Summer Reading List for Owners of Small and Mid-sized Businesses
Books on Selling Your Business, Financing Growth, and Other M&A-related Topics
Popular business book lists typically include motivational, team-building, tips on growing your business, or autobiographies of successful entrepreneurs. Rarely do I see books about getting your business ready to sell, planning for an exit, financing, or M&A. These topics may not make it on a best sellers list, but in my experience, are of interest to most business owners.
Keeping with my goal of sharing information that I think is helpful to small and mid-sized businesses owners, I recommend the following titles to include in your reading list:
The $10 Trillion Opportunity
The $10 Trillion Opportunity is a book for advisors, like myself, who help business owners prepare to sell. It discusses the economic tidal wave the authors predicted in 2005. Baby boomers, who own most small and mid-sized businesses, will soon retire. Without proper exit planning, the trillions of dollars in wealth they created could disappear. Though this book is geared towards advisors, it provides clear case studies and examples of what you can expect and how you can prepare to exit your business. Topics addressed include The Benefits of Exit Planning, Defining a Legacy, Understanding Exit Options, Estate Planning and Maximizing Value.
Every Family’s Business and Willing Wisdom
Tom Deans wrote two books based on his experience growing up in a family that owned a successful business and thoughtfully transferred the wealth it generated. His book, Willing Wisdom, is a New York Times best seller, and the author speaks throughout the world about this vital topic. Both books are quick reads, and they offer practical advice on transferring the wealth you created to future generations.
Two Books by Local Tampa Authors:
Turn Your Blood, Sweat & Tears Into Cash: A Guide To Sell Your Business
Exit Like a Winner: The Proven Success Formula for Selling Your Business
Both of these books are excellent guides to preparing and selling your business. The authors of these books run firms that advise on business exits and other areas of M&A. If you live in the Tampa Bay Area, I’d suggest reading the books and contacting the author to meet for coffee and discuss your plans and how they may help you.
In-Depth Reads
The last two on my list are much more in-depth but worth the effort if you want to learn more about building value and private company financing. The authors are very knowledgeable, and they do an excellent job of covering each topic thoroughly. Unlike most finance books, these focus on the private markets. For those who have taken a college finance course, these books will fill in your knowledge about the private market.
Valuation for M&A: Building Value in Private Companies
Topics include:
Winning through M&A
Building Value and Measuring Return on Investment In a Private Company
M&A Market and the Planning Process
Exit Planning
The Handbook of Financing Growth: Strategies, Capital Structure, and M&A Transactions, 2nd Edition
Topics include:
Acquisitions, Recapitalizations, and Exits
Capital Structure and Financing Strategy
Sources of Capital and What to Expect
Expert Support - The Players and Their Roles
Whichever book you choose from this list, I hope you enjoy it and come away with greater clarity about your plans. If you know of books to include in this list, please feel free to contact me and let me know your suggestion. I’d like to thank the Tampa Chapter of the AM&AA for hosting Peter Christman, author of the $10 Trillion Opportunity, and Tom Deans, the author of Every Family’s Business and Willing Wisdom. Hearing them share their personal experiences enhanced the knowledge I gained from their books.
About Highpoint CFO
Highpoint CFO is a CFO consulting firm based in Tampa, Florida that serves clients throughout the US.
Scott Young is the President and Principal Consultant at Highpoint CFO. He is a CPA, Certified Merger & Acquisition Advisor (CM&AA), and Certified Value Growth Advisor (CVGA) with over 25 years of experience in finance and accounting at industry-leading companies.
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