10 Steps to Transitioning to a New MP

Senior businessman and another businessman talkingPlus 4 questions to answer if the MP is staying with the firm.

By August J. Aquila
What Makes a Great Partnership

One of the most difficult events that a firm faces is the transition of power from one managing partner to another, especially when it’s the first time.

MORE ON GREAT PARTNERSHIPS: 5 Ways to Keep Your Edge | 5 Reasons That Leaders Fail | 11 Things All Partners Must Do | Why Partners Need Written Goals | The 6-Step Plan for Transitioning Clients | Fighting Restraining Forces | Chemistry and Mutual Respect Matter | Great CPA Firm Partnerships Begin with Trust | The 4 Best Ways to Use Pre-Retirement Partners
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Knowing when to pass the baton and how to pass it are critical decisions every firm will have to make.