The Art of Selling Your Accounting Firm

The Art of Selling Your Accounting Firm (interview with John Warrillow)
John Warrillow is the best-selling author of Built to Sell: Creating a Business That Can Thrive Without You, The Automatic Customer: Creating a Subscription Business in Any Industry, and The Art of Selling Your Business: Winning Strategies and Secret Hacks for Exiting on Top. But before becoming a writer, he ran his own business and thus is well versed in what it takes to maximize value in your business to prime it for potential buyers.
In today’s podcast, John explains some of the key points to readying your firm to sell, the importance of niching, how to productize, and why adding value before selling is essential to getting the offers your business deserves.
Resources
John’s website - learn.builttosell.com/growing...
John’s books - builttosell.com/the-books/
Contact Built to Sell - builttosell.com/contact/
Free gifts - builttosell.com/growing
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[@brunofey5142]

I've been watching some of your other videos, and it's great to see someone talking straight, no bullshit, no over selling, about a topic as complicated as client capturing and organic growth. Thanks again.

[@DreamFirms]

Awesome Video David, loved being on your podcast! I recently covered this topic myself over on our channel but loved this conversation!

[@brunofey5142]

Great video! Very interesting insight about growth and expansion. Thanks for sharing the knowledge.

[@davidcristello4305]

Of course! And we appreciate the kind words!

[@bruceclark8333]

John made some very good points but missed some really key important ones. Having sold over 1000 accounting firms nationwide here are a few points I’d like to make. First private equity is already in the market and spending huge sums of cash. I know having personally sold numerous firms to several different PE firms over the last three years. Next I didn’t hear much about the importance of profit margins which is one of the main drivers for valuing a firm. And lastly the importance of profits cannot be understated. If one firm putting 50% to the bottom line and another similar type firm is only making 30% clearly the one making 50% is worth more money. Most of the sales I’ve been involved with over the past 5 yrs have sold for between 1.2 to 1.4 times GAB. My PE buyers are paying 3 to 5times EBITDA. And I just sold one firm in Brooklyn NY that’s was netting 65% for 250% cash at closing. That’s 9mm dollars!! Bruce Clark CEO New Clients Inc

[@Jetpackworkflow-software]

Thanks Bruce! Great context and appreciate the comment!

[@bruceclark8333]

@@Jetpackworkflow-software Thanks Dave, I hope all is well with you. You shound invite me on your show to discuss the seismic changes that are occuring in the accounting sales marketplace with PE firms buying up practices. I think it's a topic your viewers would appreciate.