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When Your Firm Gets Bought Out, Remember That You Are An Asset
When you are in the professional service business, everyone wants to make money from your efforts. When someone buys a mining company, they get mines. When they buy an electric company, they get power stations. When they buy a financial services firm, accounting business or law practice, they get people. People are the assets and those assets have feet. What do you do when your firm is suddenly acquired?
You might find yourself in one of two roles. You are either a revenue producer or you are overhead. Year ago, in the financial services industry, I came across the expression, "Home Office Guy." This abbreviated as HOG. You get the point.
Let us assume you are on the revenue side of the equation. Over in the UK, certain occupations, specifically barristers, accountants and doctors considered themselves as professionals because they did not need to prospect and bring in clients. They were not "salespeople." Here in the U.S., that officially changed when the 2004 TV series Boston Legal had people asking: "How much business are they bringing into the firm" when they considered an associate for partnership.
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