A recent survey of participants in the Practice Builder Academy reveals that the biggest challenge facing business valuation professionals in growing their practices is getting work in the door. Almost all of the 75 responses centered around this theme. “More than a few people said they have been trying to grow their practices for more than 10 years,” says Rod Burkert (Burkert Valuation Advisors LLC), who created the academy with Mel Abraham, a valuation and entrepreneur expert. “While their tenacity is to be admired, it’s sad that so many are still trying so hard to get work.”
One tip: “Take the time to work on, not just in, your business,” Burkert advises. “For example, envision your successful practice X years from now. Who are your aspirational clients and referral sources? What are you doing to attract them?” Burkert offers more practice building tips in the upcoming July issue of Business Valuation Update (subscription required).
The Practice Builder Academy (PBA) is a 12-month mentoring program that teaches proven strategies to BVFLS professionals who want to build their practices and redesign their lives. A second program will be opening for the next wave of PBA participants at the NACVA Conference in Las Vegas (June 17-20). Burkert and Abraham will have a booth in the exhibit hall, so, if you’re attending the conference, stop by for more information.
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