×

Advice to Potential New Principals

So, you have been invited to become a principal in your firm? Congratulations! Now, what can you expect? Are there lessons learned from other design firms that have successfully gone through internal ownership transition? Yes, there are.

Cameron MacAllister consulting firm completed a benchmark study a few months ago on how architecture firms are handling the ownership succession process involving one or more founders who are near the end of their tenure.

The firms were located all over the U.S. (Northeast, Southeast, Southwest, Midwest, Northwest, West), and ranged in size from 25 to 190. Eight of the participating firms are recipients of AIA National Firm Award. What these firms had most in common was a high-quality design orientation. We call these Design-First Firms.




You may also be interested in:

Avoiding Fee Disputes

With the passage of the $1.2 trillion infrastructure act, architecture firms across the board can anticipate more work in the next few years. While the prognosis for the industry is positive, firms should take the time to establish meaningful fee collection practices so that they can remain financially solvent. Avoiding fee disputes with clients helps maintain…

The Importance of Employee Benefits for Small Business

For small-business owners, the importance of employee benefits is a significant factor when it comes to attracting and retaining talent. The majority of workers prefer attractive types of employee benefits—like insurance, paid time off, and a retirement plan—over pay raises. Whether you’re competing for talent or keeping the high performers you already have, small-business employee…