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ACEC Texas One-Day MBA

ACEC Texas One-Day MBA. Drama-less OT Finding the strategy that is right for you and your firm. Presented by David Rabinovitz Senior Analyst Morrissey Goodale LLC. A little about David… Education Former business owner / Lived through two transitions Good judgment comes from experience

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ACEC Texas One-Day MBA

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  1. ACEC Texas One-Day MBA

  2. Drama-less OT Finding the strategy that is right for you and your firm Presented by David Rabinovitz Senior Analyst Morrissey Goodale LLC

  3. A little about David… Education Former business owner / Lived through two transitions Good judgment comes from experience Experience comes from bad judgment

  4. Outline for Today • Transition vs. Expansion • Building your road map • Flushing out the options / understanding alternatives • Developing scenarios / crafting a plan

  5. You need to know where you want to go • to select the best path to get there • Understand your end game • Moving in the wrong direction can create drama • How many of you are facing this crossroad?

  6. Transition versus Expansion • As different as north/south vs. east/west

  7. Understand your goals • Transition… • I want to transition out of the business • I am willing to hand over control • I understand it won’t be my firm when this is over • It is time to cash out

  8. Understand your goals • Expansion… • I want to reward and lock in key employees long term • I want more hands helping grow my business • I want my staff’s interests aligned with my interests • I still want to run the place – I am just willing to share

  9. Understand your goals • Transition… • How do I… • Hand over control but remain with the firm • Give up the firm but not my career or passion • Cleanly move away to start a new chapter

  10. Understand your goals • Expansion… • How do I… • Bring on more “partners” but not change how the place runs • Keep staff focused on their roles and not start acting like they own the place

  11. Where do I start? • List every option • Identify the pros and cons • Understand the numbers, the people, and the transaction dynamics • Select the best components and build a plan

  12. Numbers • Develop exit strategy scenarios • Internal vs. external vs. keeping options open • Sell it all now or over time • Achieving price targets – rising values • Incentive compensation models • Financing options • Cash • Financing – internal vs. external

  13. People • Who’s on base… • Leaders, lieutenants, and followers • Talent is often young • Who is interested • Identify their risk tolerance and commitment

  14. Develop a plan • Plan components • Be inclusive – you must have buy-in • Understand it is a long road with bumps • Projections are never certain • Understand the process such that you can better understand how business issues affect your plan • The process must become intuitive

  15. Questions? David Rabinovitz Senior Analyst Morrissey Goodale LLC drabinovitz@morrisseygoodale.com (617) 281-0710

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