About the Book
Are you ready to turn the page from business owner to successful seller?
Selling your business is a journey paved with uncertainties.
- How do I accurately value my business?
- How do I find the right buyer?
- What should I expect from due diligence?
- How do I navigate the complexities of the purchase agreement and other legal documents?
These and other issues can overwhelm even the most seasoned entrepreneurs, jeopardizing the culmination of their life’s work. Yet too many business owners still carelessly and foolishly run headfirst into the sale process without a complete understanding of the complications, uncertainties, issues, and unique challenges associated with selling a business. Legal intricacies intertwine with financial considerations—along with the emotional weight of parting with something you’ve nurtured from its inception. No wonder the journey can seem insurmountable.I’ve leveraged over 30 years of experience advising owners to demystify the often daunting process of selling a business.
In this book, I begin by addressing the fundamental question every business owner faces: “When is the right time to sell your business?” From there, I discuss some of the mistakes and misunderstandings owners have about the sale process so you can avoid them.
Then we dive into the main process of the sale. I take you on a tour of how professional advisors can help you in the sale process and how to prepare for the sale. Then I guide you through the critical stages of the selling process, where I outline business valuation techniques and finding the right buyer. Once you’ve travelled down this path, I discuss the letter of intent, due diligence, and all the legal documents you’ll encounter in the sale process, most importantly the purchase agreement.
Pivotal chapters focus on structuring the deal as an asset vs stock sale, the best legal and tax strategies, and how these can all affect the deal terms. And when the deal is signed and done, I’ll discuss some of the issues you’ll have to deal with after the closing.
The Big Deal is not just about the mechanics of selling; it’s a practical guide to doing so in a way that will leave you with confidence and clarity as you begin the journey of selling your business.
