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MANAGING THE OFFICE

How to improve the value of your practice

“Value Drivers are factors that affect the actual and perceived value of a practice,” says valuation expert Ronald L. Seigneur, MBA CPA of Seigneur Gustafson LLP, based in Lakewood, CO. “Potential investors, whether internal or external, look for performance in the two areas—universal value drivers and industry-specific value drivers.”


Universal value drivers include:

  • increased cash flow,
  • enhanced operating systems that improve sustainability of cash flows,
  • improved technology platforms and facilities,
  • reduced or restricted debt,
  • documented sustainability of earnings,
  • implementation of strategies to grow and sustain the inflow of clients and client service opportunities, and
  • insuring for a competent administrative/management team.

Industry-specific value drivers include:

  • stability and outlook for growth in the areas emphasized within the practice,
  • technical expertise,
  • diversity of clients and services provided, and
  • employee performance and morale.

Focusing on tactics to improve and enhance the value drivers for your firm can pay huge dividends over time to increase the value of the firm.


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