Join us for episode 10 of Building Wealthy Habits where we discuss the different cycles that most businesses go through. Laura and Jeremiah talk about the launch phase where entrepreneurs work long hours to test their ideas. They then describe the growth phase where businesses hire employees and seek financing. Next, they examine the maturity phase where profits level off and companies focus on sustainability. Laura and Jeremiah emphasize the importance of reinvention to stay competitive. They conclude by stressing the need for succession planning to ensure long-term success of the business.
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This week on Building Wealthy Habits:
0:00 Business cycles and entrepreneurship.
3:41 Entrepreneurship and business launch.
11:10 Business growth and financial planning.
16:00 Business growth and maturity.
22:48 Business growth and succession planning for entrepreneurs.
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