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By Robert Jones | Government contractors in AEC must understand and follow GAAP to meet compliance standards, secure contracts, and ensure accurate financial reporting.

By Will Swearingen | Selling your firm requires early, intentional prep to maximize valuation, avoid risks, and ensure successful transition.

By Stuart McLendon | This strategy is becoming an essential tool for growth, innovation, and resilience, especially in AEC.

By Dathan Gaskill | Fractional CFOs offer flexible, expert financial guidance to help AEC firms grow, reduce risk, and improve efficiency.

By Kyle Ahern | What high-profit 2025 Best Firms To Work For do differently to earn employee trust, loyalty, and performance.

By Mark Zweig | It’s time to take some action inside your business; do these 10 things now to be ready for whatever lies ahead.

By Will Swearingen | A well-thought-out, proactive plan is essential for ensuring the long-term success and sustainability of your firm.

By Mark Zweig | Balancing growth and profitability is essential for long-term value creation and success in AEC firm valuation strategies.

By Ezequiel Tovar | The decisions you make today will have monumental impacts on your next generation of owners tomorrow.

By Ezequiel Tovar | Engaging with employees at all levels fosters respect, uncovers issues, and strengthens company culture.

By Mark Zweig | We live in turbulent times, and you can never fully eliminate uncertainty – but there are several approaches you can employ to combat it.

By Mark Zweig | Firm owners should consider adding key employees to ownership for motivation, transition planning, and financial strength – before it’s too late.

By Ezequiel Tovar | Deciding what you will do with your firm, whether you decide to sell internally or externally, will be life-changing.

By Ezequiel Tovar | What qualities give founders peace of mind and the necessary trust to hand over the reins of their business?

By Will Swearingen | The 2024 Valuation Report highlights strong AEC industry performance and essential metrics for firm leaders.

By Mark Zweig | Entrepreneurial firm owners understand that marketing is an off-balance sheet long-term investment in the firm’s future.

By Ezequiel Tovar | In turbulent times, strategic capital allocation is crucial for firm survival.

Zweig Group announces the release of its 2024 Valuation Report of AEC Firms, marking more than three decades of commitment to providing the AEC industry with comprehensive valuation data and analysis.

By Liisa Andreassen | Senior principal and president of 19six Architects (San Luis Obispo, CA), one of the oldest and most established architectural firms in California.

By Kyle Lawson | Modern chief financial officers have evolved from controllers to multi-faceted strategic catalysts.

By Ezequiel Tovar | You must consider the financials before you can fully understand what it takes for a succession plan to be feasible.

By Travis White | The benefits that come with being a growth-focused firm far outweigh the risks.

By Mark Zweig | Becoming an owner in the firm you work for means you are making a total commitment – don’t make it carelessly.

By Alec Russell | The Zweig Index reports on 11 of the AEC industry's leading firms on a monthly basis. This installment details the financial standing of Jacobs.

By Ezequiel Tovar | The four pillars of ownership transition strengthen your firm and provide a foundation for success.

By Alec Russell | The Zweig Index reports on 11 of the AEC industry's leading firms on a monthly basis. This installment details the financial standing of Bowman.

By Adrian De la Garza | Insights and considerations that can help you decide if you’re ready to buy another firm.

By Will Swearingen | How does your firm’s financial performance stack up against the rest of the AEC industry?

By Mark Zweig | There are some things AEC professionals must learn about business in order to be successful.

By Alec Russell | The Zweig Index reports on 11 of the AEC industry's leading firms on a monthly basis. This installment details the financial standing of NV5.

By Liisa Andreassen | CEO of Verdantas (Dublin, OH), an environmental, engineering, and technical consulting company with global perspective.

By Andy Chavez | The Zweig Index reports on 11 of the AEC industry’s leading firms on a monthly basis. This installment details the financial standing of Stantec.

By Andy Chavez | The Zweig Index reports on 11 of the AEC industry’s leading firms on a monthly basis. This installment details the financial standing of AECOM.

