Your small business exit strategy is one of the most important parts of running your business.
The reality is, if you want money quickly it is better to get a job than start a small business. Starting a small business helps you in the long run financially as you are building equity and value in your business year over year.
But the only way to get this equity and value out of the business is having a solid exit strategy that allows you to realize this.
There are 6 major exit strategies to consider;
1. Getting the most out your business now.
2. Liquidating your business which means selling all of your assets.
3. Selling your business to someone you know.
4. Being acquired by another business for a strategic reason.
5. Issuing shares publically and getting out of the business.
6. Create a family empire with a solid succession plan.
One of these should be selected and planned for. The video walks through these strategies, gives examples of how it has worked, and highlights the top tip for each exit strategy that you should be focusing on.
Contact Your Expert
info@smallbusinesssolver.com
Want the Slides? small business exit strategies.
Category Archives: Finance & Accounting
Benchmarking & Performance Management for Small Business
What gets measured will get done.
Large businesses and small business alike use performance metrics with the intent to motivate their employees. However often these metrics are misguided and resulting in undesirable behaviour. They are not tied to the strategic performance of the organization.
In this video learn…
1. Why have metrics?
2. How to create your metrics that will actually help your business
3. Understand what a balanced scorecard is and what components make up a small business’ balanced scorecard
4. Learn how to monitor and implement the metrics in the most effective and efficient way possible
There are a lot of red flags when it comes to metrics, and if done improperly a metric can actually stunt your business’ growth rather than foster it.
Always remember that what gets measured will get done!
Performance management resources
Examples of Critical Success Factors and Metrics
Want the slides for this presentation? Performance Management
The HST Lowdown
Taxation is a tricky world for most entrepreneurs. How to get started? What tax should you be charging? How does this change by province or country? How and when to remit taxes? What types of rebates are available?
Taxation can be a scary topic, but it is inevitable. So it is better to understand what is required upfront.
What will you learn in this video?
– When to register for HST
– How to do it
– Methods of filing
– Filing periods
– The process of filing and how to do it
– A list of issues that you may encounter and tactics to overcome them
Additional Links
How To Register
Business Registration Online (BRO): https://www.cra-arc.gc.ca/tx/bsnss/tpcs/bn-ne/bro-ide/
Phone CRA Business Line: 1-800-959-5525
Other Resources
Goods and services tax/harmonized sales tax (GST/HST): https://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html
Business Registration Online (BRO): https://www.cra-arc.gc.ca/tx/bsnss/tpcs/bn-ne/bro-ide/
RC4022 General Information for GST/HST Registrants: https://www.cra-arc.gc.ca/E/pub/gp/rc4022/rc4022-e.html
My Business Account: https://www.cra-arc.gc.ca/mybusinessaccount
Expert Contact Information
Ross A. Libbey, CPA, CA
Off: 905-436-6663
Email: ross@yourbottomline.ws
Test A Business Idea In Minutes
Test whether or not your business will fly by going through the idea tester’s funnel.
This 30 minute session is delivered by Small Business Solver co-founder and the author of “Will It Fly? The Idea Tester”, Carla Langhorst. It will give you a solid process to evaluate quickly any great idea that you have. If you have a new product, service, or business, this is for you!
The process has been tested on 1000s of small business ideas and has been used by small business coaches throughout North America as a guide to highlight red flags in a business model.
Top questions that will be answered:
1. Will people buy your product?
2. Is it better than the competition?
3. Will you burnout?
4. Are your salary expectations reasonable?
5. Will you end up working more than you are intending?
Test your business idea for free through the Idea Tester.
Increasing Your Profitability
This is one of the most logical and fun webinars you can come to!
You are already in business. Things are picking up. Why not give your business a boost by looking for ways to make it more profitability?!
Isn’t it fun to make more with what you have? This is increasing your profit.
The learning objectives are;
1. Understand the impact of Costs and Expenses on your Breakeven point.
2. Learn the impact of gross margin and cost mark up methods on your profitability.
3. Build a pricing model to understand the impact of pricing and the affect discounts have on your business
The subject matter expert is Eloise Pasianotto, a Certified FocalPoint Business Coach with 28 years of award winning experience.
Contact the expert!
Eloise Pasianotto, CMA MBA
info@effectiveprofessionalconsulting.com
Call at 289-553-0241
Like the slides? Improving Your Business’s Profitability.
Small Business Tax Preparation
2012 is over and now it is time to wrap up your year end. It is better to get this done sooner rather than later, but it is always so easy to procrastinate.
Spend 40 minutes on some best practices to wrap up last year quickly, and set yourself up for success in 2013.
Presented by BDO Accounting in Barrie, Ontario (contact information below video).
Tim Taylor, CPA, CA, MBA, CFP
Partner, BDO Canada LLP
705-726-6331
Marc Graham, CGA
Senior Manager, BDO Canada LLP
705-726-6331
Small Business Accounting, Bookkeeping, & Financial Basics That Save Money (CANADA)
Keeping up with your taxes and bookkeeping can feel like a full-time job. Especially in the first few years when the learning curve is steep on what to do and what you shouldn’t do in regards to your paperwork.
Jeff Dessau, a Chartered Accountant with over 25 years experience in Canada, goes through what is critical to saving money as an entrepreneur.
Want to learn more? Contact the subject matter expert;
Jeff Dessau
Build A One Page Business Plan That Pops!
A one-page business plan can be great if you are using the business plan more of an action plan for yourself, your partner, and your company. It makes it easy to update, keeps the attention of the reader, and is to the point.
Another way to use a one-page business plan is to use it to generate interest from customers, potential partners/employees, suppliers, and initial interest from financial companies.
The video is a quick overview of the main components of the one-pager & then how to make the one-pager a little bit different (add POP!)
Build Your Financials In Minutes
Financials are the guiding light for a small business. But most if you are a small business owner who dreads financial planning, you are not alone.
Paul Smith, a commercial banker of over 20 years who now helps entrepreneurs attract funding, walks through the overview of how to get through your financial projections needed for a business or for your regular strategic planning.
Get Customers To Pay & Collect When They Don’t
Getting cash in the door can help a small business significantly. Not having the cash means that you could be paying interest to someone else. Not having the cash means you might not be able to have as much inventory available to sell or start a marketing campaign when you wanted. So getting cash in the door earlier rather than later can help.
Secondly, what happens if the cash never shows up for a service rendered? We spoke to a paralegal, Allison MacSporran, to get her take on how to avoid this scenario.
