• SEED STAGE
  
• Your business is just a thought or an idea. This is the birth of a new business.
  
  The goal of the seed stage is to win market acceptance and pursue one niche opportunity while matching the business opportunity with your skills, experience and passion. Deciding on a business ownership structure, finding professional advisors and overall business planning occurs during this stage. With no proven market or customers, the business will first rely on cash from owners, friends and family. Other potential sources include suppliers, customers and government grants.
  
  SLSF has great experience working with clients in the Seed Stage of their business. In fact, many of our most successful clients were once seed stage businesses.   Working with your legal counsel, we assist in determining the most appropriate legal entity for your business as well as its ownership structure. We also assist in the development of your business plan including the preparation of financial forecasts and projections, all key in the pursuit of financing and investment opportunities.  Through our wealth of knowledge and experience, we assist you in understanding how lending institutions will view your business model.

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• START-UP STAGE
  Your business is now a legal entity. Products or services are in production and you have your first customers.
  
  In the start-up stage, you may have underestimated money needs and the time needed to get your product or service to market.  The challenge is to not burn through your available cash.  It may also be time to do a reality check to see if your business is on the right track and that you have established a solid  customer base and market presence.
  
  During the start-up stage of your business, SLSF professionals work very closely with management to make sure the appropriate systems and controls are in place in order to facilitate prompt and accurate financial reporting as well as ensuring that all federal, state and local tax obligations are being met.  We will guide you through your interim financial statements, helping you understand what the numbers mean and how to use them to make strategic decisions. We will also assist you in comparing your actual results to those forecasted or budgeted as well as analyzing those variances.
  
  
  

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• GROWTH STAGE
  Your business has made it through the toddler years and is now a child. Revenues and customers are increasing along with many new opportunities and issues. Profits are strong but competition is surfacing.
  
  Bidding for more time and money is one of the biggest challenges for growth companies. Effective management is required and it may be time to develop a new business plan. Learning how to hire the right people, train your people and to delegate your responsibilities in order to successfully navigate the growth stage is also a great challenge.
  
  The growth stage requires a focus on running the business in a more formal fashion in order to properly manage increased volume of sales and customers.  Better accounting and management systems are imperative and new employees will have to be hired.
  
  During the growth stage of your business, SLSF assists you and your business by providing expert and timely advice to facilitate that growth.  It’s not enough to just make money; it’s about continuously creating new customers and keeping them.  During this stage of your business, we can help steer your business away from the bumps in the road that may inhibit growth including the design of executive compensation and employee benefit plans to reward and retain your employees.  We will also assist in determining which level of financial reporting (compilation, review or audit) would be most appropriate for your business. Throughout this stage of your business, we continuously monitor the tax situation for you and your business, keeping you informed of your potential tax liabilities and advising you on how they can be minimized.
  
  
  

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• ESTABLISHED STAGE
  Your business is now a thriving company with a solid place in the market with loyal customers. Sales growth is manageable and the life of the business has become, to a great extent, more routine.
  
  Resting on your laurels may be tempting, because you have worked hard and have earned a break, but the marketplace remains competitive 24/7.  The economy, competitors or trends can quickly challenge everything you’ve worked so hard to build. An established stage company will be focused on improvement and productivity.
  
  During the established stage of your business, SLSF will help keep you focused on the big picture.  We will encourage you to implement better business practices and more efficient processes as well as forming strategic alliances with other businesses to reduce costs and improve productivity.  We will work closely with you and key members of your management team to ensure that each department in your business is working at or close to its potential.
  
  
  

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• EXPANSION STAGE
  This life cycle is characterized by a new period of growth into new markets and distribution channels. This stage offers the opportunity for the business owner to gain a larger market share and find new revenue and profit channels.
  
  Exploring and moving into new markets requires planning and research similar to that of a business in the seed or start-up stage.  New products, services, acquisitions and market segments must complement your existing experience and capabilities. Moving into unrelated businesses without proper analysis and planning can often be recipes for disasters.
  
  During the expansion stage of your business, SLSF can assist in finding expansion stage funding including joint ventures, banks, licensing, new investors and business partners. These services often include the preparation of  financial forecasts or projections, which are generally more sophisticated than ones prepared in the earlier stages of the business cycle.  If the expansion of your business includes a merger or an acquisition, we work collaboratively with you and your legal counsel to establish the most favorable tax treatment of the business combination.  We also can provide due diligence services to ensure that representations of the company you are buying are fairly stated.
  
  
  

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• DECLINE STAGE
  External factors, such as changes in the economy, society or market conditions, along with internal factors, can decrease sales and profits which can quickly end the life of many small companies.
  
  Businesses in the decline stage will be challenged with dropping sales, low or no profits and negative cash flow.  How long the business can support negative cash flow is the primary concern.  It may be time to move on to the final life cycle stage, the exit stage. 

Since a business in the decline stage can no longer depend on profits to sustain the company, SLSF will assist you and your management team in determining which costs can and should be cut while at the same time finding ways to sustain cash flow.  Through our network of resources within the business and financial community, SLSF can assist a business in decline in the search for new opportunities,  business ventures, investors or partners while keeping the rate of decline in check.

During this phase of the business, monitoring the tax liabilities of the business and its owners becomes more important in order to ensure that taxes and estimated tax payments are minimized, thereby conserving cash flow.

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• EXIT STAGE
  A business approaches the exit stage with the initial hope of selling and cashing out. However, if a buyer cannot be found, shutting down the business may be the only viable option.  For businesses in the exit stage, SLSF assists clients in determining which option is most viable; selling or shutting down.
  
  Years of hard work may have been invested to build the company, but what is its real marketplace value?   This may be your final opportunity to profit from the business you have worked so hard to build.  If a business is contemplating a sale, SLSF will work closely with the owners and management to determine a realistic value of the business.  Such an assessment also includes evaluating the business operations, management and competitive barriers all of which may impact selling price.  If requested, SLSF will assist in finding a buyer through our network of resources.  If a buyer is found, SLSF with work collaboratively with you and your legal counsel to ensure your interest is protected and your tax liabilities are minimized.
  
  Should closing your business be the only option, SLSF will assist you in dealing with the financial, emotional and psychological aspects of such a loss.
  
  The talented and experienced tax and accounting professionals at Silver, Lerner, Schwartz & Fertel will advise you every step of the way as your business moves through the business life cycle.  Our exceptional service and dedicated personal involvement during the life of your business will not only help ease your burdens, but will also provide you with the sound advice and direction that is expected from your business’s most trusted advisor.