Managing Your Lifecycle

A lifecycle can often be described as a series of stages a business transitions through the course of its lifetime. LVBW helps clients navigate through each stage or can begin working with a new client in whatever stage of the lifecycle they are in. Often, organizations outgrow their current accounting firm as their business evolves. They need to address more complex decisions requiring strategic support and direction their current firm cannot provide.

What Stage Are You In?

The Emerging stage is typically short-lived. Either the organization makes it to the Growth stage or they go out of business. The Growth stage may last for decades. No organization really stops trying to grow, but once a company has expanded to a certain point, they often transcend to the Mature stage. In the Mature stage, they are operating as a stable, profitable company. This stage may continue for a long time, but eventually, a business hits a point where they need to sell or transition to the next generation. The age of owner(s) and how much time the company needs to prepare for the sale or succession can vary widely.

Transiting Through Lifecycle Stages

LVBW can help. We start by understanding your goals and obstacles. If a client is in the Mature stage and in a family run business, the need may be to transfer leadership to the next generation and gift or transfer equity or personal assets to family members. If the goal is to sell to a third party, the owner may need to take other steps to get the business ready to sell at the highest price possible. Tax planning is a major step in either scenario. If a client is still in the Growth stage, there are different considerations to address. We help you work through each specific stage.