When forming a small business and creating your small business development strategy, many entrepreneurs and business owners forget one of the most important considerations: the exit strategy, i.e. how you will one day exit your business.

Especially in the beginning, it’s not easy to think about how your business will end, or how you will transition out of managing the business. However, when your business is just starting out is often the best (and least complicated) time to discuss your exit strategy.

In the beginning, your business is small (in number of employees and cash), there aren’t significant liabilities, and the business has only a few contracts with individuals outside the company. It becomes increasingly difficult to discuss exit strategies as your…

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I recently read an article that discussed the best places in the world to start a business. Initially, I was drawn in by the headline “Best Place in the World to Start a Company.” The article went on to describe a Yale professor’s argument regarding geography and its importance in the success rate of businesses. It seems as though best startup locations has been a hot topic in the media lately, however, this article gives a markedly different opinion.

Most articles boast the success rates from Silicon Valley or New York City, or  international startup communities like India and Greece. The recent study out of Yale found a different “ideal location” to start a business: your hometown.

Professor Olav Sorenson told the…

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Deemed a Thursday must-read (at least for small business owners and entrepreneurs) by the Wall Street Journal, this article details the impact of Y Combinator, a startup accelerator, including its potential inflation of startup valuations. Some believe these increased valuations—resulting largely from the hype generated from some of the successful Y Combinator startups, including Dropbox, Airbnb, and Socialcam—have made early-stage startups more expensive across the board. Check out the entire article to learn about why investors believe Y Combinator startups are overly priced, and how these valuations are impacting the startup community as a whole.

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Today I came across a great series published by the Puget Sound Business Journal called From Beginners to Big Shots. The series details different tools that local business owners and entrepreneurs used to start and grow their small businesses. If you’re a small business looking for advice on tools you can use to start and grow your business, it’s worth checking out this series.

I especially enjoyed the article about Woodinville Whiskey and their struggles to find a banker. Woodinville’s struggle isn’t uncommon among small businesses. Perhaps their success can provide the necessary motivation for you and your small business to overcome any financing hurdles.

If you have a success story you’d like to share, or you have any helpful advice or tools…

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