G2
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Content
Preface
Acknowledgments
Chapter 1 Who Are G2?
Defining G2
Developing the Next Generation Is Critical
Just Hiring Them Is Not Enough (But Start There)
What G2 Professionals Need
G2 Needs to Take Over Client Relationships
G2 Are the Future
Chapter 2 The Career Track
The Advisory Career Track
Non-Client-Facing Career Tracks
Progressing through the Career Track
Being Flat
Top Performers
Reaching the End of the Track
Chapter 3 Recruiting G2
Beginning with the End in Mind
Hiring Levels
Becoming the Employer of Choice
Advertising
Recruiting in Small Markets
Screening
Interviewing
Opportunistic Hiring
Experienced Hires
Chapter 4 Taking Over Client Relationships
What Is a Lead Advisor?
Qualities of a Trusted Advisor
Transitioning the Lead to G2
Chapter 5 How Advisory Firms Develop New Business
The Business Development Process
When and How Clients Act
Existing Clients as a Referral Source
Some Theories about Referrals
Other Referral Sources
Beyond Referrals
The Simple Mathematics of Reputation-Based Selling
Principles of Business Development
Chapter 6 Be a Business Developer
The Four Stages of Learning to Develop New Business
Solving a Puzzle
Finding Your Mentor
Learning to Ask Questions and Listen
Finding Your Specialty
Developing a Niche
Following a Disciplined Process
Be Persistent
Chapter 7 Managing People
Defining Management
Prioritizing Management and Communication
Accepting Responsibility
Providing Feedback
Dealing with Poorly Performing Team Members
Performance Evaluations
Being a Mentor
Chapter 8 Managing Up
Speaking Up
Getting Involved
Taking Responsibility for Your Team
Supporting Your Colleagues
Measuring Your Criticism
Managing Your Own Expectations
Chapter 9 Managing Yourself
Defining Balance of Life
Balancing Time
Dealing with Weaknesses
Thoughtful Communication
On the Value of Conflict
Looking at Your Own Plate
Chapter 10 Owner, Manager, and Leader
Defining Owner, Manager, and Leader
Management
Leadership
Chapter 11 Adding Owners: The Firm Perspective
Criteria for Ownership/Partnership
Admission Process
Adding Family Members as Partners
Laying the Foundation for New Partners
Tackling Buy-In Financing and Valuation
Onboarding Partners
Chapter 12 Buying Equity: The G2 Perspective
What Does It Mean to Be an Owner?
Key Questions to Ask
Should You Buy Equity?
The Characteristics of Equity
Understanding Your Ownership Agreement
Small Firms and Family Firms
Owner Compensation
What If the Ownership Agreement Isn't Right for You
Understanding the Valuation and the Price
Organizing Your Personal Finances
Beyond the First Purchase
Chapter 13 The Ownership and Governance Foundation for G2
Career Investment
Stability and Governance
Elements of Governance
Governance as a Function of Size
Reviewing Your Governance Model
Achieving Results
Chapter 14 Succession
Different Aspects of Succession
Internal Succession of Ownership
Finding the Motivation
The Big Transaction
A Large Number of Small Transactions
Passive Ownership
The Intermittent Transaction
Equity-Based Compensation
Profits Interest Options
Nonvoting Shares
Synthetic Equity
Mergers Facilitating Succession
Creating a Permanent Firm
Chapter 15 Keeping Up with the Industry
Being a Student of the Industry
Developing Your Industry Connections
Benchmarking Your Client Services
Learning Best Practices
Participating in External Training
Contributing to the Industry
Chapter 16 Conclusion
From G2 to G3
A Note of Optimism
Bibliography
About the Author
Index
