{"id":82882,"date":"2021-04-08t12:00:25","date_gmt":"2021-04-08t16:00:25","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=82882"},"modified":"2021-06-01t06:56:05","modified_gmt":"2021-06-01t10:56:05","slug":"the-9-biggest-merger-pitfalls","status":"publish","type":"post","link":"\/\/www.g005e.com\/2021\/04\/08\/the-9-biggest-merger-pitfalls\/","title":{"rendered":"the 9 biggest merger pitfalls"},"content":{"rendered":"

\"number<\/a>plus 10 common criteria. how do they compare to your list?<\/strong><\/p>\n

by marc rosenberg<\/i>
\n
the rosenberg practice management library<\/i><\/a><\/p>\n

in all industries, it\u2019s always more difficult to find sellers than buyers. this is certainly true with accounting firms.<\/p>\n

more: <\/b>the managing partner\u2019s role in mergers<\/a> | how a great managing partner impacts firm growth<\/a> | compensation is no way to manage partners<\/a> | clarify partner expectations<\/a> | exceptional managing partners offer their advice<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>
log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

cpa firm merger consultants and brokers can do a great job finding buyers, but they are limited in their ability to dig up sellers. this is because the vast majority of all mergers and sales take place when buyers and sellers know each other and get together on their own without the help of a consultant.
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\nhere are the most common ways that managing partners identify seller candidates:<\/p>\n

    \n
  1. active buyers constantly meet with potential seller candidates. only one of 10 merger discussions results in a merger. the other nine sellers either are not ready or don\u2019t meet the buyer\u2019s criteria. the key to finding merger candidates is having the proper mindset. serious buyers understand that doing mergers is all about planting seeds. a winning merger strategy must demonstrate patience and persistence. keep reaching out to firms. keep talking to firms. keep following up as time moves along. understand that a \u201cno\u201d may really be \u201cnot now.\u201d<\/li>\n
  2. telephone firms you know in your target market. invite them to lunch and see if they are willing to have a merger discussion with no commitments or obligations after the meeting.<\/li>\n
  3. do a direct mail campaign to a mailing list that you compile of possible merger candidates. follow up with phone calls.<\/li>\n
  4. hire a merger consultant. the cpa profession is fortunate to have a half-dozen or so savvy, nationally known consultants with many years of experience who help firms with practice management, including mergers.<\/li>\n<\/ol>\n

    develop criteria for a merger partner<\/strong><\/p>\n

    the managing partner should begin a merger push like any other major business decision: it should be well thought out. homework and research should be done, and input from the partner group should be sought. some firms shoot from the hip with merger pursuits, but this can be a recipe for disaster.<\/p>\n

    here are common merger criteria that firms consider:<\/p>\n

      \n
    1. which do you prefer: retirement-minded sellers or younger partners who will help drive your firm? or are both ok?<\/li>\n
    2. if you are ok with retirement-minded sellers, how long will you allow them to keep working? it\u2019s critical to decide this up front to avoid tremendous bitterness and conflict later.<\/li>\n
    3. services provided and industries served by the seller:<\/li>\n<\/ol>\n