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While it can feel strange to consider the end of your business when you are just starting, all business owners should have a long-term exit strategy. It’s where all business planning begins. A good way to build your business value is to start with the end in mind. Consider these questions:

  • What do you want to accomplish?
  • What do you need, financially, to move on after you’ve accomplished it?
  • What is your exit strategy?


There are only three exit strategies: liquidate, sell, or continue as an absentee owner. Read more...

Wednesday is SBDC Day!


SBDC Day is a national, collective proclamation of the impact America’s Small Business Development Centers (SBDCs) have on the success of America's small businesses.


We LOVE supporting small businesses! Check out this video from our Rod Bristol about how to dream big and have a plan to get there!

A step-by-step plan to help you take you exit plan for their business and turn it into a reality.

NEW PODCAST! Small Bites of Business Insights


Profit Soup founder Barbara Nuss has teamed up with Dr. Kathleen Gosser, University of Louisville Assistant Professor of Franchise Management Practice and Director of the Yum! Center for Global Franchise Excellence, on a new podcast series. Small Bites of Business Insights shares important business principles and practices in ten easy-to-digest episodes.

 

In the first episode, Start with the End in Mind, Barb shares how building entrepreneurial wealth happens quicker when you understand how a business is valued. It’s never too early to envision how you will exit your business, beginning with a timeline for growing sales and profits to yield the ROI of your dreams. Every new and existing owner should hear about this critical aspect of business planning.


Click here to access the podcast!

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Watch for more great news next month from Profit Soup! Is there something specific you want to see in an upcoming newsletter? Email us!

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All the best,

Barbara Nuss, CPA

Barbara.Nuss@ProfitSoup.com

 
 
 

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