LEADER 05716nam 2200757 450 001 9910131626603321 005 20230912153620.0 010 $a1-119-07135-6 010 $a1-119-07157-7 010 $a1-119-07148-8 035 $a(CKB)3710000000468771 035 $a(EBL)1977610 035 $a(SSID)ssj0001552235 035 $a(PQKBManifestationID)16171010 035 $a(PQKBTitleCode)TC0001552235 035 $a(PQKBWorkID)14812802 035 $a(PQKB)10965321 035 $a(PQKBManifestationID)16252025 035 $a(PQKB)23568499 035 $a(DLC) 2015020824 035 $a(Au-PeEL)EBL4040926 035 $a(CaPaEBR)ebr11113955 035 $a(CaONFJC)MIL826446 035 $a(OCoLC)910159241 035 $a(CaSebORM)9781119058526 035 $a(MiAaPQ)EBC4040926 035 $a(MiAaPQ)EBC1977610 035 $a(EXLCZ)993710000000468771 100 $a20151106h20152015 uy 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSuccess and succession $eunlocking value, power, and potential in the professional services and advisory space /$fEric Hehman, CFP, Jay W. Hummel, CFA, Tim Kochis 205 $a1st edition 210 1$aHoboken, New Jersey :$cWiley,$d2015. 210 4$dİ2015 215 $a1 online resource (242 p.) 300 $aDescription based upon print version of record. 311 $a1-119-05852-X 320 $aIncludes bibliographical references and index. 327 $aCover; Title Page; Copyright; Contents; Acknowledgments; Introduction; Section I Operational Challenges . . . and Solutions; Chapter 1 The Founder as the Sun; The Evolution of a Founder-Centric Firm; Is My Firm Founder-Centric?; Awareness; "The Painters"; Chapter 2 Replacing the Sun: A New Solar System; What Road Do You Choose?; Committing to the Road Less Traveled; Assessing the Client Experience; Welcome to McDonald's: May I Take Your Order?; Human Capital Framework; Improvement Matrix; Chapter 3 Ordering Off the Menu; Choices Have Consequences; The Easiest One 327 $aThe Great "Current Income" Debate Equity versus "Milking"; What Does a Successor Want off the Menu; Not Everyone Is William Wallace; Chapter 4 Setting a Vision, Together; STEP 1: Can We Work Together?; Step 2: Setting a Vision; Section II Financial Challenges . . . and Solutions; Chapter 5 It's Always About the Money; An Ironic Twist; Management versus Equity; Value and Control; Distribution of Value as a First Step; The Founder's Financial Dilemma; The Successor's Financial Dilemma; Building for an Exit Doesn't Maximize Value; Hope Is Not a Strategy; The Great Risk Divide 327 $aChapter 6 Splitting the Pies: Defining What Is Enough Only One Thing Really Matters; Four Big Questions; Defining an Exit Date; Successor Concurrence; Non-Operator Owners; Mandatory Sales/Retirement; The Pie-Slicing Exercise; Slicing the Equity; Slicing Up the Cash; Avoid the Path to Neutral; Defining What's Enough-a Real Case; What a Successor Should Ask For; Chapter 7 Let's Make a Deal; Discounting Is the Name of the Game; External Capital; Lessons from Other Professional Services Businesses; Today's Landscape; It May Be Time to Consider a Sale or Merger; What Drives Value? 327 $aIs the Firm Still Just the Founder?Is Your Firm Strategic?; Successor Considerations in a Merger or Acquisition; Been There; Done That; Why Deals Don't Get Done-or Shouldn't; Section III Emotional Challenges . . . and Solutions; Chapter 8 It's Not Just an Office; Know Your Personality; The Office; Successor Surprises; The Fear of Being Wrong; Successors Don't Want to Admit Being Scared; It's Not a Light Switch; The Slow-Motion Effect; An Unfair Expectation: Successor as Advisor; Progress, Not Perfection; Chapter 9 Breaking Inertia; Do We Have an Inertia Problem?; The Four Choices 327 $aIs Doing Nothing a Risk?How Does This Process Start?; Can the Successor Start the Process?; The Homework Assignment; Successors Should Ask Hard Internal Questions; Going All In; Showing Progress; Starting in the Future; What's Next?; Chapter 10 Derailed; The Fear of Failure-Again; Founderitis; Life After the CEO Job; Term Limits or Planned Rotation of Roles; Optimism Bias; Reality Distortion Field; Hitting the Pause Button; Necessary Endings; Chapter 11 Building a Legacy; What's in a Name?; What's Your Title?; Memorials; The Finest Legacy; Some Final Words; Bibliography; Supplemental Material 327 $aInterviewee Biographies 330 $aAn insightful look at leadership transition from the successor's perspective Success and Succession examines the leadership transition process from the successor's point of view, and outlines the considerations and strategies that lead to a better future for the business. With a focus on practical planning and execution, this insightful guide provides insight into the strategies that smooth the transition and help the new leadership make better business decisions. You'll learn when and how to start planning, who you need on your team, and the obstacles you should anticipate along the way. You 606 $aExecutive succession 606 $aConsulting firms$xManagement 606 $aIndustrial management 615 0$aExecutive succession. 615 0$aConsulting firms$xManagement. 615 0$aIndustrial management. 676 $a001 700 $aHehman$b Eric$f1974-$0947327 702 $aHummel$b Jay W.$f1979- 702 $aKochis$b Tim$f1946- 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910131626603321 996 $aSuccess and succession$92140408 997 $aUNINA