Four Steps to Achieve a Sustainable Management Succession Plan


Originally published in Construction Executive

By Shane Brown

There’s a glaring discrepancy in the construction industry between the kind of business exit that owners want and the kind they get.

Many owners of small to mid-size construction firms want to leave in a way that assures their legacy and keeps the company name on the door. Their other desire is to give key players in the company a chance to step up, work hard and have their own chance to profit from the business’s success.

To achieve that, they’re often prepared to accept a lower financial windfall than might be possible through other types of exits—though, of course, they still want to reap their own rewards and guarantee themselves a comfortable retirement.

In reality, relatively few owners manage to get their dream exit.

Read the Full article at Construction Executive

Shane Brown is a partner at Plante Moran, leading the construction practice for the Rocky Mountain region.