What To Consider Before Buying or Selling An Accounting Firm with Intermediary Stephanie Smith

What do you need to know before selling your life’s work or buying someone else’s? Learn from Stephanie’s experience as she shares her perspective on avoiding key obstacles during the acquisition and transition process in buying or selling an accounting practice. After working together in the mergers and acquisitions space for more than 15 years, you don’t want to miss out on Brannon and Stephanie's conversation! 

This podcast touched on:

• The importance of having a vision before you sell your CPA firm. 
• Why buyers and sellers need to consider cultural fit before transitioning. 
• Having hard conversations early on to avoid issues in the long run. 

Whether you are considering buying or selling a CPA firm, it is crucial to consider your personal and professional goals beforehand. Knowing what your vision is before leaving your practice or buying a new one is vital to the success of either endeavor. Additionally, knowing what your values are and focusing on finding a cultural fit is key to the negotiation and transition process. Listen to learn more in this episode of the Accountant’s Flight Plan! 

If this conversation inspires you to learn how your firm would fare in the marketplace, please download our CPA VALUATION KEY FACTORS REPORT. 

You can listen to the podcast on the player below or watch the latest episode here! 

Time stamps:

00:34 - Introduction of Stephanie Smith; Poe Group’s most experienced broker.

3:10 - What makes for the most challenging and most enjoyable deals?

10:55 - What you need to do to prepare to sell your CPA firm.

16:12 - Why focusing on fit is key to a successful accounting firm transition.

24:05 - How AI could help the accounting profession.

28:28 - Book recommendation: Crucial Conversations Tools for Talking When Stakes Are High