By Marc Rosenberg
Author of “CPA Firm Management and Governance.”
Managing the firm, rainmaking, client management. All vie for the managing partner’s time.
Statistics from The Rosenberg Practice Management Survey show:
|Firm Size||Annual Billable Hours||% MP to All|
|Managing Partner||All Equity Partners|
Armed with the above, my experience with firms would indicate that the managing partner’s time is spent as follows:
|Managing the firm||54%||38%||21%|
Managing a large client base and doing billable work that can be delegated to other partners are activities that the best managing partners avoid or minimize. They see the following as their main focus:
- Manage the firm.
- Bring in business.
- Assisting at a very high level in overseeing the firm’s largest clients and participating in sales pitches for new, large clients.
- Very small number of billable hours, limited to sophisticated consulting projects with large clients.