{"id":56603,"date":"2018-12-14t12:00:17","date_gmt":"2018-12-14t17:00:17","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=56603"},"modified":"2018-12-16t15:48:01","modified_gmt":"2018-12-16t20:48:01","slug":"6-ingredients-for-firm-value","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/12\/14\/6-ingredients-for-firm-value\/","title":{"rendered":"6 ingredients for firm value"},"content":{"rendered":"
<\/a>should you merge? what can you offer your people? by domenick j. esposito<\/i> i am often asked two questions by small and midsized cpa firms:<\/p>\n more on strategic planning: <\/b>4 ways to add $100,000 in new business fees every year<\/a> | 8 steps to small firm survival<\/a> | 10 roles of an executive committee<\/a> | why do we accept poor new business results?<\/a> | the link between strategy and winning on value<\/a> the answers to these questions, of course, depend on a firm\u2019s particular facts and circumstances and one size does not fit all. nevertheless, i am happy to share my perspective based on best practices. \u201cwillingness to change is a strength, even if it\u00a0means plunging part of the company into total\u00a0confusion for a while.\u201d<\/p>\n \u2013 jack welch<\/p><\/blockquote>\n a firm needs a number of ingredients to create significant value. presented below are arguably six of the most important:<\/p>\n let\u2019s say you can get all of these components working for you and you can significantly enhance the value of your firm. now comes the tough question \u2013 should you sell, or should you stay independent?<\/p>\n it\u2019s my view that you should sell to a larger firm if you believe that a bigger brand and a more developed platform will provide your people the opportunity to grow professionally and to exponentially improve their earnings potential. on the other hand, i believe you should stay independent if you have a huge runway with talent, age demographics and a history of steady organic growth. with that mix of positive factors, you probably can get larger and more profitable and that translates into even greater value somewhere done the line.<\/p>\n in conclusion<\/strong><\/p>\n it is not easy to stay independent these days as organic growth is hard to come by and strong, quality partners are not easy to find and develop. nevertheless, it can be done and is in fact being done by many of the top 100 firms today. paying attention to the six factors above will help you create significant value for your firm.<\/p>\n if you can achieve success with these factors and you have a huge runway ahead, my best advice to you is to stay independent. if, on the other hand, you are a bit concerned about the future, even though you have created significant value for your firm, \u201cplan b\u201d \u2013 merging up \u2013 might be a very viable option for you.<\/p>\n","protected":false},"excerpt":{"rendered":"
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