Our publishers and editors have hand selected the following books for you to consider adding to your library. Happy reading.
Prosperous families around the world face unexpected challenges as they encounter the modern global environment. It is natural for the wealth-creating generation to cherish the cultural roots that led to their success, advocating for the family’s heritage. But, as subsequent generations are educated and trained in faraway lands and diverse cultures, new influences enter the family. The resulting conflicts can bring significant stress to the family and risk to the family enterprise, especially at times of generational transition.
Based upon the groundbreaking work of Doug Baumoel and Blair Trippe, Deconstructing Conflict will help scores of enterprising families navigate the challenges of owning and managing together as family. Utilizing “The Conflict Equation” methodology, the book deconstructs conflict into its component parts to arm family business stakeholders and their advisors with the most cutting-edge thinking for achieving generational success in family enterprise.
This book analyzes various business exit strategies for both family-owned businesses as well as other businesses, both in the United States and throughout the world. Approximately 80% to 90% of all businesses in the world are family-owned. The book discusses, among other things, 12 common mistakes in attempting to sell a business to third parties, methods of marketing the business, negotiation of key sale terms, negotiating employment and consulting agreements, avoiding traps in sale agreements, creating a professional advisory team, and alternatives to a sale to an unrelated third party, such as ESOPs, leverage recapitalizations, selling to other family members or key employees, and going public transactions.
- Six Common Mistakes in Selling a Business to an Unrelated Third Party
- Six More Common Mistakes in Selling a Business
- Marketing the Business
- Letters of Intent and Due Diligence
- Negotiating Key Sale Terms
- Negotiating Employment and Consulting Agreements
- Avoiding Traps in the Agreement of Sale
- Creating a Professional Advisory Team
- Leveraged Recapitalization
- Selling to Other Family Members and/or Key Employees
- The ESOP Alternative
- Going Public in a Traditional IPO
- The Regulation A Alternative
- Appendix I: IRS Form 8594
Readership: Professors and students of business schools; entrepreneurs, business consultants, attorneys, accountants, advisors to start-up and middle-market companies, angel investors, private equity funds.
- Describes 12 common mistakes in selling a business which can either prevent the sale of the business or reduce the purchase price
- Provides 5 alternatives which should be explored prior to selling the business to an unrelated third party
- Discusses the negotiation of key sale terms and employment and consulting agreements which are both important in maximizing the after tax sale proceeds to the business owners
A practical guide to best and worst practices for family businesses - from drawing up incorporation documents to succession planning to selling the business. The book also includes examples from actual court cases and presents these lessons in an accessible manner. Sample legal agreements are included which help to avoid some of the major risks to the family business.
Successfully Transition Your Business to the Next Owner You have spent a lifetime building and safeguarding your business. Now it’s time to retire. If you are like most business owners, you have more questions than answers. “What is my business really worth?” “Can I afford to retire?” “How can I safeguard my net worth and protect my family?” “How can I reduce taxes on the sale?” “Should I keep the business in the family, or sell it to someone else?” And the biggest question of all: “How do I get started?” Gary Pittsford has answered these tough questions for business owners in all 50 states and now wants to share his 40 years of financial experience with you. Your Family Business, Your Family Net Worth is your definitive guide to take the appropriate steps to confidently secure the best future for you, your family and your business.