Navigating each business life cycle can be challenging, and it’s important to understand where your business falls. From the early stages of growth, through maturity and even exiting your business, Scott and Rahsaan have it covered with this Napkin Numbers episode.
Navigating Business Life Cycles and Funding Access
They share the challenges and choices your business may face at each stage, highlight varying levels of risk, the challenges of securing funding at each of these pivotal stages, as well as the important resources available to meet these challenges.
Napkin Numbers Talking Points
[0:00] Introduction to Business Life Cycles and Corporate Funding
- Scott and Rahsaan introduce the topic of business life cycles and corporate funding, emphasizing the importance of understanding the progression from starting a business to its growth and decline.
[0:47] Understanding the Business Life Cycle
- Scott discusses the different phases of the business life cycle, including launch, growth, maturity, and decline, and the implications for sales, competition, and decision-making.
[2:55] Capital Access and Corporate Funding Lifecycle
- The conversation delves into the alignment of capital access with the business life cycle, highlighting the varying levels of risk and the challenges of securing funding at different stages.
[4:34] SBA Resources and Support
- Rahsaan mentions the wealth of resources available through the Small Business Administration (SBA) for business owners at different stages of the life cycle, including business plans, templates, and local counseling services.
[5:35] Conclusion and Next Steps
- The episode concludes with a preview of the next parts in the series, encouraging viewers to tune in for more in-depth explorations of the launch and growth stages, and a reminder to like and subscribe to the podcast.
Understanding the intricacies of business life cycles and corporate funding can not be overstated. It is important to understand each specific phase—from launch to decline—and how it affects sales, competition, and decision-making. Aligning capital access with these life cycle stages and using the invaluable resources offered by the SBA will go a long way in keeping you one step ahead in the world of business.
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