Succession Planning

Three Tips for Implementing A Succession Plan

  • "A succession plan requires the firm to think beyond (dare I say, 'out of the box?') where it is today."

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Over the years, tax and accounting firms thrived during the boom times and made it through tough, economic slumps based on a traditional business model: converting prospects into clients, retaining clients, offering value-added services, and staying updated on the latest accounting and tax law. Why, then, is it so difficult for a firm to create and implement a succession plan? As a concept, succession planning is simple. This “roadmap” is focused on who is going to ascend to the managing...
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