By August J. Aquila and Robert J. Lees
Creating the Effective Partnership
Although the whole purpose of engaging the partners is to commit them to the firm’s future, they also have to see a personal upside in the final destination. That upside can take many forms but it has to be spelled out. It’s critical that the descriptions are honest. Smart people quickly stop trusting their leaders if they believe they are being lied to or the downsides glossed over.
Creating the Effective Partnership: The 9 Building Blocks of a Winning Vision that the Big Four Have Discovered | The Politics of an Accounting Firm Partnership | Nine Rules to Creating Highly Effective Partnership Teams | Audacious Vision and Grand Purpose Prove Essential to CPA Success | Are You Creating a Sustainable Firm? | The Debilitating Effects of Denial at Accounting Firms | The Five Psychological Hurdles that CPA Firms Must Confront Today
If, for example, achieving scale is achievable only through a merger, the likely impact of the merger on partner earnings must be addressed. Smart people know that earnings may be flat, or even drop, in the short term. The key thing is that the upsides to both the firm and the partners make the initial sacrifice worthwhile.
TO READ THE FULL ARTICLE
