Book Description
Financial planning is a young industry. The International Association of Financial Planning - one of the predecessors to the Financial Planning Association - was formed less than forty years ago. But as the profession's first tier of advisers reaches maturity, the decisions that may be part of transition planning for their firms loom large. A sale? A partner buyout? A merger? No matter what the choice, its viability hinges on one critical issue - the value of the firm. Unfortunately, many advisers - whether veteran or novice - simply don't know the worth of their practice or how to influence it. That's why "How to Value, Buy, or Sell a Financial-Advisory Practice" is such an important book. It takes advisers carefully through the logic and the legwork of coming to a true assessment of one of their most important personal assets?their business. Renowned for their years of experience helping advisers tackle the daunting challenges related to the valuation, sale, and purchase of adviso
Customer Reviews:
A must by for financial advisors.......2007-01-09
Comprehensive and clear. If you own a finacial advisory practice, this is must read.
Hits the nail on the head!.......2007-01-05
A clear and concise volume. I used it to successfully substantiate my expert witness testimony.
Book Description
The Ultimate Guide to Buying, Selling, Merging, or Valuing a Business for Maximum Return
The next merger wave has already started. You may be looking to grow your company through acquistions, or you may be planning for the perfect exit strategy. In today's highly competitive M&A marketplace, when billion-dollar deals can succeed or fail at the drop of a hat, you and your company—whether large or small—need a dynamic strategy to succeed. Where can you find the most reliable, expertly written information to understanding and executing the essential steps to M&A?
The Complete M&A Handbook has everything you need. With the professional guidance in this one-stop resource, you can limit the length, risk, and complexity of merging, selling, or acquiring a business. Author and attorney Tom Taulli addresses in detail the common—and not so common—questions and concerns buyers and sellers have at every stage. He identifies new trends and swiftly guides you through all the legal, operational, and logistical steps to doing the deal right while helping you understand the myriad options, pitfalls, and opportunities at every turn. Inside, you'll discover how to:
·Attract compatible companies to the deal
·Integrate different corporate cultures smoothly
·Comply with U.S. and foreign antitrust regulations
·Negotiate a fair—but competitive—purchase agreement
·Spot key aspects of due diligence that most companies ignore
·And much, much more
Whether you're a buyer or a seller, you'll find tips and tactics to help you complete your deal, saving you time and company value. Of course, nothing can replace an excellent team of advisers for M&A, but, with this book by your side, you can strike deals with the right terms to ensure maximum return.
"Companies need reliable guidance through M&A. The Compete M&A Handbook will help any company through the painstaking process. Tom Taulli offers invaluable advice in the critical steps to buying or selling a business of any size."
—
Robin Richards, CEO, Vivendi Universal Net USA
"Tom Taulli is masterful in making the M&A game understandable. Whether you're on the sell or buy side, this book is a must read."
—
Alan M. Meckler, chairman and CEO, INT Media Group
"Taulli describes the M&A process clearly and succinctly. This book will help any business owner be better prepared for the big change."
—
Walter Cruttenden, Cruttenden Partners
"M&A is the seemingly easy process of bringing buyer and seller together. The reality is that selling a business is quite complex, time consuming, and risky. Tom Taulli does an admirable job distilling a complex subject into an easily understood road map for enterprises of all sizes."
—
John McCracken, managing director, M&A, WR Hambrecht and Co.
"Tom Taulli has done it again. His examination of M&A gets an A+ for getting to the meat of the matter. If the business world had more of this no-nonsense kind of accounting analysis, perhaps it wouldn't be such a shark-eat-shark world out there."
—
Thom Calandra, editor in chief, CBS MarketWatch
"An excellent overview of the M&A process. Very readable."
—
Robert Machiz, CEO, MoneySoft Inc.
Customer Reviews:
Good Book unless you are "in" M&A.......2007-08-23
This book is fine for business owners looking to understand the M&A process. I was recently hired as an associte at a M&A firm. I have my MBA and found most information in the book to be elementary.
Wonderful Introduction to the M&A Process.......2004-03-02
Tom Taulli, media savant and expert dealwatcher, has penned a volume that is useful, comphrensive, and readable. Bravo!
A Great Acquisition !.......2004-01-22
This book is a terrific read for any business person who has been, will be, or wants to be in Mergers and Acquisitions. Tom Taulli does a great job educating and advising the reader. This is a must have book for investment bankers, business brokers and dealmakers, but especially for executives of companies who are considering selling or acquiring other businesses.
A Must read for any M&A Professional.......2004-01-11
The Complete M&A Handbook is a great read. I plan on buying several copies to hand out to clients. The explanations are very clear and concise. Yet detailed enough for a professional to put in the tool box for reference.
