When Is The Right Time To Sell My Business?
By: Richard MowreyAuthor Rich Mowrey tackles one of the most common questions business owners ending their career ask themselves. "When Is the Right Time to Sell My Business?"
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Book Description"The very best way to predict the future is to create it"In his new book, When Is The Right Time To Sell My Business?, Richard Mowrey tackles a decision point that many business owners inevitably find themselves in.
To really ensure an informed decision can be made, he delves deeper into this question to guide you through a very actionable series of steps.
Mowrey helps business owners examine their business' value attributes, personal assets, and the types of plans that need to be in place in order to sell the business. He then focuses on four major areas of personal assessment to help crystalize one's readiness to start the process of selling their business.
Mowrey emphasizes, "It is time to stop silently asking the question and then formulating the answer. It is time to focus on the answer first."
By shifting one's focus on the answer, hesitation and fear can be minimized, resulting in a decision backed by confidence.
In addition to providing guidance and expertise to the decision-making process, Mowrey offers specific objectives required of the business owner as they start the next phase of their life.
By examining the factors addressed in this book now, a business owner will have all the necessary components in place when the opportunity to sell arises or when they decide to initiate the opportunity themselves.
Mowrey focuses on the basics of business valuation and readiness assessment - both qualitative and quantitative - in order to help the owner prepare to sell their business. From there the focus shifts to value enhancement and strategic planning because as he explains, "Price is what you receive, value is what you deliver." Together, all this preparation and the ultimate execution of a transfer plan will require both focus and a good measure of personal energy.
Mowrey also addresses:
-Your personal finances so you can be prepared to be without the business once it is sold
-How family plays a role in decisions and succession planning
-The difference between financial buyers, strategic buyers, and industry buyers
-Various ownership transfer scenarios
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