How to Know if You Are Ready to Buy a CPA Practice
Are you thinking about buying a CPA practice? Would you like a tool to assess your readiness?
We developed just such a tool and called it our Buyer Scorecard. We took our database of buyers and pulled out the people who had been especially successful.
We got together as a team and asked ourselves:
1. What are the common characteristics of these people?
2. What are the attributes that seem to be the drivers of success?
From these two questions, we came up with 8 attributes of successful CPA firm buyers; and from this eight we developed our Buyer Scorecard.
This is a self-assessment tool, you take each of the 8 attributes and give yourself a score from 1 to 12. The beauty of this exercise is that it’s going to do one of two things: it’s either going to help you identify areas where you need to improve and give you things you need work on in order to buy (we’ve seen people inquire about a practice and not buy for 3 or 4 years because they aren’t quite ready, they just didn’t have the skill-set needed), or, you may do really well on this scorecard and say, “I’m ready to buy!” and this tool just gave you the clarity and confidence to go forward.
Ready to get started? Get your FREE Buyer Scorecard.
We hope you find this to be a valuable tool, and it gives you insight on your journey!