Plan Proactively Throughout the Life of Your Business

October 2, 2014

Since the beginning of time, businesses have developed and grown in a predictable manner. A business moves through a lifecycle from the time of its inception (founding) to the end of its existence. Throughout the lifecycle, many transitions occur as businesses move from one phase to the next.

Over the next several months, we will examine those transitions, the challenges they can present, and proactive steps to help you navigate through the lifecycle. 

First, let’s review the business lifecycle. The business lifecycle has been defined as, “The movement of an enterprise as it evolves through typical stages of corporate existence.” As they grow and evolve, businesses move through several common phases: Start Up, Growth, Expansion, Maturity and Transition.

Business lifecycle phases

There are three important areas of any organization which may have opposing needs throughout each of the phases: 

  • Ownership
  • Management
  • Family/Partnership

As we guide clients through times of transition, we incorporate the shifting dynamics and needs of each of these three areas with our extensive knowledge and expertise on the business lifecycle.

In the coming months, we will address the specific challenges and opportunities within these phases from each of the three perspectives above, focusing on:

  • Financial planning for the business
  • Wealth management
  • Successor development
  • Strategic business planning
  • Ownership planning
  • Communication
  • Exit planning
  • Lifestyle plan

Schenck’s Guided Planning for Success (GPS) team specializes in business lifecycle transitions, and has the expertise to lead you through these periods of change.

To learn more about how our team can help you navigate the business transition process, contact Lisa Horn at