They Don’t Want to Be Owners!

Dennis Sherrin: "It is my mission to empower our employees to do great things and reach for more than they think they can while making sure they get the credit and this firm prospers."It may be just a matter of perception. But numbers to draw from are lower.

By Sandra Wiley

There’s a general assumption these days that younger professionals don’t have as much inclination toward, or ability for, firm ownership compared to previous generations.

MORE: The Culture of Continuous Improvement | A Winning Culture Is an Intentional Culture | A Call for Change: An Open Letter to Each Generation
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Data is scarce to support that idea, however. It may be a misperception stemming from factors other than simply desire and potential. When asked, firm leaders young and old express enthusiasm about the opportunities for emerging leaders.

In our discussion of bridging the gap between management and emerging leaders, we would be remiss in not addressing the topic of moving from emerging leader to owner. The perception among many in our profession is that there are fewer individuals at the senior and manager levels who aspire to be an owner, and even when they show a desire, they simply do not seem technically capable. I can find no statistical data that proves this perception but when I ask current partners how many of their own peers actually became owners, the number is low. That indicates to me that there have always been relatively few people entering our profession who ultimately aspire to climb to the partner level.
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The Culture of Continuous Improvement

Industrial metal number 5Implement Lean in 5 steps.

By Dustin Hostetler

Change is never easy, and the accounting profession has often shown a particular resistance to relinquishing traditional patterns. But for those firms that embrace change at all levels through process improvement initiatives such as Lean Six Sigma, the results have been both visible and rewarding.

MORE: A Winning Culture Is an Intentional Culture | A Call for Change: An Open Letter to Each Generation
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When this kind of initiative succeeds, generational conflicts melt away as the shared vision and firmwide efforts unite older and younger team members in their quest for the common goal.
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SURVEY: Getting New Clients in Today’s Competitive Environment

Join the Survey. Get the Results.

Marketing and Business Development: Trends and Strategies

You're invited to join the CPA Trendlines survey on Marketing and Business Development.

As a participant, you'll be the first to see a topline summary of the key findings, giving you and your firm a headstart on the newest trends in new-business success.

Early responses are already suggesting:

  • Sharp upticks in spending and activities in pursuing new business,
  • a swing toward online internet strategies, and
  • more intensive and organized referral networking activities.

But what's the right answer for your firm?

Join the survey to find out.

Join the survey. Get the results.

 

Accountants Across the Generations

Rick Telberg from CPA Trendlines, at left, leads panel, left to right: Deborah Hammett, Adelman, Katz & Mond;  Salvatore Collemi, Collemi Consulting & Advisory Services; Peter Frank, Cornick Garber Sandler; and Jordan Frey, EisnerAmper.

CPAs address inter-generational challenges and opportunities.

Every generation has its own view on what works best in today's environment, according to a multi-generational group of CPAs at a panel discussion hosted by the Accountants Club of America. Rick Telberg, president and CEO of Bay Street Group and of CPA Trendlines Research, moderated the panel discussion. “As professions go, the accounting profession is the most entrepreneurial of them all,” he said. “There are more small firms and solo practitioners by number and by percentage in the tax and accounting profession than in any other licensed profession. This is a profession of entrepreneurs, whether we admit it or not, whether we embrace it or not, whether we know how to encourage it or not.”

The panel included New York-based CPAs: Deborah Hammett, Adelman, Katz & Mond;  Salvatore Collemi, Collemi Consulting & Advisory Services; Peter Frank, Cornick Garber Sandler; and Jordan Frey, EisnerAmper.

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The 10 Fastest-Growing Industries In The U.S.

The race for fast-moving clients.

By CPA Trendlines

If you already have clients in the information technology industries, you probably already know that keeping up with new developments is a challenge.

But do you know about the other nine of top ten fastest growing industries that should be attracting intense CPA firm competition?

According to new data from Sageworks, a financial information company, construction-related businesses make up much of the rest of the list.

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Surgent Launches Webinar Series with All-Star Lineup of Experts

Plent

Telberg joins new Surgent's webinar series.

By CPA Trendlines

CPA Trendlines publisher Rick Telberg is joining Surgent, the continuing professional education provider for CPAs and other accounting, financial, and tax professionals, as a presenter in the new monthly premium webinar series, Surgent Futurecast™, a series of timely, practical 1-hour webinars taught by an all-star cast of leading national tax and accounting experts.

Learn more and register at
Futurecast Webinars

The new series demonstrates Surgent’s mission to go beyond just providing the CPE credits that CPAs and other professionals must earn to maintain their professional credentials; instead Surgent aims to serve as the most reliable and trustworthy source of the ever-evolving practical and strategic information CPAs, EAs, and other tax and financial professionals need to excel professionally.

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