4
ON THE MOVE CUHACI & PETERSON ARCHITECTS, ENGINEERS AND PLANNERS PROMOTES BRYON MCCARTHY TO PRINCIPAL Bryon McCarthy joined Cuhaci & Peterson ’s Philadelphia office in 2015. Prior to his role of principal, McCarthy held the title of project manager working with one of the firm’s largest program clients in the convenience sector. Chief Development Officer, Jeff Suchan commented, “In the three years that Bryon has been with C&P, he has been an integral component of the growth and client development of the Philadelphia office. Bryon’s strong communication and relationship skills made him a solid choice for this role and he will utilize these skills moving forward as principal.” A graduate of Penn State University with a bachelor’s degree in landscape architecture and contracting, Bryon has more than 15 years of experience in the
more difficult than explaining sex to your teenager. It folds money, control, repetition, reputation, fear, uncertainty and anxiety into a series of uncomfortable conversations that can reveal issues that may take years to resolve. Who wants to bring that up and ruin a good thing, especially when you are at an awards conference with your co-workers? To quote the great J.J Cale, “Money talks, and it says strange things.” It is truly baffling to watch people that have worked together for 15 years, on the same team, sit across from one another and talk about millions of dollars. Aside from the money part, it’s difficult for leaders to cede control. This is perhaps the most trying part of the process. And though these leaders have every right to run their practice as they wish, they are missing a grand opportunity to build value, enrich their team, and create a legacy that outlives their employment. If done correctly, a properly timed transition can generate far more wealth than a haphazard attempt to salvage value and pull the plug over a two- to three-year time frame, which seems to be the preferred MO of today’s leaders. By bringing in new, young talent that wants to grow the business, outgoing owners can cash in on the growth and take a step back from the business at the same time. Planning is key. After seeing dozens of home-baked plans that fail to address all the issues, I can tell you that some things are better left to the professionals, and that includes sex education and structuring ownership transitions. WILL SWEARINGEN is Zweig Group’s director of ownership transition. He can be reached at wswearingen@zweiggroup.com. AEC industry working on a variety of project types. He is also a member of the International Council of Shopping Centers. McCarthy intends to hit the ground running, as he focuses on furthering the firm’s strategic plan and expansion of the retail sector in the Philadelphia office with a new national client in 2019. Cuhaci & Peterson is a national A/E/P firm specializing in commercial design. Headquartered in Orlando, Florida since 1978, the firm also has offices in Philadelphia and Boston and is licensed in 49 states. Cuhaci & Peterson offers architectural, SMEP engineering, fire alarm/protection, lighting design, construction administration, landscape and planning services as well as in-house government relations and interior design on a variety of project types.
ELEVATE AEC CONFERENCE Zweig Group’s Hot Firm & A/E Industry Awards Conference is now the Elevate AEC Conference. Join us for an elevated experience filled with fun, inspiration, and education, with the most successful firms in the AEC industry. This event will be held in Las Vegas on October 2-5, 2019 at Green Valley Ranch. 2019 Conference Full Registration includes: ❚ ❚ All Keynotes and breakout sessions ❚ ❚ Breakfast/Lunch Thursday & Friday ❚ ❚ Thursday Reception ❚ ❚ Friday Red Carpet Reception & Black Tie Awards Gala 2019 Conference VIP Registration includes: ❚ ❚ All Keynotes and breakout sessions ❚ ❚ Special VIP reception Wednesday ❚ ❚ Breakfast/Lunch Thursday & Friday ❚ ❚ Thursday Reception ❚ ❚ Other special VIP only activities and perks ❚ ❚ Friday Red Carpet Reception & Black Tie Awards Gala 2019 Guest Registration of $495 includes: ❚ ❚ Thursday Reception ❚ ❚ Friday Red Carpet Reception & Black Tie Awards Gala ❚ ❚ Guest program and activities Thursday & Friday To learn more or to register, visit bit.ly/1280CON.
WILL SWEARINGEN, from page 3
equity transactions, from ESOPs to mergers and acquisitions, the changing of the guard can take a variety of shapes and forms. This was what we wanted to discuss, and to get input on, with an audience that was invested in the conversation. Being overly analytical, I was worried that our second microphone wasn’t going to work, and people would have a difficult time hearing all the input from the room. Well, this turned out to be a non-issue because only 15 people showed up – out of about 300-something conference attendees! “The AEC industry is notoriously negligent when it comes to real business planning, and that includes preparing for an ownership transition.” Afterwards, I reflected on why the session may not have drawn as many people as the Strategic Planning or Project Management break-outs, and came to this conclusion: Mark Zweig, chairman and founder of Zweig Group, is right. The AEC industry is notoriously negligent when it comes to real business planning, and that includes preparing for an ownership transition. Sixty-seven percent of owners are over the age of 50, and nearly a quarter of them are over the age of 60. Over the next decade this presents a huge opportunity and plenty of problems for AEC firms as leaders try to cash in on their equity. But nobody is talking about it. Why? Because it’s difficult to discuss. Probably
© Copyright 2019. Zweig Group. All rights reserved.
THE ZWEIG LETTER January 21, 2019, ISSUE 1280
Made with FlippingBook Annual report