Greatest Hits - Hot Mic Discussion: What’s Your Practice Actually Worth?

Today’s show highlights include:    *Distinguishing between inflated numbers and the genuine value of a practice in order to achieve leverage in negotiations.    *A breakdown of the factors that matter and make an impact on the value of a practice.    *The importance of understanding the value proposition of the buyer, both culturally and economically, to determine if it is a right fit.    *How true value extends beyond monetary figures and not allowing money to be the primary influencer when making a life-changing decision.    *An explanation of how there will never be that one “perfect” deal; and instead, discovering perfect deals that fit into what you are truly trying to accomplish for long-term success.    Today’s discussion between Frank, Stacey, and Vince takes a long-term perspective on business valuation, emphasizing the serious endeavor that is buying and/or selling a practice. Understanding the factors that impact valuation in the RIA space is crucial, as is discerning between what price is realistic and what isn't. With careful planning, open conversations, and genuine understanding, both parties involved can maximize the potential success of M&A transactions.