M & A for Dummies (and Experts, too).......2004-01-01
Tom Taulli is the expert that has taken a complex, multi-layered technical subject and put it in a form that all M&A participants can easily read, easily understand and easily put to immediate and extensive use. I am an educated, experienced Venture Capitalist and M&A intermediary professional that has learned lots of new techniques and tips from Tom, while having a thoroughly enjoyable time reading about a subject that is not new to me. I'm sending all my clients and business associates a copy of Tom's book, as it will enhance their knowledge about how to do business in M&A and encourage a higher degree of professionalism, effectiveness and efficiency in an otherwise complex and confusing process. Tom makes understanding M&A easy, or at least much less mysterious. Book is a great reference source for those that have questions about the process while engaged in M&A, regardless of their role in the process. BUY IT! You will use it for years.
Book Description
The Groundwork of Company Valuation for First-time Buyers and Sellers
A Basic Guide for Valuing a Company has helped thousands of first-time buyers and sellers realize a fair, substantiated value for small businesses. Now in its Second Edition, this book covers common valuation techniques and myths, tips for determining tangible and intangible values, sample balance sheets and income statements, and approaches to valuing start-up technology and dot-com businesses.
This nuts-and-bolts guide addresses publicly traded and privately held firms, including traditional brick-and-mortar companies and the intellectual property industry. With a clear, concise writing style, the author walks readers through common practices for valuing, from collecting data to arriving at a saleable figure for all types of businesses, including professional practice, manufacturing, wholesale distributors, and a variety of retail operations. This new edition features perspectives on nontraditional valuation practices, guidance for using an excess earnings method, and an abundance of case studies from actual companies.
In order to make the most profitable decisions, before putting a business on the market or making an offer to acquire one, every beginning business purchaser and seller should read A Basic Guide for Valuing a Company, Second Edition.
Customer Reviews:
good conceptual overview.......2001-01-01
Good overview of valuation concepts, but if you want to sit down and actually come up with a number, try "Unlocking the Value of Your Business".
Great resource for novices.......2000-05-11
Will Yegge has the unique ability of being able to present a difficult subject in a logical, intelligent, concise and interesting manner.
Even though I have no background whatsoever in accounting, I was able to follow the information in this book and use it as my primary guide in valuing a company that I was interested in purchasing. It is a great resource for novices.
....unnecessarily and excruciatingly verbose!.......1999-11-27
Although his work on valuation techniques is straightforward in later chapters, the 1st several chapters do not do an adequate job of explaining the psychology of business valuation, buying or selling or the 'intangible' of business value. Words such as 'steeds' and 'pestilence' belong in literature, not reference manuals. Are Cliff Notes available to decipher just what these chapters are trying to communicate? I am trying to buy a business;lots of hard work lay ahead. Why must this book start off so unclear?
Professional approach with simple expaniations, easy to use.......1999-07-25
In preparation to sell my business for appx $10MM I sought many references on how to make a professional presentation and and use methodology that would be reasonable and logical to lead to a sale. Wilbur has doen a great job with this and his other book, How To Sell A business. I recommend that anyone read there two before putting a package together. I have had many favorable comments from both principals and brokers concerning the structure of the presentation I was able do make using Wilbur's help.
Excellent on both the "art" and "science" of valuation........1998-12-10
Just what I needed as a small business owner who needed a basic understanding of both the art and the science of valuing my company. Heavier read than it looks, since I didn't needed to know everything about non-related businesses. I did need to know how what factors must be considered and how complex some deals could be. Yegge speaks from experience and that is obvious, helpful and most comforting.
Book Description
Beginning with a look at the most successful mergers and acquisitions in the '90s, Marren covers the new marketplace for M&A activity and gives readers new approaches to target valuation. Mergers & Acquisitions is full of valuable: Worksheets; Checklists; Case histories.
Customer Reviews:
good but.......2001-01-01
Good book on deal structure, but if you want a valuation number, check out "Unlocking the Value of Your Business".
Totally outstanding.......2000-05-23
A must read not only for beginners but also for practicioners. This book provides something different than other M&A / valuation books that I've read. It explains various techniques and structures of M&A transactions in a way that has never been explained in other books. The basic definitions are there to explain the most basic things, but the author gives examples to show the application of a real life situation. Note that although the book provides modeling examples, it doesn't go through them line by line. So for those of you who try to get to know how to create a spreadsheet model, this is not the book, but if you want to know, say, the implication of a structure to a tax basis of the merging entities, this is the one to have.
very helpful.......2000-05-21
This book doesn't pretend to be a dictionary, as most text books do. It is highly focused on M$A on the valuation side and the book is well organized and easy to follow. The book does not (and should not) include everything about M&A, but everything included in the book is well describled and supported by examples. Unless some technical text books, this one is actually written by English (maybe it's because the author is not a PhD) and that makes the book very readable.
