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Business & Management | Know and Grow the Value of Your Business - An Owner's Guide to Retiring Rich

Know and Grow the Value of Your Business

An Owner's Guide to Retiring Rich

McDaniel, Tim

2013, XVI, 252 p.

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    • Neglected part of the market.
    • Business owners will view their ownership interest from a different perspective and enjoy the process of building wealth.
    • In an easy-to-read format with many real-life stories, business owners will understand how their company is valued by potential buyers and what their options are to exit the business.
    • Leaves the reader with motivation and steps to move their exit plan forward.
    • Is geared to a large, underserved market.
    • Author's firm has its own marketing department and will help market the book.
    • Author's firm has 200 employees, each of which can help move the book to some extent.
    • Author will tout the book at speaking engagements and reach out to trade associations, where many business owners can be found.

A woman looking to retire said to author and valuation expert Tim McDaniel, “I need to sell my business for $2.5 million to support my country club lifestyle.” The reality was that her business was worth $750,000. How could she have been so wrong? As McDaniel—a veteran of over 2,000 valuation engagements and dozens of M&A deals—knows all too well, most owners work in their businesses and not on their businesses. He has seen the look of surprise on client faces far too often: “It’s only worth that much?!”

In the rush of day-to-day work and decisions, business owners sometimes forget that their business is an investment—and something they need to watch, nurture, and care for just as they would a valuable antique vase or painting. Know and Grow the Value of Your Business: An Owner's Guide to Retiring Rich shows readers how to develop the “investment mindset,” value the business, bolster that value and maximize the return on their investment, and, finally, exit the business either through a sale to outside parties or by passing it on to family or other business insiders.

This information couldn’t be more important: Typically, 60–80% of a business owner’s wealth is tied up in the value of the business. This is their most important asset, but they usually guess at its value and have no concrete plan to increase it. That’s why this book shows:

  • The importance of treating your ownership interest in a business as something deserving near-daily attention.
  • How a company is valued, and how others outside the business view that value.
  • Steps you can take immediately to increase the value of your business.
  • The different kinds of potential buyers and what attracts them.
  • How to remove yourself from the day-to-day work of the business to plan for a brighter future.
  • How to exit the business on your terms.

In short, this book helps business owners get the most for their business when they decide it’s time to move on.

Content Level » Popular/general

Related subjects » Business & Management

Table of contents 

  1. Country Club Lifestyle
  2. The Investment Mindset
  3. Valuation Fundamentals
  4. Valuation Approaches
  5. Growing Your Value
  6. Selling Your Business
  7. The Hardest Step: Succession Planning
  8. Know Your Exit Options
  9. Know your Exit Strategy
  10. Time for Action
  11. Epilogue
  12. IRS Revenue Ruling 59-60
  13. Sample Engagement Letter
  14. Sample Due Diligence Request
  15. Sample Family Business Creed
  16. AICPA Statement on Standards for Valuation Services No. 1

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