By Andy Chavez | The new and improved Zweig Index will report on 11 of the AEC industry’s leading firms on a monthly basis. This installment details the financial standing of Atlas Technical Consulting (ATCX) as of...

By Ezequiel Tovar | These continuing education opportunities offers valuable insight into what makes successful AEC firms stand out from the rest.

By Mark Zweig | The future will be here before you know it, so there is no time to delay your ownership transition planning efforts.

By Dathan Gaskill | Committing to this will make your firm safer, more resistant to adversity, and change cashflow and profit for the better.

By Liisa Andreassen | President and CEO of DOWL, LLC, a firm that offers a wide range of engineering services to public and private clients, from the Arctic Ocean to the Rio Grande.

By Liisa Andreassen | Co-founder of Juniper Design+Build, where award-winning design and advanced construction ensures beautiful and environmentally responsible projects.

By Mercedez Thompson | It’s worthwhile to continue conversations around what marketing is and is not and why it’s critical to your bottom line.

By Mark Zweig | The payoff is a more valuable company that is healthier and provides more opportunities for its employees.

By Liisa Andreassen | President of Mancini Duffy, a national design firm based in NYC with a 100-year-old history and tech-forward approach specializing in architecture, planning, and interior design.

  In this episode, Jamie Claire Kiser – Managing Principal and Director of Advisory Services for Zweig Group – discusses the current state of M&A affairs in the AEC industry. Jamie Claire originally joined Zweig...

By Will Swearingen | A clear understanding of how your firm will be managed after a large shareholder’s exit can greatly increase success going forward.

By John Bray | Approachable steps you can take to prepare for a potential acquisition down the road, and why it’s never a bad idea to take them.

By Mark Zweig | Entrepreneurs and small business owners have fundamentally different views on the opportunity each has in front of them.

By Mark Zweig | There are 10 things practically every firm in this business should do but won’t. If you try these things, your firm will be more successful.

Chairman and CEO of Nabholz (Conway, AR), a 1,200 person multi-discipline, employee-owned firms whose name has been synonymous with integrity since its founding in 1949.

By Will Swearingen | Don’t let the concept of treasury stock cloud your transition strategy.

By Mark Zweig | Many owners fail to understand how much value they can create in their companies if they make the right decisions.

By Jamie Claire Kiser | Despite the challenging environment, there are tremendous opportunities to be had.

Founder of edg (New York, NY), a technology-driven firm that leverages the power of software and equipment to deliver higher quality projects in less time.

Managing principal of Woodblock Architecture (Portland, OR), a firm that sees each new project as an opportunity to create something awesome and build new relationships.

President and CEO of Ramey Kemp & Assoc. (Raleigh, NC), a transportation engineering, planning, and design firm founded in 1992.

“There are many ways to ‘cook the books’ so they show certain results. Here are some typical problems that we see showing up in the financial statements of A/E firms.”

When she’s not enjoying the great outdoors, Tracey Eaves is finding share value for firms that are either preparing to be acquired or are planning an internal transition.

As Zweig Group’s director of executive search, Chad Coldiron’s passion is connecting top talent with AEC firms.

“I find that using some of these other ‘screens’ can actually lead to greater success in buying.”

It’s important to understand your business model and the various outside factors that can affect the execution of an ESOP transaction.

“What causes AEC firms to fail? I have been a student of this business for 39 years now. Here’s what I have seen.”

CEO of TLC Engineering Solutions, an Orlando, Florida-based firm pushing its way into the future.

President and CEO of Hitchcock Design Group (Best Firm Architecture #7 for 2018), a 35-person landscape architecture firm headquartered in Naperville, Illinois.

President and CEO of CME (Hot Firm #36 for 2018), an engineering firm headquartered in Connecticut that refuses to be affordable and mediocre. By Liisa Andreassen Correspondent “If we cannot grow fast enough to provide...

Undisciplined growth, poor people focus, low financial performance, and a weak capital structure can sink a firm – even big ones with brand names. I’ve been working with several colleagues for the past four years...

When you look at principals of firms in this business who are really happy and successful – who have growing, profitable companies – you’ll see certain common traits that emerge. Here are a few of...

