What is the Lifecycle?
Change. The Lifecycle has different stages that organizations and individuals go through. Each stage of the Lifecycle presents different challenges. An emerging business has a different set of concerns than a mature organization. Needs may vary based on the people inside the company, their age, competition, the economy and a variety of other factors.
Direction. We help clients navigate through each stage of their business and personal Lifecycle. For many of our clients, we have been working with them from the beginning of their company’s inception. With other clients we began working with them as their businesses began to change. No matter what stage of the Lifecycle you are in, we can help.
Complexity. Many organizations outgrow their accounting firm. Businesses evolve and their needs change, which may require more complex and strategic support. Bond Beebe provides that higher level of advanced strategy and advice.
Stages of the Lifecycle
Emerging. The Emerging stage is typically short-lived. Either the organization makes it to the next stage, the Growth stage, or they go out of business.
Growth. An organization may be in the Growth stage for decades. It can take time for a company to establish itself. Some trial and error may occur along the way. Changes in the economy and competitive landscape also are variable that can expedite or slow the Growth stage. No organization stops trying to grow, but at a certain point the business will move to the Mature stage.
Mature. In the Mature stage companies are stable and profitable. Owners may stay in this stage for quite some time , especially if the Growth stage was very successful. Eventually though every owner moves into the Transition phase.
Transition. This is the stage a business reaches where they decide it is time to sell to an outside party, transition to co-owners, employees or begin a family succession. The age of the owner(s) and how much time a company needs to prepare for the sale, transition or succession can vary. The Transition stage is a critical planning phase that requires time to help owners reach their goals.
Goal Setting & Obstacles
Identification. We start by understanding what stage of the Lifecycle you are in and identifying your goals and obstacles. As an example, if a client is family run and in the Mature stage their need may be to transfer value and leadership to the next generation. Every situation is different and our identification process helps determine the next step.
Options. In another example, if the goal is to exit and sell to a third party, an owner will need to take different steps to get the business ready to sell. Tax planning will continue to be a major component, but taking steps to reflect a strong performance on the financial reports will be needed to increase the potential selling price. We help clients set goals unique to their circumstances so they can benefit from their years of hard work.
Once we have identified your goals and obstacles, we help you focus on the steps to close the gap from where you are today to where you want to be in the future. Our professionals help you make progress and move close toward achieving your long-term vision.