Synopsis
Filled with real cases covering both good an d bad transactions, Buying Your Own Business shows every asp ect, from planning your acquisition strategy, placing a fair value on the target business, negotiating fair terms, and c losing the deal. '
From the Author
From beginning to end, this is a "how to" book!The inspiration for writing this book occurred when I sat on a panel at the Harvard Business School post-graduate lecture series. The subject was "Buying Your Own Business". The audience was largely made up of people seeking a career change. The number of attendees for these monthly lecture series was normally 50 people. However, that evening over 200 attended. A light bulb went off in my head...the message was clearly evident that not only was there keen interest for this topic, but an unusual number of people were willing to travel on a cold winter night to learn about...buying your own business. The concept for the book was to direct the message to individual buyers who were desirous of acquiring businesses between $2M-$50M and explain, in 300 pages, how to successfully "do a deal". The challenge was to write in a non-theoretical, practical and anecdotal style that would be informative, sequential and "an easy read". While I was an expert on buying your own business because I was a mergers and acquisitions intermediary, I did not want to presume that I knew it all. Therefore I read everything that I could obtain relevant to this topic including the twenty three books listed in the reference section. There are chapters which give you the boilerplate tools with which to work such as an actual Letter of Intent and a Purchase and Sale Agreement. Then there are chapters such as "Why Deals Fail, Case Studies, and Pearls of Wisdom.". I have been told it is a fun book to read and some people have read it twice. Personally, if I had to described this book in one word, it would be "pithy".