President and CEO of Morrison-Maierle (Best Firm #27 Multi-discipline for 2017), a 280-person firm based in Helena, Montana. By Liisa Andreassen Correspondent “It’s vital to our success,” Murphy says, referring to entrepreneurship in the firm....

Each week, The Zweig Letter features commentary from top-flight leaders of AEC firms. Here is a compilation of their thoughts on maintaining the leadership pipeline. By The Zweig Letter Staff Nic Andreani, president with W&M...

Co-founder and president of BHC Rhodes (Hot Firm # 15 for 2017), a 130-person civil engineering firm based in Overland Park, Kansas. By Liisa Andreassen Correspondent “Profit centers go against the dynamic of a team...

Change can be difficult, and sometimes it can feel punitive, but it’s crucial to the process of leaving those bad yesterdays behind. I’m a student of Lyndon B. Johnson. Being the father of a seventh-generation...

There are a few ways to transition out of your firm. The internal transition is popular because it has great value and keeps the firm going. At some point in every A/E firm owner’s business...

Chairman and CEO of David Evans and Associates, Inc. (Hot Firm #93 for 2016), a 1,000-person engineering firm based in Portland, Oregon. By Liisa Andreassen Correspondent Barkouli joined DEA in 1988 as an engineer-in-training. He...

So many firms want to be at the top of the list for growth, but to get there, you have to be good, not necessarily fast. There is much hullabaloo made in our industry about...

Attention to performance metrics can enhance business value, so you might try using a few new financial ratios in your spreadsheets. For those of you involved with firm financial management, you expect to regularly review...

Jamie Claire, Zweig Group's director of consulting looks at valuation from a merger & acquisition perspective: EBITDA is the most common valuation metric in M&A, but I agree with Warren Buffett - “When CEOs tout...

President and CEO of Pennoni (Hot Firm #48 for 2016), a 1,250-person engineering firm based in Philadelphia, Pennsylvania. By Liisa Andreassen Correspondent “One recommendation for leadership in a firm is a better working knowledge in...

Getting the information you need on how to run your business in a timely manner is an absolute requirement for survival and success in the A/E business today. As business owners this has to be...

President and CEO of Universal Engineering Sciences (Hot Firm #85 for 2016), a 715-person multi-discipline firm based in Orlando, Florida. By Liisa Andreassen Correspondent “We make a distinction between marketing and sales,” Israel says. “We...

President of CMTA (Hot Firm #2 for 2017), a 250-person consulting engineering firm, and a leader in net-zero energy, based in Louisville, Kentucky. By Liisa Andreassen Correspondent “I think it’s important not to micro-manage people,”...

After 37 years of working in one industry, you eventually become aware of just about every bit of what passes for “conventional wisdom” in this business. Some of it may seem logical on the surface...

Valuation formulas are subject to many influences, so it helps to periodically test them out to make sure they yield accurate results. Many firms in the A/E industry are attracted to using a “valuation formula”...

The transition from boomers to millennials is going to happen anyway, so put in a good-faith effort and make it a positive experience. By 2020, 50 percent of the U.S. workforce will be millennials. In...

Install rigorous controls with your PMs when it comes to the average collection period, and watch the money flow back into your accounts. As 2016 fades into the past and we prepare the year-end analysis,...

The 2017 Financial Performance Benchmarking Tool is an excel based tool developed to help firm leaders make real-time decisions that impact firm performance and profitability. The 2017 Financial Performance Benchmarking Tool will help you: Compare...

Should you buy a firm or sell yours? That’s the question, and regardless of the answer, there’s a lot that goes into a successful merger or acquisition. In the ever-evolving AEC industry, both large and...

Sounds like a straight-forward question, but it’s not. There are multiple metrics that can be used to determine a firm’s value. What’s the firm worth? I hear that question more than any other, from buyers...

Sounds like a straight-forward question, but it’s not. There are multiple metrics that can be used to determine a firm’s value. What’s the firm worth? I hear that question more than any other, from buyers...

