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show notes

Stages of Development

The Smart and Savvy Exit - Season five overview - Ellen McIlhenny

6/4/2021

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Ellen McIlhenny - “The Smart and Savvy Exit – Season 5 Overview

IBGR.Network - PROFIT Radio. #1 global business talk & news Network. Everything a business owner needs to start, grow, or exit a business. Reimagine Your Business!
 
INTRODUCTION
Welcome to season 5!  I am excited to be with you for another season of The Smart and Savvy Exit!
​

Please reach out to me at ellen@cfoplusservices with any questions or suggestions.

If you have not looked into the Employee Retention Credit (ERC) which is part of the original CARES act and has been updated in the Consolidated Appropriations Act (CAA), 2021 you may want to.
 
The purpose of the provision is to encourage employers to keep employees on payroll even if they are not working during the covered period. Key takeaways are:
  1. The updated ERC provides refundable credit of up to $5,000 for each full-time equivalent employee retained between March13 – Dec 31, 2020, and up to $14,000 for each employee retained between Jan1 and June 30, 2021.
  2. You qualify if you were ordered to fully or partially shut down or if your gross receipts fell below 50% for the same quarter in 2019, for 2020 and below 80% for 2021.
  3. You can claim the credit by reducing payroll taxes sent to the government, and if your credit exceeds payroll taxes you can request a direct refund from the IRS.
  4. Employers who received a PPP grant can claim ERC for qualified wages not used to obtain forgiveness for the PPP loan. 
 
Show Objectives - The Why
 
Today is the first show of season 5, and I will be doing an overview of the shows for the coming weeks.

  1. April 13 – Interview with Wendy Dickinson of Ascend to Sell, LLC,  about the importance of a cultural fit between buyer and seller.
  2. April 20 – Using an Employee Stock Option Plan (ESOP) as an exit strategy.
  3. April 27 – Interview with Rob Youngblood of YB Connects about life after the sale.  Where will al the knowledge go?
  4. May 4 – Retiring from your business without selling
  5. May 11 – Selling to your management team (MBO).
  6. May 18 – Mergers
  7. May 25 – Cash Flow Strategies to build value.
  8. Jun 1 – What is a successful transaction and how it is different for everyone.
  9. Jun 8 – Confidentiality when selling your business.
  10. Jun15 – Expansion – Should you expand prior to your exit?
  11. Jun 22 – Handling unsolicited offers
  12. Jun29 – Season 5 look-back

 Shows 
  • Previous: Podcast Episodes 49 – 52 of Season 4 - The Smart and Savvy Exit – Interview with Mary Ashby, a financial advisor 
  • Find My Podcast at https://pod.co/future-financial-confidence-with-ellen-mcilhenny

Next Week: 
We begin I will be interviewing Wendy Dickinson about the importance of a cultural fit in a sales transaction


Please join us this evening from 7-9PM EDT for our season 5 Kick-off – Reimagine Your Business! Use this link to register and download your free eBook.
https://us02web.zoom.us/webinar/register/WN__cq0bi2KQRKefZs_zQPKeQ?fbclid=IwAR3lm6Ajf-AOS5Yixg4tmS_Z7QWfoQFKd97mQy09n5zvCrs--PCaMZ65Zgw
.

Resources:
Written by Ellen McIlhenny 
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services.  Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com



You can connect with Ellen on any of her #cfoplusservices platforms or ellen@cfoplusservices.com
https://cfoplusservices.com
Connect on LinkedIn
Follow on Facebook




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  • HOME
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      • North American Partners >
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      • William Eastman
      • David Wilson
      • Ellen McIlhenny
      • Angela Chaney
      • Richard Miller
      • Ravin S. Papiah
      • Steve Sweeney
      • Kasfia Rashid
      • Bob DiGiacomo
      • Lisa Askwith
      • Ally Nitschke
      • Russell Colbourne
      • Jeremy Gray
      • Raj Kapur
      • Crystal Y. Davis
      • Sarita Johan
      • Brandon Souba
      • Kevin Beers
      • Londina Cruz
      • Bert Robinson
      • Jonathan Kennedy Jr
      • Damian Johnson
      • Rick Carter
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