. At the startup stage, you should be validating your product, not buying office furniture. In early growth, you build systems. In later growth, you strengthen operations. Expansion comes after you’ve proven the model.

If you try to expand at seed stage, you’ll collapse. If you stay in “startup mode” even after maturity, you’ll stagnate.

Understanding the cycle helps you align your actions with your season. And when your actions match your stage, your chances of survival and growth increase drastically.

Dr. Smith Ezenagu is the Chairman of Esso Group, a diversified conglomerate shaping real estate, finance, education, and media. Dr. Smith Ezenagu is recognized as a real estate & investment mogul, life coach, and private equity expert. He leads Esso Group and its subsidiaries: Esso Properties (awarded Nigeria’s Most Innovative Real Estate Company in 2024 and recognized as the best real estate company in Nigeria), Esso School of Enterprise (the leading institution equipping entrepreneurs), and Esso Capital (delivering smart, trusted financial solutions across Nigeria).