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If They Can Sell Pet Rocks Why Can't You Sell Your Business (For What You Want)?

A valuable resource for business owners and entrepreneurs at any stage of the selling process.

Martinka (Buying a Business That Makes You Rich, 2013) provides a comprehensive plan for selling one’s company, with a focus on preparation.

The book’s opening provides a general overview of the reasons to sell a business. In it, the author explains that owners should set up a company with a future sale in mind—even if they don’t plan to sell it soon. Martinka then delves into his thorough program for preparing a business for sale. First, he talks about acquiring other companies to quickly grow one’s business; then, he covers the basics of due diligence and what sellers should expect from the process, particularly regarding specific financial details. The book then touches on how to manage growth, providing information on determining a company’s organization, assessing a business’s true value beyond its simple financial statements, and factoring in the importance of employees and company culture. After breaking down valuation and potential loopholes and surprises, Martinka describes the selling process itself and what sellers can expect after it’s complete. As he mentions in his introduction, many books focus on the actual selling process, but few provide much information on how to prepare for a future sale. This book makes up for that lack with many tips and suggestions that owners may use for several years beforehand. Not only do these procedures make one’s business more salable, he says, they can also make it more profitable. The book also includes several helpful guest essays about technical aspects of selling a business, but the fact that he includes the authors’ contact information gives the odd impression of advertising in the middle of his book. If the author had moved this information to one of the appendices, it might have made for a smoother presentation.

A valuable resource for business owners and entrepreneurs at any stage of the selling process.

Pub Date: July 7, 2014

ISBN: 978-1495478253

Page Count: 288

Publisher: CreateSpace

Review Posted Online: Oct. 27, 2014

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THINKING, FAST AND SLOW

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 3, 2011

Kirkus Reviews Issue: Sept. 15, 2011

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THE CULTURE MAP

BREAKING THROUGH THE INVISIBLE BOUNDARIES OF GLOBAL BUSINESS

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

A helpful guide to working effectively with people from other cultures.

“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

Pub Date: May 27, 2014

ISBN: 978-1-61039-250-1

Page Count: 288

Publisher: PublicAffairs

Review Posted Online: April 15, 2014

Kirkus Reviews Issue: May 1, 2014

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