Businesses go through recognizable life stages, each with its own set of demands on the finance organization. Learn more about this typical growth path and what you need to consider during each phase of your company’s evolution by exploring below.
Stage - Startup
Functioning For Your First Customers
The main priorities are to complete development, grow your customer base, increase revenues and generate positive cash flow. Start-ups often don’t need or can’t yet afford a full-time finance department. Partner with us so you can stay focused on your business.
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Stage - Rapid Growth
Experiencing Growth Benefits and Challenges
Your business has made it through the precarious start-up stage and you find that you’re growing quickly. The focus is now on sales and market penetration and on dealing with a constant influx of pressing issues, each demanding time and money.
A well established company going through ups and downs must remain alert. Maintaining business as usual is the hardest thing a company can do. Regardless, you need to stay agile, flexible and ready for anything the market throws at you.
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Stage - Expansion
A Growth Strategy
At this point, you might be actively seeking acquisitions to facilitate your market expansion. You may be launching new products or opening new markets, crossing state lines and borders in the process.
Any exit must be carefully planned and executed, whatever form it takes. If you’re passing on the business to heirs or successors, they must be fully apprised of the legal, financial and operational obligations they’re assuming.