Author’s Forward To The Third Edition
When I began this project I had no idea of the demand for this book’s timeless teachings. Culture has conditioned us to think in a particular way; unfortunately, that way isn’t always beneficial to a business owner.
Take “retirement” for example. Today’s culture teaches us that we retire at age 65. I counsel people to retire when you have enough resources to support your lifestyle indefinitely. If you have enough money to retire at age 50, then do so; just make sure you know what you’re going to do with the rest of your life.
Introducing such concepts into the life cycle of business ownership is what Exit Strategy is all about: Retirement; Planning an exit strategy; Preparation; Controlling the timing of your exit from business ownership; and Executing the selling process.
Raising awareness of these concepts in the minds of business owners is the mission of this book. And it is the infrastructure of how my mergers and acquisitions advisory firm, Faelon Partners, Ltd., serves its clientele. The concepts explained in this book are based on decades of personal experience in mergers and acquisitions.
In short, these time-honored concepts will help you maximize the value of your business and minimize the tax ramifications of its sale.
It has been a gratifying to take this message across the country, and now to Europe. I am thankful for the many professional advisors who have promoted the book, and for the many business owners who have come to us to advise them on their exit strategies.
I hope this Third Edition helps many more business owners achieve their personal and professional objectives. We look forward to helping you develop your personal exit strategy.
Thomas W. Lyons, President
Faelon Partners, Ltd.