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Part I: The Stages of a Business

Updated: Jul 8, 2022

After being in the accounting field for over ten years, I have honed in on my favorite aspect of accounting, and that is helping small businesses. I have worked with hundreds of small businesses over the years. I have seen businesses succeed and I have seen businesses fail. There is definitely a formula for success and my goal is to help small businesses find their success.

“They” say a business’s fate is determined within the first five years. If a business makes it past the five year mark, it will succeed. I tend to agree with that. My strengths lie in helping businesses get to year 5.

I think there about three phases to business development.

1) Start Up Phase this is the phase where the most trial and error is done. Year 1.

2) Growth Phase these are the years where there are growing pains. The business may start to be profitable during this phase. Year 2-4.

3) Success/Fail Determination Phase In this phase, the business can fail- the owner determines that its too hard, its not what they thought it would be, or the business just never took off. Or, better yet, after the agony of the start up and growth phase, the owner has it all figured out and the business will succeed. Year 5.

In the coming posts I will discuss the phases and my role in assisting with success.

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