Time Is Running Out for Succession Planning

Digital visualization of a blue alarm clockBONUS: 22-point M&A due diligence kit.

By Domenick J. Esposito
8 Steps to Great

Much has been written and discussed regarding succession planning at CPA firms driven by the vast number of founders, leaders, and rainmakers who are retiring at a record pace.

MORE ON STRATEGIC PLANNING: Expand Your National and Global Geographic Reach | Using a High-Performance Business Framework | What a Client Service Plan Can Add | 36 Consulting Services You Might Be Overlooking | How to Drive Consistent Partner Behavior | CPA Firm Partner Performance: Different Activities, Different Metrics | Develop the Partners You Already Have | How Many Partners Do You Need?
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Key takeaways in this post:

  • Mid-market sustainable brands generally combine practices as opposed to acquiring or buying practices.
  • Spend time to make sure it feels right.
  • The easier part is getting the contract signed; the harder part is the integration of the two practices and to make sure 1 + 1 at least = 3.