The two most frequent times for firms to address merging, acquiring, or selling are right after busy season and right after the summer in advance of next season. So now, with tax season in the rear-view mirror, it is highly common to have the “urge to merge.” This urge can be great if you have the discipline to orchestrate a deliberate and controlled process. But without a process, the urge, much like any other emotional reaction, can bring unwanted consequences.
As you explore your options, here are five crucial steps to ensuring that urge is balanced by prudence:
If you are serious about the upside of doing a deal, you will likely find the spring-summer months to be the optimal time to lay it all out. You’ll have plenty of lead time and all parties can be ready for the next busy season … and the next time the urge strikes.
Want to learn more?Ira Rosenbloom will lead a program titled “Imperatives for Succeeding at Transitioning CPA Firm Ownership in Your Region” from 9 a.m. to noon on May 24 at Johns Hopkins University in Montgomery. Attendees will learn how to accomplish the right transition for their firms – whether it be internal or external. Get complete details and register here
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