Ready to sell your small business? Learn the five stages of figuring out your company’s value maturity, and four types of capital, when Michael Balstad, certified exit planning advisor and founder of Bizleavable joins host and SBDC director, Kelly Bearden on this week’s free webinar presented by the Small Business Development Center at CSU Bakersfield.
Bearden begins the webinar with information on Beneficial Ownership Information (BOI) reporting and the Corporate Transparency Act, as well as the Employee Retention Credit Amnesty Program and how to qualify.
This marks the 307th episode of the weekly “Webinar Wednesday” business series that provides news and information helpful to employers and business owners. New and existing businesses can sign up for no-cost assistance by clicking here!
TIMESTAMPS The bold blue link below is a direct link to Michael Balstad's PowerPoint Presentation on Selling Your Business, "Countdown to a Successful Exit"
00:00 Intro
00:42 What’s up today January 31, 2024
03:25 Poll Question #1: “The Federal Reserve will likely cut interest rates in 2024? How important are lower interest rates for your business?”
05:16 Poll Question #2: “If you are considering transitioning from your business, when is that most likely to occur?”
07:00 Poll Question #3: “Elon Musk draws no salary from Tesla but is still compensated. A judge rejected a pay package to Musk in what amount?”
08:44 Farewell to Mid State Development Corporation
09:49 Status of key local programs
10:55 Downtown recovery rankings of 66 US cities
12:15 Why ERC Amnesty? https://www.irs.gov/coronavirus/employee-retention-credit-voluntary-disc...
13:39 What you need to qualify for 80 percent ERC Amnesty
14:35 Capital Corridor – owner or seller financing on business acquisitions
14:59 Seller funding tips?
16:59 Beneficial Ownership Information – Corporate Transparency Act https://www.fincen.gov/boi
18:21 Community Calendar: Power Pitch application deadline for women entrepreneurs has been extended to Feb. 9, 2024 https://bakersfieldwomen.org/power-pitch/
18:52 Community Calendar: Indian Wells Valley Economic Outlook Conference Feb. 22, 2024
19:16 Bakersfield Food Service Management Program
19:56 12-week Home Daycare Business Start-Up with Nurture- $1,000 start-up grants 20:30 CSUB YouTube Channel
21:50 FREE Human Resources Hotline for Employers
22:08 Kelly introduces Michael Balstad, certified exit planning advisor & founder of Bizleavable
23:28 Michael Balstad begins to speak
23:56 Michael talks about the upcoming March program - “Things to consider when selling your business”
27:13 The 5 Stages of Value Maturity
42:19 Four Types of Capital, also known as the 4-Cs
51:16 Evaluating the Three Gaps Standing in Your Way
55:09 Three Legs of the Exit Planning Stool
57:15 Two Paths, One Destination
59:47 Mission Accomplished
1:00:39 Kelly rejoins Michael with details on the 5-part March series “Buying or Selling Your Business”
