How to Build a Business and Sell It for Millions

by Garson, Jack

• ISBN13: 9780312573546
• ISBN10: 0312573545
• Format: Paperback
• Copyright: 2011-08-02
• Publisher: St. Martin's Griffin

Summary

MBA MEETS MAIN STREET Finally, the positive economic news every businessperson is waiting to hear. Jack Garson says the long economic downturn will give way to a major buying spree by cash-rich companiesand they could be in the market to purchase your small or medium-sized business. It's the ultimate payday for everyone who wants to live the American dream, whether they're starting a business or already own one. Millions of dollars are on the table. But will you and your business be ready? How to Build a Business and Sell it for Millions is a must-read for every business owner and would-be entrepreneur. In entertaining and elaborate detail, Garson outlines the vital moves your company needs to make to become an attractive acquisition by other firms: Do you have a competitive edge that sets you apart from your competition? Are both you and your company sustainable and able to outlast the bad times to become a success? Can you stop being a "Derek," the boss who suffers from "Founder's Dilemma," micromanaging everything big and small? How to Build a Business and Sell it for Millions uses real life examples to explain how the goal of selling your company needs to be linked to every business decision you make: hiring, compensation, contracts, financial reporting and dozens of other areas often overlooked by busy entrepreneurs. While many business owners struggle to get to the next day, Garson has the inside scoop on achieving the opportunity of a lifetime selling your company for vast riches. In How to Build a Business and Sell It for Millions, MBA meets Main Street, with a combination of inspiration and invaluable practical advice.

Author Biography

Jack Garson writes from the trenches of the business world. As founder of Garson Claxton LLC and leader of his law firm’s business group, Jack has guided companies from start-up all the way to the celebration dinner following the big sale. His extensive understanding of the business world is why he’s sought after to be the lead negotiator in multi-million dollar sales of companies. Jack also serves as legal and strategic advisor for numerous national, regional and local companies, helping them overcome challenges, grow, succeed and sell.

 

In addition, Jack is a director of the prestigious Metropolitan Washington, D.C. Airports Authority, which oversees Dulles International and Washington Reagan National Airports. He writes a monthly column for SmartCEO magazine, a leading business publication in the Washington, D.C. region. Jack graduated with honors from both the George Washington University National Law Center and the University of Maryland.

Table of Contents

Introduction	p. xi
Planning to Sell	p. 1
Putting the Horse in Front of the Cart
Profitable Business Model	p. 6
Making Money Every Time
Your Competitive Edge	p. 14
What Makes You So Special?
Scalability	p. 17
Because Size Does Matter
Bench Strength	p. 24
Your Executive Team
Sustainability	p. 32
Surviving Until You Succeed
Personal Sustainability	p. 41
Playing Until You Win
The Vision Thing	p. 45
Having One and Sharing It
Values and Culture	p. 51
Profit Rules
Overcoming Self-Destructiveness	p. 61
Your Worst Enemy
Inc., LLC, or Partnership	p. 68
The Right Structure for Your Business
Financial Reports and Forecasts	p. 80
Where You've Been, How You're Doing, and Where You're Going
Payday	p. 89
Yours and Your Employees'
Risk Management and Compliance	p. 100
Avoiding Bad Stuff
Implementation	p. 109
Better to Implement a Good Plan Than Seek a Perfect One
Contracts	p. 113
Because a Handshake Won't Do
Marketing	p. 121
It's Not Who You Are. It's Who They Think You Are
Government Relations	p. 126
Making Friends in High Places
Don't be a Competition Factory	p. 130
Carrots and Sticks
Letting Go	p. 137
Can you?
For Sale	p. 141
An Overview
Key Terminology: 101	p. 145
Talking the Talk
Investment Bankers	p. 153
Dealing with the Deal Makers
Surveying the Market	p. 160
Identifying Prospective Buyers
The Price	p. 165
Valuation Methods versus Your Guess Is as Good as Mine
The Book on Your Business	p. 173
What Your Company Needs to Be a Bestseller
Dogs, Ponies, and the Deal Team	p. 179
Taking Your Show on the Road
The Best Way to Sell Your Company	p. 185
The Art of Creating an Auction
Strengthening Your Bargaining Power	p. 190
Boosting Your Leverage
The Letter of Intent	p. 192
Picking a Winning Battleground
The Deal	p. 197
What's in it for you?
Tax Consequences	p. 203
The Deal within the Deal
Post-Sale Terms	p. 207
The Deal after the Deal
The Documents	p. 213
Praying over Commas
Due Diligence	p. 219
The Business Version of a Cavity Search
The Deal's Done Being Renegotiated	p. 224
Beware the Retrade
Dead Deals	p. 230
Picking Up the Pieces
Last-Minute Surprises	p. 233
What the Hell!?
The Closing	p. 237
Great Expectations
Now What?	p. 241
Who Am I? And What Am I Doing Here?
Index	p. 245
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