Managing a successful architectural practice requires more than simply having clients. Success will depend on your recognition that a successful architectural practice requires all of the same skills that any business of a similar size would require. While you will be able to develop many of these skills some aspects of success will depend on the contribution of other professionals such as accountants and lawyers.
A succession plan is a strategy which determines the best way for principals to exit the practice whilst ensuring the practice continues. The plan will determine who will take over the leadership and/or ownership of the practice when you leave.
Only eligible Institute members and subscribers can view the rest of this note. Please register or login to view.
