Finally, by always running your practice like it’s up for sale, you create efficiencies, produce better output and hone expertise. Sellers aim to get the best price for their practices and if you build preparation into your culture, you will reap the rewards well before you ever put your practice up for sale.
The prospect of preparing for due diligence can be overwhelming, but you don’t have to do it alone. In addition to key stakeholders within your business, involving an attorney can assist with preparation. Attorneys will be able to identify the types of materials that are frequently requested as part of due diligence and can help identify high-risk areas within your specific practice area. Armed with a plan and some partners, you will be well on your way to a successful sale.
Emily Johnson, JD, is a nationally recognized attorney, author and speaker with McDonald Hopkins LLC. Email her at [email protected].
