Finding the Right Buyer for Your Firm How will I find prospective buyers? Will my employees have a job after a sale? Will my clients be well taken care of by the new owner? • Will I choose the right buyer for my business? How will I be paid for my business? As you can … Read moreNavigating the Path to Success
Selling your firm is complex. Whether retiring or selling your firm to pursue other interests, there are many decisions to make when placing your business on the market. Working with a Certified Business Intermediary (CBI) during the process will allow you to benefit from their knowledge and experience. Following are 5 reasons you should use … Read more5 Reasons You Can’t Afford Not to Use a Broker!
In our final part of this series on emotions, we will conclude with the emotions of Pride and Satisfaction. Another emotion commonly experienced by sellers is pride. The word pride usually evokes a negative connotation; however, there is a positive form of pride. Pride in a job well done. Pride in the fact that a … Read moreThe Emotional Side of Selling or Buying a CPA Firm-Part 4
We have been discussing the emotions surrounding the sale or purchase of a CPA firm or tax practice. We have addressed the emotion of fear. The next emotions we will address are Excitement and Sadness. Sellers will generally vacillate between these two emotions often. As excited as they are about the possibilities of enjoying retirement … Read moreThe Emotional Side of Selling or Buying a CPA Firm-Part 3
As the “Part 2” of our discussion on emotions sellers and buyers experience, we will start with the emotion of fear. In the context of selling or buying a CPA firm, all parties experience fear in most phases of the process. Fear, if not addressed, can cause us to totally shut down. A seller and … Read moreThe Emotional Side of Selling or Buying a CPA Firm-Part 2
It does seem odd that something you cannot see, feel or taste can have value, but intangibles, in certain instances can have great value in a sale. We can all relate to hard assets such as land, buildings, cars, or equipment, but intangibles just are very warm and fuzzy. Trademarks, patents, copyrights, and goodwill are a few examples of intangibles … Read moreIntangibles. What Makes Them Valuable?
Are you ready to make a change? Does selling your firm seem like an overwhelming task? Use these six steps to assist you in navigating through the process. 1. Explore your options. You must decide what is best for you: sell, merge or close your doors. Each option has pros and cons with the value … Read moreSix Steps to Success for Selling your Practice
Time is a funny thing. We all think a year is a very long period of time. However, it is the first week of April 2016. Christmas just seems like a couple of weeks ago and I have already planned most of my year! We hear lots of opinions in the marketplace about the most … Read moreSelling in 2016? It’s Time to Get Started!
Paul Clitheroe, President of the Financial Planning Association of Australia once said: “For many people a job is more than an income — it’s an important part of who we are. So a career transition of any sort is one of the most unsettling experiences you can face in your life.” After watching over 175 … Read moreJust Try to do Nothing and See What Happens!
There will be three time your business CAN be sold: when you WANT to sell it, when you NEED to sell it, and when your heirs WILL sell it! We all like to think we are in control of everything in our lives but we have all known people that have had a “plan”, only … Read moreSelling your business. Is it really your choice?