"During the Summer of 2005, my partner and I sold our majority shares of Liberty Mortgage, a mortgage bank. I was the "thought guy" back then and thought I could handle anything. Since I "knew" what I was doing, I did not enlist the help of anyone. I did it all myself. After all, admitting I needed help showed weakness, and I didn't want to be weak.
A few months later, my partner and I found ourselves in an attorney's office enlisting his help to get us paid what was owed by the new owner. "Why didn't I get help?" I thought. "How could I be so stupid and not have planned better for the sale of my business?" The sale was a disaster, and the experience was awful.
When I became an M&A advisor, I vowed to not let the same horrible experience happen to other business owners that happened to me. This is the purpose of this book. I've packed into the pages over 27 years of experience and knowledge. The content is not from academia: It is from the school of hard knocks, with real-world examples of successes and failures, written to the savvy business owner who is selling his or her business--his or her baby, if you will. The business owner who wants to maximize the cash in his or her pocket with an optimal selling price and preemptive tax-saving strategy. The business owner who will take care of the employees who have been loyal for many years. The business owner who wants a successful sale and smooth transition, who can look back with pride after the sale and say, "I built that,and now it belongs to someone else who will continue my legacy."
FIND RICK'S BOOK HERE: https://amzn.to/3MSw0Du
ABOUT RICK J. KREBS
Rick J. Krebs, CPA is the co-founder of Business Sales Group, a Mergers & Acquisitions Advisory firm which he manages and serves as a sale-side advisor to business sellers. He likes to develop tax reduction strategies for business sales. He is a member of the CAPS Trust advisory team and co-owner of My Biz Value, a business valuations firm. Rick has been quoted as an expert at selling businesses in FORBES.COM.
Rick has been advising clients since 1993. He not only advises clients, he educates other CPAs, bringing out of obscurity tax saving strategies and teaching continuing education classes about Mergers & Acquisitions through the UACPA. Rick attended Utah State University, where he received both a Bachelor of Science degree in Accounting and a Master of Accounting degree in Accounting. Rick is the founder of Liberty Mortgage which he ran, scaled to a multi-state mortgage bank and later sold. He knows what it is like to sell a business.