In this episode of Unscripted Small Business, Abbey Crane interviews Stephanie Hayes, an acquisition entrepreneur and business strategist/coach. They discuss the often-overlooked topic of exit strategies for entrepreneurs, emphasizing the importance of aligning business models with personal values and understanding the various types of business assets.

Stephanie shares her journey into entrepreneurship, her insights on acquisition entrepreneurship, and the differences between consulting for large corporations versus small businesses. The conversation highlights the need for entrepreneurs to think about their long-term goals and the creative options available for exiting their businesses.

Killer Quotes

"You're a unique individual with unique experiences and unique needs and wants. You've got to build your business around that."

"Don't hesitate to get started now. Even from the very, very beginning, there are things that you can do to keep defining and working towards what your longer term strategy is."

"Oftentimes, entrepreneurs think they have a marketing problem, but really, what they've got is an alignment problem. And they’ve got to go back to the very beginning to make sure that the business they're running is actually aligned with who they are, what they want, and what they need from their business."

"You get to choose your exit, and you get to define what that looks like for you."

"You have to be willing to change your beliefs in order to grow."

Key Takeaways:

• Exit strategies are incredibly important elements of the business model to consider.
• Acquisition entrepreneurship allows for growth without starting from scratch.
• Aligning business models with personal values is crucial for success.
• The Growth and Profit Business Model Framework helps in building valuable assets.
• Small business consulting is more emotionally driven than corporate consulting.
• It's never too early to start thinking about exit strategies.
• Identifying business assets can significantly increase a business's value.
• Selling parts of a business is a viable strategy for entrepreneurs.
• Avoid rigid structures when planning your exit strategy.
• You can define your own exit strategy based on personal goals