{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Why Most Firms Get Their Valuation Wrong w\/ Tim Brackney","description":"Welcome to another episode of Building the Premier Accounting Firm with host Roger Knecht. Today, Roger sits down with Tim Brackney to discuss how to build a premier accounting firm, focusing on private equity strategies, firm valuation, and the importance of a clear North Star vision. Learn how Springline Advisory identifies top-tier middle-market advisory businesses by evaluating economic, strategic, and cultural fits, and why a people-first approach is key to success. In This Episode: 00:00 Welcome & Guest Introduction 01:12 Tim\u2019s Journey to Springline 03:19 Springline\u2019s Goal & Middle Market 05:59 Appeal of the Mid-Market 07:23 Three Vectors for Acquisitions 09:16 Valuation in Acquisitions 12:27 Strategic Fit in Acquisitions 18:11 Cultural Fit Assessment 21:53 Defining Advisory Services 24:31 Best Practices: Future Focus 28:50 Cautionary Tale & Equity Mindset 32:48 Show Sponsors & Episode Summary 37:04 Closing Thoughts & Call to Action Key Takeaways: Define your firm\u2019s \u201cNorth Star\u201d to guide strategic decisions and inspire your team. Understand private equity valuation metrics, focusing on profitability (EBITDA) over traditional revenue multiples. Prioritize cultural fit and talent retention, fostering an \u201cirresistible firm\u201d environment. Develop advisory services with outcome-oriented projects, offering more flexible pricing and higher profitability. Provide ownership opportunities and transparency to motivate team members and cultivate an enterprise mindset. Featured Quotes: \u201cOne of the best opportunities that you can have to learn the language of business is in accounting.\u201d - Tim Brackney \u201cYou have to carve out time and space to make sure that you understand at least what your North Star is.\u201d - Tim Brackney \u201cIf you\u2019ve defined a North Star and you can bring your team along with you, there\u2019s a huge amount of unlock that comes with it.\u201d - Tim Brackney Top 3 Highlights: Valuation Focus: Private equity values firms based on profitability (EBITDA), leadership strength, and recurring revenue, moving beyond traditional revenue multiples. Strategic Fit: Springline Advisory targets middle-market firms with strong leadership and geographic dispersion, aiming to build a full-service advisory firm. Cultural Alignment: A detailed cultural survey and shared values are key to ensuring new firms integrate seamlessly, fostering an \u201cirresistible\u201d environment for both clients and colleagues. Conclusion: Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger\u2019s team here. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.   Offers:   Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable.  These are a must-have addition to every accountant\u2019s library to provide quality CFO & Advisory services as a Profit & Growth Expert today: \u201cRed to BLACK in 30 days \u2013 A small business accountant\u2019s guide to QUICK turnarounds\u201d \u2013 This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. \u201cin the BLACK, nine principles to make your business profitable\u201d \u2013 Nine Principles to Make Your Business Profitable \u2013 Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black \u2013 CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. \u201cYour Strategic Accountant\u201d - Understand the 3 Core Accounting Services (CAS - Client Accounting Services) you should offer as you run your business. Help your clients understand which numbers they need to know to make more informed business decisions. \u201cYour Profit & Growth Expert\u201d - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. Follow the Turnkey Business plan for accounting professionals.  This is the proven process to start and build the premier accounting firm in your area.  After more than 40 years we\u2019ve identified the best practices of successful accountants and this is a presentation we are happy to share.     Also learn the best practices to automate and nurture your lead generation process allowing you to get the bookkeeping, accounting and tax clients you deserve.  GO HERE to see this presentation and learn what you can do today to identify and engage with your ideal clients.   Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center.   It\u2019s here you can become a:   Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE   Next, join a group of like-minded professionals within the accounting community.  Register to attend GrowCon and Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business.   The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter   Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company\u2019s Value.   For Additional FREE Resources for accounting professionals check out this collection HERE!   Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don\u2019t want to miss.   Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe.   Also, let us know what you think of the podcast and please share any suggestions you may have.  We look forward to your input: Podcast Feedback   For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777 ","author_name":"Building the Premier Accounting Firm","author_url":"http:\/\/premieraccountingfirmuac.libsyn.com\/website","html":"