We are often asked when is the BEST time to sell?
Like all good questions there is no right answer! Perhaps it is in the New Year when we have got time to look at our goals and aspirations and can give the time to getting our information up to date and correct.
Or maybe it is when the work heat is on and we can show impressive numbers of new clients to a prospective purchaser?
In reality of course YOU choose when it makes sense to sell!!
One of the things that constantly amazes me about the Accounting profession, is the reluctance of practitioners to consider retiring. As you know, our agency is the only Brokerage firm working exclusively in the Accounting Profession. We see this all the time on a daily basis and it is a major problem with many Accounting firms.
We are constantly bemused when we get practitioners coming to us who have seemingly all of a sudden decided that they want to sell. When we advise clients to consider selling, we always tell them that it is a careful process and the decision should take a period of time.
When it comes to selling, transparency is key.
This may seem obvious, but recently we have had several cases where information that is provided in the early stages of a listing did not match the reality – only to be discovered when the purchaser was carrying out due diligence.
Will your Christmas be a HEARTACHE, HEADACHE OR A JOYOUS ONE?
Will you be going into the Christmas BREAK with a clear conscience?
Christmas is looming and you a have a pile of work to get through so you can close down – for a few days at least – with a clear conscience??
Lots of work to get out the door and also lots of fee accounts to be processed and at least some, to be paid BEFOFE you close!!
Today the burning question is: Why do vendors procrastinate?
We are constantly having discussions with POTENTIAL vendors who can’t seem to make up their minds whether or not to sell.
Now we know that your practice is unique as are you
We are constantly being asked ‘how much is my/our practice worth?’ Of course, the answer is ‘how much a buyer is prepared to pay’. Yet, this is a cop out answer!
Can you all remember the different ways we were taught to value businesses? Net Assets, Goodwill as a function of so many years profit etc. The list goes on and on.
Well at long last the Commonwealth Games have finished and we can all get back to some sort of normality and get on with the new financial year, or over it.
One of the things that has baffled many of us over the years, is the ‘x’ factor when it comes to success in business.
I know you will and certainly we have had the chance to get to know a vast number of business owners. Some good, some bad, some succeeded, some didn’t.