The Seven Stages of Business Life
Davidson Accountants can help at any stage of your business life cycle.
The seed stage of your business life cycle is when your business is just a thought or an idea. This is the very conception or birth of a new business.
Your business is born and now exists legally. Products or services are in production and you have your first customers.
Your business has made it through the early stages. Revenues and customers are increasing with many new opportunities and issues. Profits are strong, but competition is surfacing.
Your business has now matured into a thriving company with a place in the market and loyal customers. Sales growth is not explosive but manageable. Business life has become more routine.
This life cycle is characterised by a new period of growth into new markets and distribution channels. This stage is often the choice of the small business owner to gain a larger market share and find new revenue and profit channels.
Changes in the economy, society, or market conditions can decrease sales and profits.
This is the big opportunity for your business to cash out on all the effort and years of hard work. Or it can mean shutting.
Each stage of the business life cycle may not occur in chronological order. Some businesses will be built to flip; quickly going from start-up to exit. Others will choose to avoid expansion and stay in the established stage.
Davidson Accountants can assist your business at any stage of your business life cycle.