Entrepreneurship is like a living organism, is a continuous process from idea generation to final death. This process is hard to distinguish each stage and the turning point according to the change of time. In order to understand better, marked by the inflection point of enterprise sales growth curve, business life cycle can be divided into five phases- seed, budding, growth, mature and recession.

　　In the actual economic activities, the real trajectory of each enterprise is different, the entrepreneurial process may diverge or complete departure from business life cycle. But the business life cycle is a typical trajectory of entrepreneurship, in different stage, there is a great difference between the external business uncertainty factors, the demand of resources and ability showed different scale, the integration of elements and the benefit of elements are also different. Entrepreneurs to improve the external environment is difficult, but must implement effective management according to the characteristics of the stage, in order to extend the business life, make enterprise "evergreen", and become the "hundred enterprises" or "old and famous enterprises".

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