Too many businesses sell for far less than they should! After pouring time, energy, and money into their company, owners deserve to squeeze every last dollar they
can from that hard-earned investment. Sell Your Business for an Outrageous Price is the playbook they need to win big at the closing table. Readers will discover how to:
Prepare their companies and themselves for sale
Recognize the best time to go to market
Minimize their risk
Identify, attract, and motivate deep-pocketed
Determine their company's competitive advantage and leverage it for the best offer
Find a transaction advisor with the skills and experience to guide them through the M&A jungle
Ascertain whether the advisor has what it takes
to get top dollar
Foil buyers' attempts to undermine sale price
Featuring real-life case studies and an appendix of indispensable tools - including due diligence lists, sample nondisclosure agreements, a sales readiness assessment, and a sample engagement letter - this insightful guide reveals how anyone can get a positively outrageous price for their company.
Kevin Short is the Managing Partner and CEO of Clayton Capital Partners, a leading middle market M&A advisory firm. Over the past 25 years, he has orchestrated over 150 purchase/sale transactions of mid-sized businesses with an aggregate value of more than $1 billion.
Contents Acknowledgments ix Introduction 1 PART 1: THE PROACTIVE SALE STRATEGY 5 Chapter 1: Reducing Seller Risk and Increasing Sale Proceeds 7 Chapter 2: Step One: Assess the Company and Owner for Sale Readiness 17 Chapter 3: Step Two: Presale Due Diligence 37 Chapter 4: Step Three: Identify the Competitive Advantage 55 Chapter 5: Step Four: Identify Potential Buyers 69 PART 2: THE OUTRAGEOUS PRICE PROCESS 77 Chapter 6: The Four Pillars of Selling Your Business for an Outrageous Price 79 Chapter 7: Pillar I: Leverage Your Company's Competitive Advantage 85 Chapter 8: Pillar II: The Outrageous Buyer 99 Chapter 9: Pillar III: The Outrageous Seller 107 Chapter 10: Pillar IV: The Outrageous Adviser 119 Chapter 11: Executing the Sale 143 Chapter 12: Wrap-Up 169 Appendix A: Sale Readiness Assessment 173 Appendix B: Legal and Financial Due Diligence List 181 Appendix C: Management System Due Diligence List 199 Appendix D: Checking an Investment Banker's References 203 Appendix E: What to Look for in an Engagement Letter 205 Appendix F: Sample Nondisclosure Agreement 211 Appendix G: Questions to Ask a Prospective Investment Banker 215 References 219 Index 221