Comments on: Exit strategy - prepare well in advance http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/ Sharing lessons learned in business and online marketing Sat, 10 Jan 2009 00:22:11 +0000 http://wordpress.org/?v=2.6.5 By: Exit Signs Joe http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-10098 Exit Signs Joe Thu, 11 Sep 2008 22:06:14 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-10098 My personal exit strategy is that as I get sites up to a descent profit center, outsourcing the work so revenue is not dependant on me performing the work. I just act as a project manager/ceo in a sense. I've also been documenting every process so when the time comes for me to exit the training materials are already built. What do you think? My personal exit strategy is that as I get sites up to a descent profit center, outsourcing the work so revenue is not dependant on me performing the work. I just act as a project manager/ceo in a sense. I’ve also been documenting every process so when the time comes for me to exit the training materials are already built. What do you think?

]]> By: Justin Cook http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8177 Justin Cook Fri, 25 Apr 2008 22:14:37 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8177 This is an excellent post, one of the best in a while. You've got me really thinking ahead now! I think I need to start broadening out my domain approach as well, I have number of my eggs in one or two big baskets, and am depending too much on them as continuable revenue. This is an excellent post, one of the best in a while. You’ve got me really thinking ahead now!

I think I need to start broadening out my domain approach as well, I have number of my eggs in one or two big baskets, and am depending too much on them as continuable revenue.

]]> By: Scott http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8094 Scott Wed, 23 Apr 2008 17:33:38 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8094 I'm not usually a seller so have little experience there to be honest as far as large website sales go, if I do sell I will detail the timeline and any problems/points of interest but for now someone is looking over the books and stats, may come to nothing. Selling a domain is certianly much quicker - ntohing to quanitfy but ownership there so no income or traffic details, ranking, goodwill etc to take into consideration. I’m not usually a seller so have little experience there to be honest as far as large website sales go, if I do sell I will detail the timeline and any problems/points of interest but for now someone is looking over the books and stats, may come to nothing. Selling a domain is certianly much quicker - ntohing to quanitfy but ownership there so no income or traffic details, ranking, goodwill etc to take into consideration.

]]> By: Lukep http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8092 Lukep Wed, 23 Apr 2008 16:43:55 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8092 Scott - when trying to sell one of your established sites, what kind of timescale would you estimate to complete the sale, once you've agreed a fee with a potential buyer? (this is before they've asked you about proving the stats, revenue etc) Do you also think that the sale of an established site sale should take longer than just a domain sale? Scott - when trying to sell one of your established sites, what kind of timescale would you estimate to complete the sale, once you’ve agreed a fee with a potential buyer? (this is before they’ve asked you about proving the stats, revenue etc)

Do you also think that the sale of an established site sale should take longer than just a domain sale?

]]> By: Rob Malvisi http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8086 Rob Malvisi Wed, 23 Apr 2008 08:44:13 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8086 Scott, that's correct, didn't mean to suggest otherwise. You can add up many sales over the years, you only start to pay 18% when the total capital gain on the sum of the sales is over £1 million. Scott, that’s correct, didn’t mean to suggest otherwise. You can add up many sales over the years, you only start to pay 18% when the total capital gain on the sum of the sales is over £1 million.

]]> By: Scott http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8085 Scott Wed, 23 Apr 2008 08:37:19 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8085 Sent you an emali Rob, also according to HMRC they state: "5. An individual will be able to make claims for relief on more than one occasion, up to a lifetime total of £1 million of gains qualifying for relief. " So you can use the £1 million once but it looks like that could be from a couple of sales? Sent you an emali Rob, also according to HMRC they state:

“5. An individual will be able to make claims for relief on more than one occasion, up to a lifetime total of £1 million of gains qualifying for relief. ”

So you can use the £1 million once but it looks like that could be from a couple of sales?

]]> By: Rob Malvisi http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8084 Rob Malvisi Wed, 23 Apr 2008 06:04:57 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8084 Forgot to ask, which site of yours has 8 million visitors a year? Forgot to ask, which site of yours has 8 million visitors a year?

]]> By: Rob Malvisi http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8083 Rob Malvisi Wed, 23 Apr 2008 06:02:57 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8083 There used to be a flate rate Capital Gains Tax Rate on business assets that were over 12 months old of 10% (busines asset taper relief). This has recently been scrapped, and replaced with a flat CGT of 18%, mainly due to to the vast profits made by private equity groups. This then caused an uproar amongst small business owners, so they brought in a compromise of 10% CGT on profits of up to £1M, but you can only use this once, you do not get it every year! There used to be a flate rate Capital Gains Tax Rate on business assets that were over 12 months old of 10% (busines asset taper relief). This has recently been scrapped, and replaced with a flat CGT of 18%, mainly due to to the vast profits made by private equity groups.

This then caused an uproar amongst small business owners, so they brought in a compromise of 10% CGT on profits of up to £1M, but you can only use this once, you do not get it every year!

]]> By: Scott http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8082 Scott Tue, 22 Apr 2008 22:04:08 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8082 I think you are confusing capital gains with income tax 10% base rate which has been removed. I think you are confusing capital gains with income tax 10% base rate which has been removed.

]]> By: Scott http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8081 Scott Tue, 22 Apr 2008 21:53:59 +0000 http://selfmademinds.com/200804/exit-strategy-prepare-well-in-advance/#comment-8081 I phoned on Monday morning, from my understanding they just introduced it, flat rate 10% CGT up to £1 million and then 18% I think. http://www.hmrc.gov.uk/cgt/disposal.htm I phoned on Monday morning, from my understanding they just introduced it, flat rate 10% CGT up to £1 million and then 18% I think.
http://www.hmrc.gov.uk/cgt/disposal.htm

]]>