Bigger fish eyeing your company?

Back in the early 1990s, my partner and I were owners of a thriving ambulance business in Ohio and Texas. At that time the industry was undergoing a dramatic transformation. Small local or regional businesses were being consolidated by national corporations.

In late 1993 my partner and I were approached by American Medical Response and invited to join its family of companies.  After giving the matter considerable thought, we decided to accept the offer.  In February 1994, we merged our companies in Ohio and Texas with AMR.

That experience eventually brought me to writing my book, How to Sell Your Privately Owned Company.  In my case, the offer made sense (and dollars!) After reading the book, chances are you’ll have a clearer idea of the appropriate course of action for you. Below is an excerpt addressing one question of whether to sell to a larger company:

Does my business offer a specialty product or service that a larger company wants?

Perhaps your decision to sell the business is prompted by the request of someone for you to do so. If your company is successful (and oftentimes, even if it’s not!), there’s someone out there in this vast world who wants to buy it. The old adage, “Everything’s for sale,” is certainly true when in comes to businesses. This is especially true if your business offers some type of specialty or niche service or product.

If your business offers something that is popular in a small but expanding market, then you should expect that tap on the shoulder from a prospective buyer – if he hasn’t already knocked you over with phone calls, e-mails, luncheon invitations or neatly written, yet legalized pleas saying, “Please, please, please let me buy you.” (Well, not exactly in those words, but with enough of an eye twinkle to let you know that the interest is definitely genuine.)

If you’re a manufacturing business with a unique product in a niche market, then you may be a large target in the sights of a foreign firm.

If the niche product that you produce can be easily added to the product line of another company and pushed through the distribution network for lower marketing costs than you are expending, then you might as well be wearing a bull’s-eye. In this case, THEY want YOU.

The key thing is niche. If you make a product that fits a niche, you may want to be prepared to be sold rather than to be swallowed whole by a “bigger fish” without warning and at a lower price than you might otherwise command.

Copyright © MMIX by ERV Productions Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

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What you’ll find in the book

A lot of real-life experience contributed to the information I’ve collected for my book, How to Sell Your Privately Owned Company – Baby Boomer’s Edition. With Baby Boomers moving into retirement age, a lot of entrepreneurs are wondering what’s next. You’ve poured a lot of blood, sweat and tears into your business. Now it’s time to get something back!

Here are just a few key ideas you’ll discover when browsing through the book …

• Six questions you need to answer before deciding to sell.

• Five reasons why For Sale By Owner may be your worst strategy.

• How paying professional fees can be your best strategy.

• The type of lawyer to choose. (This may surprise you!)

• A strategy for dealing with your silent partner – the IRS.

• Whom to rely upon to get you the right buyer.

• How to establish an asking price for your company.

• How to tell if your company is in a “seller’s market.”

• The best time to sell your company.

• One sure-fire method to learn what your company is worth!

• Five common methods used to value businesses.

Copyright © MMIX by ERV Productions Inc. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

Atlanta convention focuses on baby boomers

ATLANTA, GA. June 12, 2008 –  The 25th Annual Meeting of the International Business Brokers Association (IBBA) and the M&A Source – a gathering of about 400 business transaction professionals – wraps up tomorrow.

Whew! For the past five days I’ve been in classes, classes, classes – learning ways to better serve Baby Boomer clients who are seeking the services of professionals to assist them with the sale their privately owned companies.

Some of the instructors have been booked to conduct Exit Planning Workshops at upcoming meetings sponsored by franchise corporations for their franchisees.  I’ll be adding these professionals to my stable of speakers that are available for Meeting Planners, as explained here: http://snipurl.com/k0bdl

Nearing publication

How to Sell Your Privately Owned Company – Baby Boomer’s Edition by Eric R. Voth is getting closer to publication. It is undergoing final editing and is expected to go to pre-print production this week.

We expect to publish an electronic version in June, with print version going to press about July 1.

Visit this site again soon to order your copies in advance. We’re finalizing arrangements with Amazon/Barnes & Noble.

Money-back guarantee

You risk nothing with my unprecedented guarantee…
Here is the fairest offer I can make: Buy the book. Read it. Prove its usefulness for yourself. Then, after 60 days, if you’re not 100 percent satisfied for any reason, simply request a no-questions-asked refund.

When the book becomes available, ordering will be a snap. You’ll simply click on a button.

For now, just click here to send me a quick e-mail. Put BOOK ORDER in the subject line and the words “Notify me when it’s ready” in the message area. On launch day, the first run is available, I’ll e-mail ordering instructions to you.

When selling your company, you can go it alone. Or, you can arm yourself with the knowledge you need to get the best deal. You decide.

Why sell now?

Government bailouts. An uncertain economy. Private Equity Groups. Wall Street investors. Mergers. Acquisitions. Buyouts. Publicly held companies. Industry consolidation.

When you hear these buzzwords, it might be time for you to seriously think about cashing out. Why? Because major players may offer you the most money for your company.

Or maybe you’re thinking about selling for other reasons. Private reasons of your very own. Such as an illness. Or a divorce. Or for estate planning purposes.

Regardless, the thought of selling your business can be scary. It can be a satisfying, rewarding and profitable experience that makes you very, very rich. Or it can be gut-wrenching, unsuccessful and unprofitable.

A little planning and a few prudent actions can make all the difference in the world. And (soon) a blueprint to successfully sell your business can show you the way: How to Sell Your Privately Owned Company by Eric R. Voth.

How to Sell Your Privately Owned Company

Building a business can be a lifelong adventure. Selling it – or merging it with another company – should be the culmination of the saga. A perfect ending gives you the financial security and liquidity that will carry you for the rest of your life.

HTS2.1

Order your copy (soon)!

Selling out is something every business owner thinks about. And dreams about. And sometimes has nightmares about! That’s because your company may be the single biggest asset you own. And selling it may be the most important financial decision of your life. The biggest.

Here’s the reason for this web site…

It’s to tell you about a book called HOW TO SELL YOUR PRIVATELY OWNED COMPANY — A BASIC GUIDE FOR INDEPENDENT BUSINESS OWNERS — BABY BOOMER’S EDITION. It’s jam-packed with page after page of ideas, strategies and tactics to completely guide you through the sale of your company, from “A to Z.” And, it’s written in easy-to- understand language. This book may become the most valuable — and profitable — resource you’ll ever use in your entire career as an entrepreneur!