The Successor Test ( The maximum number of points is 30 ) SCORING SYSTEM : Blue-Shaded Questions : Yes = 3 points , No = – 3 points . Unshaded Questions : Yes = 1 point , No = – 1 point .
any successor , is ready for the “ dance ?”
I came up with just such a little test myself , one I would encourage you to quickly take as a business founder ( or successor ). You can take it for your small practice or your entire large firm . Ask these questions about a person or about a “ cadre ” of G2 ( second generation ) professionals . I think the score and the questions themselves can be revealing .
Each “ Yes ” is worth a point and each “ No ” is a negative point ( that you subtract ). The shaded questions are worth three points , or minus three if the answer is “ No .” The shaded questions are “ Powerballs ”— they add or subtract three points . The questions should be clear enough , and I would recommend you fill it up with a negative bias — if you are thinking “ maybe ” rather than “ yes ,” then the answer is probably “ No !”
25 Or More
If you scored 25 points or more , you and your firm are absolutely ready for succession . You have all the necessary ingredients and , more important , your
The Successor Test ( The maximum number of points is 30 ) SCORING SYSTEM : Blue-Shaded Questions : Yes = 3 points , No = – 3 points . Unshaded Questions : Yes = 1 point , No = – 1 point .
CLIENT SERVICE
1 . My successor or next-generation team has all the expertise and skill necessary to service even our largest and most complex |
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client relationships . |
Yes |
No |
2 . They consistently offer new ideas about how we can service clients better . Yes No 3 . They repeatedly earn compliments from our existing clients . Yes No 4 . They always create high-quality connections with existing clients and are rarely , if ever , " rejected " by clients . Yes No
LEADERSHIP AND MANAGEMENT 5 . They are devoted to and passionate about leading and managing the people on our team . Yes No
6 . They have experience managing employees in our firm and making decisions such as recommendations for promotions , |
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bonuses and compensation . |
Yes |
No |
7 . They are respected by their colleagues and frequently sought for career advice and mentoring . Yes No 8 . They actively participate and even chair committees , groups and task forces . Yes No BUSINESS DEVELOPMENT
9 . They are capable of developing new relationships with clients at a steady pace of 5 % or more a year ( which means they |
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can personally add five new quality clients for every 100 ). |
Yes |
No |
10 . They frequently create content used for marketing and are engaged with forums where they can heighten the firm ’ s profile |
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and spread its reputation . |
Yes |
No |
11 . They have a reputation of their own and take steps on their own to connect with the target market and actively build it . Yes No 12 . They often receive referrals from existing clients without seeking or soliciting them . Yes No OWNERSHIP 13 . They are willing to borrow a substantial amount to purchase equity in the firm . Yes No 14 . They fully understand the financials of the firm and are capable of making difficult profit and loss decisions . Yes No 15 . They treat the finances of the firm with the same care and discipline as I would have . Yes No 16 . They are willing to forgo immediate personal gain to grow the " collective " equity value of the firm . Yes No CHARACTER 17 . They ’ re someone I would trust to manage my family ' s affairs if I were gone . Yes No 18 . They always behave in ways consistent with the values of my firm . Yes No 19 . They have never had their integrity , ethics or behavior questioned by my team . Yes No 20 . They are highly regarded in our community as active and contributing members . Yes No
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