Moving On

Selling a business is a critical event that may occur only once in a lifetime. This is an event when you can't afford to make a mistake. Small business owners need basic guidance from someone who doesn't have a stake in the sale of their business. Moving On: Getting the Most from the Sale of Your Small Business is a straightforward, highly pragmatic discussion that will guide you through the sales process and help you avoid some of the common pitfalls faced by business owners that lack experience with the process. This book will assist you in finding the right professional help when you are ready.

James F. Grebey, an operations management specialist who provides small business owners with insight into the sales process, helps you recognize pitfalls that could impact your sale negotiations. This book is replete with tips and tools that you will need to drive a successful sale of your business, such as writing the "book" used to market the business, and recommendations to create a working model with a dynamic (what if) spreadsheet to justify your sales projections. Readers will learn where to reach out for qualified professionals that can help with the sale process.

Click here (https://goo.gl/GgLNM8) for the author's related article "The Benefits of Effective Due Diligence for Investors and Business Owners" featured as the cover article on Divestopedia.

Autorentext

James F. Grebey is an operations management specialist who has implemented winning strategies for both large and small businesses. He runs his own management consulting business (Diligent Inc.) and has a track record for exceeding client goals and expectations. He is a licensed business intermediary but spends most of his time helping small business owners position their business in preparation for a sale. He has developed a proprietary operations risk assessment method and works with investors seeking to acquire small businesses.

Inhalt
Chapter 1: Let's Have a Conversation 1

Shadow of the Missing Owner 3

Staying In or Getting Out 4

Who Will This Book Help? 7

Chapter 2: Avoiding Seller's Remorse 9

Why Are You Selling Your Business? 10

Retirement 11

Stepping Up 11

Getting Out from Under 12

Partial Exits 13

Your Goal Is to Maximize the Value of Your Business 14

Not Every Business Can Be Sold 14

Can I Sell My Business If It Has Warts? 17

Why Do I Need to Position My Business to Sell It? 19

I'm Really BusyHow Much of My Time Will It Take to Prepare My

Business? 21

How Long Will It Take to Sell My Business? 22

And a Final Consideration 23

Jim's Bakery Example: Overview 23

Chapter 3: The Sales Process 27

Sales Process Tasks 28

Breaking Down the Steps 29

The Decision to Sell 30

Identify Your Transition Team 30

Position Your Business 31

Interview Bankers and Brokers 31

Listing 32

Prepare Marketing Materials 32

Create a List of Potential Buyers 32

Qualify and Down Select Buyers 34

Letter of Intent (LOI) and/or Purchase Agreement 34

Buyer's Due Diligence 35

Closing 37

Transition Support 37

Chapter 4: Start Thinking about the Value of Your Business 39

Make Sure Buyers Have the Correct Image of Your Business 39

Does Your Business Have Curb Appeal? 40

Be Prepared to Demonstrate Your Business in Operation 43

Talking to Your Employees 44

Jim's Bakery Example 47

Chapter 5: Who Are Your Buyers? 49

Business Buyers Are Not Impulse Buyers 49

Qualified Buyers 50

Looking for Strategic Buyers 51

Looking for Financial Buyers 53

Get to Know Your Buyer 54

Be Open to Earn-Outs and Stock Swaps 55

A Word about Ethics 57

Jim's Bakery Example 58

Chapter 6: Marketing Your Business 61

Where Are Buyers for Your Business Going to Be Found? 61

How Will You Market Your Business? 63

Getting Professional Help 63

Selecting a Sales Agent/Intermediary 64

Having Your Say 65

Marketing Materials 66

Market Relevance 66

Know Your Competition 69 Markets Are Dy...