After moving past the risky startup stage, a business enters the growth phase of the Business Owner Lifecycle, which presents its own opportunities and challenges. During the growth phase, entrepreneurs must shift from working in the business to working on the business, requiring a new set of skills and a keen understanding of potential risks and opportunities.  

Will Aderholt, CPA, CCIFP, is a Member of Warren Averett’s Tax Division, and in this episode, he joins The Wrap to discuss the Growth Stage of the Business Owner Lifecycle and how entrepreneurs can set themselves up for sustainable success. 

In this episode, you’ll hear:

• About the shift in mindset needed from the excitement of the startup stage to the hard work of business growth
• Insights around cash flow and cash management
• Characteristics of a growing business and the types of growth
• How to balance risk-taking with cautiousness 
• Tips on reinvesting in the business 
• The indicators that a company is transitioning from the growth stage to maturity

Resources for additional information:

• Podcast: Episode 069: The Entrepreneurial Journey and the Cycle of Business Growth
• Podcast: Episode 070: What Does It Take for a Startup To Succeed 
• Blog: How to Create an Adaptable Business Plan That Can Roll With the Punches
• Blog: How to Exit Well: Aligning the Sale of Your Business With Your Personal Financial Plans