Family Business Recommends

Our publishers and editors have hand selected the following books for you to consider adding to your library. Happy reading.

Frederick D Lipman

 

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.

 

 

 

Contents:

  • 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.
 

Key Features:

  • 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

 

Frederick D. Lipman

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.

Gary Pittsford

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.

George A. Isaac

 

YOU'VE SPENT THE MAJORITY OF YOUR CAREER BUILDING YOUR FAMILY BUSINESS. YOU'VE LEARNED WHAT WORKS, ENDURED LEAN YEARS, ENJOYED BOOM, AND WATCHED YOUR COMPANY GROW, BUT NOW IT'S TIME TO THINK ABOUT WHAT'S NEXT.

Consultant George Isaac has been helping families start, build, and maintain their enterprises for more than forty years. Whether you're getting ready to retire, about to assume a new leadership role, or are looking for ways to run your business smarter, Your Business, Your Family, Your Legacy is the comprehensive guide you need to build a family business that lasts. Using real-world, experiential examples, Isaac introduces:

  • Seven essential initiatives for business survival and growth
  • Techniques to navigate family dynamics and prevent conflict
  • Strategies for establishing effective governance
  • A road map to forming and executing a workable succession plan
  • Practical approaches to multigenerational wealth management

Avoid the pitfalls and traps that keep most family businesses from surviving past the current generation. Build a multigenerational business legacy that lasts with this indispensable guide.

Grant Gordon and Nigel Nicholson

Many of the world's greatest businesses are family owned, and with this comes the threat of family feuding, sibling rivalries, and petty jealousies. Family Wars takes readers behind the scenes on a rollercoaster ride through the ups and downs of some of the biggest family-run companies in the world, showing how family in-fighting has threatened to bring about their downfall. Covering families such as Ford, Gucci, McCain, Guinness, Gallo, and Redstone, Family Wars is an astonishing expose of the way families do business and how family in-fighting can threaten to blow a business apart. Whether it's Brent Redstone's court case with his father and sister or the family feud over Henry Ford's $350 million trust fund, the book reveals the origins, the extent, and finally the resolution of some of the most famous family feuds in recent history. Family Wars also provides valuable advice for anyone involved in a family business, offering suggestions on how to avoid such problems.