Summary of Finish Big

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Rating

7

Qualities

  • Comprehensive
  • Innovative
  • Eye Opening

Recommendation

Consult Bo Burlingham long before the sale of your company and, ideally, even before you start your business. Building a company always includes leaving it. The process of leaving starts the day you open your doors, and should inform every major decision you make and your strategy along the way. While other authors focus on the deal itself, Burlingham takes you through building a sellable business and preparing yourself for life without it. If the blood, sweat and tears of creating a valuable company – one someone might want to buy – doesn’t scare you away before you begin, then hang on for a ride that often gets even more challenging when the time to sell arrives. getAbstract recommends Burlingham’s advice to entrepreneurs and business owners. Whether you want to pass it along to your partners, board members, investors and employees is, well, your business.

About the Author

Bo Burlingham is a writer and editor-at-large for Inc. magazine. His business books include Small Giants: Companies That Choose to Be Great Instead of Big.

 

Summary

Start with Leaving

When Attila Safari sold his event software company RegOnline in 2007 for about $65 million, he joined the ranks of the independently wealthy. Yet his life and his business had been so intertwined that he couldn’t cope with the change. After several unhappy years working for the acquiring company, he was regretful, divorced and poorer – having invested his buyout money rashly. The loss that many owners feel after leaving their businesses can take years to overcome and, in extreme cases, can lead to health issues, including depression. Entrepreneurs tend to operate at full speed. They crave challenges, the excitement of the deal and, whether they know it or not, the sense of purpose their business gives them. The thought of leaving or retiring might never occur to them, yet at some point everyone leaves.

When the time comes, every business owner seeks the best exit possible. For most, that means selling the business at the highest possible price. Despite the initial elation of instant wealth, money alone fails to overcome the likely disappointment and gradual despair that can follow a sale. Some mourn the loss of a culture they spent years building...


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    T. N. 5 years ago
    A great book on how to set up your business properly to sell from start to finish. The risks and rewards involved from the entrepreneurs and investors' perspective to complete a deal during the good and bad time in the market. I really like the "growth potential" and "customer satisfaction's Net Promoter Score" to evaluate a company sellability score.