Posts
No. 29. All in Good Time…
One of the unusual benefits of a Succession Plan is that it slows…..things…..down…., often a big advantage to both the founders (G1s) and the successors (G2s and G3s). If you want a fast exit, sell to a third party. If you want to retire on your own time table and at a more gradual pace,…
No. 28. Achieving Clarity
In the past eight months, I wrote and published two companion books about succession planning, one for each generation of the process. But my ultimate goal isn’t to talk you or anyone else into building a multi-owner, multi-generational business that might still be around 30 to 40 years from now, led by younger professionals that…
No. 27: How to write a book!
I just finished two books in eight months. Both books in this series were about 75,000 words. My wife says I make it look easy. It’s not. In each of my four total books so far, I find that I reach a magical place about half way through when I go into “total immersion mode.” …
No. 26: Postponing Your Last Day
In many succession plans, G1 (or the founding owner) gradually sells their equity all the way down to 0.00% ownership at some point before they retire. The successor team of G2s and G3s are tasked with gradually buying all of G1’s equity even as, especially as, the value and price of the equity grows. Let’s…
No. 25: When G1 says “No” to additional owners
More than a few times in my consulting career, G1, individually or as a group of similarly aged founders (or G1 for Generation One), says “No” to admitting new, next-generation owners. Alternatively, the answer is “Yes,” but for a relatively nominal amount of equity (i.e., 3% or less) and with no promises or hint as…
No. 24: Making a Living vs. Building Wealth
This is an excerpt from my new book, Acquiring Your Future Through a Succession Plan: A Primer for Next Gen Professionals (Chapter One, Section 3) – written specifically for today’s younger professional service providers: As a PSP, or a Professional Services Provider in your chosen venue, there is nothing like feeling the satisfaction of providing…
New book just published!
Exciting news – “Acquiring Your Future Through a Succession Plan: A Primer for Next Gen Professional Service Providers” has been published and is available on Amazon.com in paperback, eBook, and hardbound formats. An audiobook is due out next month. This is book No. 2 in a two book series. Acquiring Your Future Through a Succession…
NO. 23: THE BASIC PREMISE (of my newest book for next generation professional service providers, due out March 7th!)
This book is about one generation helping another. But as a thirty-something year old Professional Service Provider (or PSP), you actually have several good choices in front of you. Time is on your side. Your choices include working as an employee or a contractor indefinitely, buying another PSP’s practice and/or starting your own small business,…
No. 22: The Power (& Joy) of Self-Publishing
I just finished the second companion book in my two book series for Professional Service owners, this one for the next generation prospects or G2s/G3s, and before I move on to my next book, I want to share with you my writing experience. I now have two books formally or traditionally published, and two books…
No. 21: Grants and Gifts of Equity
Let’s get straight to the point. My advice to every founding owner that I’ve consulted with over the past 30 years has been simple and consistent on this issue. Stock, or any form of equity, in a valuable Professional Services business should never be treated like a birthday present. As applies to most small business…