Here’s a true story that plays out more often than you’d think.
There once was an accounting firm. Modest but ambitious. Sitting comfortably in the low seven figures, they had set their sights on becoming a mid-seven-figure firm and they wanted to get there the right way: organically.
The managing partner was driven. A growth project was launched with an internal event. A vision was outlined. Careers paths were suggested. Promotions were hinted at.
The following two years didn’t follow the script. Instead of executing a roadmap to scale, the managing partner spent the entire journey firefighting.
- One partner was hit by health problems
- A toxic team member poisoned morale
- Recruitment delivered below expectation
- Marketing initiatives failed to gain the desired traction
- As a result, team buy in faltered
Two years, maybe 5% of an entire career, passed. No meaningful growth. The only fee increase came from a price uplift to existing clients. And then came a plot twist.
The firm received an unsolicited offer which included a life changing amount of money from a buyer who’d keep the managing partner in the frame going forward.
I can only imagine how many times that money got spent in the managing partner’s mind.
But then… clarity emerged.
As conversations progressed, the partner saw what he’d be trading: control for cash, discretionary time for targets, autonomy for alignment. That benevolent buyer began to look like a behemoth boss.
In the end, the managing partner chose to walk away. Not from the deal, but from the dependency mindset. The idea that salvation comes from being swallowed by a larger entity.
This isn’t an isolated incident. Right now, I’m seeing a micro-trend.
Firms, pockets of them, not all; are stepping back from the golden handshake of private equity. They’re realising the price isn’t just financial; it’s operational, emotional, and cultural.
Once they see the reality of:
- Reporting to regional managers
- Living by corporate KPIs
- Being reduced to “brand compliance”
…many decide: “That’s not for us.”
They’re rediscovering the value of independence and how their clients prefer it that way. Many clients fear a faceless brand. They want to work with a human who helps.
Bissett’s Bullets
- Independence is a premium. While everyone else is chasing scale for scale’s sake the boutique model, where depth beats breadth, offers loyalty, traction and respect.
- Private equity is not always a saviour. It’s more of a strategy, than a solution. Test the trade-offs before you cash the cheque.
- Don’t outsource your ambition. You don’t need to follow the herd, although you’re dying to and most of your peers do exactly that. Work out your own route. It might be harder, but it’s what you’ll be remembered for.
To your success
Martin Bissett
