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Pass It On: The Entrepreneur’s Succession Playbook of the McCabe Arch

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When you build an airplane, for example, you often construct many of the components before final assembly. The same is true with the different components of an arch.

However, the unique aspect of an arch was that we continually build it from two sides. For a succession planning model to work, we needed commitment from the owner and the protégé. It was imperative that both sides complete their assignments with the ultimate goal of the finding—and resolving—the key issues that were represented by the various blocks.

The most important issue would be closure and was represented by the Keystone, which was the uppermost block placed in the model and held it together. The scaffolding could only be removed when the Keystone was permanently secured. 

 

About The Author

Since 1982, Harry M. McCabe has guided private business owners through the succession process and the most important financial decisions of their lives.

He worked with private business owners as a pension plan administrator and financial advisor, and he assisted many family owned firms with ownership transfers as a trusted advisor.

“I draw upon the collective expertise of various organizations to create tailored solutions for each client without sacrificing my objectivity and client focus,” McCabe explains. “But I’m especially committed to clients who accept the planning process. We look to improve wealth accumulation plans, prepare for the orderly consumption of assets and the eventual efficient distribution of their estate.”

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