Normal view MARC view

Tips and traps when buying a business

Author: Balanko-Dickson, Greg Publisher: McGraw-Hill, 2006.Language: EnglishDescription: 275 p. ; 23 cm.ISBN: 0071457976Type of document: BookBibliography/Index: Includes index
Tags: No tags from this library for this title. Log in to add tags.
Item type Current location Collection Call number Status Date due Barcode Item holds
Book Asia Campus
Main Collection
Print HD62.7 .B35 2006
(Browse shelf)
900098694
Available 900098694
Total holds: 0

Includes index

Digitized

Tips and traps when buying a business Tips and traps when buying a business Introduction Go Ahead and Make Your Day xv Financing Is the Least of Your Worries xv Eight Reasons to Buy an Existing Business (Instead of Starting from Scratch) Factoring in the Baby Boomer Demographic xviii Trust the Process, Make It Work for You xix It's All in the Details xix Final Note xx PART xvi 1 YOU REALLY CAN BUY A BUSINESS The Key to Buying a Business: Preparation and Organization Dangerous Liaisons-Believing Your Own Assumptions 4 Beware of Your Emotions 5 Planning Reduces Risk 5 Personal Sacrifice, Priorities, and Results 7 Six Phases of Business Planning 9 Learn How to Write a Business Plan 10 Selling Yourself-Hone Your Communication Skills 12 Prepare Your Resume or CV 1 4 Filing System 14 The Electronic Method 15 Building Relationships 15 1. Get Control of Your Future 4 2. No Guts, No Glory: Things to Consider Before Buying a Business What Is Your Dream? 1 7 Face the Brutal Reality 18 Maintain Perspective 18 Prepare for Failure 19 17 Evaluate the Business Potential 19 Thoroughly Review the Business You Want to Buy Investigate the Industry 2 2 Success Factors 2 2 Basic Business Skills 2 4 Personal Issues 2 5 Types of Businesses 27 Which Type of Business Is Best for You? 29 Franchise 29 31 Starting a Business from the Ground U p Buying a n Existing Business 33 The Benefits of Buying a n Existing Business 3 4 20 3. Uncovering the "Right Stuff' Finding the Right Stuff Questionnaire 37 PART 2 LOCATING A BUSINESS TO BUY 4. Working with Professional Advisers The Team 68 You Are Still the Decision Maker 68 Advisers Provide Perspective 68 Working with an Accountant or CPA 68 The Deal before the Deal 69 Business Brokers 69 Informal Advisers 70 5. Finding a Business That Fits You Businesses Are for Sale for a Reason 71 Look for a Business That's Suitable for You Selecting the Type of Business 73 Learn More about the Industry 74 Other Things to Consider 77 72 6. Locating a n Acquisition Target Create a Profile of Your Ideal Business Acquisition 81 Tapping Personal Relationships to Locate a Business 82 Locating Businesses That Are Not for Sale 83 Market Analysis 8 4 Competition Analysis 8 4 Identify Trends in Sales and Profits by Market Segment 85 Market Size and Market Share 85 Local Market Information Online 86 Importance of Estimating Market Share Market Area 87 External factors 8 7 87 PART 3 DETERMINING THE VALUE OF A BUSINESS 7. The Goodwill Controversy Goodwill Is Subjective and Controversial 91 Impact of Goodwill on the Price of a Business Accountant's View of Goodwill 9 4 A Business Owner's View of Goodwill 9 4 Every Successful Business Has Goodwill 95 Creating Your Own Goodwill U p Front 96 92 8. The Art o f Business Valuation Value of Hard and Soft Assets 99 Value of Market Position 100 Evaluating How Much to Pay for a Business 100 Common Valuation Methods 102 Use Multiple Valuation Models 104 Other Considerations That Impact Value 105 Understanding Appraisals 106 Limitations of the Analysis Process 107 9. Uncovering Hidden Assets: The Human Factor The Employee Information You Need 109 Be Cautious in Your Communications with Employees Get the Information You Need by Listening 111 Pay Attention to Attitude 11 2 110 10. Selling t h e Seller-Gaining Cooperation Beware of Your Comfort Zone 115 Discard Fear, Be Confident 115 Free Money 116 Build Rapport 116 Negotiate, Do