Working your way out of your business
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>>>>>>Indicates sources of owner's revenueWk. HrsWk. Hrs
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Frequently the Current StateStep One
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Sources of CEO's Earnings (all)Income StatementSources of CEO's Earnings (some)Income Statement
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SalesSales
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>>>>>>Cost of Goods/Services Sold27>>>>>>Cost of Goods/Services Sold15
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Gross ProfitGross Profit
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>>>>>>Selling Expenses (Comm + all Other)9>>>>>>Selling Expenses (Comm + all Other)15
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Contribution MarginContribution Margin
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General & Administrative ExpensesGeneral & Administrative Expenses
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>>>>>>Administrative Salaries151. Get out of thisAdministrative Salaries5
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Rent, Utilities, Office Expense, etcRent, Utilities, Office Expense, etc
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>>>>>>Executive Salary10>>>>>>Executive Salary10
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Total General & Administrative ExpensesTotal General & Administrative Expenses
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Net Profit (Loss) [Before Taxes)Net Profit (Loss) [Before Taxes)
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>>>>>>Portion of Profit>>>>>>Portion of Portion of Profit
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Current Year's Retained EarningsCurrent Year's Retained Earnings
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Business Value( Based on 1 times earnings)Business Value( Based on 2 times earnings)
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Note: This is not a sustainable model.
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Total Hrs.6145
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Step TwoSteps Three and Four
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Sources of CEO's Earnings (less)Income StatementSources of CEO's Earnings (one)Income Statement
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SalesSales
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2. Get out of thisCost of Goods/Services Sold2. Get out of thisCost of Goods/Services Sold
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Gross ProfitGross Profit
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>>>>>>Selling Expenses (Comm + all Other)3. Get out of thisSelling Expenses (Comm + all Other)
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Contribution MarginContribution Margin
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General & Administrative ExpensesGeneral & Administrative Expenses
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1. Get out of thisAdministrative Salaries1. Get out of thisAdministrative Salaries
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Rent, Utilities, Office Expense, etcRent, Utilities, Office Expense, etc
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>>>>>>Executive Salary4. Get out of thisExecutive Salary
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Total General & Administrative ExpensesTotal General & Administrative Expenses
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Net Profit (Loss) [Before Taxes)Net Profit (Loss) [Before Taxes)
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>>>>>>Portion of Portion of Profit>>>>>>Portion of Portion of Profit
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Current Year's Retained EarningsCurrent Year's Retained Earnings
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Business Value( Based on 3 times earnings)Business Value( Based on 3.5 times earnings)
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