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Middle Market M: Handbook for Investment Banking and Business Consulting by Michael R. Nall, Christian W. Blees, Robert T. Slee, Kenneth H. Marks

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Epilogue for Business Owners

Congratulations! The American dream is yours—financial independence at last. You are the owner of a business worth a fortune. Now what?

As the Chinese proverb reads, “If you don't know where you're going, you won't know when you get there.”

If you are the owner of a privately held company, the information provided in this book will be of significant help to you as you consider the value of your business and determine how to obtain the most from it as you consider a transition.

Just a short while ago, the idea that you might wish to sell all or part of your business might have been unthinkable. Now that you have begun to think seriously about it, there is uncertainty, some doubt, and a kind of lonely uneasiness. This is very understandable. Your leadership has required enormous energy and more than a little emotional attachment, so the changed role you are now considering—that of a seller—is quite unfamiliar. You are not alone. No owner has ever been trained for this, and most business leaders do it no more than once in an entire career.

Selling your business will be one of the most important decisions in your life. It will have not only a direct impact on your business life but also a profound effect on your personal well-being and financial status. With all of the effort and personal sacrifice required to build a business, it is wise to take extra time to carefully consider your transition plan.

More gold has been mined from the thoughts of men than ...

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