Most comprehensive book on M&A.......1999-02-22
One of the best book ever read on mergers and aquisition. It gives you complete detail on not only the valuation of deals but also the minute tax details and complex methodologies. Every concept is supported with an example, which makes understanding of the concept very simple.
Fantastic overview of M&A with many real-world examples.......1998-03-25
This book is a great way to learn about the nitty-gritty of mergers & acquisitions. It offers a variety of methods to examine M&A projects and it uses real-life examples. As opposed to many other texts, it is also very readable. It is one of the few accessible M&A books for neophytes.
Book Description
This user-friendly manual includes updated forms, checklist, tables, examples and anecdotes that enable entrepreneurs to get professional valuation results.
Customer Reviews:
Excellent!!.......2007-04-23
After ten years as a bank underwiriter for small businesses, I am very impressed at how this book distills a great deal of information down and puts it all in one place. If you are planning on buying or selling a business, are a beginning or experienced entrepreneur, or are just interested in what makes a business valuable or not, this surprising book is for you.
Invaluable Handbook for Entrepreneurs.......2002-10-15
A "blue collar" book for gaining a negotiating advantage. From reading financials to closing strategies . . . this twenty dollar book saved me thousands. If your buying a business . . . or selling one . . . you'd be a fool not to invest in this one.
Book Description
This 224 page, 8.5"x11" book provides all of the practical information that business buyers and sellers need to efficiently find each other, negotiate, and successfully close the deal. It's written in an easy-flowing first person narrative style that makes this complex subject easy for everyone to understand and apply in their own situation.
Buying or selling a business can be one of the three or four most important decisions of a lifetime. Yet, many people rush into this decision ill-prepared and lacking crucial facts. This book provides the information that minimizes financial risk and reveals how the reader can get the upper hand when negotiating the purchase or sale of any business … information that can literally spell the difference between success and failure.
This book is a revealing publication that unlocks the strategies for success in buying or selling a business. These strategies are fully explained within the unique context of the fifteen "laws of the business buying and selling jungle." The book is written by a business broker who successfully negotiated many business sales . . . and knows the field inside and out. The author provides the reader with an insider's grasp of what they need to know in this dynamic business endeavor. One of the many features that makes this book unique is that it provides the buyer's as well as the seller's perspective. This can be an enormous advantage whichever position the reader happens to be in.
This authoritative book contains eight information-packed chapters and includes nine appendices with all the example contracts and forms needed to consummate the sale. It also has an index and a full glossary of all the terms needed to have the edge the reader wants as they deal with buyers, sellers, business brokers, attorneys, accountants, and bankers. The reader will learn the pros and cons of dealing with business brokers, how to evaluate the financial worth of a business, how to find sellers or buyers, how to position themselves to get the best possible advantage in negotiations, how to accomplish the all-important due diligence process, how to arrange seller financing, and how to successfully close the deal.
Every one of the pages in this book are crisply written in an orderly, step-by-step sequence. It's both educational and also entertaining to read. It takes the complexities out of the deal and gives the reader the working knowledge and facts they need to make all-important decisions. The author takes the reader behind closed doors where they learn all the nuances and intricacies of structuring the deal. He gives the reader access to dozens of tips, techniques and strategies known only to a handful of professionals who have made business brokering their career. When the reader finishes "Strategies for Successfully Buying or Selling a Business" they will know more about the subject than 99% of the average business people in America!
Book Description
In Valuation: Avoiding the Winner's Curse, authors Kenneth R. Ferris and Barbara S. Pecherot Petitt will help you master both the science and the art of M&A valuation. Concise, realistic, and easy to use, it brings together the field's best "rules of thumb," compares every leading traditional and alternative approach, presents examples and case studies from many industries, and offers practical solutions for today's key accounting, reporting, and tax-related challenges.
Download Description
In Valuation: Avoiding the Winner's Curse, authors Kenneth R. Ferris and Barbara S. Pecherot Petitt will help you master both the science and the art of M&A valuation. Concise, realistic, and easy to use, it brings together the field's best "rules of thum
Customer Reviews:
A Good Read!.......2005-07-22
The evidence is undeniable - most mergers fail and most acquisitions never achieve their promised synergies. Yet firms keep bidding top prices to acquire targets. Economists have a name for this phenomenon: the winner's curse. This theory says that the winner in any auction is apt to be the bidder who has most drastically overestimated the purchase's value. The winner, in this case, turns out to be a real loser. Authors Kenneth R. Ferris and Barbara S. Pecherot Petitt present compelling examples of companies that overpaid disastrously for acquisitions. They outline several approaches to valuation that might spare other companies from that sorry fate. We recommend this comprehensive and quite directly applicable book, which is full of cautionary notes and recommendations on how and when to use various valuation models. Why do companies continue to flirt with the winner's curse? The authors conclude, perhaps naively, that companies simply don't know how to correctly value their targets. Whatever the cause, there continue to be many cases where losing, rather than winning, would be a blessing to shareholders.
