- Growth period. Okay so maybe a few fixed assets like computers and the like would be handy now. But I would still urge caution against tieing yourself into long term lease agreements or contracts. Keep them short and sharp. It may cost you moe in the short term but it will save you money in the long term.
- Expansion. Invest in people. Rent a premises and invest in stock and people. The time for assets will come. Now woud be a good time to look at leasing a vehicle. (Don't buy). Leasing a vehicle will allow you to keep up to date and all the servicing costs are already built into the price so there won't be any surprises in the need for repairs.
- Maturity. This is the time to look at purchasing a small scale property. Don't take on any grandiose building schemes or pans at this stage unless you get super good interest rates or you can rent out excess space that you don't require.
In summary - keep cash available for you to use when you need it, invest in people before buildings, lease don't buy as much as possible.