Stage 4: Growth (5-10 years)

The Growth Stage

During this stage of development, the business is doing well. Congratulations!

  • However, business success requires more complex financial oversight
  • Changes need to be made in order to grow
  • Example: Yellow Pages
    • In order to stay in business, the Yellow Pages had to change their business model
    • They shifted their focus to SEO
  • Example: Real-estate agents
    • Because of the major economic downturn that started in 2008, many real-estate agents either had to leave the business or change their business model
      • Many who stayed in the business shifted their focus to property management
        • they found home-owners someone to rent their home while the home-owners live in an apartment
  • Example: Land-developers
    • After the recent economic downturn, many land-developers went out of business
      • In order to survive, others shifted their focus to other areas of home construction, maintenance, and repair’
        • Some repaired storm damage
  • The focus at this stage is staying competitive and not becoming complacent with the success of the business.  In the world of business, the landscape is always changing and evolving.
    • Guidestar Accounting and Business Solutions will show you ways to stay competitive by finding new ways to increase revenue in your industry.
  • We provide support for your bookkeepers
    • At this stage, bookkeepers often need help with coding
  • Business at this stage sometimes are in trouble with the IRS
    • Payroll liabilities
    • Intent to levy
    • IRS audit
    • Guidestar Accounting & Business Solutions is an expert at resolving these issues for businesses
  • We will do ratio analysis for your business
    • Example: Determining the Accounts Receivable rate (A/R)
      • We offer solutions to improve this rate
        • Increases revenue
    • We look for trends in the financial numbers, looking at the big picture
      • Business owners tend to only focus on the day-to day numbers
        • This can lead to serious problems down the road
  • We retool your financial system to handle growth
  • We keep your financials and payroll taxes up-to-date as new employees are hired