Article describes the approach for determining and choosing the enterprise result indices from the life cycle conception perspective. An insight into the basic principles of the enterprise life-cycle conception is provided. The structure of small and medium enterprises is simpler, processes are less formalized therefore it is not possible to apply the assessment system of equal operation results. Two showings – profitability and liquidity are important along the entire life cycle of the enterprise. Looking at the features of enterprise life cycle stages the conclusions were made about the characteristics and priorities of the enterprise operation efficiency. Results of the research will help to form the conception and principles for small and medium merchant efficiency assessment system