By Mark Zweig | Many folks working in firms in the A/E/P and environmental consulting industry don't understand commonly-used financial terminology. How can you blame them? If no one ever explained it to them you...

Today’s workforce is multigenerational, so those with experience and seniority must learn to understand, and teach, younger colleagues. I was born in 1944, a couple of years before the Baby Boom. But my values and...

Your employees will work harder if they’re enthusiastic about their role in your firm; here are some tips to make that happen. As firms finalize their strategic plans for 2016, we hear a consistent desire...

Taking the time to get these 8 items in order might make all the difference when seeking a buyer for your business. A lot of us don’t want to plan for it. We don’t even...

There are a few basic traits that differentiate firms that make money from those that scrape by. Chad Clinehens and I were talking in the office yesterday about why some firms we work with make...

Mark Zweig offers five suggestions on how to stay out of trouble and in the black. One of the greatest challenges is keeping your business profitable. It’s easiest when you’re growing. Revenue is going up...

Are you investing in consistent, brand-building marketing activities, Mark Zweig asks. Let’s face it. Living too well can be a problem. I’m talking about eating your seed corn, spending too much, and not reinvesting in...

Smart investments and ability to effectively manage debt are key to success at these firms. By Christina Zweig What are fast-growth firms doing differently than their competitors in the A/E/P and environmental consulting industry? We...

Technical professionals are affected by failure too. Mark Zweig offers four examples. Many people think engineers and architects don’t really care about whether or not the company they work for is profitable. “They just want...

This article first appeared in The Zweig Letter (ISSN 1068-1310) Issue # 994 Originally published 2/11/2013 Most architects and engineers never studied how to run a business, so the issue of governance becomes increasingly complex...

Press Release: November 8, 2011 FAYETTEVILLE, Ark. (November 8, 2011) – Take cue Apple. Holding on to too much cash can be perilous for business enterprises, not the least design firms. An article in the...

Press Release: July 22, 2011 FAYETTEVILLE, Ark. (July 22, 2011) –ZweigWhite has consolidated and branded its internal consulting team which manages mergers, acquisitions, valuations, and ownership transition under the new moniker, MAVALOT. Right now these...

By Tracey Jeffers Principal, Valuation Consulting ZweigWhite If you are involved with financial management at some level in your firm, you expect to regularly review the typical balance sheet and income statement. A smaller percentage...

By Hobson Hogan Just as the proverbial third wheel, the statement of cash flows gets summarily skipped over by management. In earnings calls, CFOs spend time talking about sustainable earnings and strong balance sheets. Where...

By Mark C. Zweig There is a lot of interest in buying and selling firms these days. We are even having six seminars/conferences on M&A this year. Our investment banking group at ZweigWhite has never...

By Tracey D. Jeffers Cash and accrual methods each have their pluses and minuses. Editor’s note: This is the second of a two-part series. In her first article (The Zweig Letter, Feb. 21, issue 899)...

1. Buy-Side Representation ZWEIGWHITE has been focused on business management services, research and information for architecture, engineering and environmental consulting firms since 1988. As such, we are uniquely qualified to find the right business(es) to...

By Tracey D. Jeffers One component to a successful banking relationship is having a good understanding of your financial statements. Your ability to readily and intelligently answer questions posed by a banking professional gives loan...

Press Release: December 30, 2010 The down economy presents many real estate options for the small business owner; but the tight A/E/P and banking climate might prove too difficult for many businesses to grasp the...

The A/E/P and environmental consulting business is about to experience an unprecedented period of consolidation. With so many firms struggling, there will be plenty for sale. And those companies that have profitable operations and strong...

Probably no one warned you before you started your A/E/P or environmental consulting firm about the slipperiest of slippery slopes— one you don’t want to go down— that of not paying your bills on time....

As the economy gets worse, and panic sets in amongst the management of too many A/E/P and environmental firms, mistakes will be made that are difficult to recover from. I’m referring to decisions such as...

