Note: The following is a guest post written by Ira S. Rosenbloom, CPA, chief operating executive at Optimum Strategies, LLC.
Successful accounting firm merger and acquisition negotiations are not just a function of price and terms. In most cases, it is all about asking the right questions and the consistency of the answers.
As the discussion between the two parties considering a union evolves, a natural emphasis is placed on the financials, but the numbers are the easiest part of the M&A process. The actual questions and subsequent answers are the crucial part of the process. Questions and answers should be free-flowing throughout the process, but being persistent and asking the right questions can usually tell you everything you need to know. Here are some vital matters that should be addressed, when exploring CPA firm mergers and acquisitions:
The conversation between two parties in a potential merger or acquisition should be spontaneous and forthcoming. The more candid the conversation, the better the pathway to the next steps — which are the financial models and requirements. As you approach or continue with a dialogue, emphasize the facts, factors, and concerns that can be captured through the Q&A – it will allow your time to be put to good use, and improve the decision-making process for all sides.
Want to learn more?Rosenbloom will be leading an MACPA program titled “What It Takes to Be Successful in the Current CPA Firm M&A Market” from 8 to 11:30 a.m. on June 6. Get details and register here. Rosenbloom can be reached at firstname.lastname@example.org or (973) 666-1980.
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