Managing Your Business Lifecycle
The business lifecycle is a series of stages that organizations transition through during their lifetime. An early-stage company concentrates on survival. A later-stage organization is more concerned about stability and retaining the wealth that has accumulated from their success. Wessel & Company identifies the stage every client is in, adapting our support to meet their current needs. All the while we prepare them to enter the next lifecycle stage.
What Stage Are You In?
Emerging. These are start-up companies with the primary concern of generating profits or fulfilling their mission.
Growth. Companies that have survived the emerging stage. They require more capital, systems, people and processes.
Maturity. Businesses that are stable, comfortable, and who are generally growing a little slower. They typically have owners with accumulated wealth who are not ready to exit yet.
Transition. Organizations that hit the point where they need to sell or transition to the next generation.
How Do You Move to the Next Stage?
Most companies gradually transition from one stage to the next. At a certain point, most high-growth companies slow their rapid growth, but still steadily build value. As organizations age, they may get comfortable with their success and consider methods to protect their wealth. Our team can help plan a strategy for each stage you are in.
Engage an Entrepreneurial CPA Firm
Organizations often outgrow their current CPA firm. If your accountant’s primary focus is on filing tax returns and creating financial statements, they likely cannot provide the strategy necessary to help your company grow or enter a different stage of the business lifecycle. Not all firms can help solve problems nor have the resources or experience to evaluate opportunities and resolve obstacles.
Let Us Construct a Plan with You
We can begin working with a company in whatever stage of the lifecycle they are in. Call us to begin a conversation.