How Accountants Can Keep the Business When a Client Wants to Sell Theirs

The four-step process to use when a client asks for an outside consultant.

QUESTION: I have a client who’s thinking of selling his business, and he asked me to recommend a “consultant” to help him get his business in shape to sell.  I am afraid that if he finds someone on his own I’ll lose control of the client. He might end up not selling and I could lose the client. I do not know anyone to recommend.  What do you suggest I do?

Here at CPA Trendlines, Ed Mendlowitz answers some of the toughest questions practitioners can throw at him. He’s the right one to ask. After more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, WithumSmith+Brown, where he remains a senior partner and consultant to professional services clients – he has the answers. We’re happy to have him at CPA Trendlines. Send your questions for Ed here, or chime in with Comments below.

– Rick Telberg
President / CEO

ED’S RESPONSE (including the 20-item checklist, “Preliminary document request for a business valuation”):

I suggest that you decide what is best for the client and proceed that way.  You can find consultants by contacting other CPAs, attorneys or business brokers that work in this area.

However, I also think that this is something where you can probably do most of the work yourself or through your firm.  It is not a magic process, but a four part process.

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