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And 12 things that should.

by August Aquila

The purpose of the retreat should be clearly thought out early in the year. Articulate one or two goals for the retreat. You need to be very specific as to what you want to accomplish. For example, the purpose of the retreat is to develop a succession plan for the firm. You many not know exactly what it will look like, but you know what the end product of the retreat will be.

If you cannot do this, don’t hold the meeting. Ask yourself this one question: “What would happen if we did not hold this retreat?” If the answer is “nothing,” you’ll know what to do.

Retreat Topics

Let’s look at common retreat topics that should not be discussed at a retreat. You may or not agree with the list, but I urge you to strike the following items from your retreat agendas.

1. Partner compensation allocation (but not creating a new compensation program)

2. Staff compensation/benefits

3. Staff recruiting

4. New partner admittance

5. Role of the firm administrator

6. Evaluation of partners/personnel issues

7. Setting up next year’s budget

8. Discussion of the firm’s marketing plan

9. Analysis of financial results

10. Billing and collections issues

11. Quality control

12. Time and stress management

While you will find these items on most pre-retreat questionnaires, it does not mean you need to address them at your retreat. They are better served being addressed at monthly or quarterly owners’ meetings. You don’t need to go off site and incur both out of pocket and opportunity costs just to discuss these items.

If you are not going to discuss these items at the retreat, then what should you discuss? Address critical business issues that are seldom discussed throughout the year. Here’s a short list of questions to consider for your pre-retreat questionnaire:

1. What is the number one issue facing the firm’s long-term survival?

2. How do we need to change to overcome this issue?

3. Which business critical processes do we need to improve?

4. How should we improve them?

5. What do we need to do to remain a growth and learning organization?

6. How should we change the way we produce our work product to improve client satisfaction?

7. What has been the number one reason for our success?

8. Will it hold true in the near or distant future?

9. What concerns or questions do you have about the firm’s succession plan?

10. For senior partners only: What are your primary concerns? (Funding retirement, selling the firm, etc.). Senior partners have different concerns from younger partners

11. For junior partners only: What are your primary concerns? (E.g., how large would they like to see the firm become? What should the future ownership of the firm look like? How will the firm pay retirement benefits?)

12. What are your views on mergers, acquisitions, and consolidators?

Send the retreat questionnaire well in advance of the retreat. This gives owners sufficient time to think about the issue and provides management the necessary time to select the most important topic.

August J. Aquila is the CEO of AQUILA Global Advisors, a full-service consulting firm for CPAs and professional services firms. August is a frequent retreat facilitator. He can be reached at aaquila@aquilaadvisors.com or 952-930.1295. (www.aquilaadvisors.com)

Posted August 27, 2009
Related Topics: growth strategy, leadership, management, partner, strategy