The Real Cost of Waiting Too Long to Exit Your CPA Firm

When I wrote my last post — The CPA Exit Timeline: How Long It Really Takes — I focused on the numbers. 

The months (or years) it takes. The practical milestones. The logistics. 

But timelines aren’t just numbers on a calendar. 

Behind every exit story, there’s a person. And I want to share one with you. 

 

A Story I’ll Never Forget 

Last September, I sat across from a CPA firm owner who had finally decided: It’s time to exit. 

He assumed it would be simple. Maybe six months, a quick handoff, and then freedom. 

But as we dug into his practice, the reality hit hard: 

• The firm was too dependent on him personally. 
• There was no real client transition plan. 
• The team wasn’t aligned or prepared. 

On paper, he thought his practice was worth one number. In reality, he left 30% of potential value on the table. 

And worse — the whole process felt rushed. 

He wasn’t leading the transition. It was leading him. 

 

Why So Many CPAs Wait Too Long 

I wish I could say this was an unusual story. It’s not. 

Most firm owners don’t start planning until they feel ready — but by then, their options have shrunk. 

And here’s the truth: 

• Buyers don’t pay for effort. They pay for systems, profits, and potential. 
• Transitions take 12–24 months (sometimes longer). Rushing never works in your favor. 
• If you don’t clarify your vision before the process begins, even a “successful” sale can leave you restless or full of regret. 

 

What You Can Do Now 

If you’ve been running your practice for decades, chances are you’ve poured your life into it. 

Which means your exit isn’t just a financial decision — it’s a life decision. 

The earlier you start preparing, the more freedom you’ll create for yourself later. 

Here are a few practical steps you can take today: 

• Run an honest readiness check. Is your practice too dependent on you? Would it run smoothly without you tomorrow? 
• Diversify your revenue streams. Firms with recurring revenue command higher valuations. 
• Clarify your vision. Ask yourself: What does life look like after my firm? (Travel? Family? Part-time advisory work?) 
• Get help early. Having an advisor, mentor, or framework makes the process far smoother — and far more profitable. 

 

Why This Matters 

Selling or merging your firm is likely a once-in-a-lifetime decision. You don’t get a do-over. 

And if you start too late, the cost isn’t just financial — it’s emotional. You risk leaving money, freedom, and peace of mind behind. 

The good news? With the right preparation, you can exit on your terms — confidently, profitably, and without regret. 

 

Next Step: If you’re even thinking about what comes next, don’t wait until you feel ready. Start now. I invite you to schedule a call with me to talk about your exit readiness and how to plan a transition that truly works for you.