However, you are able to distinguish between a good and not so good steward when the time comes to plan ownership transition – the earlier the better. This is a crucial responsibility, yet it can be difficult to prioritize because of all the time, effort, dedication, and passion that goes into design professionals’ work. As a principal, you have paved the way and created value for yourself and your firm throughout the years, but there comes a time when preparations must be made to ensure the firm outlives its founders/owners. One of the most important things a principal can do is create a comprehensive transition plan. You need to have an ownership transition plan in place.So, what does it mean for principals to be good stewards of their firms? Let me ask principals: Are you truly being a good steward of your business? With 2022 behind us and the rest of 2023 on the horizon, it is critical to ask yourself this, and most importantly, address the truth objectively with humility and candor – no matter what the result may be. Responsibility, management, care – all these words lead us to the conclusion that if we are to be good stewards, we have to fervently maintain something of value and importance.
Principals must plan for the future, mentor younger staff, and genuinely care for their people to be good stewards of their firms.Īccording to, the definition of “stewardship” is the following: “the responsible overseeing and protection of something considered worth caring for and preserving.” Merriam-Webster defines it as “the careful and responsible management of something entrusted to one’s care.”
0 kommentar(er)
