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Business Exit Planning
Options, Value Enhancement, and Transaction Management for Business Owners
Buch von Les Nemethy
Sprache: Englisch

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Beschreibung
The most viable exit strategies for owners of mid-sized companies

For many business owners, cashing out of a business is a lifelong dream. For some, exiting a business can be a nightmare. Business Exit Planning: Options, Value Enhancement, and Transaction Management for Business Owners provides a comprehensive view of what every business owner needs to know to plan and execute a business exit. The book
* Includes 30 relevant mini-case studies on business exit planning and transaction management, as well as a glossary of frequently used technical terms
* Details options for those owners who no longer want to be active in the business, as well as for those who want to remain invested
* Covers a wide range of topics related to business exit planning and transaction management, including IPO, MBO, refinancing, ESOPs, building an exit team, business plan and valuation, due diligence, and estate planning

Regardless of whether a business owner seeks an immediate exit or a staged exit over time, Business Exit Planning provides a comprehensive strategy and road map to define exit-related objectives.
The most viable exit strategies for owners of mid-sized companies

For many business owners, cashing out of a business is a lifelong dream. For some, exiting a business can be a nightmare. Business Exit Planning: Options, Value Enhancement, and Transaction Management for Business Owners provides a comprehensive view of what every business owner needs to know to plan and execute a business exit. The book
* Includes 30 relevant mini-case studies on business exit planning and transaction management, as well as a glossary of frequently used technical terms
* Details options for those owners who no longer want to be active in the business, as well as for those who want to remain invested
* Covers a wide range of topics related to business exit planning and transaction management, including IPO, MBO, refinancing, ESOPs, building an exit team, business plan and valuation, due diligence, and estate planning

Regardless of whether a business owner seeks an immediate exit or a staged exit over time, Business Exit Planning provides a comprehensive strategy and road map to define exit-related objectives.
Über den Autor
Les Nemethy is the founder and CEO of Euro-Phoenix Financial Advisors Ltd, a leading corporate finance house in Central Europe and emerging markets specializing in helping owners of mid-sized enterprises sell their companies. Over the past twenty-five years, he has been involved in the sale of hundreds of businesses in more than forty countries. He speaks and writes frequently on the topic and his syndicated column appears in more than ten publications around the world.
Inhaltsverzeichnis
Preface.

Acknowledgments.

Disclaimer.

Foreword.

Introduction: The Challenge of Exiting Your Business.

Three Overarching Themes.

A Few Words of Advice.

Part I. Business Exit Planning.

Chapter 1: An introduction to Business Exit Planning.

Ways to Exit Your Business.

What is Business Exit Planning?

Evidence on why Business Exit Planning is necessary?

Understand Your Motives.

The Special Case of Retirement.

Chapter 2: Begin with the Endgame in Sight.

Develop a Game Plan.

Value Systems and Visualizing the Endgame.

Chapter 3: Exit Options.

Intergenerational Transfer.

Initial Public Offering.

Merger.

Hiring Professional Management.

Management Buyout.

Refinancing.

Employee Share Ownership Plan.

Liquidation.

Choosing the Right Exit Option.

Chapter 4: Building Your Team to Assist Your Exit.

Reasons for Building a Team.

Composition and Role of Your Team.

Selecting Advisors: an Overview.

Your Advisors' Ethical Standards.

Chapter 5: Building a Business with Sustainable Value.

Look at Your Business from an Investor's Perspective.

Clarifying and Adjusting Corporate Strategy.

Corporate Governance, Systems and the One-Man Show.

Pre-Transaction Restructuring.

Identify and Manage Risks.

Operational Improvements to the Business.

Non-Arm's-Length Situations.

Chapter 6: Business Plan and Valuation.

Reasons for Making a Business Plan.

Should You Perform a Valuation of Your Business?

Recasting Financial Statements.

Building a Business Plan.

Introductory Comments on Valuation.

Types of Valuation.

Adjustments to Valuations.

Chapter 7: Tax Planning, Estate Planning and Insurance.

Tax Planning.

Estate planning.

Use of Insurance in Your Exit Strategy.

Chapter 8: Finalizing Your Exit Strategy.

What Type of Investors Should Be Targeted?

Should There Be a Listing or Asking Price?

Should There Be a Competitive Process?

Why Use a Competitive Process in Selling a Business?

What Are the Possible Drawbacks of a Competitive Process?

Timing Your Exit.

Communicating with Other Shareholders.

Your Contingency Plan.

Business Exit Planning Report.

Part II. Managing the Transaction.

Chapter 9: The Transaction Process.

Overview of a Competitive Process.

Confidentiality Through a Transaction Process.

Involving Company Staff in the Transaction Process and Communications with Investors.

Marketing Your Opportunity: From Long List to Short List.

The Information Memorandum (IM).

Nonbinding Offers.

Due Diligence.

Binding Offers.

Exclusivity.

Transaction Structuring.

Head of Agreement.

Sale and Purchase Agreement (SPA).

Closing the Transaction.

Noncompetitive Processes

Chapter 10: Negotiating a Transaction.

Get to Know Your Negotiating Partner.

Let Your Negotiating Partner Make the First Offer.

Concede in Small Increments.

After Asking a Crucial Question, Hold Your Tongue!

Every Term of the Deal also Depends on Every Other Term.

Be Prepared to Walk Away from the Deal.

Know Your Best Alternative.

