Nine Steps to Effective Succession Planning for the Small Firm

Start thinking about “the fun factor.”

by August J. Aquila
Aquila Global Advisers

No heir apparent – What does the small firm do? Unfortunately there is no silver bullet or magic solution to solve this problem.

August Aquila

More August Aquila on CPA Trendlines:  Thinking Merger? Look Before You Leap  | Four New Checklists for Succession Planning  |   Partner Accountability: Seven Signs Your Firm May Be in Trouble |

I do, however, have some solid suggestions that may help you work through the problem. And, if you start sooner than later, you will have a better chance of successfully passing the baton to someone else.

How do I know it’s time to sell or merge? There is perhaps one key indicator that it’s time for you to move on or do something else. I call it the “Fun Factor.”

1. Ask yourself these simple questions:

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