Tim Fulton -author of Small Business Matters- Shares about how to avoid entrepreneurial myths that can destroy your business and the best way to improve the profitability and value of your business.
MiFB Podcast- Episode 28 Show Notes
Tim Fulton
Small Business Matters and Small Business Matter and All that Jazz
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TIm Fulton
Website / Join the Newsletter
http://smallbusinessmattersonline.com/
Tim@smallbusinessmattersonline.com
Amazon links for Books
Small Business Matters
Small Business Matters and All That Jazz
Jim Adams / Trainer Jim
Facebook https://www.facebook.com/trainerjimadams/
Intsagram. @mifb_podcast
Email Jim Adams – trainerjimfe@gmail.com
Website Trainerjim.net
Sticher. https://www.stitcher.com/podcast/wwwstichercommastersinfitnessbusiness/masters-in-fitness-business
iTunes. h
Music on the show by –
MiFB Podcast- Episode 28 Show Notes
Tim Fulton
Tim talks about why everyone should have an exit strategy for their business 6:50
Tim talks about timing, and types of exits 8:30
How much money do I want when I sell my business 11:20
What are the risks that will get in the way of a graceful exit from my business 12:15
A high percentage of exits are involuntary 13:25
How can you 10 X the value of your business 14:10
By creating systems in your business you go from delivering a service to delivering a product 17:50
Tim talks about why products are easier to sell and product businesses sell for a higher multiple 21:45
What are some of the entrepreneurial myths that Tim has run into 22:15
What is the fatal assumption that most technicians make when starting a business 24:50
The 2nd myth is Running this business has to get easier 27:40
What are the growth barriers of a business 29:15
What is the 4% Club of Business Owners 26:25
How can we predict if a business owner has what it take to be successful 35:15
What is the answer behind 17 months 43:50