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Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-10047090531X

ISBN-139780470905319

eBay Product ID (ePID)8038659365

Product Key Features

Book TitleBusiness Exit Planning : Options, Value Enhancement, and Transaction Management for Business Owners

Number of Pages208 Pages

LanguageEnglish

Publication Year2011

TopicFinance / General, Strategic Planning, Corporate Finance / General

IllustratorYes

GenreBusiness & Economics

AuthorLes Nemethy

Book SeriesWiley Finance Ser.

FormatHardcover

Dimensions

Item Height0.8 in

Item Weight13.5 Oz

Item Length9.1 in

Item Width5.8 in

Additional Product Features

Intended AudienceTrade

LCCN2010-053528

Dewey Edition22

Series Volume Number9

Dewey Decimal658.1/64

Table Of ContentPreface xi Acknowledgments xv Disclaimer xvii Foreword xix Introduction: The Challenge of Exiting Your Business 1 Three Overarching Themes 6 A Few Words of Advice 9 Part I Business Exit Planning 11 Chapter 1 An introduction to Business Exit Planning 13 Ways to Exit Your Business 14 What is Business Exit Planning? 15 Evidence on Why Business Exit Planning is Necessary 16 Understand Your Motives 17 The Special Case of Retirement 20 Chapter 2 Begin with the Endgame in Sight 23 Develop a Game Plan 24 Value Systems and Visualizing the Endgame 25 Chapter 3 Exit Options 29 Intergenerational Transfer 29 Initial Public Offering 32 Merger 35 Hiring Professional Management 36 Management Buyout 37 Refinancing 38 Employee Stock Ownership Plan 39 Liquidation 39 Choosing the Right Exit Option 39 Chapter 4 Building Your Team to Assist Your Exit 43 Reasons for Building a Team 43 Composition and Role of Your Team 45 Selecting Advisors: An Overview 53 Your Advisors'' Ethical Standards 55 Chapter 5 Building a Business with Sustainable Value 57 Look at Your Business from an Investor''s Perspective 58 Clarifying and Adjusting Corporate Strategy 59 Corporate Governance, Systems, and the One-Man Show 61 Pre-Transaction Restructuring 68 Identify and Manage Risks 72 Operational Improvements to the Business 78 Non-Arm''s-Length Situations 82 Chapter 6 Business Plan and Valuation 85 Reasons for Making a Business Plan 85 Should You Perform a Valuation of Your Business? 87 Recasting Financial Statements 88 Building a Business Plan 90 Introductory Comments on Valuation 91 Types of Valuation 93 Adjustments to Valuations 96 Chapter 7 Tax Planning, Estate Planning, and Insurance 101 Tax Planning 101 Estate Planning 102 Use of Insurance in Your Exit Strategy 105 Chapter 8 Finalizing Your Exit Strategy 107 What Type of Investors Should Be Targeted? 108 Should There Be a Listing or Asking Price? 110 Should There Be a Competitive Process? 110 Why Use a Competitive Process in Selling a Business? 112 What are the Possible Drawbacks of a Competitive Process? 114 Timing Your Exit 115 Communicating with Other Shareholders 116 Your Contingency Plan 117 Business Exit Planning Report 117 Part II Managing the Transaction 119 Chapter 9 The Transaction Process 121 Overview of a Competitive Process 122 Confidentiality through a Transaction Process 124 Involving Company Staff in the Transaction Process and Communications with Investors 129 Marketing Your Opportunity: From Long List to Short List 131 The Information Memorandum 132 Nonbinding Offers 135 Due Diligence 135 Binding Offers 141 Exclusivity 141 Transaction Structuring 142 Head of Agreement 145 Sale and Purchase Agreement 146 Closing the Transaction 151 Noncompetitive Processes 151 Chapter 10 Negotiating a Transaction 153 Get to Know Your Negotiating Partner 154 Let Your Negotiating Partner Make the First Offer 155 Concede in Small Increments 155 After Asking a Crucial Question, Hold Your Tongue 155 Every Term of the Deal Also Depends on Every Other Term 156 Be Prepared to Walk Away from the Deal 157 Know Your Best Alternative 157 Chapter 11 Cross-border Transactions 159 Why Don''t More People Market Their Companies Internationally? 160 The Challenges of Cross Cultural Negotiations 162 Conclusion: The Only Question with Wealth is, What Do You Do with It? 165 Revisiting the Three Overarching Themes 165 You Have Raised Your Cash. What Next? 167 The Macroeconomic Effects of Succession Failure 170 Notes 173 Glossary 175 References 179 About the Author 181 Index 183

SynopsisThe most viable exit strategies for owners of mid-sized companies For many business owners, cashing out of a business is a lifelong dream. For some, exiting a business can be a nightmare., The most viable exit strategies for owners of mid-sized companies For many business owners, cashing out of a business is a lifelong dream. For some, exiting a business can be a nightmare. Business Exit Planning: Options, Value Enhancement, and Transaction Management for Business Owners provides a comprehensive view of what every business owner needs to know to plan and execute a business exit. The book Includes 30 relevant mini-case studies on business exit planning and transaction management, as well as a glossary of frequently used technical terms Details options for those owners who no longer want to be active in the business, as well as for those who want to remain invested Covers a wide range of topics related to business exit planning and transaction management, including IPO, MBO, refinancing, ESOPs, building an exit team, business plan and valuation, due diligence, and estate planning Regardless of whether a business owner seeks an immediate exit or a staged exit over time, Business Exit Planning provides a comprehensive strategy and road map to define exit-related objectives., BUSINESS EXIT PLANNING Options, Value Enhancement, and Transaction Management for Business Owners Comprehensive strategies for planning and managing the sale of a business Anyone can buy or create a company but how do you exit successfully? This book provides a comprehensive view of what you, as a business owner, need to know to plan and execute your business exit. Filled with illustrative case studies, Business Exit Planning covers all the essential business exit planning topics, including IPO, MBO, refinancing, ESOPs, exit team building, business plan valuation, due diligence, estate planning, and much more. Aimed primarily at owners of mid-sized businesses (minimum values in the range of $10 million to $100 million), the book offers a wide range of options including options for those who want to exit in the financial sense, but remain active in the business; options for those who no longer want to be active, but may want to remain invested in the business; and options for those who want to sever ties completely. The path to exiting a business can seem like an intimidating, tangled maze. With this book as your guide, you can join the millions of business owners who have exited smoothly and successfully.

LC Classification NumberHD30.28