Some of the fastest growing professional services in the United States include:
And those are but a few of the many, many Professional Service models that power our economy and help us all solve problems and live better lives. But most of these service providers have built or are building one-generational practices that will end with their own careers. Multi-owner/multi-generational businesses are all too rare - and that needs to change.
Building With the End in Mind lays out the mechanics of the process in 50 succinct, but hard-hitting lessons garnered from the experiences of a succession planning expert who has instructed thousands of professional service providers in this process. For a PSP, or Professional Services Provider, who is larger than a force-of-one or wants to be, building a business designed to be valuable, profitable, investable and sustainable is what this book is all about. Succession planning is a gradual transition of ownership and leadership and involves a team of successors who buy-in over a ten to twenty year period if the plan starts early enough. It is nothing like selling to a third-party. If you want to build something that will outlive you, perhaps a legacy, you have to build with the end in mind. This book will show you how.
This book is written to guide business builders and key employees, their supporting legal, tax, and valuation professionals, even banks who might lend to the next generation owners and investors. Succession planning is a powerful tool that will touch the lives of today's owners and tomorrow's successors - it changes everything!
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