business cycle

· Existence Stage (1st stage)

a business is up and running o sales will start slow but ideally they'll steadily increase

· Success Stage (3rd stage)

o a business is economically healthy o entrepreneurs look for avenues to leverage their company's growth and pass operational duties on to others o at this stage a CEO, COO & CFO come into play (become relevant)

· Pivot or Persist (6th stage)

o a business persists with its current strategy or pivots to a new strategy if needed

· Survival Stage (2nd stage)

o a business regularly takes on new customers and starts to generate a consistent income o owners can cover loans and start paying themselves a fair salary after turning a profit

· Take-off Stage (4th stage)

o Owners decide if they want a big business and determine the best solution to finance rapid growth o Conversely, they may decide they want to sell the company

· Exit Plan Stage (7th stage)

o Owners make a profit from selling their ownership in a successful company

· Resource Maturity Stage (5th stage)

o Owners separate financially and operationally from a business