What is this book about?
Here the authors show the owner how to achieve maximum income during his/her stewardship of the business, while planning for a sizeable business asset through a sale. Using case studies and detailed guidance, the book provides practical advice on how to create and improve capital value through various means, such as leadership, people, culture and branding.
Who is this book for?
- Current and potential owners of small to medium-sized businesses
- Wealth creation – Which route is best?
- Entrepreneur – Who dares wins
- Why sell?
- What is it worth? – The professional’s viewpoint
- A buyer’s guide
- Business planning – Mapping the way
- Adding value – Acorns into oaks
- Branding – The difference the makes the difference
- Leader/managers – showing the way
- How to sell – Cashing in
- Negotiate to win – Your money or your life!
- In a nutshell
- Glossary of mergers and aquisitions terms
CHAPTER ONE – Wealth creation
CHAPTER TWO: Business owner – Who dares wins…
- Financial wealth accumulation plan
- How is wealth created?
- Why do people buy or sell a business?
- Why you should work on selling your business
CHAPTER THREE: Why sell? – Looking at the big picture
- The owner/manager profile
- Risk management
- Passion for profit
- Improving skills
- Making it work
- Releasing the owner/manager investor within
CHAPTER FOUR: What is it worth? – The professional’s viewpoint
- Why sell? – your future
- Life cycles – what next?
- The five types of wealth
- The eternal entrepreneur
- The sale proceeds
- Retreat and think
CHAPTER FIVE: A buyer’s guide – The good, the bad and the ugly
- The formula
- The multiple
- What multiple?
- What profit?
- Sale structure
- Asset and goodwill deals versus share transfers
- Revaluing the balance sheet (share transfers)
- The optimum purchaser, the optimum valuation
- Should I be selling?
- Art not science
- The valuation steps (a summary)
CHAPTER SIX: Business planning – Mapping the way
- Getting started
- Timing the purchase
- Researching and setting your strategy
- Sources of businesses
- Handling the seller
- Look for potential
- Staff meeting
- Due diligence checklist
- Potential purchase timetable
CHAPTER SEVEN: Adding value – Acorns into oaks
- Why you must write a plan
- What should be in your plan?
- Raising finance
- Types of finance and terms
- Planning tips
- From start to finish
- Business plan template
CHAPTER EIGHT: Branding – The difference that makes the difference
- Working on and in the business
- Adding value by the hour
- Stand out
- Create barriers to entry
- Pre-sale grooming
- Tips and techniques for adding value
CHAPTER NINE… Leader/managers-Showing the way
- Examples of branding success
- Managing the brand
- Vive la difference!
- Invent a niche and market
CHAPTER TEN : How to sell – Cashing in
- Invest in and retain people
- Motivating people
- Build a community (culture)
- Leader/managers in the real world
- Warning signs of when leadership is lacking
- Leadership on purchase
- Leadership succession
CHAPTER ELEVEN: Negotiate to win – Your money or your life!
- Cashing your chips in
- How to sell
- Using an intermediary and advisor to sell your business
- Choosing an intermediary (broker/advisor)
- Rules for finding and managing buyers
- Structure of the deal
- Tax and deal structures?
- The sale process – a summary
- Where next?
CHAPTER TWELVE: In a nutshell
- Negotiation game play
- Setting your strategy
- Objectives; yours and theirs
- Influencing versus persuasion
- Building rapport
- Strategic moves
- Strategic moves explored
- Sample heads of terms
- Sample basic confidentiality wording
- Sample pre-due diligence questionnaire
- Glossary of mergers and acquisitions terms*
- What next?
Kevin Uphill is the Managing Partner of Avondale Group, a consultancy which focuses on selling small to medium-sized businesses.
Alex McMillan has over 20 years of entrepreneurial experience and has written several business books on the subject.