GROWTH STRATEGIES

It’s Time to Think about Your Exit Strategy

By

businessman thinking with hand on his chin

It’s never too early to consider your legacy.

By Jackie Meyer
The Balanced Millionaire: Advisor Edition

Building a successful advisory practice is a significant achievement. But have you considered what happens next once you’ve reached your current goals? It’s easy to get caught up in the day-to-day operations and growth of your firm without thinking long-term. However, true freedom and peace of mind come from knowing you have a plan for the future of your business and the impact you’ll leave behind.

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This article delves into the critical topics of exit strategy and legacy. We’ll explore why it’s essential to plan for the future even in the early stages of building your firm, discuss various options for eventually selling or transitioning your business, and get you thinking deeply about the legacy you want to create. Planning your exit isn’t about wanting to quit – it’s about building a business that’s a valuable asset and ensuring your hard work carries on according to your wishes.
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Be Open to Unexpected Opportunities

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gift box wrapped in dollar bills and red ribbon

Good things can happen in surprising ways.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

My friend Al is a sole practitioner with seven staff members and a thriving audit practice, besides the typical tax and small business tax clients.

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He is getting older, and while he has no plans to retire and is actively trying to grow his practice, he periodically meets with larger firms to see if there is an interest in acquiring his practice when that day comes. By doing this he stumbled on a fantastic business development formula.
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