Exiting your business, protecting your wealth: a strategic guide for owners and their advisors

INDICE: Preface. Introduction. Part One. Preparing For Your Exit. Chapter 1. Exiting Your Business Is A Process, Not An Event: Don't Limit Your Exit Strategy Planning With What You Don't Know. Business Owner Marketplace. Your Business May Or May Not Be Ready For Sale Or Transfer. Your Financial Readiness ForAn Exit. Your Mental Readiness For An Exit. Exit Options Available. Chapter 2. Setting Your Exit Goals. Write It Down. Adjustments to Your Business. Is There a Financial Gap that You Need to Worry About? Do you Live Out of Your Business? Living Out of the Business. Being Liquid: Income Replacement After the Exit. Measuring the Gap. Growing Your Business With Your Exit in Mind. Special Note on Family Transfers. Employee Transfers. In Closing. Review. Chapter 3. Are You Ready to Leave: The Mental Game of Business Exits. You Are Your Business. The Conditioned Mind. It's You Against You. Are You Addicted to Your Business? Clear Thinking. Plotting the Point. Case Study: Bill Brown's Failed ExitLessons Applied and Learned. Analysis and Insights. Written Exit Strategy Plan. Review. Chapter 4. Which Type of Exiting Owner Are You? Identify Your Readiness, Learn Your Exit Options. Understanding Valuation. We Now Look at Our Four Types of Exiting Owners. Which Quadrant Are You In? Exiting Owner 1: Rich and Ready to Go. Exiting Owner 2: Well-Off But Chooses to Work Exiting Owner. Exiting Owner 3: Stay and Grow Exiting Owner. Exiting Owner 4: Get Me Out (Right Away!). Our Owner Bill. Overall Review. Exit Options Available. Business Valuation and the Range of Values Concept. Internal Transfers: Fair Market Value Standard of Valuation. External Transfers: Value of Transferring to Financial Buyers and Competitors. Rreview. Part Two. Knowing Your Options. Chapter 5. Sellingthe Business. Process of Selling a Business. Marketing the Business. The Economy Matters. How Can You Achieve Maximum Value from the Sale of Your Business.Bill Brown. Valuation. Getting the Highest Price. Improving Jim's Offer. Lessons Learned: What Did Bill Do Right This Time? Further Notes on External Transactions to Industry Buyers. Restating Earnings to Reflect the True Profitability of the Company. Taxes and Fees. Review. Chapter 6. Employee Stock OwnershipPlans as Exit Vehicles. Using an ESOP in Your Planning. WHAT IS AN ESOP?: A tool for customized internal exit strategy planning. Application of ESOP to Bills Exit Strategy Planning. Customized Exit Strategy Using an ESOP. Fair MarketValue Standard. Why ESOP Planning Works Despite the Lower Initial Value and Discounts. Review. Chapter 7. Private Equity Group Recapitalizations. Explosionof Private Equity. Capital will Flow to where Historical Return Glow. So, What Is a Recapitalization? Value Measurement. Liberator or Occupier of Your Business? Market Realities and Your Exit Strategy Planning. Which Companies Qualify for a Recap? Review. Chapter 8. Sale versus Recapitalization versus ESOP. Bill's Three Choices. Issues Surrounding Management Buyouts and Gifting Programs. Valuation of Internal Transfers. Chapter 9. Management Buyouts. Management Buyouts Discussed. Common Denominators. Caveat About Management Buyouts. LittleCash At Closing. Deferred Payments. Valuation Metrics. An Investment Decision. Accelerating Your Grooming Process. The Ultimate Impasse. Entrepreneurs' Triangle. The Leap: Empowering Your Management Team. Management Buyouts and Financial Backers. The Business as Collateral. Seller Financing. Exit Over Time: Low Mental Readiness. Tools to Assist with a Management Buyouts. Application of a Management Buyout to Bill's Situation. Review. Chapter 10. Gifting Strategies For Exiting Owners. Execute Your Estate Tax Plan, Not the Governments'. HighFinancial Readiness. Flexibility. No Cash For Your Shares. Tax Benefits. Gifting to Family, Employees and Charities. Fair Market Value Standard. Planning Over Time, Using Discounts. Lifetime Exclusion. Annual Gifting Programs. Types of Gifting Strategies. Application to our Exiting Owner, Bill. Gifting using discounted values. Annual gifting program. Transfer of stock to a charitable remainder trust. Review. Part Three. Planning Your Exit, Protecting Your Wealth.Chapter 11. Deal Structuring And Taxes: It's Not What You Get, But What You Keep That Counts. Will Uncle Sam Kill Your Exit Strategy Plan? Four Step Process to Understanding Deal Structuring and Taxes. Case Study. Beyond the Basics: Additional thoughts surrounding Taxes and Deal Structuring. Size Matters. Deferred Payments as a result of buyer protection. Application to Management Buyouts. A Note on Goodwill. Apply These New Concepts to a Shorter Case Study. Review. Chapter 12. Exit Strategies And Estate Tax Planning: Protecting Your Wealth With Some Estate Planning Strategies. The Government Has an Estate Plan for YouYou Probably Won't Like It. The Basics. Applicable Exclusion Amount. State Applicable Exclusion Amounts. Too Many Incomplete Plans. Business Valuation. What Does All This Have to Do With Exit Strategy Planning? Three Steps to Addressing Estate Tax Issues. Other Solutions that Incorporate Exit Strategy Planning: Lifetime Transfer by Gift. Review. Chapter 13. Legal Agreements That You Need To Know: You Will Sign Agreements Know Them Before You Sign Them. What is an exclusivity or no-shop clause, and should you accept it? Note on Pre-Sale Due Diligence: Getting the House in Order. Purchase and Sale Agreement. Representations and Warranties. Non-Compete Agreement. Earn-Out Agreements. Seller Financing Agreements. Practical Tip in Choosing Legal Counsel. Review. Chapter 14. Forming An Exit Strategy Advisory Team: Making Sure Your Agenda Comes AheadOf Your Advisors. Don't Go It Alone: Find Experienced Exit Advisors. Who Is Needed on the Advisory Team? What to Look For in Your Advisory Team. Who's Agenda Rules? Team Meetings. Assign a Quarterback. Financial Advisor. Legal Advisor. Accountant/Tax Advisor. Insurance Advisor. Mergers and Acquisitions Advisor. Review. Chapter 15. Pulling It All Together. Follow the Steps. Step 1: Planning the Exit--Bill Writes Down His Exit Goals. Step 2: Financial and Mental Readiness. Step 3: Exit Quadrant ChartIdentify What Type of Exiting Owner Are You? Step 4: Learn and Choose Your Optimal Exit Option. Step 5: Understand the Values of the Options You Choose. Step 6: Execute Your Exit Strategy Plan. Index.

• ISBN: 978-0-470-37618-8
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 256
• Fecha Publicación: 15/10/2008
• Nº Volúmenes: 1
• Idioma: Inglés