Chris Field, managing director of Fieldworks Marketing, reviews Gary Morley’s new book on securing an exit.
Chris Field, managing director of Fieldworks Marketing, reviews Gary Morley’s new book on securing an exit.
How to Sell Your Business and Live Happily Ever After, by Gary Morley
‘I admit that I wanted to get straight to the bit about living happily ever after – who wouldn’t? But this is a book about getting there, not being there.
Typically, business owners looking to sell their businesses turn first to their current financial advisers, usually their accountants, but this book is the place to arm yourself with the basics before going into the nitty-gritty.
Like so much in finance, selling your company is about common sense, and Morley provides an abundance of sensible, straightforward advice. He explains how to market the business and so increase its value, and how to choose the best buyer – it’s about staying in control.
The sections on tax are among the best and cannot fail to keep the interest of any reader who does not want to pass on the proceeds of the sale to HM Revenue & Customs.
Clearly, a book from a working practitioner has one sting in its tail: the section in which readers are given a sales pitch on MacIntyre Hudson, for whom the author is a chartered accountant and corporate financier. However, better a practitioner than an academic when it comes to selling your most valuable asset, in my opinion.
Crucially, Morley reminds readers not to be in a hurry. It can take more than two years to sell a business, but it is certain to be worth more than one sold quickly.
In order to decide on exactly when to sell, it also makes sense to look closely at the current economic environment, as Morley himself recommends. Now may not be the best time to exit a business, but there is still money out there.’
