The Best Succession Plan is to Build a Better Accounting Practice

The easiest practices to sell, and the ones that get the best multiples, are the most focused and profitable practices. That statement is quite obvious, but it is often a forgotten truth when it comes to succession planning. There is a lot of buzz going on in the profession about the need for succession planning […]

Buying and Selling an Accounting Practice is a Lot Like Dating

We often tell buyers and sellers that the process should feel somewhat like dating.   After all, it is the beginning of an important new relationship.  As with many key relationships in life, you may have to kiss a few frogs before finding your prince or princess.  You might meet a few people that look great […]

If It’s Not Going to Work, Find Out Fast.

I recently had a deal collapse that showed great promise at first.  It was disappointing, but after reflecting on this particular deal, some important insights became crystal clear. From the time the buyer and seller first spoke, until the time it became clear that the deal wasn’t going to work, only took a few days.  […]