Table of Contents

Contents

Acknowledgmentsix

Introduction1

PART 1:THE PROACTIVE SALE STRATEGY5

Chapter 1:Reducing Seller Risk and Increasing

Sale Proceeds7

Chapter 2:Step One: Assess the Company and

Owner for Sale Readiness17

Chapter 3:Step Two: Presale Due Diligence37

Chapter 4:Step Three: Identify the Competitive

Advantage55

Chapter 5:Step Four: Identify Potential Buyers69

PART 2:THE OUTRAGEOUS PRICE PROCESS77

Chapter 6:The Four Pillars of Selling Your Business

for an Outrageous Price79

Chapter 7:Pillar I: Leverage Your Company's

Competitive Advantage85

Chapter 8:Pillar II: The Outrageous Buyer99

Chapter 9:Pillar III: The Outrageous Seller107

Chapter 10:Pillar IV: The Outrageous Adviser119

Chapter 11:Executing the Sale143

Chapter 12:Wrap-Up169

Appendix A:Sale Readiness Assessment173

Appendix B:Legal and Financial Due Diligence List181

Appendix C:Management System Due Diligence List199

Appendix D:Checking an Investment Banker's References203

Appendix E:What to Look for in an Engagement Letter205

Appendix F:Sample Nondisclosure Agreement211

Appendix G:Questions to Ask a Prospective Investment

Banker215

References219

Index221

About the Author

Kevin Short is the Managing Partner and CEO of Clayton Capital Partners, a leading middle market M&A advisory firm. Over the past 25 years, he has orchestrated over 150 purchase/sale transactions of mid-sized businesses with an aggregate value of more than $1 billion.

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Bronze Winner in the Entrepreneurship Category 2015 Axiom Book Awards