Business Exit Planning

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.

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.

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.

BUSINESS EXIT PLANNING Options, Value Enhancement, and Transaction Management for Business Owners Comprehensive strategies for planning and managing the sale of a business Anyone can buy or create a company but how do you exit successfully? This book provides a comprehensive view of what you, as a business owner, need to know to plan and execute your business exit. Filled with illustrative case studies, Business Exit Planning covers all the essential business exit planning topics, including IPO, MBO, refinancing, ESOPs, exit team building, business plan valuation, due diligence, estate planning, and much more. Aimed primarily at owners of mid-sized businesses (minimum values in the range of $10 million to $100 million), the book offers a wide range of options including options for those who want to exit in the financial sense, but remain active in the business; options for those who no longer want to be active, but may want to remain invested in the business; and options for those who want to sever ties completely. The path to exiting a business can seem like an intimidating, tangled maze. With this book as your guide, you can join the millions of business owners who have exited smoothly and successfully.

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