By Ira Rosenbloom
Many CPA firms go into merger conversations thinking that, because they have done deals before, they can do what they’ve done in the past. But in this Covid-impacted economy, the tolerance for risk is low—and changing day-to-day.
MORE IRA ROSENBLOOM: Seven Smart Ways to Make This Your Best Tax Season Ever | Eight Steps for Re-engineering the Role of Managing Partner | Ten Steps to a Better Tax Season | Feeling the Urge to Merge? First, Consider the Angles
We're seeing every day how much the pandemic can impair and alter both daily life and business fundamentals, so the more efficient you can be in getting ready for a merger, the better. These days, you need to move fast or risk losing out.
Here are some recommendations crucial for getting both buyers and sellers properly prepared for their next step in M&A negotiation.
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About the Author
Ira S. Rosenbloom, CPA (LR), is the chief operating executive (COE) of Optimum Strategies LLC, a niche CPA practice succession and management engineering firm that specializes in mergers and acquisitions (M&A), succession plans, and other transition measures that focus on M&A-readiness, realistic valuation and market expectations, deal structuring, and integration processes designed to maximize client and staff retention.
A well-known and respected leader in the accounting community across the mid-Atlantic region, Ira is known for his ability to motivate internally and externally for strong bottom-line results.
Before founding Optimum Strategies in 2010, Ira served as managing partner of a mid-sized regional firm, practice director for a national firm, and as a regional partner in a national CPA M&A advisory firm, among other positions. He has served in important professional leadership positions as a member of the AICPA Management of Accounting Practice Committee and the Board of Trustees of the New Jersey Society of CPAs (NJSCPA). In demand as a speaker and author, Ira regularly contributes to industry and general business associations, publications, and websites, including MACPA, PICPA, VSCPA, Accounting Today, and Philadelphia Business Journal.
Ira graduated cum laude from New York University with a Bachelor of Science degree in Economics and received his Master of Science degree in Accounting with honors from Northeastern University.Click here for more by Ira Rosenbloom