One of the frequently asked questions we receive from accountants, CPAs and EAs we talk to about selling their firm is: How do I know when it’s time to sell (or shut down) my accounting firm?
Everyone is different but here’s a rule of thumb or in this case a baseball metaphor to help you decide.
If you start to THINK these types of thoughts or EXPERIENCE these types of situations, use the “3 Strikes and You’re Out” rule to help you come to the conclusion that it is time step away. Here’s some examples:
– I’m tired of working 65 hours a week during tax season.
– I can’t find & keep good staff to do client work.
– My spouse wants me to spend more time with our family.
Now one or two of these thoughts or situations happening every so often, or even all the time, can be ‘normal’ for most business owners and especially accountants. But if you get 3 or more – hence the 3 strikes rule, then for your own health and well being (as well as the people around you) it may be TIME to step away from home plate, sell your firm and retire.
I recently wrote an article on this topic that you can read at the link below or in the description, that you’re welcome to read titled ‘For The Right Price Would You Sell Your Firm”:
https://acctsales.com/for-the-right-price-would-you-sell-your-firm/
If you’re interested in talking about your situation and would rather SELL your firm vs just shutting it down, feel free to give me a call or use use the scheduling link in the video description, to book a time to talk.
Thanks, Jeff Bell – 317-674-3335 call or text
https://acctsales.com/broker/jeff-bell/