What is the final stage in the business timeline?

The final stage in the business timeline is selling the business. This stage represents the culmination of the entrepreneurial journey, where the owner decides to transfer ownership of the business to another party. This decision can be motivated by various factors, such as achieving the original goals set when the business was founded, wanting to retire, or seeking new opportunities.

Selling the business often involves a thorough evaluation of its worth, preparing necessary documentation, and possibly negotiating terms with potential buyers. This stage is critical as it can determine the financial outcome and legacy of the business.

In contrast, starting the business refers to the initial planning and establishment phase, while expanding the business focuses on growth and increasing market share. Tending the business involves daily operations and management tasks necessary to keep it running but does not mark the conclusion of the business journey. Thus, selling the business represents the final transition in the business lifecycle.