Selling Your IT Business: Valuation, Finding the Right Buyer, and Negotiating the Deal / Edition 1

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Overview

You put your heart into it. What will you get out of it? And how?

Selling Your IT Business gives a complete overview of the selling process, covering everything from valuation to finding the right buyer to negotiating strategically to closing the sale. The information is presented step-by-step, complete with sample forms, checklists, and agreements. Because it focuses exclusively on IT businesses, this guide provides in-depth information about issues unique to them. It covers:

  • Characteristics of an IT business that entice buyers, such as a strong management team; reasonably predictable financial performance; sought-after offerings; strong relationships with customers, lenders, and suppliers; a diversified customer base; and more
  • The different types of buyers and what motivates them
  • Financial metrics to monitor and improve IT business performance
  • Creating a selling memorandum that paints a complete picture of the business, covering products and services, customers, competitors, financial information, and more
  • Preparation of the business plan, including detailed descriptions of its components
  • Valuation, including the key factors in determining the value of a business
  • The letter of intent, the due diligence process, the contract, utilizing attorneys and CPAs, and more
  • The seller's future role in the business (if any) and compensation

Invaluable to IT business owners interested in selling their businesses and to their accountants, lawyers, and advisors, the book also includes advice and information useful for entrepreneurs striving to build their businesses, covering topics such as attracting and retaining good employees, non-compete agreements, and more. It helps IT business sellers and buyers understand the process, know what to look for, avoid common pitfalls, and seal a deal that benefits both parties.

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Product Details

  • ISBN-13: 9780471740766
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 1/20/2006
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 239
  • Sales rank: 1,450,805
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.69 (d)

Meet the Author

Robert J. Chalfin, CPA, Esq., is a longtime Lecturer in Management at The Wharton School of the University of Pennsylvania, an Attorney, certified public accountant, and President of The Chalfin Group, Inc., which provides strategic planning and advisory services in connection with the purchase and sale of entrepreneurial businesses, many in the IT industry. He has served IT businesses in a variety of capacities including corporate board member, consultant, and investor. He is a frequent speaker at industry forums and conferences.

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Table of Contents

Acknowledgments
Preface
Chapter 1: What Buyers Are Looking For
Chapter 2: Why Sell?
Chapter 3: Types of Buyers
Chapter 4: The Selling Memorandum
Chapter 5: Attracting and Retaining Key People
Chapter 6: Financial Metrics
Chapter 7: Your Board
Chapter 8: Marketing Your Business for Sale
Chapter 9: Valuing Your Business: An Introduction
Chapter 10: Valuation: Book Value of the Stock and Financial Condition of the Business
Chapter 11: The Company's Earnings Capacity: Profit and Loss Statement; Dividend Paying Capacity, The Size of the Block of Stock to Be Valued, The Market Price of Similar Stocks
Chapter 12: Methods of Determining a Business's Value
Chapter 13: Confidentiality: An Introduction
Chapter 14: Confidentiality: Limiting Data Dissemination and Preparing Confidentiality Agreements
Chapter 15: Letter of Intent
Chapter 16: Due Diligence
Chapter 17: Forms of Acquisition, Contract of Sale, Utilization of Attorneys and Certified Public Accountants
Chapter 18: After the Sale
Appendix Online Resources
Index
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  • Anonymous

    Posted January 19, 2006

    An Outstanding Source for IT Entrepreneurs

    I have had the pleasure of getting to know Bob and had him as a professor at Wharton. He applies the same level of energy and enthusiasm that he brings in the classroom to this very practical book. I have had many people come up to me and tell me if they had only known Bob or read his book before they sold their business, they would be in a much different and better situation. His knowledge of the topic is unbelievable and he brings so much practical experience to his latest book. I hope everyone gets to experience the wonderful work Bob does by reading his new book.

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  • Anonymous

    Posted January 18, 2006

    This Book is a Lifesaver!

    Chalfin's user-friendly guide to selling your IT business is a must for anyone in the complicated and often stressful position of putting his or her firm on the market. From illuminating the possible motives of the seller to providing a concise guide to marketing your business, this book gives sound and concrete advice. You will not faced with an abstract, inaccessible microeconomics text, as some how-to works by business school faculty can turn out to be. Rather, you will finish this digestible book a more savvy and resourceful seller. To start with, you will be better equipped to evaluate whether it is the right time to sell your IT business in the first place. Chalfin also provides useful alternatives to an outright sale, such as partially selling to a third party, hiring a competent management team to take over operations, selling the firm to key employees, and liquidating the company. You will be better able to market your business, make changes to increase its appeal to buyers, and negotiate a satisfying sale. Chalfin illustrates how to gauge the seriousness and flexibility of an offer, an insight that can make your sale smoother and more predictable. There is no reason to spend years building up your IT business only to lose out in the end because you lacked the necessary tools to bring about a successful sale. Without Selling Your IT Business: Valuation, Finding the Right Buyer, and Negotiating the Deal, my own transaction would have been a nightmare. Fortunately, I found this practical and accessible guide. Chalfin's experience, both as a Lecturer in Management at the Wharton School of the University of Pennsylvania, and his professional work as President of a New Jersey-based firm that, among other things, provides consulting services to IT companies, informs his opinions every step of the way.

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