Episode 021: How To Sell A Practice Tips For Success with Rebecca Smith

The CPA Marketing Genius Podcast

Aug 26 2022 • 18 mins

[00:01 - 03:12] Opening Segment

  • Salim Omar, CPA introduces Rebecca Smith!
  • She tells her reasons why firm owners decide to sell their practice
    • Retirement
    • Divorce
    • Illness

[03:13 - 06:46] How To Sell A Practice: Tips For Success

  • Rebecca discusses concerns for both the seller and buyer when it comes to the timing of selling a practice
  • When is the right time to sell a practice?
  • Factors to consider when selling a practice:
    • Political
    • Economic
    • Industry changes
  • Best case scenarios for a turnkey practice
  • Staying involved after selling a business
    • Training
    • Transitioning the buyer into the new setting
  • Benefits of having a business broker when selling or buying a business
  • A business broker can help manage the communication process without the emotional component

[06:47 - 09:33] Closing Segment

Connect with Rebecca on her:

Website: Rebecca Smith

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Tweetable Quotes:

“The cool thing about firm sales transactions is that everything's negotiable.” - Rebecca Smith

"Selling a business and buying a business is a highly emotional transaction." - Rebecca Smith

“It really requires that person who's going to take the time, the competence to really understand, the care, the interest, the desire to help them, and really end with a transaction that is amicable for all involved.” – Salim Omar, CPA