Lifestyle Is Worth Less Than Wirehouse [Episode 194]
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What You'll Learn In Today's Episode:
- Why you need to look at what your real value is.
- If you’re considering buying a practice, you need to consider the time involved.
- Being clear with clients who have an inheritance coming their way.
- How multigenerational practices need to be careful and still look at the math.
- Why you should have a third party pull data for you.
Do you feel your practice is worth 1 Billion Dollars because you heard from someone about a practice that sold for 6x, 8x, 10x? On today’s episode, Matt and Micah look at practice valuation and share the importance of looking at real numbers. If you’re interested in selling your practice, you must pay close attention to actual numbers, not just what someone assumes is happening. But what if you have no interest in selling your practice? Listen in as Matt and Micah discuss why, no matter what, you need to look at your real data and pay attention to what you’re measuring.
Ideas Worth Sharing:
‘We get in this autopilot aspect of it where we don’t really know the numbers, and I want the documentation to prove it.’ - Micah Shilanski Click To Tweet ‘I want to see the real numbers, especially if you’re thinking about buying or selling a practice.’ - Matthew Jarvis Click To Tweet ‘You should build to sell, but you should operate to live.’ - Micah Shilanski Click To TweetResources In Today's Episode:
- Matt Jarvis: Website | LinkedIn
- Micah Shilanski: Website | LinkedIn
- TPR on YouTube
- Learn about our membership options by contacting lifestyle@theperfectria.com
- The Perfect RIA Nation Power Session – March 29, 2023 – Save Your Spot Today!
