The majority of people have come across an irritating salesperson.
Their techniques typically involve trying to push a sale quickly, which can lead to some very uncomfortable interactions. This is across the board, whether somebody is trying to sell a pen or sell a house. When it comes to successfully selling something that may be near and dear to you, such as a family-built accounting firm, you will need to follow a set process to ensure that you not only get the price that you want but that your firm passes on to the buyer that you want.
So, what are the much-needed steps in this sequence of events? Read on to find out!
Get Legal Help!
Firstly, when you decide to sell your accounting firm, you will need to get legal help. This is to ensure that the entire process is performed legally and that you have a backup should anything go wrong. It’s also a good idea to hire a firm that is an expert in the selling of accounting businesses, as they can attend meetings for you and negotiate on your behalf. So, head to Poe Group Advisors for top-notch legal advice in this area.
Get People Curious
You will need to get people curious about your accounting firm, and this can mean discussing potential selling at networking events or even online. You should always assess the feedback that you receive when you are talking about what it is that your firm has to offer. If people are genuinely interested in a particular aspect of your accounting firm, then this is a good sign.
Next is the answering questions phase. This is when potential buyers will ask you a lot of queries about your firm to get a fully-rounded picture of what they may want to buy. This is another interesting point to observe what it is that the people actually want from your accounting firm, and if one sale falls through, you can push the most queried area forwards to the next potential buyer.
In this stage, you have somebody who has stepped forward and said that they want to propose purchasing your firm. You can now lay out exactly what it is that your firm can offer them, and this is also the stage where the lawyers and legal teams get more involved in the process and begin drawing up potential contracts. It’s worth being as open as possible during this step, as being closed off or not answering any late-stage questions can cause any sale to fall through.
Closing the Deal
Now, onto the final phase! The contracts have been drawn up by your legal team, and it all looks set to go through. It is important to consider that sales may fall through due to no error of your own. If a sale does fall through, you need to begin all these steps again to get the next suitable buyer in line.
Alternatively, if a sale does not fall through and you are happy with the buyer, simply sign on the dotted line, and voila! You have sold your accounting firm successfully.