Buy-Sell Agreements for Baby Boomer Business Owners has been available as a Kindle book for about five weeks now. During this short time, the book has received seven 5-star reviews from a variety of readers. I thought I’d share the reviews with readers of this blog.
Really great book. Even though I am a lawyer and a CPA, I learned a lot I didn’t know about buy-sell agreements. This is a user-friendly addition to my reference library. Many of my clients are business owners who are seeking practical asset protection advice. I highly recommend Chris Mercer’s Buy-Sell Agreements for Baby Boomer Business Owners.
If you own a business and have partners of any sort, you need to read this book. If you are an advisor to businesses, you need to read this book.
Buy/sell agreements are not the most fascinating topics in the world until you need one. I’ve called a buy/sell the pre-nuptial agreement for business owners. It’s always better to have agreements in place well before a triggering event happens.
Chris does a great job of spelling out how a buy/sell plan should work and what needs to be part of that agreement. Unfortunately, most business owners don’t deal with at least one of the issues he talks about. Buy this book read it and underline the important parts. Meet with your attorney and then take action to make sure your wishes are properly taken care of if, or better yet when, you need terms in your buy/sell to be triggered.
I have ordered over 80 copies of the book to be sent as gifts to clients and business associates. It is a great marketing piece for both Mercer and your own professional practice of business valuation or succession planning.
The day I bought this book I had set aside 30 minutes to begin reading it. An hour and a half later I found myself completely immersed. Mercer does an exceptional job of making buy Sell agreements accessible, understandable and doable for entrepreneurs. His entertaining writing style is unpretentious, straightforward and long-overdue. A fantastic book that gets business owners to not just think but plan with the end in mind.
The unintended consequences of poorly crafted buy-sell agreements are an all-to-frequent source of dispute and litigation. The author’s presentation of the strengths and weaknesses of alternate pricing mechanisms and comprehensive summary of other essential elements that should be considered and clarified in every buy-sell agreement is very well done. It is a practical resource for both business owners and advisors.
As a professional investor and entrepreneur, I can tell you that this is probably the most neglected area of business planning, as well as the most potentially catastrophic. Having a properly planned and drafted buy-sell agreement in place with your fellow partner(s) is absolutely critical to ensure proper succession planning, operational stability, and to prevent costly valuation disputes in the event you or a partner have a significant life change that necessitates a change in the ownership matrix.
As a prominent figure in the world of business valuation, Mercer is able to help the reader successfully navigate one of the trickiest aspects of putting a buy-sell in place: establishing the methods upon which the business will be valued.
If you own a business, whether you are a baby boomer or not, I highly recommend reading this book. More importantly, I recommend implementing it!
I just finished Chris Mercer’s new e-book on buy-sell agreements for baby boomers. It is easy to read and excellently done. As a tax lawyer and book author who has his own book on buy-sell agreements [It is out!] coming out this month too (from Self-Counsel Press), I take buy-sell agreements seriously and personally, because a poorly drafted buy-sell agreement cost my grandfather his interest in a closely-held business many years ago. The buy-sell agreement is the most important business planning document. Period. Chris’s down-home manner explains what often are complex and even arcane subjects very well. Not only is this book a must-read for all closely-held business owners, it should be required reading for all business advisors too.
Try the book. At the introductory pricing of $2.99, you cannot possibly go wrong. Your purchase of this Kindle book also provides access to a complimentary download of the Buy-Sell Agreement Review Checklist, and the Checklist for Shareholder Promissory Notes.