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"Based on this scenario, it sounds to me like it would be a while before one would reap any financial benefits of ownership." Yes, abusement park, it will take a while for a new principal to reap the benefits of ownership. Just as it took me 12 years to build the company to its present value...

Thanks. I appreciate all these ideas, which helped to point me in the right direction. I learned that first we need to have a valuation for our company, which could be performed by an "expensive" expert business consulting firm. The valuation process can be fairly complex because is based...

I archive project-related e-mails in directories related to the specific project. That way, all project correspondence is located with the project files, and I can archive the complete project when it closes. I use two fantastic tools: MessageSave and EZdetach. I save the messages to the...

Our hydrologic engineering consulting firm has been in business for 12 years, with two principals and (currently) four staff-level and project-level scientists & engineers. We are beginning conversations with a principal-level engineer at another firm, and he may join our firm if we all...