The Business Journey: Planning for every stage from startup to exit

Eric Dickler, Founder/Partner - EDR Accounting

Starting a business is exhilarating—full of ideas, opportunities, and ambitions. But have you ever thought about the entire life cycle of your company? From the excitement of launching a startup to the complexities of scaling, and eventually planning an exit, every phase requires a different mindset and strategy.

Whether you're a first-time entrepreneur or a seasoned business owner, thinking ahead can mean the difference between sustainable success and unforeseen challenges.  Here’s what to expect at every stage.

1. The Startup Phase:  Laying the Foundation

Every great business starts as an idea. But ideas don’t build businesses—execution does. The startup phase is about turning a concept into reality. 

Key Focus Areas:

✅ Business plan & financial forecasting
✅ Understanding your market & competition
✅ Securing initial funding (grants, loans, investors)
✅ Setting up business structures (sole trader, partnership, company)

Common Pitfalls:

x Underestimating costs—many Aussie startups burn through cash too quickly
x Neglecting legal structures—this can cause tax headaches later

Did you know? Australian startups can tap into support like the R&D Tax Incentive to offset development costs.

2. The Growth Phase: Scaling Smart

Your business is gaining traction, customers are coming in, and revenue is growing. But with success comes new challenges—how do you scale without losing control? •

Key Focus Areas:

✅ Expanding operations (new locations, online presence, exports)
✅ Hiring the right team & building a strong culture
✅ Managing cash flow to avoid financial bottlenecks
✅ Refining marketing strategies to keep growth sustainable 

Common Pitfalls:

x Expanding too fast—growth needs to be strategic, not rushed
x Ignoring customer feedback—your first customers hold valuable insights

Australian Insight:  Many successful businesses expand internationally—but ensuring compliance with overseas laws and taxes is crucial.

3. The Maturity Phase: Strengthening Stability

At this point, your business is well-established. You’ve built a loyal customer base, steady revenue, and strong operations. But what’s next? Staying relevant is just as important as launching. •

Key Focus Areas:

✅ Diversifying products/services to avoid stagnation
✅ Automating processes to improve efficiency
✅ Investing in leadership development & succession planning
✅ Exploring new market opportunities

Common Pitfalls:

x Complacency—"If it’s not broken, don’t fix it" is a dangerous mindset
x Losing innovation—keep adapting to industry changes

Interesting Fact: Over 60% of Australian businesses that reach maturity fail because they don’t innovate or adapt to market changes.

4. The Exit Phase: Planning Your Next Move

At some point, every business owner moves on—whether it’s selling the company, merging, or passing it on to the next generation. The key is having an exit strategy well in advance.

Key Focus Areas:

 Valuing your business accurately (for sale or succession)
 Tax-efficient exit strategies to maximise profits
 Finding the right buyer or transition plan
 Legal agreements to protect assets & stakeholders

Common Pitfalls:

x Leaving it too late—businesses take time to prepare for sale
x Emotional attachment—many owners struggle to let go at the right time

Case Study: In Australia, many family-owned businesses fail to successfully transfer to the next generation due to lack of planning. Having a structured succession plan can preserve both wealth and legacy.

Final Thoughts: Thinking Long-Term Pays Off

Whether you’re just starting out or preparing for an exit, every phase of business has its challenges and opportunities. The key to long-term success? Thinking ahead and being adaptable.

So, where do you stand in your business journey? And more importantly—what’s your next move?

Build wisely, grow sustainably, exit successfully.