New Book Shows "How to Increase the Value of Your Business Before You Sell"
Tips and Expertise Help Owners Add Appeal and Profits to Businesses Before They Have to Sell
LOS ANGELES, July 8, 2014 /PRNewswire/ -- What is the one critical mistake almost all businesses make? They don't prepare a business ahead of time so it is salable. Ignoring this can cost a business owner dearly when the time comes for a sale. "How to Increase the Value of Your Business Before You Sell…and Make it More Profitable Now!" by Lorraine McGregor shines a light on this important topic. No longer are business owners left in the dark when selling their life's work. The book is available on Amazon.
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With the help of McGregor, business owners are made aware of the pressing need to address the issue of making a business salable now, not later, when exiting is suddenly important. The work must be done personally and inside a business so it is attractive and transferable to the next owner. Readers will learn the right strategic changes that must take place so that the company is worth what the owner wants to sell it for, to a buyer who will be willing to pay that price.
Every day, hundreds of businesses go up for sale, but the owners are in the dark about what they could have done to increase their valuation. Here are a few statistics no one knows, but should, discussed in the 135 pages of "How to Increase the Value of Your Business Before You Sell":
- 50% of our economy in North America is fueled by business owners aged 55 and older.
- 90% of business owners who attempt to sell their companies fail to find buyers, yet are counting on the proceeds to fund their retirement.
- There is $10 trillion in wealth looking for businesses to acquire that have been made salable. Unfortunately, less than 10% of owners take this vital step.
Readers can expect to learn:
- Whether or not their business is currently in a salable and transferable condition, and how to remedy any issues.
- What makes a business attractive to buyers.
- How to find and fix profitability leaks to drive maximum returns today, long before selling.
It takes two to four years to make a business salable, yet owners count on selling when they want to or when facing unforeseen circumstances. The high failure rate shows owners do not give themselves the time to make the right changes to be able to get the biggest return on the biggest asset they've ever owned. A business should be salable at all times. Why? It's more profitable for the current owner, who is the primary investor after all. The ideal buyer will be looking to acquire when it suits their strategic interests not the owner's retirement plans.
Some excerpts include:
- Adapt or Die: As industries change, companies must adapt or risk being pushed out. The right time to sell is before seismic shifts occur in the marketplace.
- Understand the difference between how a business owner values their business and how a buyer would value the same business, two distinct thought processes.
"There is no reason non-technology business owners can't participate in the big buy-outs that technology entrepreneurs enjoy today. All they need is this proven 'salable' blueprint and the willingness to want a return on all they have invested in their business," says Lorraine McGregor. "Most businesses confuse tax planning or succession planning with preparing a business to make it salable, when in reality they are entirely different strategies."
McGregor and her team at Spirit West Management knows how to find and fix profit leaks quickly so a business can become predictably profitable fast and be on the way to becoming salable. Their proven system has doubled and even tripled the value of their clients' businesses. Today these owners are millionaires.
"Lorraine Rieger McGregor has gifted business owners everywhere with a simple, yet thought provoking path to the fulfillment of their highest exit strategy hopes in this book," says James Richardson, President of J2 Investments.
The book is available in hardback and Kindle edition on Amazon.
About Spirit West Management and Lorraine McGregor
Spirit West Management, LTD has been growing businesses to the next level since 1990. This husband and wife team has honed their ability to find and fix profitability leaks. In 2008, their original research with buyers of companies revealed that business owners were unaware of what they would have to change to be able to sell the biggest asset they have ever owned. To alert owners to make their companies salable 2-4 years before exiting, they have written three books and work alongside management teams to become a buyer's ideal acquisition.
Their proven system cuts through the confusion and clutter of advice owners are exposed to so they focus on the 8 strategies that drive, growth in sales, profits, people and market place status, no matter what the industry. Her work has helped owners in companies from $5 million to $100 million in revenue position their companies to attract premium payouts, whether in partial or entire sales. Many have gone from salaried employees to active millionaires doing what they love. Lorraine is the past president of the Association for Corporate Growth's Vancouver Chapter, the leading mergers and acquisitions association in the world. She holds an MBA from Simon Fraser University.
Media Contact: Sara Madiuk, 1-888-317-4687 ext. 702, Email
SOURCE Spirit West Management
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