Not Demand 11 7 A Healthy Ego 118 The Person Listening Controls the Conversation Read Body Language 119 Understanding the Seller 1 21 118 PART 4 HOW TO MINIMIZE YOUR RISK 1 1. Show Me the Money: Understanding Financial Statements Following the Money Trail 125 Introduction to Financial Statements 126 The Five Types of Financial Statements 126 Retained Earnings, Stockholders' Equity 129 Goodwill 130 Cash-Flow Analysis 131 Fair Market Value 131 Liability Accounts 131 Asset Accounts 132 Netprofit 134 Gross Profit 134 Net Worth 134 Appraisal 134 Financial Analysis 1 3 4 Business Plan 134 Generally Accepted Accounting Principles (GAAP) Professional Financial Advice 135 135 12. Prepare or Repair-Create an Acquisition Plan The Acquisition Target 138 Your Business Goals 140 Operational Information 141 Legal Structure 141 Products or Services 141 Industry Analysis 1 4 6 Marketing Strategy 146 Operations 150 Implementation Pian 151 Financial Plan 152 1 3. Business Finance 153 Financial Information You Need to Organize Your Accountant's Functions 154 Financial Projections 154 Your Financial Plan 155 The Purpose of Financial Projections 155 Gather Historical lnformation 156 158 The Art of Financing Your Business Loan Officers, Loan Committees, and You 161 The Loan Officer's Role 163 164 Qualifying for a Line of Credit Using a Line of Credit 165 Where Should You G o for a Loan? 166 Emotional Traps 167 14. Does Your Business Plan Pass the Acid Test? Market Size and Market Share 171 Finding Market Size the Easy Way 173 Estimating Market Size-Doing It Yourself Sensitivity Analysis 174 173 PART 5 BUYING A BUSINESS STEP-BY-STEP 177 179 15. Approaching Business Owners-Who Are You? W h y Should I Care? Make Sure You Are Organized 179 Before You Approach the Owner 180 181 The First Meeting Practice Professional Detachment 181 Matchmaking Made Easy 183 Getting the Seller's Attention 185 16. Understanding the Seller's Situation The Seller as the Biggest Obstacle 189 Move Negotiations Along by Helping the Seller 1 9 0 Move from Necessity Thinking to Possibilities Thinking 190 Understand the Psychology Driving a Business Owner 192 193 Shift Your Style to Mirror the Seller's VAKOG Preferences Keeping Notes 194 17. Preliminary Negotiations Begin Let the Seller Talk 1 9 6 Information Gathering Questions 196 Potential Pitfalls 2 0 0 Balancing Risk and Rewards 202 18. Overcoming Roadblocks and Obstacles and Identifying Deal Breakers Review and Organize Your Notes 2 0 3 Roadblocks, Obstacles, and Deal Breakers Defined Overcoming Obstacles and Roadblocks 2 0 7 205 i I 19. Finding Solutions and Preparing a Letter of Intent The Letter of Intent 212 Do Not Use Templates 213 Binding Provisions 2 13 Nonbinding Provisions 2 1 4 Other Considerations 2 14 Preparation Checklist 2 15 Advanced Communication Tips 217 20. Due Diligence-Verifying Information Take the Time to Verify Everything 220 Prepare a List of Required Materials 220 The Clock Starts When . . . 220 Due Diligence List of Lists 221 Create Your Acquisition Plan 227 21. Executing a Deal Buying with Confidence-Review Your Work 229 How People Make Decisions 2 3 1 When in Doubt Refer Back to the Letter of Intent 232 The Final Sales Agreement 232 22. The Transition: Making the Business Yours and Boosting Morale The First 9 0 Days 233 What Is a Communication Plan? 234 A Morale Boost 234 Seller's Remorse 2 3 5 From Corporate Culture to a Sense of Community 233 237 23. Case Studies Auto Repair Shop 239 Successful Business Owner Diversifies 241 Appendix A Business Dictionary : Appendix B: Business Plan Writing Guide Appendix C: Due Diligence Checklist Appendix D: List of Legal Agreements Appendix E: N e t Worth Statement Worksheet Appendix F: Transition Checklist Appendix G: Web Links Appendix H: Resume Guide Index 267

There are no comments for this item.

Log in to your account to post a comment.
Koha 18.11 - INSEAD Catalogue
Home | Contact Us | What's Koha?