Michael Meyer, a partner with the Benjamin Ross Group (a business sales, mergers and acquisitions firm), is a nationally recognized mergers and acquisitions business intermediary who represents successful business owners and entrepreneurs in the sale of their business. An experienced entrepreneur himself, Michael brings more than 35 years of entrepreneurial and business sale experience to his clients. Michael is a Certified Business Intermediary (CBI) – a prestigious designation in the business brokers’ field awarded to intermediaries who have proven professional excellence through verified education, successful practical experience, industry expertise and ethical values aligned with the International Business Brokers Association standards of professionalism.
Over the years, as an entrepreneur, a business broker and deal maker, I have had the opportunity to meet with hundreds of business owners interested in selling their business. What most people don’t realize is that only one in five, or twenty percent of the small businesses that enter the marketplace actually sell. Even more troubling are the vast numbers of possible sales that fall apart during negotiations or due diligence and never make it to the closing table. Most issues or “deal killers” can suddenly appear in the heat of deal negotiations and due diligence, but the truth is, many are a myriad of expectations that should have been addressed before putting the business on the market. Add to this list, a lack of preparation and planning and it is no surprise that only twenty percent of businesses achieve a successful closing.
Having seen so many businesses come across my desk with the same issues, I decided that I must take matters into my own hands. Something has to be done and it prompted me to write this book in an effort to help business owners prepare for their eventual exit.
DEAL KILLERS: WHAT TO AVOID WHEN SELLING YOUR BUSINESS, is a practical guide for current and future business owners who will, at some point, consider the sale of their business. The sale of a business is a complicated and stressful process. This book covers the most blatant issues many business owners overlook that destroy a company’s salability if they are left undetected and unresolved. Being well prepared will position your business to minimize the risks and maximize the potential rewards, by avoiding the most common and costly mistakes.
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