Whatever happened to the dream?
(The one where someone pays you to retire)
That dream is still alive , but it won’t materialize unless you educate yourself on the facts and commit to planning for it.
The good news is, if you plan effectively, there is no reason why you can’t exit your business with your head held high, your wallet sagging, and your legacy in place.
In Straight Talk, Matt revisits the dream and what it takes to achieve it today.
What is the new exit?
The mindset of selling a business has shifted in the last several years.
Many baby boomers are not looking to retire outright. They are simply taking chips off the table, simplifying their life, and transitioning out on their own terms. They are maximizing their proceeds by picking the right acquirer and sticking around to help them succeed… The “New Exit”
The “New Exit” allows business owners to secure their financial future with the cash proceeds from a sale while retaining significant upside potential. The “New Exit” also provides a predictable path to retirement and security against declining health. It is in many ways superior to the traditional sale process. Straight Talk will help you understand if the “New Exit” might be right for you.
The Straight Talk Instructional Program includes:
Two copies of the book "Straight Talk From the Front Lines" by Matt Coyne. One for you and one for an advisor or business owner friend. Chapters include: The Trouble With Children, How Do You Sell a Business?, What is EBITDA?, What is My Business Worth?, Should I Buy a Valuation?, Financing Options, Hire Help or Do-It-Yourself, and The Top 10 Mistakes Business Owners Make When Selling Their Business, plus several bonus chapters on how to make your business more attractive to the most likely buyers. Paperback, 204 pages.
One DVD of excerpts from Matt's recent interview with John Ondik from the Wharton Small Business Development Center. The interview has been compiled into a 60 minute video entitled: How To Prepare Your Privately Held Business for Sale. In this video, Matt discusses some of the most common questions and misconceptions owners bring with them to their initial meeting with his firm. He will also explore the things people should do (and often don't) before they begin the selling process. Simple and often inexpensive activities, many of which are discussed in this video, can have a profound impact on selling price and seller proceeds. This DVD functions both as a DVD video and as an audio book for listening in the car. 60 minutes.
Print resources, including sample marketing and transaction documents to familiarize readers with "the real thing". This will include a sample offering memorandum and various transaction documents with explanations of key points.