The Exit-Strategy Playbook: The Definitive Guide to Selling Your Business

by Adam Coffey

From the bestselling author of The Private Equity Playbook comes Adam Coffey's second offering, The Exit-Strategy Playbook.

Explore the universe of potential buyers. Learn how to assemble a team of expert advisors to prepare your business for sale. Walk step by step through a typical investment-banker-led midmarket sale process from start to finish.

Adam Coffey has spent the last twenty years as CEO of three private-equity-backed national service companies. Through his experience executing a buy-and-build strategy, he has bought and sold more than 100 companies ranging in size from $1 million to $1 billion. Selling your business is an art. Learn from an experienced artist how to successfully navigate the sale process.

This book isn't about selling fast—it's about selling smart and achieving maximum value for the time and effort you've put into your company. Pick up The Exit-Strategy Playbook today and get an instant PhD in the art of the business sale.

Genres: Business, Nonfiction

120 pages, Kindle Edition

Published September 14, 2021

Reviews

[Jaan Liitmäe · Rating 4 out of 5]

Good reminder about principles related to m&a activities

[Mark Muckerman · Rating 4 out of 5]

Overall - good (and I'm pretty critical of 'business insight / wisdom' books).

From the right perspective of expectation and context setting, this is a very strong work: It is for the small business entrepreneur, and comes from a foundational perspective assumption that they know nothing about selling their business / exiting. For a book like this, that's actually a good starting point and provides a framework for clarity and simplicity that makes this Good.

It's simple, direct, concise and lays out a four-part (phase/stage) blueprint that entrepreneurs should know, consider and operate within, when looking to a future acquisition or exit from their business. It is written for the Everyman reader, and readers can walk away with a simple list of two pages of notes outlining their own plan, to-do's, goals, and timeline that should give them structure and guidance on how to move forward.

That includes a short list of "how to build an exit team". This is essential and is repeatedly (but appropriately) emphasized by Coffey: there comes a time when you must hire experts to assist with your exit/sale. That's also huge advice for owners, who have typically become successful from their own sweat and expertise. Knowing when to garner outside help it key.

Overall a Good Read.

[T. Laane · Rating 4 out of 5]

I remember getting more out of other books that are talking about Exit plans. But on the other hand, this book is more focused on 10+ million USD deals, not small companies on my level. I ALMOST recommend reading this book, since it is SO SHORT. But yes, mostly if you are into > 10 million USD deals and live in the US mostly. What I do praise about this book is that the author really is in the business of selling and buying companies, does a lot of this. And usually manages to buy companies with 3% growth and turn it into 25% growth yearly (able to sell for a lot better price after a few years). Oh, one trick up his sleeve: he invests quite a lot in company HQ, to give the message and history of the company, a “hall of fame” etc. Not only does this rise the valuation, but also helps to draw and keep top talent, if they can be proud of their company.

[Rustam Eybatov · Rating 4 out of 5]

1. In a perfect world, you start to prepare your business for sale from day 1 you launched it: which assets to acquire & which are not; proper accounting, where you still can optimize taxes, but see a picture more relevant to maximum valuation & so forth..

2. EBITDA is a game & more you understand the rules, better you playing it. Still there is a rules, which you don`t want to break.

3. Buyers for business could be:
- Strategic (expanding their marketshare / clients / assets, they not necessary need a founder in a team: lights off)
- Financial (investing for profit, so they dont want founder to leave: lights on)
- Alternative (search funds, solo entrepreneurs & so on: vary on a situation)

[Russell D · Rating 5 out of 5]

Adam picks up where he left off in the Private Equity Playbook by laying out the specifics of the process when you’re ready to sell your business, as many times as you can! Selling a business does not have to be a single transaction if you have grown to certain levels! Taken together, these books can help you ask the right questions and assemble a team that can help you get where you’re going. Exit planning begins when you begin thinking about buying!

[Caroline Cm · Rating 3 out of 5]

I work in M&A and deal with sellers/buyers all the time so I read this book to see his (seller's) perspective.

This book is a good guide for someone who does not know anything about selling the business. It gives a general overview but not too much content on what actually happens during each stage, how much to rely on the advisors and when to walkaway from the offer. Much of the book content can easily be found in articles.

[Boni Aditya · Rating 5 out of 5]

One of the biggest contributions of this book is the book recommendations of the books written by the mentor of the author.

The author recommended two books.

MOVE- The CEOs playbook for capturing value written by Sandy Ogg
GROW - The CEOs Master Playbook for Coaching Value into existence also by Sandy Ogg

Other than this the author offers a clear plan of action for someone planning to sell a company, he talks about accounting standards, he talks about the finance specialists needed, he also talks about investment bankers required, he talks about tax consultants, and everything else that a buyer is looking for when negotiating and how to turn the environment in your favor.

I loved the way the author offers extreme clarity about the kinds of buyers at your disposal, strategic buyers and financial buyers and at the end of each chapter, he offers a table that would quickly allow you to differentiate between the choices depending on each type of buyers.

This book is a must-read for entrepreneurs trying to take an exit.

[Daniel · Rating 3 out of 5]

*** = was worth the time spent

[Riggs · Rating 4 out of 5]

Teaches about how to sell your business when you are the operator.