“Firms that are able to position themselves clearly as an expert in a technical area, or an expert with a certain type of client, tend to be growing faster than those that look at anybody who can flog a beer as a prospect,” Tibergien said.
Figuring this out now for a sale down the road will increase an advisory firm’s value no matter what the market.
“It’s not inevitable that you’re going to sell,” Tibergien said. “But it is inevitable that if you don’t do something about building continuity in your business, the business will die with you.”