What I Wish I Knew When I Sold My Business: Best lessons from personal experience with the insight of artificial intelligence (AI).

By Dave Shaw

One of the first books written in this genre that merges personal experience with the insight of artificial intelligence (AI). Dave Shaw is one of the top business strategists and Mergers and Acquisition specialists in the world today. Self-made and working his way up through the ranks of small business, he now shares some of his personal stories and best lessons of how to sell your business.
Approx 80 pages

• Language: English
• Publisher: Lulu.com
• Release date: Sep 12, 2023
• ISBN: 9781312147010

Book preview

WHAT I WISH I KNEW WHEN

I SOLD MY BUSINESS

Best lessons from personal experience with the insight of artificial intelligence (AI)

Logo, company name Description automatically generated

Dave Shaw

Business Strategist, Coach and M&A Specialist

ALL RIGHTS RESERVED.

ISBN: 978-1-312-14701-0

No part of this book may be reproduced or transmitted in any form whatsoever, electronic, or mechanical, including photocopying, recording, or by any informational storage or retrieval system without the expressed written, dated, and signed permission from the author.

LIMITS OF LIABILITY / DISCLAIMER OF WARRANTY:

The author and publisher of this book have used their best efforts in preparing this material. While every attempt has been made to verify information provided in this book, neither the author nor the publisher assumes any responsibility for any errors, omissions, or inaccuracies.

The author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents of this program. They disclaim any warranties (expressed or implied), merchantability, or fitness for any purpose. The author and publisher shall in no event be held liable for any loss or other damages, including but not limited to special, incidental, consequential, or other damages. As always, the advice of a competent legal, tax, accounting or other professional should be sought.

Logo Description automatically generated

www.swbiz.net

Dedication

I’ve spent over 40 years as an entrepreneur, business coach and M&A Specialist.  I have bought and sold many businesses – some for myself, some for my clients. I know the total sacrifice that an entrepreneur and their families make for the success of their business.  It can be all-consuming.  It is my hope to help make that sacrifice as profitable as possible.

This book is dedicated to all small business owners

and their families.

Table of Contents

Preface

Chapter 1: Know the Real Market Value of Your Business

Chapter 2: Know your Books! The Importance of Having Financial Records When Selling Your Business

Chapter 3: Hire Professionals to Help You Sell Your Business

Chapter 4: Getting Your Due Diligence Documents Prepared for Selling Your Business

Chapter 5: Consider Your Own Needs in the Deal Structure

Chapter 6: Be Sure to Incentivize Your Employees to Stay with the New Owner

Chapter 7: Beware of Earnouts When Selling Your Business

Chapter 8: Understanding the Importance of a Good Data Room

Chapter 9: Stop Co-Mingling Your Personal Funds with the Company Funds

Chapter 10: Understanding How Long It Takes to Sell Your Business

Chapter 11: Understanding the Emotional Strain of Selling your Business

Chapter 12: Final Conclusions

Appendix

Logo, company name Description automatically generated

Preface

T

he purpose of this book is to help you capitalize on the hard work of building and growing your business. You might be the original founder of the business; you might have taken over the business for a variety of reasons or you may be a hired executive entrusted to get the best return for all the owners.

If you are any of the above, this book is for you.

When I sold my first business, I felt like I was the king of the business world. I had founded that business almost 10 years earlier and had spent the previous decade of my life building that business. I got a good price for the business and was very happy. However, knowing what I know now, I could have sold that business for much more, made the transaction much smoother and much quicker. I guess it's just one of those learning things that comes with experience.

Since then, I have sold several more of my own businesses and helped many other business owners sell their businesses as well. The knowledge and experience learned as a result of all those transactions is what I am hoping to share with you in this book.

Valuing, properly positioning, and then ultimately selling your business is an art. There is no one, specific way in which any business can or should be sold. The variety of nuances to promoting the business, emphasizing its strengths, mitigating its weaknesses and ultimately, finding the best buyer match are almost endless. There are, however, a