Your business is worth more when it is
fully functional and active. Winding down
your business and then deciding to sell
wastes time, energy, and value. Even if you
aren’t sure you want to sell, talk to a specialist before winding down, just in case.
2. Don’t be greedy. Keep your asking
price within a justifiable range. Artificially inflating your price will only chase
away smart, savvy buyers — exactly the
kind you want taking over your practice.
3. Don’t undermine the deal. Selling
your business is as much a psychological
transition as it is an economic one. Make
sure you are mentally ready to sell. Otherwise your reluctance could inadvertently obstruct the transaction.
4. Don’t go it alone. There is no reason
you have to do everything or even know
how to do everything yourself. Selling a
business is a big deal with lots of moving
parts. Make the process as seamless as
possible by consulting experts.
To learn more about making a stellar match and how to transi- tion your practice, please join
me at this year’s Solo and Small Firm
Conference in Spokane, July 9–11. I
will be speaking on a panel July 9 at
5 p.m. and will also have a booth set
up throughout the conference. Please
stop by and say hello. NWL
Justin D. Farmer is a lawyer,
business broker, and entrepreneur.
He is a graduate of the University
of Washington’s Foster School of
Business and the Seattle University
School of Law. Farmer combines his
passion for business, entrepreneurial
spirit, and legal background in Private Practice Transitions, Inc. Visit
to learn more.
A Hospital Mistake . . . .
“After my husband checked into a hospital
ER with a blood clot in his leg, the nurse
failed to give him prescribed blood thinners
before a scheduled procedure. He died the
next morning of a pulmonary embolus.
“I feel my path led me to CMG’s office and
Tyler Goldberg-Hoss. Not only is Tyler
personable, but he went above and beyond
to ensure the process was not a burden
to me and to achieve the final result. The
settlement will take care of my daughter’s
needs for the rest of her life.”
Tyler Goldberg -Hoss
Partner Medical Malpractice. It’s All We Do.
155 NE 100th St., Ste. 400, Seattle, WA 98125