Want to buy an accounting practice but don't know how to get started?
April 01, 2024
by a professional from The University of Texas at Austin - Red McCombs School of Business in Austin, TX, USA
Because few deals come on the market during tax busy season (Jan to April), now is when you prep. Here are 8 critical prep steps:
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Get your website ready
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Get your personal financial statement ready
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Get clear on 5 reasons a seller would want to choose you out of all the buyers
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Define your target: revenue, SDE/EBITDA, headcount, number of managers, type of work, geography
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Now team to help: Get some interns; hire contractors abroad. Don't make this a one-woman show. Practice inspiring and managing people with mixed feelings about you. That company you buy will have mixed feelings about you for weeks, months, or years — get used to it.