While accounting is widely accepted as the “language of business,” the knowledge of it in a typical architect, engineer, planner, or environmental scientist does not even reach a rudimentary level. You have to know the...

Regardless of how you feel about the results, the national, state, and local elections are now over. Yea! We can move on with our lives and get back to business. Lord knows many A/E/P and...

When things get ugly in a firm— as they tend to do when the firm’s financial status takes a downturn— you’ll often see fights break out. Some principals form factions with other principals or principal...

The balance sheet in an A/E or environmental firm is supposed to show what you have and what you owe. The difference between the two is the “net worth” of the company. It all sounds...

After 28 years of working with architects and engineers who are either sole or part owners in their firms, I can honestly say that these folks are deficient in their knowledge of rudimentary finance and...

If you look at why most A/E firms just sort of muddle along, and yet a few are growing by leaps and bounds, you’ll find the “secret ingredient” in the growing firms’ recipe is often...

Everyone who starts a company or ends up as its leader eventually starts thinking about how to get out. You may have the greatest job in the world, but life is short and most of...

Now that A/E/P and environmental consulting firms have been doing business plans regularly for the past 10 or 15 years, it may be time to beef them up a bit. The old platitudes, goals, and...

For this, our annual “A/E Firm of the Future” issue, you will see a lot of predictions. Therefore, I thought I would throw in my two cents’ worth of predictions on what that firm of...

For each of the past five years since we created The Zweig Letter Hot Firm List, there have always been readers out there who write in to ask why we are so obsessed with growth...

On the one hand, it would be easy to get negative and discouraged about the current business climate. The war efforts are dragging on with no clear end in sight. The Middle East, in general,...

Turning around an A/E or environmental company that is not doing as well as it should be doing takes an artful leader (or bunch of leaders). If you take a closer look at these transformations,...

Davis Grey was the new man at the top of Frinklemore-Datuna Associates. He had been hired by Charlie Datuna a couple years ago with an understanding that at some point, Davis would be in Charlie’s...

Let’s face it. The economy of the last couple of years has led to diminished expectations and in some cases, declining values, not just in our 401(k) plans and stock portfolios, but also in terms...

Right now may be the best time ever to go out and buy another firm. People are depressed, their sense of optimism is considerably dimmer, and many A/E/P and environmental firms are performing accordingly. That...

I am sitting here this morning, in our Natick office, staring at my computer. I need to write a talk for our upcoming Zweig Letter Hot Firm 2002 Conference and Celebration in Boston. I am...

I had a 56-year-old client say to me the other day that he just isn’t having any fun anymore. He wants to change his life, and he had decided to sell his firm so that...

As hard as it may seem to believe, 1999 is already wrapping up. We’re into the last quarter of the year now. Over the next couple of months, many A/E/P and environmental firms will be...

I don’t mind telling our readers that it’s a great feeling to have a vehicle such as The Zweig Letter to share my thoughts so widely. Along with that comes a certain responsibility not to...

We just got back from the 15th Annual Inc. 500 Conference and Award Ceremony held in Philadelphia. Zweig White & Associates made it onto Inc. magazine’s list of 500 fastest-growing privately held firms for the...

One of the principals of a firm I have been acquainted with for a couple of years called the other day to tell me he had just left a board of directors’ meeting where they...

Not much gets someone who works in an A/E/P or environmental firm more upset than unnecessary bureaucracy. I’m talking about stupid forms to fill out, channels to go through, or steps to take that don’t...

We often run into firms that need help turning things around. The scenario usually includes some combination of the following: Principals/top managers who aren’t billable. Excess debt caused by poor collection of accounts receivable. Owners...

When you hear the word “elitism,” it usually strikes a negative chord. Used in the context of describing an A/E/P or environmental consulting firm, the first thing that comes to mind is: “They think they’re...

I am continually reminded of the bizarre sense of risk some principals in A/E/P and environmental firms have. I am talking about the obsession so many principals seem to have about extracting as much as...

Ever been house hunting? No matter what you can afford, it’s never enough. Especially with the appalling things some people will do to their homes. I’m not just talking about starter homes (here in Boston,...