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Reviewed by Justin Du for Readers' Favorite
David Grau Sr. JD shares 35 years of succession planning experience in Building With The End In Mind. Succession planning is a step-by-step tool that transitions ownership internally to the next-generation owners. Grau not only covers a comprehensive range of methods and tools, but also corrects many misconceptions. Since succession planning takes considerable effort and time, Grau suggests starting it at the beginning of a business. This way, owners can consider it as an option while understanding the full picture. The book is divided into 50 separate lessons, and many concepts connect across lessons, so it’s worth reading more than once. A first reading has given me an overview of the succession planning structure and helped me understand which concepts and tools it includes. From now on, the book will serve as a reference guide, allowing me to delve deeper into specific topics as needed.
While reading Building With The End In Mind, I tried evaluating my self-publishing business based on the insights I gained. I was surprised to find the figure was much higher than I expected. For me, who’s used to relying on monthly royalties, valuing it annually was a huge adjustment. I learned that valuing a business and allocating equity cannot rely on gut feelings, but on well-established decision-making tools, processes, and legal frameworks. As a self-published author, I’ve started treating my business as an asset rather than just a place where I work hard every day. The contents of David Grau Sr. JD's book enabled me to understand succession planning systematically from the ground up. Grau also provides a comprehensive glossary for reference. I already know exactly which friends I’ll be recommending Building With The End In Mind to.
