Considering a new business partner? Points for reflection and discussion for professional service practices

There has been very little support for professional service practices in undertaking thorough due diligence when taking on a new partner or director to their practice. I have sought to rectify this by writing a workbook to take you through this process.

The idea behind this was to help reduce poor decisions being reached and ultimately save people and businesses from the results of these errors through supporting thorough due diligence from all parties involved and to aid in the negotiation of the best possible outcome.

As a person who has been involved in numerous partnership introductions and negotiations, I’ve worked hard to ensure as much as possible that these are successful long-term. 

If you would like a free copy of this book, you may contact me on [email protected] and I will forward this to you.

Points covered in the book includes the following:

• ·      Partner/Director hires – what should be considered?
• ·      Comparisons with expectations
• ·      Addressing concerns of current Partners/Directors
• ·      Frequently cited causes for potential conflict
• ·      Reasons others have left your Partnership/Directorship
• ·      Is Partnership/Directorship the right move for the person under consideration?
• ·      Are there valid alternatives to Partnership/Directorship for person under consideration?
•  ·      Why be in business together – synergistic or silo operations?
• ·      What does the person being considered bring to the table?
• ·      Business economics
• ·      Compatibility of income expectations in various business structures
• ·      Charge out structures – points to discuss
• ·      Partner/Director remuneration – contribution and distribution
• ·      Equal Equity Split
• ·      Varied Equity Split
• ·      Salaried Partnership
• ·      Points to clarity in measuring overall performance
• ·      Goodwill and running costs – gaining buy in
• ·      Agreement on exiting strategies
• ·      Assets and liabilities
• ·      The firm culture
• ·      Brand and market position of your firm – market identity
• ·      Compatibility of clients and work types
• ·      Firm management
• ·      Succession planning and retirement strategies
• ·      Gaining agreement on succession plans
• ·      Leverage
• ·      How cross-referrals are managed
• ·      Marketing – points for clarification
• ·      Reference checking – what to ask and why
• ·      Check list for mergers or partnership/directorship appointments
• ·      Preparing a business case

Get your free copy of this book by emailing me:

Karen Courtney

+64 + 027 7296023

[email protected]