Small Business
& Entrepreneur

At RICHRVA, we understand that starting and running a small business can be challenging. That’s why we have developed a comprehensive roadmap to help you navigate the journey to success. Whether you’re a budding entrepreneur or an established small business owner looking to take your company to the next level, our roadmap is designed to provide you with the guidance and resources you need.

Phase 1

Start-Up

Startup businesses can be in the idea stage, with 1-3 co-founders, no legal incorporation and you're likely searching for help to turn your idea into reality.  

This stage is about “soul searching” for the entrepreneur and the business owner:

  • a thought or an idea
  • also called the “Idea” or “Development” stage;
  • no proven market or customers, but the business may exist informally

This stage is about:

  • establishing a customer base,
  • a market presence,
  • effectively tracking
  • managing cash flow;
  • also called the “Start-up” or “early” stage;
  • business may also exist informally

Phase 2

Stay-Up

In the Stay Up stage your business is doing well with a good number of customers and a strong team. If it's a for-profit business, you're making money and thinking about expanding to reach more customers in your main market or, if applicable, in a new market.  

This stage is about:

  • formalizing business operations
  • as revenues and customers increase
  • new opportunities and issues,
  • strong profitability and growing competition
  • also called the “Survival” stage

This stage is about:

  • continuous improvement
  • productivity
  • matured into a thriving company manageable sales growth
  • a place in the market
  • loyal customers;

  • also called the “Maturity” stage

Phase 3

Scale-Up

Businesses that are scaling can be in the early stages of having a small team, serving some customers, and have fully tested your idea and are seeking resources to scale up.  

This stage is about:

  • adding new products or services
  • existing markets or expanding into new markets,
  • distribution channels
  • customer segments

Phase 4

Split-Up

Businesses that are scaling can be in the early stages of having a small team, serving some customers, and have fully tested your idea and are seeking resources to scale up.  

This stage is about:

  • searching for opportunities and business ventures in response to changes in the economy, society, or market conditions that can decrease sales and profits;
  • cutting costs and finding ways to sustain cash flow is vital for the decline stage;
  • also called the “Shakeout” stage

This stage is about:

  • getting a proper valuation of the company
  • examining operations, management
  • competitive barriers
  • make the company worthwhile for buyers.
  • Setup legal buy and sell agreements
  • business transition plan.

This stage is about:

  • cashing out on the effort and work put forth
  • shutting down the business
  • selling off its assets.

This stage differs from succession in the sense that the original business will cease to exist.