For practically every CPA firm, its coming.
Most firms are opting for to ignore it or kick the can as time goes on until they must deal with it.
There is certainly not that can be done to avoid it.
You can’t negotiate it away.
It are not re-organized or re-structured.
It continues its unhindered march toward their firm and it is effects within the firm will likely be substantial.
I’m surprised that nobody within the CPA firm universe is addressing it or has addressed it.
There doesn’t look like a solution, a technique or a strategy.
Recently it’s got hit the most notable 10 stuff that should be an issue to CPA firms, but surprisingly it was not number 1.
What would it be?
The impending, unstoppable retirement of Baby Boomer Business Owners.
According into a recent study, a lot more than 4 million Baby Boomers will probably be selling or closing their businesses from the next 5-10 years.
And once they do, CPA firms will mislay valuable, difficult to replace clients.
After numerous conversations with CPA Firm owners within the last few months, the smallest % of clients that happen to be Baby Boomers is 25% and also the highest is 70%.
During my conversations, there wasn’t ONE CPA firm which in fact had a plan to exchange or retain Baby Boomer Business Owner clients after they sell their business or close it.
To say I was shocked could be an understatement.
Many on the CPA firm owners said they weren’t concerned about it.
I’m even if it’s just sure things to say.
Losing 25%, as much as 70% of business revenue is a REALLY BIG DEAL!
But there isn’t an idea?
You can’t maintain your head inside sand.
This is going on and smart forward thinking CPA firm owners must be coming up with something to offer the business as being a client when it is sold.
This situation requires different questions to be asked so different answers and solutions are located.
Here are some on the questions that I created:
How can a CPA firm take this and make it more profitable to the firm along with the Baby Boomer Business Owner?
How can a CPA firm add tremendous value for the Baby Boomer Business Owner since they enter this new phase of the lives?
What can be carried out to support the business like a client once it can be sold?
What additional revenue opportunities or services are we able to offer to Baby Boomer Business Owners that they can would appreciate?
How are we able to help them earn more income from the sale from the business compared to they would normally get using fliers and business cards of selling?
How will we help the Baby Boomer Business Owner enhance the value of these business whenever they’ve been running it to get minimum taxes every year?
What include the pitfalls that the clients can have, we can enable them to avoid whenever they sell their business?
Those are only a few from the questions I asked.
Wanna hear the answers I invented?
Reach seem to me at Bret@buskel.com and inquire.
I’ll feel special to share what I’ve produce.
You’re really gonna like how everything ends up!
Bret Mundt would be the co-founder and President of The Buskel Group. The Buskel Group buys businesses while using E5 B.O.T. System. This system appeared by The Buskel Group to aid Baby Boomer Business Owners sell their business at a price they like into a person they choose.
USING THE E5 BOT System, the BUSINESS OWNER SHARES EQUALLY from the UPSIDE POTENTIAL on the business he created until his desired sales cost is met and also the business transitions to us.