×

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:

Tips for Launching a Successful New Practice

Architects describe the most important things they learned when beginning their firms, including where they got help. Starting your own firm is a challenge; structuring it to survive is a formidable task. If you’re considering developing your own practice, you likely have a wealth of experience and a drive toward entrepreneurship. What you’ll need to…

Do you know which business type is right for you?

Do you know which business type is right for you?  States generally allow businesses to operate as sole proprietorships, partnerships, corporations, and limited liability companies (LLC), and some have variations on these basic business types such as professional corporations and limited liability partnerships. Each business type serves a specific purpose, situation, or concern relating to…