Sell Your Business Your Way: Getting Out, Getting Rich, and Getting on with Your Life

Sell Your Business Your Way: Getting Out, Getting Rich, and Getting on with Your Life

Hardcover

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Overview

"Your business is your baby. It has your DNA all over it. It has more of you in it than anything you have ever done in your life." — Rick Rickertsen

Whether you built it from the ground up or acquired it and then made it your own, your company is a reflection of your vision, hard work, business savvy, and resiliency. Now that you’re thinking of walking away, you’ll need all those qualities to see you through the deal.

But you’ll also need some frank advice and real strategy to knowing if you’re doing the right thing — and to maximize your profit. Sell Your Business Your Way walks you through the entire selling process. Rick Rickertsen presents the many different ways to structure and finance a sale, and gives you step-by-step guidance to help you:

Decide what your goals are, and if it’s really time to get out.

Prepare for the sale as far in advance as possible.

Separate business from family, and do what’s best for both.

Assemble a team of advisers.

Determine how much your business is worth.

Approach and attract the right buyers.

Structure and close the deal.

And with Rickertsen’s sage investing and tax tips, you’ll learn how to make the most of the payoff. There is also crucial information for family owned businesses, of which only about one-third will make a successful ownership transition to the next generation.

Sell Your Business Your Way features a treasure trove of sample documents, adaptable forms, and — whether you plan to hire one consultant or dozens — a resource listing of hundreds of business brokers, valuation firms, accountants, investment firms, debt-financing sources, and much more.

Selling your business means navigating new and potentially dangerous territory. With the right information and resources, the journey will be not only safe but also exhilarating — and hugely rewarding."

Product Details

ISBN-13: 9780814408964
Publisher: AMACOM
Publication date: 09/28/2006
Pages: 304
Sales rank: 1,246,573
Product dimensions: 6.10(w) x 9.00(h) x 1.30(d)
Age Range: 17 Years

About the Author

Rick Rickertsen is a Managing Partner at Pine Creek Partners, a private equity firm. He was previously Partner and COO at Thayer Capital, and Chairman of the Board at SAGA Systems. He sits on several Boards of Directors, and is the author of Buyout: The Insider’s Guide to Buying Your Own Company.

Table of Contents

"Foreword by Michael Lewis ix

Preface xi

Acknowledgments xv

1.

A Moment of Truth

Looking in the Mirror

1

2.

What Do You Want?

Be Clear About Your Goals

14

3.

First, Get Your House in Order

Prepare for the Sale Years in Advance

43

4.

Take Care of Your Other Children

Family Is Family, Business Is Business

70

5.

Build Your Dream Team (But Remember, It's Your Dream)

Competence and Chemistry—and a Freebie from an Investment Banker!

94

6.

Valuation

How Much Is Your Business Worth?

109

7.

Bring in the Right Buyer

Market the Company to Achieve Your Goals

126

8.

Nail Down the Deal

Drive to a Sale Without Taking Your Eyes off Your Day Job

141

9.

Make the Most of Your Money

Investing Wisely and Avoiding the Tax Man

161

10.

And Now, for Your Next Act . . .

You're a Millionaire, Now What?

182

Appendix A: Get It in Writing

Documents for the Deal

195

Appendix B: Resources

245

Index

297"

What People are Saying About This

From the Publisher

"This is a comprehensive guide for any business owner, large or small, on how to strategize on the sale and maximize value for their companies. And it is written in accessible terms without a lot of Wall Street jargon. It is a valuable resource."

— David M. Solomon, Managing Director, Goldman Sachs

"A few years ago when markets were down, Rickertsen wrote a book explaining how you could buy a company. Now that markets have recovered, Rickertsen is out with a new book telling you how to sell a company. His advice may be as good as his timing."

— David Bonderman, Founder, Texas-Pacific Group

"Rick Rickertsen is one of the most insightful and thoughtful finance professionals I have known. His newest book will become the blueprint for selling companies on the best terms and prices. It is a very smart read by a very gifted writer and thinker."

— Former Secretary of Defense, William S. Cohen, Chairman & CEO, The Cohen Group

"Sell Your Business Your Way is one of the first books to offer a complete view of the entire selling process — from the soft issues such as dealing with family and life after the sale to the hard issues of valuation and due diligence. And it is written with passion."

— Christopher J. Nassetta, CEO, Host Hotels & Resorts

"After buying and selling many companies in my career — and learning lessons the hard way — I wish I'd had this excellent book earlier. Rickertsen empowers sellers with the insights of Wall Street. This is the book that buyers don't want you to have!"

— William L. Walton, Chairman & CEO, Allied Capital"

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