Let us take a deeper look at each of these fixed stages. In this chart the horizontal axis is time, and the vertical axis is wealth, considering both Personal and Business. 

The first stage, Identify, is when the reality of starting your lab and subsequent frustration of what you have done sets in. You fear people do not want what you are offering. Cash is very tight; you are not sure how to adapt to your new reality and you may experience depression.

The Protect stage is when things start to work. You still struggle with what direction to go and what to offer. Results are starting to trend up, there is a glimmer of hope. 

During the Build stage, sales and profits increase, and cash flow improves. You are building Systems, Processes & a stronger team that allows you to delegate responsibility (build a succession plan), scale faster, and start to feel in control of your future and destiny. I encourage you to retain an excellent CPA and Wealth Advisor during this stage if you have not already been collaborating with them. They will be instrumental in you building your lab to the correct value to move on to the harvest stage. 

The Harvest stage is when you decide to monetize your lab. This can be a complete sale and exit or a partial sale to diversify your assets with the plan to take a second bite of the apple later. In this stage you will work closely with your CPA and bring in a Business Broker or Investment Banker to help you maximize your Lab’s value along with a good Merger and Acquisition Attorney. 

During the Manage stage you transform from an active business owner to managing your investments and/or move on to your next chapter. 

Now is the time to implement a value acceleration plan for your business. If you are ready to take charge of your future, contact Weiss Advisors today for a no-obligation discovery consultation.

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