Broad overview, introductory and basic.......2005-01-26
The book appears to have grown out of course notes and has remained at that level only.
There are better books out there, even if you were to focus only on valuing for M & A needs.
Insightful!.......2004-07-28
I took a course offered by Ken Ferris before the book was published, then read the material. It reminded me of a lot of the insights that I gained from the course. Good book for practitioners.
Met the man, taken his courses..........2004-07-02
This book, and another by Ferris, was a required textbook for a class taught by the author (Ferris) at the school where he teaches. It is an indication of the respect that the other Finance and Accounting profs have for Prof Ferris that his books are used by no other profs there- in fact, many riducle the simple errors and theoretical mistakes that are present in this book. As a guide to valuation of public firms, this book is useful only in outlining a simplisitc cookie-cutter format that lacks any depth or analysis.
Average customer rating:
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Due Diligence Handbook (Two Volumes)
William M. Crilly
Manufacturer: AMACOM/American Management Association
ProductGroup: Book
Binding: Ring-bound
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The Art of M&A Due Diligence
ASIN: 0814404073 |
Book Description
DUE DILIGENCE HANDBOOK
This is the most complete guide available on how to properly perform a due diligence investigation -- and radically improve the success rate of a pending corporate merger or acquisition.
And it's not just a simple checklist of steps to follow. This comprehensive tool includes 500 pre-formatted forms for recording and analyzing every possible operational and financial activity, as well as clues of what to look for and what to look out for. The looseleaf format makes it easy to photocopy and distribute pertinent information and forms to all members of the due-diligence team.
WILLIAM M. CRILLY (Aliso Viejo, CA) is the chairman and founder of Newport Pacific Associates, a firm that assists companies in arranging mergers and acquisitions.
Average customer rating:
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BizPricer¿ Business Valuation Manual w/Software
Russell L. Brown
Manufacturer: RDS Associates Inc.
ProductGroup: Book
Binding: Plastic Comb
Corporate Finance
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ASIN: 0965740056 |
Book Description
BizPricer Business Valuation Manual w/Software" is a user-friendly, extremely cost-effective resource for prospective business buyers and sellers (and business brokers) who need to know the fair market value of a business! The 32 page Manual includes a Microsoft Excel based CD-ROM software program.
"BizPricer Business Valuation Manual w/Software" walks the user through the valuation process without getting involved with complicated academic theory. BizPricer accomplishes all of the calculations for you. All you do is enter the company's financial data. No financial expertise or specialized knowledge is needed.
The software uses the Microsoft Excel™ program on your computer. No questionable software program to load that could cause problems with your system!
Save hundreds to thousands of dollars over hiring an appraiser to provide you with a similar result. Use the software over and over again for a "what-if" analysis. BizPricer™ uses the same valuation method used by the author/business appraiser (and many other appraisers) in hundreds of business valuations and verified against actual transaction data and real-world results. BizPricer even calculates the Goodwill value in the business!
Business Buyers: Don't overpay for an over-priced business! Estimate a solid fair-market value for the business you're considering buying. Experience shows that many businesses are overpriced by at least 50% if the seller or business broker has set the price without a professionally based appraisal. Use the BizPricer results in your negotiations to establish a fair price for the business.
Business Owners: What's your business really worth? Don't leave money on the table! Find out now what your business might sell for in a fair-market transaction. Learn what to do to maximize the selling price. Do a "what if" analysis to see what expenses need to be cut to greatly increase the business's value and by how much. Use BizPricer as a planning tool to unlock the hidden value in your business.
Business Brokers and Real Estate Agents: Forget trying to figure out the fair-market value of a business on the back of an envelope or by using expensive software that calculates dozens of different values using several different methods that have little relationship to the real world. Calculate a fair market value for the business that makes sense for both buyers and sellers. Don't waste your time trying to market an overpriced business that won't stand up to the negotiation process.
BizPricer will:
- Determine the actual and projected available cash flow for the business.
- Calculate the risk-factor multiplier used in determining the business value.
- Factor in the current assets and adjust for liabilities to be assumed.
- Determine the Goodwill/intangible asset value.
- Calculate the overall business value including all assets and liabilities.
BizPricer will create:
- Reconstructed Income and Expense Statements
- Available Cash Flow Projections
- Continued Operations Risk Assessments and a Valuation Multiplier
- A Capitalized Valuation Estimate (the fair market value) NOTE: You must already have Microsoft's Excel program installed on your computer (any version, MAC or PC).
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