How to buy and turn around a
distressed business or 'roll-up' competitors

On this site you’ll read real life stories of how 23 entrepreneurs find, fix and then sell small companies on the edge of failure. Sometimes we buy our weak competitors in a roll-up and get new clients cheaper by acquisition then organic growth. If you like these concepts, come to the next workshop. Learn how we...

✓  Find distressed companies that are worth saving for capital gains
✓  "Roll-up" your competitors for rapid growth with little cash or risk  
✓  Why buying a distressed business is the BEST way to do a start up

From KC Truby Lonesome Cowboy Publishing Inc. 301 Thelma Drive #426, Casper WY 82609 (760) 207-6385

Six opportunities for Accountants in M&A

By on May 29, 2014

Six opportunities for Accountants in M&A

Out of the 18,000 accountants I’ve met over the past 43 years less than 100 were rich (making >$365,000 a year and a net worth of $2,000,000 or more).

The rest just seem to work night and day to make a good living. Well I think that is plum nuts considering the business experiences we’ve all had over the years. Below are the six reasons you should seriously consider taking your unique skills and knowledge to an opportunity as big as your capabilities.

By the way the 100 who were rich all got that way by buying one of their clients (or other local businesses) who had a good idea but run by an owner that should never be left in the room alone with a check book.

First: You are uniquely qualified to enter this business. You know numbers, financing options, tax implications, people trust you and you like methodical processes for getting things done. Turnaround work is easy and fun for you.

Second: The ‘Buy, Fix, and Sell’ opportunities come across your desk by themselves. Every year you see good ideas being run into the ground by unqualified business owners at tax time. Almost every business owner that is netting under $45,000 a year is thinking “I could get a job and make more money with no headaches” they are interested in an exit. You also see the people without a succession plan and those that can’t pay their taxes. You see these deals first, long before a business broker or bankruptcy lawyer get their hands on the client. Plus other accountants will soon be sending their ‘failing’ clients to you for help.

Third: Your accounting business will grow.

Every business deal needs a valuation report. You may decide to provide that service and we’ll help you get it done right. B. Even if you don’t buy your client after negotiations, you will have many opportunities to explain to the seller your accounting and management services. Many owners do not sell once they list for sale because they fall back in love with their company. These people are likely to become your accounting clients – so they don’t make the same mistakes again.

Sellers want to know if a company they are carrying the paper on is staying healthy, before it’s too late. Offer your outsourced accounting services to every seller as a way to protect themselves going forward.

You’ll even find that business brokers will start bringing you clients in need of ‘fixes’ in their back accounting records, as you become known as the go-to accountant when it comes to packaging buying and selling deals.

Forth: Over the next few years you will meet all the other accounting firms in town. Remember the other accounting firms in town have spill over work or may want to sell their own practice. As part of your ‘buy search’ you will be in touch with every accountant, bookkeeper and tax preparation office in your town as you build your ‘Buy, Fix, and Sell’ business and it will lead to many more opportunities.

Fifth: Within a very short time you will also meet every banker, business lawyer and business broker in town. Build these relationships because they are an immense resource for accounting referrals.

Sixth: Positioning yourself in the Accounting business is hard. It is just difficult to make yourself look unique in the market. Remember the last time you told someone you were an accountant and they immediately started talking about their tax return..? But, announce yourself as “I’m in Mergers & Acquisitions” and the person you are talking to will start asking questions. Those questions set you apart from every accountant in town. In many cases you will not buy the business but will become the consultant that helps the buyer or seller put the financial details together.

Over all, it is hard to imagine how entering the ‘Buy, Fix, and Sell’ arena will not lead to a lot more fun, a bigger practice and an occasional home run that will pay off handsomely. Even if you NEVER put a deal together your accounting practice will grow by leaps and bounds over the next few years just from your new exposure. Even better, prospects WANT to make the deals happen so your phone rings without you making cold sales calls.

To learn how easy this was for Lin and I…

Attend the next two day seminar we’re doing. There you will meet other accountants as well as entrepreneurs, business brokers and a whole host of people who are doing M&A work right now at some level. The most successful though, are keeping the best deals for themselves. Just click on the Upcoming Events button below.

About KC Truby

From their ranch in Wyoming, KC and his wife Linnea have bought or started 21 companies as a side line to their accounting business leading them into M&A as a full time business in 2012. These companies are located all over the Western Rocky Mountains, London and India. Since 1969 through their accounting and training companies, KC has taught 18,000 business owners how to improve cash flow and find more customers by installing standardized systems in their small business. Since 1989 KC has presented over 1,000 seminars and training classes to the small business owner.

One Comment

  1. Allan

    June 3, 2014 at 7:12 am

    I never thought about how the accounting business could grow side by side to the M&A work, great stuff

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