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Business Life Cycle

Your business is changing. With the passage of time, your company will go through various stages of the business life cycle. Learn what upcoming focuses, challenges and financing sources you will need to succeed.

The 7 Stages of the Business Life Cycle

Click on the stages for more information.




















Seed

The seed stage of your business life cycle is when your business is just a thought or an idea. This is the very conception or birth of a new business.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan

Additional Resources to Consider

  • SBA Loan Programs
  • Minnesota Small Business Development Center
  • Winona Port Authority
  • Attorney – Register w/State, Establish Articles of Inc., etc.
  • Accountant – Financial record keeping

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Start-Up

Your business is born and now exists legally. Products or services are in production and you have your first customers.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan
  • Internet Banking
  • Business Credit Card
  • Credit Card Processing

Additional Resources to Consider

  • SBA Loan Programs
  • Minnesota Small Business Development Center
  • Winona Port Authority
  • Attorney – Register w/State, Establish Articles of Inc., etc
  • Accountant – Financial record keeping

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Growth

Your business has made it through the toddler years and is now a child. Revenues and customers are increasing with many new opportunities and issues. Profits are strong, but competition is surfacing.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan
  • Business Credit Card
  • Credit Card Processing
  • Health Savings Account
  • Sweep Account
  • Remote Deposit
  • Cash Management

Additional Resources to Consider

  • SBA Loan Programs
  • Winona Port Authority
  • Accountant – Financial record keeping

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Established

Your business has now matured into a thriving company with a place in the market and loyal customers. Sales growth is not explosive but manageable. Business life has become more routine.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan
  • Business Credit Card
  • Credit Card Processing
  • Health Savings Account
  • Sweep Account
  • Remote Deposit
  • Cash Management
  • Private Financial
  • 401k Planning
  • Employee Stock Ownership Plans (ESOP’s)
  • Investment Brokerage Estate Planning

Additional Resources to Consider

  • SBA Loan Programs
  • Winona Port Authority
  • Accountant – Tax Planning

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Expansion

This life cycle is characterized by a new period of growth into new markets and distribution channels. This stage is often the choice of the business owner to gain a larger market share and find new revenue and profit channels.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan
  • Business Credit Card
  • Credit Card Processing
  • Health Savings Account
  • Sweep Account
  • Remote Deposit
  • Cash Management
  • Private Financial
  • 401k Planning
  • Employee Stock Ownership Plans (ESOP’s)
  • Investment Brokerage Estate Planning

Additional Resources to Consider

  • SBA Loan Programs
  • Winona Port Authority
  • Accountant – Tax Planning

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Mature

Year over year sales and profits tend to be stable, however competition remains fierce. Eventually sales start to fall off and a decision is needed whether to expand or exit the company.

WNB Products to Consider

  • Checking Account
  • Savings Account
  • Business Loan
  • Business Credit Card
  • Credit Card Processing
  • Health Savings Account
  • Sweep Account
  • Remote Deposit
  • Cash Management
  • Private Financial
  • 401k Planning
  • Employee Stock Ownership Plans (ESOP’s)
  • Investment Brokerage
  • Estate Planning

Additional Resources to Consider

  • SBA Loan Programs
  • Winona Port Authority
  • Accountant – Tax Planning

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Exit

This is the big opportunity for your business to cash out on all the effort and years of hard work. Or it can mean shutting down the business.

WNB Products to Consider

  • Private Financial
  • 401k Planning
  • Employee Stock Ownership Plans (ESOP’s)
  • Investment Brokerage
  • Estate Planning

Additional Resources to Consider

  • Accountant – Tax Planning

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Seed Start-Up Growth Established Expansion Maturity Exit