Dealing with Brokers
It’s not always easy to tell if what a person says is accurate. To a point, we have to accept what we’re told…take that “leap of faith”. Once upon on a time, when I had a CPA practice, I knew that the clients really couldn’t judge whether or not I was a “good” CPA. All they knew was that I had the certificate and, if they went with me as a client, they would soon enough find out if what I told them was true, both about me and about my practice. We’ve had a couple of blog posts about Brokers, but here’s a little parable which I thought you might enjoy…a Devil of a Time.
A man died and went to heaven. After a length of time in utter tranquility, he expressed out loud that he was a little bored. Immediately, the devil appeared and offered to show him around his place, no strings attached, of course. The man said, “OK, I’ll take a look”.
So, they took the express elevator down below where the man was absolutely amazed. There was singing, dancing and absolute merriment. Everywhere there were tables of fine food and exotic (but tasteful) entertainment. His response, “Wow, I didn’t think it would be like this. Sign me up! This is where I want to be. The devil said, “In all fairness, I want you to think this over. So, we have a three day waiting period. If you still want to join us, just give an out loud expression of your interest and I’ll come and personally pick you up, have you sign a little paperwork and bring you back. How does that sound?”
Well, three days later, the man made his decision. He’d had enough of the quiet, the peace, and the tranquility. He wanted a little merriment. As promised, the devil appeared, had him sign on and took him down below.
Once there, the man found nothing but wailing and weeping, large fires making everything very hot and a gray overcast that looked as though it would never go away. In short, the whole scene was a real downer.
“What happened?” he asked. “Where’s the happy place you showed me three days ago?” The devil replied, “three days ago you were a prospect, today you’re a customer.”
The moral: Be careful of what you think is being promised to you.
(This blog post was written by Rick Harrison, ProHorizons.)
ProHorizons is a national brokerage and consulting company focusing on accounting practice sales, acquisitions, and business development services since 1995.Our blog is focused on three aspects of our experience: our first hand knowledge of the various layers to completing a successful transaction; the trends, changes and shifts in timing in the M&A market; and, our goal of assisting practitioners in developing long-term value so they realize maximum return when it is time to exit their practice.