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Informationen zum 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. Klappentext 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. Zusammenfassung 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. Inhaltsverzeichnis Preface xi Acknowledgments xv Disclaimer xvii Foreword xix Introduction: The Challenge of Exiting Your Business 1 Three Overarching Themes 6 A Few Words of Advice 9 Part I Business Exit Planning 11 Chapter 1 An introduction to Business Exit Planning 13 Ways to Exit Your Business 14 What is Business Exit Planning? 15 Evidence on Why Business Exit Planning is Necessary 16 Understand Your Motives 17 The Special Case of Retirement 20 Chapter 2 Begin with the Endgame in Sight 23 Develop a Game Plan 24 Value Systems and Visualizing the Endgame 25 Chapter 3 Exit Options 29 Intergenerational Transfer 29 Initial Public Offering 32 Merger 35 Hiring Professional Management 36 Management Buyout 37 Refinancing 38 Employee Stock Ownership Plan 39 Liquidation 39 Choosing the Right Exit Option 39 Chapter 4 Building Your Team to Assist Your Exit 43 Reasons for Building a Team 43 Composition and Role of Your Team 45 Selecting Advisors: An Overview 53 Your Advisors' Ethical Standards 55 Chapter 5 Building a Business with Sustainable Value 57 Look at Your Business from an Investor's Perspective 58 Clarifying and Adjusting Corporate Strategy 59 Corporate ...
