Things I Wish I Knew Before I Sold to Private Equity : An Entrepreneur's Guide

Things I Wish I Knew Before I Sold to Private Equity: An Entrepreneur’s Guide The Secrets Behind Selling Your Business for the Best Price Possible You spend years working 24/7 to build a business that will prosper and provide a good living for you and your loved ones. But when it comes time to exit your own company and either retire or change things up, do you fully understand what it takes to sell your business for the highest possible price — and possibly even enjoy financial independence for the rest of your life? Jason Hendren does — because that’s exactly what happened to him. When a buyer came knocking on his door, he was completely unprepared for a sale — but luckily found someone willing to provide him with the professional advice he needed to realize the most lucrative outcome. Now, Hendren wants to return the favor by helping others like him understand how to properly plan for an exit and find the right buyer when it’s finally time to start the sales process. In this easy-to-read guide, Hendren identifies the potential opportunities and possible pitfalls involved in selling a business. You’ll learn how to improve your valuation well before a sale, how to align your employees and managers with your exit plans, what advisors you’ll need and when, what you can expect during the diligence process, as well as how leverage and reinvestment can be important components of a deal. You’ll also discover how to calculate your “magic number” (the amount you’ll need at closing to realize your financial goals), how to time your sale to achieve maximum returns and what unexpected factors can impact your final proceeds. Things I Wish I Knew Before I Sold to Private Equity contains the kind of practical down-to-earth advice you need from the perspective of a fellow founder/owner you can relate to. If you’re thinking of selling your business but don’t know where to start, this book contains the answers you’ll need to help you close the deal you’re after. THE GUIDE FOR ENTREPRENEURS BEFORE CONSIDERING A SALE Entrepreneurs dedicate their lives to building a thriving business. As their success mounts, people take notice and the phone begins to ring. The callers start off with a hearty congratulations, but soon transition to wanting to learn about the business and whether the owner is open to a sale. This is how many entrepreneurs first get exposed to the world of mergers and acquisitions. Jason Hendren knows this well because when the "Congratulations" calls started coming, they caught him off guard. Jason is an entrepreneur who built a successful business that subsequently partnered with a private equity group. He stayed on as the CEO for nearly a decade during which he made the transition from seller to buyer, leading the merger and acquisition activity at the company. This is where Jason learned how professionals buy businesses, build value, and prepare them for sale. This experience gave him the expertise to become an exit planning advisor where he helps other entrepreneurs navigate the sales process. In Things I Wish I Knew Before I Sold to Private Equity, Jason shares the lessons he learned to help entrepreneurs prepare for the "Congratulations" call. This book covers preparing yourself for a sale, aligning your employees, evaluating offers, and selecting advisors. It sheds light on the diligence process and what to expect after closing. He also tackles the elephant in the room, valuation. This is the one book every entrepreneur should read before the phone starts ringing.