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As a partner in a professional services firm, we have worked hard to create and install a succession plan that allows retiring partners to leave successfully, while at the same time affording great opportunity for the next generation to grow and eventually also retire from the firm. But more and more we’re hearing from professional firms who are considering a sale of their firm to a third party be it either a strategic or financial buyer. Well todays’ episode will prove especially helpful to owners of professional services firms as we discuss. Pete Martin has worked in sales, operations, and executive management for over 25 years beginning with IBM, executive management at SAP, and then building six of his own companies. He has been personally involved in the sales of over $1 billion dollars of software, services, and technology to global companies such as Dow Chemical, Lockheed Martin and Eli Lilly, as well as small to medium-sized businesses. Pete started, scaled, and sold four out of four previous companies. Two remain active including AskMyBoard with his last firm being sold to the global auditing firm, KPMG for a crazy multiple. And that’s what we’re going to focus on today, how to sell a Professional services business for a crazy multiple.
