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How to Sell Your Privately Owned Company: A Basic Guide for Independent Business Owners [NOOK Book]

Overview

Building a business can be a life-long adventure. Selling it - or merging it with another company - should be the culmination of the saga. A perfect ending gives you the financial security and liquidity that will carry you for the rest of your life. This practical "A to Z guide" reveals how and when to sell or merge your company . . . for the most money! Inside you'll discover cutting-edge strategies and ...
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How to Sell Your Privately Owned Company: A Basic Guide for Independent Business Owners

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Overview

Building a business can be a life-long adventure. Selling it - or merging it with another company - should be the culmination of the saga. A perfect ending gives you the financial security and liquidity that will carry you for the rest of your life. This practical "A to Z guide" reveals how and when to sell or merge your company . . . for the most money! Inside you'll discover cutting-edge strategies and tactics that reveal . . .
• What to consider when making the decision to sell
• How to get the right help
• How to put a price tag on your company
• How to prepare a plan for selling your business
• How to find the right buyer
• How to make the right deal
• How to successfully close the sale... and the door
• And much, much more
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Product Details

  • ISBN-13: 9780984050123
  • Publisher: ERV Productions, Inc.
  • Publication date: 8/19/2009
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 196
  • File size: 2 MB

Meet the Author

Eric R. Voth is a serial entrepreneur, a private investor, consultant, and author. He and his colleagues help a business seller prepare and groom his or her company prior to offering it for sale or merger, and then guide the owner through the actual process. He became involved in this field as a result of merging his own company in 1993. As a business transaction consultant, he works as a ""matchmaker,"" referring potential business sellers to qualified merger and acquisition intermediaries, investment bankers, or business brokers.
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Table of Contents

Introduction 11

Overview This book: What's in it for you? 19

Chapter 1 Making the Decision to Sell Your Business 25

Am I bored with this business? 26

Am I concerned about the direction of the economy and how it will affect my business? 26

Is my industry changing too fast? 27

Do I plan to retire in the near future? 27

Are the key decision makers in my company moving in the right direction? 28

Does my business offer a specialty product or service that a larger company wants? 29

Do I need to sell this business to make room or to raise cash for my other interests? 30

Am I faced with a personal challenge, such as an illness or prospective divorce? 30

Why am I doing this? 30

Why sell? George Sierchio 32

Andrew Rogerson 34

Chapter 2 Getting the Right Help 43

For sale by owner? 43

My first radio show Scott D. Mashuda 45

The cost of selling a business 51

Someone to make it legal 51

What's a lawyer to do? 52

Someone to make it lucrative 53

What's an accountant to do? 53

Someone to make it happen 53

What's an intermediary to do? 56

Keeping the confidence 56

Paying now instead oflater 57

Check them out 58

Your commitment 58

Selecting the best business broker to sell your business Scott D. Mashuda 59

Chapter 3 Putting a Price Tag on Your Business 67

Blood, sweat, tears, and dollars 67

What's happening outside your doors? 68

It's about timing 68

What goes in affects what goes out 69

Your product or service 69

Your management team 70

Your customer base 70

Your place in the industry 70

Your industry in the place 71

Your commitment to "just in time" 71

Your location 71

Your research and development efforts 71

Youremployee pension fund 72

Your balance sheet 72

No perfect world 73

How does your business look? 73

How much is this business really worth? 74

You're too close 74

It's easy with a crystal ball 75

Capitalized Earnings Method 75

Excess Earnings Method 76

Balance Sheet Method 77

Cost to Create Method 77

Industry Multipliers Method 77

Pricing sources 77

A common thread 77

The defense rests 79

Understanding the language Scott D. Mashuda 79

Pricing a cash-negative company Scott D. Mashuda 83

Chapter 4 Preparing a Plan for Selling Your Business 89

Seller with a timeline George Sierchio 89

Would your "house" be ready to show? 91

Time to fix things up 91

Many businesses may take up to one year to sell 91

First impressions 92

What would be said about your business? 92

Make them drool 94

Appearance should not be deceiving 94

What do you need to change (regarding physical appearances)? 95

Documentation: Creating a Management Book 95

Employees 99

Liabilities 99

Assets 100

Contracts 101

Reputation 102

Financial Statements 102

No wonder it takes a year! 104

Creating your preliminary prospectus 104

Sales Pitch 106

Photographs/Video/PowerPoint on CD 106

Company History 106

Selling Price and Terms 107

Company External Environment 107

Employee Information 108

Asset Assessment 109

Environmental Issues 110

Generic Client List 111

Contracts and Agreements 111

Location 112

Projections 112

Supporting Financial Documentation 112

Product and Service Literature 113

Caution! 113

Summary information checklist 114

Required information Scott D. Mashuda 116

Chapter 5 Finding the Right Buyer for Your Business 123

Whom would you pick to buy your business? 123

Selling to a competitor 124

Customers or suppliers 125

Could employees be buyers? 125

Isn't anyone qualified to buy? 126

Investor Groups 126

Strength in size and numbers 126

Industry Consolidators 127

In search of the right buyer 128

In confidence 128

Who is the buyer for your business? Scott D. Mashuda 129

Maximize your company's selling price David Mahmood 131

Chapter 6 Making the Right Deal 137

What's your worry? 137

Buyers lose sleep too 138

Rest assured 138

You play the banker 139

Taking stock in the buyer's company 140

Dealing with differences 141

Call in the experts 142

Get into the buyer's head 143

A common negotiation strategy 143

Commit in writing 143

Show me the money! 144

Due diligence 145

The Agreement to Purchase 146

K.I.S.S 146

Chapter 7 Successfully Closing the Sale-and the Door 149

The moment of truth 149

The fastest year in history 149

What's your plan? 150

Your personal plan 150

The Wheel of Life 151

Physical Health 153

Relationships and Family Life 154

Ethical and Spiritual Concerns 154

Mental Attitude 154

Financial 155

Social Life 155

Chapter 8 In Conclusion 159

Go back to the beginning 159

Why exit planning? Kerney Laday Doug Ortegas 160

You too will die. Not if, but when David Mahmood 162

Your worst enemy 164

Chapter 9 Glossary of Terminology 167

Chapter 10 Internet Resources and Words of Caution! 177

Chapter 11 Profiles of Contributing Writers 183

Kerney Laday Jr., Dallas, Texas 183

David Mahmood, Dallas, Texas 185

Scott D. Mashuda, Pittsburgh, Pennsylvania 187

Doug Ortega, Dallas, Texas 189

Andrew Rogerson, Sacramento, California 191

George Sierchio, Parsippany, New Jersey 192

Eric R. Voth (author), Humble, Texas 194

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