Michelle’s Blog
Key Legal Documentation to have in Place as a Practitioner
Let me give you a scenario. Imagine this, you are a sole practitioner or a practitioner in partnership with others. The size of the firm or number of equity holders doesn’t really matter. You leave the office on a Friday night without a care in the world. Life is good.
Read more...Posted in February 28th 2017 in Succession Planning
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Identifying Your Post Practice Identity
In the past week or so, many of us would have seen or read about the latest downfall of the great Grant Hackett. At his peak, he was idolised by Australia at large, he was one of our greatest swimmers and to some, almost a God.
Read more...Posted in February 28th 2017 in Succession Planning
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The Importance of Keeping the Vendor as an Advocate
The success or failure of any practice transaction significantly hinges on the ability to transfer client relationships from the vendor to the purchaser. After all, this is essentially what is being transferred, the right to revenue generated from the continued servicing of a group of clients.
Read more...Posted in February 28th 2017 in Consultations , Practice Broking
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We Need to Find a Way Past Generational Expectations to Aid Succession
For almost as long as I can remember now, many professional firms throughout Australia, and probably the world, have utilised two primary reasons why their firms have no internal options for succession. They being: 1. The staff have not expressed any interest in becoming equity holders in this firm 2. We have no -one who is ‘partnership material’ Now, we won’t venture into addressing the first point, in part because the likely response will quite possibly be quite similar to the reasoning for the second point.
Read more...Posted in January 27th 2017 in Succession Planning
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