How to fine-tune your management dashboard for effectiveness, innovation and growth. By August Aquila Creating the Effective Partnership Don’t kid yourself – It’s a new world out there. Accounting firms need to become more transparent. Partners and employees need to truly understand the firm’s vision and value proposition. They need to see how their daily actions move the firm toward its goals. Mission and vision can no longer be vague, fluffy statements that mean nothing to your clients, employees and partners, and prospects. This new environment requires firms to actually implement their goals by looking at specific objectives and measures. Performance and execution are the key operatives. The old measures, by themselves, won’t do the job anymore. They are still […]
Take Gallup’s 12-question leadership test. After using many different varieties of opinion survey, the Gallup Organization came to the conclusion a few years ago that the responses to just 12 questions can show why one organization, division, department or any other managerial unit is happier and more profitable than another. On a scale of 1 to 5, with 1 being “No, or rarely,” and 5 being “Yes, mostly,” how would you score?
How to integrate two firms after a merger: carefully. By August Aquila Creating the Effective Partnership The tough negotiations and hard-fought agreement were the hard parts, right? Think again. Now you must move your eye from the financial to the human side of the merger. Your work has just begun and may last for 12 months or more. In order to make sure your merger has a better than average chance of succeeding, here are at least two dozen questions that need to be answered:
By Sandi Smith Leyva The Accountant’s Accelerator When I look through Accounting Today’s Top 100 Leaders list and the comments they have made about what they perceive to be the challenges in our profession, many of the answers are the same: change, talent and relevance are a few you’ll see. And they are all right to some extent, but there is a deeper systemic problem that I think could fix quite a few of these in one swipe. I’m not saying it will be easy, but it is a fairly straightforward problem once diagnosed. The most interesting part is that the smallest firms are getting better at solving this than the larger firms.
Plus: The 8 leadership traits driving firms toward destruction and 3 steps to fix the problem. By August Aquila Creating the Effective Partnership Many accountants could add to this list, but here are some of the surefire signs that a firm has weak leadership driving the firm toward implosion. The way partners resolve issues is by finger pointing The firm is in a spiral downward trend
The main categories of information for internal communications and management. By Bruce W. Marcus Professional Services Marketing 3.0 While the substance of information varies from firm to firm, there are 10 categories that cannot go unconsidered:
What successful managing partners do By Robert J. Lees and August J. Aquila How to Engage Partners in the Future The problem is that in the majority of CPA firms there is no clarity around what being a managing partner actually entails and, specifically, what managing partners should do to create and sustain their partners’ commitment to actively participating in delivering the firm’s future. Our research involving in-depth interviews with 150 managing partners at the world’s leading firms identified that the truly successful managing partners share three key activities:
Plus: 4 keys to tie pay to performance. By Robert J. Lees and August J. Aquila How to Engage Partners in the Future Partners are the culture in a professional service firm – what they believe, what they reward, what they do and how they do it determines what and how things get done. Partners are the owners – they, and they alone, are responsible for the firm’s vision and its implementation. Being a leader means each partner must:
Nine reasonable entitlements and 15 misconceptions, bad ideas and outright abuses. It’s a privilege to be a partner in a CPA firm. Not an entitlement. Too many partnerships seem to operate as if they had it the other way around. And, in most cases, those partnerships don’t usually make the best CPA firms. Marc Rosenberg has seen his share of dysfunctional firms. They are no better nor no worse than the people who run them. Get these 24 points of partner roles and responsibilities correct and your firm could find a renewal in spirit and in growth.