Chapter 11: Cross-border Transactions.

Why Don't More People Marketing Their Companies Internationally?

The Challenges of Cross Cultural Negotiations.

Conclusion: The Only Question with Wealth Is, What Do You Do with It?

Revisiting the Three Overarching Themes.

You Have Raised Your Cash. What Next?

The Macroeconomic Effects of Succession Failure.

Notes.

Glossary.

References.

About the Author.

Index.
Details
Erscheinungsjahr: 2011
Fachbereich: Betriebswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 208
Inhalt: 208 S.
ISBN-13: 9780470905319
ISBN-10: 047090531X
Sprache: Englisch
Einband: Gebunden
Autor: Nemethy, Les
Hersteller: Wiley
John Wiley & Sons
Maße: 235 x 157 x 16 mm
Von/Mit: Les Nemethy
Erscheinungsdatum: 22.03.2011
Gewicht: 0,461 kg
preigu-id: 107466855
Über den Autor
Les Nemethy is the founder and CEO of Euro-Phoenix Financial Advisors Ltd, a leading corporate finance house in Central Europe and emerging markets specializing in helping owners of mid-sized enterprises sell their companies. Over the past twenty-five years, he has been involved in the sale of hundreds of businesses in more than forty countries. He speaks and writes frequently on the topic and his syndicated column appears in more than ten publications around the world.
Inhaltsverzeichnis
Preface.

Acknowledgments.

Disclaimer.

Foreword.

Introduction: The Challenge of Exiting Your Business.

Three Overarching Themes.

A Few Words of Advice.

Part I. Business Exit Planning.

Chapter 1: An introduction to Business Exit Planning.

Ways to Exit Your Business.

What is Business Exit Planning?

Evidence on why Business Exit Planning is necessary?

Understand Your Motives.

The Special Case of Retirement.

Chapter 2: Begin with the Endgame in Sight.

Develop a Game Plan.

Value Systems and Visualizing the Endgame.

Chapter 3: Exit Options.

Intergenerational Transfer.

Initial Public Offering.

Merger.

Hiring Professional Management.

Management Buyout.

Refinancing.

Employee Share Ownership Plan.

Liquidation.

Choosing the Right Exit Option.

Chapter 4: Building Your Team to Assist Your Exit.

Reasons for Building a Team.

Composition and Role of Your Team.

Selecting Advisors: an Overview.

Your Advisors' Ethical Standards.

Chapter 5: Building a Business with Sustainable Value.

Look at Your Business from an Investor's Perspective.

Clarifying and Adjusting Corporate Strategy.

Corporate Governance, Systems and the One-Man Show.

Pre-Transaction Restructuring.

Identify and Manage Risks.

Operational Improvements to the Business.

Non-Arm's-Length Situations.

Chapter 6: Business Plan and Valuation.

Reasons for Making a Business Plan.

Should You Perform a Valuation of Your Business?

Recasting Financial Statements.

Building a Business Plan.

Introductory Comments on Valuation.

Types of Valuation.

Adjustments to Valuations.

Chapter 7: Tax Planning, Estate Planning and Insurance.

Tax Planning.

Estate planning.

Use of Insurance in Your Exit Strategy.

Chapter 8: Finalizing Your Exit Strategy.

What Type of Investors Should Be Targeted?

Should There Be a Listing or Asking Price?

Should There Be a Competitive Process?

Why Use a Competitive Process in Selling a Business?

What Are the Possible Drawbacks of a Competitive Process?

Timing Your Exit.

Communicating with Other Shareholders.

Your Contingency Plan.

Business Exit Planning Report.

Part II. Managing the Transaction.

Chapter 9: The Transaction Process.

Overview of a Competitive Process.

Confidentiality Through a Transaction Process.

Involving Company Staff in the Transaction Process and Communications with Investors.

Marketing Your Opportunity: From Long List to Short List.

The Information Memorandum (IM).

Nonbinding Offers.

Due Diligence.

Binding Offers.

Exclusivity.

Transaction Structuring.

Head of Agreement.

Sale and Purchase Agreement (SPA).

Closing the Transaction.

Noncompetitive Processes

Chapter 10: Negotiating a Transaction.

Get to Know Your Negotiating Partner.

Let Your Negotiating Partner Make the First Offer.

Concede in Small Increments.

After Asking a Crucial Question, Hold Your Tongue!

Every Term of the Deal also Depends on Every Other Term.

Be Prepared to Walk Away from the Deal.

Know Your Best Alternative.

Chapter 11: Cross-border Transactions.

Why Don't More People Marketing Their Companies Internationally?

The Challenges of Cross Cultural Negotiations.

Conclusion: The Only Question with Wealth Is, What Do You Do with It?

Revisiting the Three Overarching Themes.

You Have Raised Your Cash. What Next?

The Macroeconomic Effects of Succession Failure.

Notes.

Glossary.

References.

About the Author.

Index.
Details
Erscheinungsjahr: 2011
Fachbereich: Betriebswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 208
Inhalt: 208 S.
ISBN-13: 9780470905319
ISBN-10: 047090531X
Sprache: Englisch
Einband: Gebunden
Autor: Nemethy, Les
Hersteller: Wiley
John Wiley & Sons
Maße: 235 x 157 x 16 mm
Von/Mit: Les Nemethy
Erscheinungsdatum: 22.03.2011
Gewicht: 0,461 kg
preigu-id: 107466855
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