Wednesday, July 27th, 2022
We Will Just Merge Up
“The biggest problem I shall ever face: The management of Dale Carnegie.” – Dale Carnegie
We haven’t groomed future owners. We will just work a few more years and then merge up.
The above is the succession plan that many smaller firms are embracing. Many of these firms are not managed well. Yet, the partners are still making a hefty salary. Life is good because they have stayed comfortable and ignored some significant changes.
Here’s a wake-up call: Acquiring firms want well-managed, successful firms.
They want:
- Skilled leaders
- Efficient processes
- Outstanding people
- High performance
Cruising along until you age out or get sick might not be the best plan.
- "Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself."
