Acquisition/Acquiring
There are three
methods of growing your practice. Which of the following three is most
attractive to you?
a) One client at a time
b) Develop a
marketable niche
c) Acquire a practice
You know that growing your practice one client at a time
is usually slow and expensive, unless that client is a referral. Developing a
marketable niche is a good business practice but again, developing niche
clients takes time, significant effort and usually a financial commitment
without necessarily receiving a predictable ROI. Acquiring a practice is
the quickest and most effective method of growing your practice.
As experienced merger, acquisition, transition and
succession consultants we have heard just about every horror story. Most
acquisitions that did not produce the expected results could have if there had been a
complete understanding of the necessary groundwork, the unique due
diligence process, the total deal structure and agreement regarding both "pre and
post transition" responsibilities of both the buyer and the seller.
Can you list the 50 most important considerations/components
for a successful deal?
If not, it will be "Buyer Beware!"
The information provided here will set the foundation for a successful
acquisition. Those interested in acquisition, use the
"Ask the Experts"
program (it is free for members of IAAM) or contact Accounting Transition Advisors,
as there may be current acquisition opportunity in your area:
