Umfang:
1 Online-Ressource (272 Seiten)
Ausgabe:
1st ed
ISBN:
9781394214006
Anmerkung:
Description based on publisher supplied metadata and other sources
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Cover -- Title Page -- Copyright Page -- Contents -- Introduction -- Chapter 1 The Art and Science of Selling a Company -- Congratulations -- I'm Here to Help -- Let's Level the Playing Field -- The Old "Dating Game" -- Before we Start -- Chapter 2 What's My Business Worth? -- Just Give Me the Bottom Line -- Multiples Framework -- Three Factors Driving Multiples -- Growth -- Risk -- Supply-Demand Factors -- Top 3 Takeaways -- Chapter 3 What Are We Bultiplying By? -- Buyers Buy the Future -- Nonbusiness or Personal Expenses -- Nonrecurring or Extraordinary Expenses -- Accounting Adjustments -- Pro Forma Adjustments -- Addbacks are a Two-Way Street -- Top 3 Takeaways -- Chapter 4 Picking the Right Time to sell -- Timing is your Edge -- Company Trajectory -- Industry Environment -- Market and Macroeconomic Environment -- Personal Factors -- Avoid Forced Sales at All Costs -- Top 3 Takeaways -- Chapter 5 No Learning on the Job -- Penny-Wise, Pound-Foolish, do it Yourself -- The Value of Expertise -- What an Investment Banker Does -- Get the Company Ready for Sale -- Manage the Transaction Process -- Frame the Opportunity -- Craft and Execute a Tailored Process to Maximize Competitive Intensity -- Identify and Reach Out to Prospective Buyers -- Serve As a Buffer Between You and Potential Buyers -- Negotiate the Best Terms -- Hold Your Hand -- Support Attorneys with Drafting the Sale Documents -- Factors to Consider when Selecting your Banker -- Take Time to Understand the Prospective Investment Bankers' Track Records -- Only Consider Firms That Specialize in Your Company's Size Range -- Who Will Be Working on My Deal? -- How Many Deals Do You Typically Take On, and How Much Time Can You Devote to My Transaction? -- Ask Them to Walk You Through Their Proposed Marketing Strategy
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Inquire about How Much Support Owners Get in Compiling and Organizing Materials for Prospective Buyers -- Discuss the Similar Deals That They Have Completed over the Past Few Years -- Decide between Industry Specialists vs. Generalists -- The Trust Checklist -- Expected Fees -- Engagement Letter Overview and Norms -- Top 3 Takeaways -- Chapter 6 M& -- A Is a Team Sport -- The M& -- A Attorney -- Other Deal Team Roles -- Tax Specialist -- The Accountant -- Expected Fees -- Top 3 Takeaways -- Chapter 7 Who's Going to Buy My Business? -- Strategic Buyers -- Playbook -- Private Equity Funds -- Playbook -- Independent Sponsors -- Search Funds -- Family Offices (Ultra-High-Net-Worth Individuals) -- Playbook -- Management Buyout -- ESOP -- Top 3 Takeaways -- Chapter 8 The Siren Call of the Unsolicited Offer -- Interested Prospects aren't Necessarily Serious -- Risk of Testing the Waters -- How to Handle the Calls -- Top 3 Takeaways -- Chapter 9 What Does a Buyer Want? -- Feasting on Bids or Starving for Attention -- What Creates Value for Buyers -- Typical Buyer Team -- Buyer Review Process -- Common Buyer Deal Tactics -- Top 3 Takeaways -- Chapter 10 Choosing the Right Transaction Type -- Total Exit -- Control Buyout -- Governance -- Minority Growth Partner -- Governance -- Debt Recapitalization -- Top 3 Takeaways -- Chapter 11 Bad News -- Existential Risks -- Other Common Value Detractors -- Top 3 Takeaways -- Chapter 12 Reverse Engineering Your Business -- Using Private Equity as a Role Model -- Sale Readiness: Short-Term Time Horizon -- Luxury of Time: Mid- to Long-Term Time Horizon -- Top 3 Takeaways -- Chapter 13 The Art of Selling -- Pacing is Important -- Handle Obvious Objections Early -- Forward Progress -- Back to Dating -- Taking a Buyer's Perspective -- Top 3 Takeaways -- Chapter 14 Negotiating Strategy
