Exit Planning Hardcover - 2011 - 1st Edition

From the rear cover

The decision of whether to exit your business or not is never just a simple yes or no answer. Most business owners find the issue difficult to grapple with because it is not just one decision. Rather, in most cases, there are many interrelated decisions to be made. For example: How much money will you receive upon exit? What is the best timing for your exit, given the economic cycle of your country and industry? What kind of advisors will you need? And what will happen to your staff, clients, and business partners?

Business Exit Planning explains the two major phases of leaving a business: Business Exit Planning and Transaction Management (that is, what a business owner needs to know in manag-ing the exit transaction). It will equip you, the business owner, with a full overview of what's involved in exiting your business. The book provides a wealth of illustrative case studies covering the wide range of options available to owners of mid-sized businesses, including intergenerational transfer, merger, liquidation, and more, as well as options for owners who seek an immediate exit and options for those who prefer a staged exit over time.

Throughout the book, the author stresses three key themes: 1) A Business Exit should not be a spontaneous process, but the result of careful planning; 2) Business owners tend to underestimate what it takes to exit; and 3) There is often a mismatch in negotiating strength between business owners and professional investors. You may not be able to formulate a definitive opinion on any of those three subjects until you have actually closed at least one transaction. But by reading this book, you will be better prepared--and more successful--when you do start your exit process.