A lot of agency principals speak with passion about transitioning the ownership of their agency to their employees, instead of eventually selling to or merging with another firm, but my guess is that only a fraction of those who say their goal is internal perpetuation will ultimately pull it off. Why? Because for many a lack of preparation will simply make it impossible–they will be like out-of-shape athletes attempting to run a marathon.

If pressed to explain how they’ll perpetuate, many freely admit they aren’t sure whether they are on the right track. Preparing for perpetuation is complicated, and many don’t even know where to begin.

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