Maybe I’ve met one or two design firm founders who expect their business to die when they retire – but they would be an insignificant, tiny fraction of practices. Almost all want to see their “creation” continue on, partly for their pride and ego, but also for the financial benefits they can realise either through continuing to work a reduced load, or through selling the business.
Many design firm founders I’ve met also feel an obligation to their loyal staff and want to leave them a thriving, ongoing business.
All these excellent motives aside, an amazing number of firms “leave it too late” – they don’t do the things that need to happen to achieve these objectives.
The reality is that it usually takes about 10 years of planning and implementation to build successful future leadership – and 5 years is probably the realistic minimum.
PSMJ Australasia has worked with many architects and engineers, large and small, to help them prepare for, and implement, this transition. Needless to say, every situation is different, and requires a unique plan.
Often, there are hidden issues and conflicts that stay buried until it’s time to start reviewing draft OT documents, that can threaten to derail a program; these have to be resolved. Occasionally it involves the departure of long-serving staff, which can become very stressful and difficult.
The role of PSMJ in these scenarios varies enormously, according to the issues to be resolved and the capability of the firm members to effectively resolve them. Precisely what PSMJ brings to the table is objectivity and deep experience. We’re involved, but not emotionally involved – and often that makes all the difference.
For more information – and a free, no-obligation initial consultation – contact Charles Nelson: 03 9686 3846 or firstname.lastname@example.org.