In his famous, popular song, “The Gambler”, Kenny Rogers is really saying—you’ve got to know when enough is enough…and you don’t want to over play your hand. It’s about intuition and gut feelings.
It’s not prudent for families to gamble with their most valuable asset, although intuition and gut feelings will always play a significant role in any important decision-making.
When it comes to something as major as the future ownership of a family’s company, it’s imperative to do everything possible to stack the deck.
Since selling our family business in 1994, I spent the next twenty plus years of my life learning the best practices of families around the world, even writing a doctoral dissertation on the subject, to help families stack the deck.
I have developed frameworks and processes that will give families an edge when selling. My book describes them.
Keep in mind that I am a sounding board and coach who helps families get on the right track as they are embarking on the most important and impactful process in their lives.
Jonathan Pellegrin’s book is both a “wake up call” as well as a guide for owners of private companies. Families should be ever mindful that the value of companies can vaporize quickly, therefore it is imperative that the market values of their businesses are monitored regularly. It’s a tragedy for business families to lose a fortune.
This guide will take readers through a disciplined exploration, decision-making and execution process designed to help them understand the issues involved in successfully selling businesses when they choose to do so.