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Every Interaction is a Negotiation -- Don't Forget the Human Element -- Managing Relations with the Counterparty -- Preparation is Half the Battle -- Leverage -- The Dangers of Bluffing -- Striking a Balance -- You Make the Call -- No-Regret Moves -- Top 3 Takeaways -- Chapter 15 Overcoming Inertia -- Building Momentum -- Minimizing Friction -- Speeding up by Slowing Down -- Make it Easy for them to Say Yes -- Minimize Miscommunications -- Top 3 Takeaways -- Chapter 16 Documents and Deal Process -- Teaser -- Nondisclosure Agreement (NDA) -- Confidential Information Memorandum (CIM) -- How the Process Unfolds -- Preparation -- Engaging Buyers -- Execution and Closing -- Top 3 Takeaways -- Chapter 17 Tailoring the Process -- How Wide should you Go? -- Weighing the Variables -- Selecting the Right Buyers to Approach -- Identifying Relevant Buyers -- Prioritize and Focus -- Contacting the Right Individuals -- Luxury of Being Intentional -- Top 3 Takeaways -- Chapter 18 Keeping the Secret -- Preventing Leaks -- Considerations for Interested Strategic Buyers -- Handling Leaks -- Telling Employees -- Aligning Incentives with Critical Team Members -- Top 3 Takeaways -- Chapter 19 It's a Process -- Navigating the NDA -- Initial Conversations -- How to Field Questions Regarding your Motivation to Sell -- Deflecting Questions about your Asking Price -- Managing Follow-Up Requests -- Handling Rejection -- Top 3 Takeaways -- Chapter 20 Seeing Where You Stand -- Selecting who to Invite -- Management Meetings -- Get into the Right Frame of Mind -- Own Your Story -- Site Visits -- Adhering to the Process -- Top 3 Takeaways -- Chapter 21 Purchase Price and Terms -- Enterprise Value -- Different Forms of payment -- Earnouts -- Seller Financing -- Rollover Equity -- What You're Signing Up for -- Publicly Traded Acquirers -- Making an Informed Decision
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Normalizing and Comparing Offers -- Top 3 Takeaways -- Chapter 22 Negotiating and Signing the Letter of Intent -- The Leverage Shifts with the Stroke of a Pen -- Key Elements of an LOI -- Exclusivity -- Structure (Stock vs. Asset Purchase) -- Valuation -- Form of Payment -- Treatment of Working Capital -- Handling Real Estate and Other Noncore Assets -- Key Assumptions -- Intentions For management -- Process -- Forcing Clarity -- Likelihood of Closing -- Making a Fully Informed Decision -- Making the Final Call -- Keep Losing Bidders Warm -- Top 3 Takeaways -- Chapter 23 Playing Defense -- Prepare Yourself Emotionally and Psychologically -- Confirmatory Due Diligence -- Get Ready for your Financial and Legal Closeup -- Third-Party Advisors Jump in the Mix -- Timeline Matters -- Fend off Retrading -- Navigate Misunderstandings -- Resolve Any Ownership Issues Early -- Top 3 Takeaways -- Chapter 24 Legal Documentation and Critical Elements -- Purchase Agreement -- Reps, Warranties, and Indemnification -- Indemnification - Paying for Breaches -- Escrows -- Simultaneous vs. Deferred Closing -- Getting the Calculations Right -- How the Process Unfolds -- Managing your Mindset and Stamina -- You are the Ultimate Decision-Maker -- Top 3 Takeaways -- Chapter 25 Closing Craziness -- Post-Closing Transitions -- Breaking the News to Employees -- Notifying Major Customers and Suppliers -- Release of Escrows -- Top 3 Takeaways -- Chapter 26 Managing Your Emotions and Psychology -- Self-Sabotage is Real -- Prepare for Life Post-Transaction -- Expect Changes -- Arrival Paradox -- Finding a New Identity -- Searching for Meaning -- Lack of Structure -- Next Task - Your Personal Transformation -- Dealing with Regret -- Develop a Game Plan -- Managing Your New Wealth -- Find the Right Advisors -- Becoming an Investor? Tread Cautiously -- Top 3 Takeaways -- Postscript
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Acknowledgments -- About the Author -- Glossary -- Bibliography -- Index -- EULA.
Weitere Ausg.:
Erscheint auch als Druck-Ausgabe McCombie, David W., III Selling Your Business with Confidence Newark : John Wiley & Sons, Incorporated,c2024 ISBN 9781394213993
Sprache:
Englisch
