The Most Common Mistake When Selling Your Accounting Practice or CPA Firm
I get this question a lot from principals that are working through the process of exiting their accounting or CPA firm. There are many mistakes that can be made throughout the process, but I will discuss just one mistake that can impact your financial results significantly. Retention Is The Most Common Mistake The One Mistake […]
Common Myths When Selling an Accounting Practice
Selling a CPA practice is typically a once in a lifetime event. This is the culmination of several years (or even decades) of hard work; and after having poured your life into your practice, you want to receive the value you deserve at exit time. Because so few owners have any experience with accounting practice […]
Transition Planning for Family-Owned Businesses
Family-owned businesses are the backbone of the U.S. economy. According to the Conway Center for Family Business, they account for nearly 65% of the U.S. Gross Domestic Product (GDP), and create over 60% of America’s jobs. Family businesses are unique in that they typically depend on the strength, energy and vision of the founder for […]
5 Questions to Ask Before Selling Your Business
Selling a business is a major life decision, and one that should not be rushed. If you are thinking about exiting the business you have spent so much time and effort building, make sure you are ready to sell. Because once you sign on the dotted line and receive the check, there is no turning […]
Increasing the Value of Your Business For Sale
For the past few decades, a single paradigm has dominated most of corporate America: that employee compensation (wages, but also benefit packages and other wage-equivalent items) were an expense to be minimized. But that paradigm is not appropriate for most businesses. If you are a business that wants employees that offer value, you need to […]
The Difficulty in Selling Small Accounting or CPA Practices
Accounting Practices that are less than $150,000 often receive a lower multiple and can be more difficult to sell and transition than practices with more critical mass. While there is plenty of demand for small practices, the cash flow of small firms do not support the incoming principal, the exiting principal, and the cash needed […]
The Importance of Good References when Selling a CPA Practice
When it comes time to put your CPA practice up for sale, you need to do all you can to ensure that you receive top dollar for the business you have spent a good part of your life building. One of the best ways to give your practice a higher valuation is with client references. […]
