Week 4 will see us focus purely on the financial performance of your firm and your track record to date. We will review key industry benchmarks and work through what you need to do to improve the performance of your business in the lead up to a sale. We will also review the financial wastes that may exist in your practice.

Week 10: Due Diligence

Week 7 focuses on your fees and charges. How will your fee model be perceived by a future buyer? Are they too low or too high and what can you do about it? We will address the 3 times and 4 times rule for setting rate. We will work through the budgeting process, encompassing rates and productivity.    

Key Outcomes:

  • Clarify your firm's history
  • Outine your firms Vision and Mission
  • Understand your Propensity for change
  • Bring together your previous business plans
  • ​Identify clear areas for growth
  • Develop your current business plan

Key Outcomes:

  • Understand industry KPIs 
  • Analyse your financial performance 
  • Know your KPIs and ratios and importantly the
    ones that need your attention

  • Understand the financial waste in your practice

Week 4: Financial analysis

Week 6: Client analysis

Week 12: Sale process

Key Outcomes:

  • Review your business using our due diligence checklist. 
  • Develop a plan to mitigate potential risks
  • Bring together all the required documentation that will be needed during the due diligence process.

Week 10 will walk you through a thorough due diligence process that your business is likely to be subject to as you move into the 'Sale process'. How will justify you justify your higher premium? What are the risks in your business and how can you mitigate them? We will be providing a Due Diligence Checklist for you to complete your own initial assessment. 

Key Outcomes:

  • Analyse your revenue and services
  • What new services could you provide?
  • What strategy, systems and skills need to be developed to implement new services
  • Compare how well your firm is positioned relative
    to your competitors?

In the final week of our program we will drill into the 'Sale Process' and analysing what is required to get the deal done. What are the tips and traps in getting the best outcome for your business? How is this process best managed? What is required to get the deal done? We will work through all these issues and more, ensuring you are well place to achieve a successful sale of your practice.

Week 5 focuses on your services and products. With all the various changes impacting the accounting world, how well is your business positioned for the future? We will analyse your existing and future services and associated revenues. We will also review a competitor analysis framework to assist your firm positioning. 

Key Outcomes:

  • Develop a fully integrated operations and policies manual
  • Develop a list of all tools, processes and business concepts that are unique to your firm
  • ​Review your systems and procedures

Week 11: Terms of sale and funding

Key Outcomes:

  • Complete business assessment checklist
  • Complete personal 'Change Readiness' assessment
  • Identify what do you want?
  • Answer critical questions
  • Understand 'sale ready' status

The 2nd week will address market values and provide a guide as to what your practice is worth. During this process, you will identify key value drivers that will increase value and key business risks that reduce the value of your practice. We will introduce a 'Firm Profile Template', which will provide a structure around the information set that is going to be required to have your firm 'Sale Ready'. 

Week 2: What's your practice worth?

Week 3: Business Strategy

In Week 11, we will review  a variety of key items including: who will buy your practice, non-complete agreements, buy-back provisions, representations and warranties, indemnification, performance of duties, payment terms, funding options, transferability of fees, claw back arrangements and phase-out consulting arrangements

Key Outcomes:

  • Conduct a skills audit across your business identifying any skill gaps and training needs 
  • Identify any areas of 'key man dependency'
  • Analyse how work is bring delegated and reviewed
  • Will there be a 'brain drain' when key people leave?
  • Assess your business using 'balanced scorecard'

Key Outcomes:

  • Analyse the age profile of your clients? What are the risks and how can they be mitigated?
  • Categorise your clients and demonstrate the value each client represents to your firm. 
  • Review your top clients - what else could your firms be doing to add value to these clients?

Key Outcomes:

  • Understand the sale process
  • Developing clear expectations
  • Know what areas you are prepared to negotiate
  • Understanding what is required to get the deal done
  • Have a plan for the 'next step'.

Key Outcomes:

  • Develop a clear strategy around your terms of sale
  • What will be your availability post sale?
  • Will potential buyers be internal or external to
    your practice? 

  • Understand the pros and cons of vendor finance
  • Understand available funding solutions

Key Outcomes:

  • Understand market valuations
  • Identify key value drivers in your business
  • Identify key risks in your business
  • Methodically pull apart your 'Firm Profile'  
  • Develop a plan to maximise value of your practice

Week 9: Systems, procedures and IP

Week 1: Are you ready?

Week 7: Fees and charges analysis

The first week will lay the foundation for the next eleven weeks. We will review our Business Assessment Checklist as well as a personal 'Change Readiness' assessment. We will explore key issues across leadership, timing, goodwill, traps and obstacles, criteria for evaluation new partners / ongoing partners and the need to be sale ready.

Sale Ready Program Outline 
The 'Sale Ready Program' is a 12 module online program, designed to run over 12 weeks, to assist accounting practitioners to become 'Sale Ready'. We will provide a clear understanding of what is required to get your firm 'ready for sale'.

We will take you through a structured program providing the expertise, the knowledge, the tools and the templates to assist you to prepare your practice for sale whether that be in 18 months or in 3 years. Each session builds on the previous session, so it is important you work through the program sequentially.

As the program is online, you have the flexibility to work through the program at your own pace, whether that is over days, weeks or months.

Week 9 focuses on your business systems and procedures. What happens when you or other key people are not there? Of course, the benefits of the your systems and procedures will be ultimately demonstrated in your overall business growth. We will address your proprietary IP and ensure that you are suitably accounting for this asset when you present your business for sale. 

Key Outcomes:

  • Benchmark your fees against the industry.
  • Analyse your fee increases in recent years.
  • Analyse your fee growth over recent years.
  • Calculate your average fee recovery rate.
  • Where are the wastes in your fee recovery? 

Week 3 focuses on developing key components of your 'Practice Profile' in particular, your firms history, your vision and mission. During this week, we will focus on Dissatisfaction * Vision * Plan = Propensity for change. We will also focus on the need to develop a business plan to clarify the firms direction and growth prospects.

Week 8: Key man dependency and skills analysis

Week 6 focuses on your clients, where you will be required to spend some time analysing the age of your client base, the services currently provided and then consider what else could be provided. We will address the 80/20 rule and the 140/20 rule as part of the analysis process. We will present a number of tools you can utilise as part of this analysis process. 

Week 5: Services and product analysis

Week 8 focuses on assessing your organisation chart, your people and skills within the business. We will review the process of a skills audit and what this can reveal. We will help you identify any 'key person' dependency issues and what you need to do to address this issue. We will also introduce the concept of the Balanced Scorecard process to help you assess your business.