Your coaches describe the typical lifecycle of a successful small business.
As a first step to understanding how to grow your business, it can help to look at the big picture: the business lifecycle.
That’s right. Most successful businesses go through four stages: startup, growth, maturity, and transition.
In the startup and growth phases, the business owner typically needs to contribute capital. During the maturity and transition phases, the successful business owner is usually able to draw out capital.
As a business grows, nearly every small business owner faces what might be called the “financial balancing act.”
Click the Next button to learn about balancing your personal and business finances.