The Exit-Strategy Playbook: The Definitive Guide to Selling Your Business Hardcover – Import, 18 August 2021

I owned a middle-market, nationally recognized company. After reading Adam Coffey’s first book, “The Private Equity Playbook” I gave it a rave review and it became a Best-Seller. Now after reading “The Exit Strategy Playbook” I regrettably realize how much I left on the table at exit. This is no bloated, confusing book on the subject. Coffey is the master of essence. He knows how to squeeze the orange and get every last drop out of it. The book is only 200 pages long-but what content! No matter what the size of your earnings, you will find that “The Exit Strategy Playbook” can be customized to your size and gives a roadmap to the best possible exit strategy. As CEO for three private equity national service companies, Coffey’s “Buy and Build” strategy has led them to exponential growth. He has bought and sold more than 100 companies ranging from $1M to $1B in earnings. His mantra for exiting is Plan Ahead. The heart of his exit book is divided into four parts. There is so much great content that I can only touch on some of the highlights.Part One: The Universe of Buyers and Exit StrategiesCoffey begins with a simple question, “Lights on or lights off?” He explains the different between strategic buyers, financial buyers and alternative selling approaches. (The range of possibilities is probably larger than you would think). Coffey’s “smart sale” matrix provides of profile of you and your company. This is followed by advice based on your earnings.Part Two: Prepping Your Business For SaleThis actually gets to the heart of the matter-how you present your company to various possible buyer groups which is critical. This section includes financial reporting; outsourcing; legal; serving up EBITDA; (terrific); cash vs accrual GAAP; the reasons to spin off real estate holdings; aligning operations; successor planning; and growth trajectory.Part Three: Build Your Advisory TeamCoffey strongly advises building an outside team because this is what you will probably face from a qualified buyer. The team for a large company would consists of tax advisors and accountants; lawyers; investment bankers/transaction advisor. For a small company this might only include a financial advisor and legal. In either case, this is a cost containment method and complete control by your company.Part Four: The Sales ProcessThis final part of the book is so tightly woven that it would require a separate review. Coffey casts a wide net and an interesting approach to fill the top of the funnel with buyers’ interest. He leads you down the funnel section by section to the final sales. Among the areas of emphasis: need for transparency; qualification from of response from your internal and external teams; NDA; CIM/CIP; the fireside chat; questions for all types of potential buyers; how and where to schedule internal and external meetings; diligence; letters of intent; rollover of existing and second income streams—plus so much more.From the owner of a small company or profession, this book is a treasure-trove of information. If you own larger company, this book is not just reference tool, but a new, valuable perspective from someone who has been there and done that with great success. One thing for certain, if Coffey keeps coming out with books like his first two, he will be known as the “go to” person to separate the wheat from the chaff to make sense of the ever-evolving world of business.Highly Recommended

As in the Private Equity Playbook, this book gives us the strategies to get the very best value from the sale of your business in an a competitive and often complicated world, this book gives you the heads up you need, who with, why & how this should be approached. Even if you are not selling you will need the priceless information in this book to exit with the best deal possible.

Like his other book, Adam keeps it digestible by common standards. No fluff. He presents his wisdom in a well thought out manner. A page turner about Private Equality.

This book is a must if you plan on maximizing your exit. Why would anyone go through this process without guidance knowing it could cost millions by not knowing how things work? Having basic knowledge about stock vs asset sales, trailing liabilities, true ups and lights on/off game plans is priceless. Adam did a fantastic job on overviewing these topics. I was so impressed I juts emailed his webpage about consulting guidance during our exit. A must read! And…..Thank you for your Service to our country Sir!

Even if you think you want your progeny to take over, read the book. Even if you think your business is too small, read the book. Adam writes this in language every entrepreneur can and should understand. Read the book!