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.
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.
As we are approaching the festive season, we are coming across more Practitioners/Partners looking to sell or at least wanting to start an exit strategy, which should have been in place many years ago.
Practitioners who haven’t given a lot of thought to an exit strategy are now realising decision time is rapidly coming closer.
Run your mind around the following concentrations of risk:
Good afternoon Practitioners,
In retirement one has plenty of time to think about life in general (particularly when I am not playing golf!!) and one of the constants that I ponder is why we, as a profession, seem so reluctant to let the reins go??
I have spoken to hundreds of practitioners, from one man bands to partners in multinational practices, and the constant that I came across was this reluctance to go!!