Taking risks is part of the entrepreneur's job—but that unpredictability should end when it comes to selling the business you've built, says editor Louis P. Crosier, a Principal at Windward Investment Management. This book, with contributions from consultants, professors, and practitioners, is more a personal finance guide for entrepreneurs than a nuts-and-bolts primer on selling off a business.
The practical advice begins with before-sale strategy and planning. What are the implications for your personal fortune from your decision about how to structure your company? Does your exit strategy consider how to transfer wealth to family members?
But the bulk of the book is devoted to your life after the sale, and, in particular, how you handle the money you make. A particularly helpful chapter deals with "the psychology of a windfall." A sale, the book states, "encompasses more than a successful transaction and the creation of a windfall. It becomes a major transition in your life and the life of your family." In other words, your worries may just be beginning with an agreement to sell. —Sean Silverthorne