Having completed hundreds of deals for the sale of closely held manufacturing, distribution, and interesting service businesses over the last three decades, Beacon Equity Advisors’ president, David Humphrey, has identified nearly four dozen ways business owners can improve, enhance and increase the value of their business. Based on both deals which came together, and those buyers walked away from, David identifies areas with slightly more planning, the business owner would have realized a deal substantially richer, smoother, and with better terms than the owner actually was offered.
As a tax lawyer, I'm humbled to say the most effective way to increase after-tax sales proceeds isn't to reduce taxes (although that's nice). It's to maximize the value of the business and fetch a higher sale price. David Humphrey knows this, and more importantly, explains his approach to value enhancement in plain English.
David has created a valuable tool for every business owner. Use this book as a guide to examine every aspect of your business. It will help you fine-tune your operations and achieve maximum value when you are ready to sell.
A must read for business owners! This book has a specific and well-defined purpose - to teach owners how to enhance the value of their business - and it delivers on that purpose in a clear, practical, convincing and entertaining way.
Most owners of privately help businesses have little to no experience in actually selling a business, so you need to read this book. Let David guide you through the emotional pitfalls and operational potholes that chip away at your value as you prepare for the most important transaction in your business career - the sale of your own business!
"Think Like a Buyer" is an excellent guide for owners at any stage of growth. David has filled it with insightful anecdotes and examples from his decades of valuation and M&A work that will help you think like a buyer and get the most value for your business.
Dave uses his more than two decades of experience to simplify the largest and scariest, transaction of a business owners' life, the transfer of his or her business, into digestible, comforting stories. His ability to convey complicated concepts in a non-intimidating manner makes this book a must read for someone beginning to think about the sale of their business.
I've written 6 books myself and know how much work goes into writing book. What impressed me most was its readability for a person not in the valuation field. It is very difficult to write about a complex topic in a way that a person with no knowledge of the field can read and understand. I read another book on valuations & found it a "slog" to get through. Your ability to break down complex concepts into something easily understood was uncanny.
David A. Humphrey, CPA, CVA brings over a quarter-century of experience as a deal maker, business owner, accountant (CPA), and business appraiser (CVA) to the firm’s clients. David has successfully completed numerous multi-million dollar transactions with entrepreneurs, private equity and publicly traded corporations, including one transaction which touched five continents.
In addition to Beacon, David was a partner in Star Engineering, a leading manufacturer of populated circuit boards and wire harnesses for the high tech, military, and medical industry manufacturers.
David believes by telling better stories, owners receive better offers for their business. Business owners know their business inside and out and why their business that has substantial value. Beacon helps the owner tell their story and convey this value to buyers, their advisors, and bankers.
David created the highly successful Pothole Analysis™ program at Beacon, a customized review of 43 aspects of a business an owner can address in the years leading up to an exit to enhance value.
David is the author of the book Think Like a Buyer, a collection of deal stories, tips and advice on preparing a business for sale.