SUCCESSION
IT'S NEVER TOO SOON TO START THINKING ABOUT
FUTURE LEADERSHIP
SUCCESSION
IT'S NEVER TOO SOON TO START THINKING ABOUT
FUTURE LEADERSHIP
NO MATTER WHERE YOU ARE IN BUSINESS, YOU SHOULD BE PLANNING FOR SUCCESSION
Succession planning is a long-term plan to secure the successful exit, departure or retirement of a firm’s equity holder or owner.
A well-executed and sustainable succession plan enables the most successful outcome: continuity for your practice and clients, and peace of mind for the practitioner and their family. Getting clear about your succession plan means you decide how your practice endures.
At Rob Knights & Co, we are passionate about proactive succession planning. Principal Michelle Knights, who assumed leadership of the firm in 2004 after her father, Rob Knights, passed away, knows firsthand the importance of clear and practical succession planning.
Our personal experience and more than four decades guiding a wide variety of professional practices towards a positive succession means we offer a unique and trusted service. We steer you through each step; from planning to implementing and finalising your practice’ succession.
We guide negotiations throughout, and help you:
- Identify a successor,
- Qualify a partner-elect
- Determine a fair transactional value
We identify key considerations, help you create a mentoring program and ensure your practice continues to flourish in the future. Approachable and caring we’re also straight-talking and practical. Get in touch now to begin a smooth, sustainable and successful transfer of your practice.
A Personal Succession Story
My father, Rob, founder of Rob Knights & Co, always joked that he had the longest succession plan possible… he bred his own successor in me.
I joined the firm as a 20-something, initially as a short-term placement in my father’s specialist consultancy firm. Offering an ever-growing range of services to its clientele, the services of this business were heavily dependent upon the expertise and knowledge developed by my father and his senior personnel.
As my employment turned from short-term to full-time, the opportunity for me to eventually own this exciting and dynamic business became a reality and a succession plan was born.
My father developed a mentoring program to develop the necessary skills and expertise required. Three years into the program my father was diagnosed with cancer and, while he proactively fought the disease, he lost his battle nine months later.
Whilst this was a tragedy, the one positive outcome was his significant and passionate work in mentoring and developing his successor. As a result, I was able to step forward confidently and take over the business, ensuring it carried on. Today, the business continues to flourish.
