A Practitioner's Guide
Most practitioners spend decades building a practice — and then leave money on the table when it's time to sell. Written by practitioners for practitioners, this step-by-step guide walks you through every phase of the sale process, from the decision to sell all the way to what to do with the cash. Whether you're planning ahead or need to move fast, this is the only guide written by someone who has actually been through it.
Chapter 1 — The Sell Decision Phase
"Time has moved on; the practice prospered, and you have come to the realization that you are no longer just beginning, but ending, your practice. It is time to sell and move on. Unfortunately, most practitioners were so busy setting up their practice that they neglected to do the one thing that every MBA is taught — 'Never begin an enterprise without having an exit strategy.'
After working hard and developing a business into a mature profitable machine, there are only two reasons anyone would sell. First, because you have to — and second, because you want to. You never want to be in the first category.
The real reason anyone would sell is that this is your payday. All other paydays the owner gets paid last. The only real payday for any business owner is to sell — to cash out on all their hard work and make your worthless stock worth something."
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