The Cure for Seller’s Remorse

On a quick count of my highlights from this book there are about 316 mistakes identified in this book a business owner could make while selling their business. The Art of Selling Your Business will help you avoid these costly mistakes.

While Warrilow’s excellent book, Built to Sell, describes how to create a business that a buyer would want to buy, The Art of Selling Your Business describes the business selling process from beginning to end.

Here’s a quick list of what you’ll discover within this book:
1. The most important step of all, creating a vision for what your life will be like after you exit your business. Avoid remorse creating a plan for your life after you sell your business. Great advice as I personally know several former business owners who got their exit number but fell into depression because they had nothing to do but hit the refresh button for the balance in their brokerage account.
2. Uncovering the myth that all business owners get the best valuations during the highest points of business cycles.
3. The one-page document you should create to pitch your business to prospective buyers. And, why you should create this document now even if you have no plans of selling your business for several years.
4. When you should “undress” by revealing confidential data and why revealing this data to early could result in giving away data to new competitors.
5. When and what to tell employees about selling your business.
6. Who your potential buyer is so you don’t waste your time with the wrong people.
7. Generating multiple offers to give yourself leverage.
8. What a LOI is and isn’t so you prevent huge disappointments.
9. The different types of potential buyers and what each is looking for when they examine your business as a potential acquisition.
10. How and why to create a bidding war for your business.
11. Excellent advice in how to think about earnouts so you get your number
12. A huge pitfall with seller financing and all those vendor accounts you opened years ago when you had nothing and signed a personal guarantee.
13. How and why to “Nudge” for a little more money in your deal.
14. Avoid getting warn down buyers playing games with you during due diligence.
15. The types of seller representatives and how to avoid the bad ones.
16. …and about 300 more. Just buy the book already. It’s worth the five stars and maybe worth thousands or millions of dollars to you.