Topic: leadership

Ten Things Every Firm Needs to Make Clear Firmwide

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:

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

The 3 Traits Shared by 150 Top Managing Partners

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:

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

The 14 Rules for What Being a Partner Means

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:

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

Fixing the Partner Entitlement Mentality

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.

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

The Four Keys to Creating a Firm Vision that Unites and Mobilizes

And the eight ways to give core values real business value. By Robert J. Lees and August J. Aquila How to Engage Partners in the Firm’s Future When we talk about having a compelling vision, we don’t just mean the simple, well-crafted statement you find in a lot of firms. For a vision to be compelling, for it to persuade the partners that they want to play an active part in making it a reality, a vision must have four elements:

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

How the Best Managing Partners Lead by Example

Nine questions to test your mettle. By Robert J. Lees and August J. Aquila Creating the Effective Partnership Not every CPA firm can be the market leader. But every firm can strive to be the best at everything they do.

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

Creating a Culture of Trust and Empowerment

How the best managing partners gain commitment. By Robert J. Lees and August J. Aquila Creating the Effective Partnership In the very best firms, the partners debate the options and, while it is incredibly rare for every partner to agree with every single aspect of the vision and strategy, the partners agree to line up behind the ultimate decisions.

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

How to Use Compensation to Keep Partners Engaged

Finding the perfect compensation system By Robert J. Lees and August J. Aquila Creating the Effective Partnership the right things. Every compensation plan should be constructed to help the firm enhance its ability to service clients, achieve its strategic goals and attract, reward and retain the right people. If a firm’s plan does not accomplish these objectives, it needs to be restructured.

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE

Six Questions to Test Your Partner Team’s Performance Management Systems

Goals alone won’t won’t get you there. By Robert J. Lees and August J. Aquila Creating the Effective Partnership Many leaders believe that people remain focused and committed to their performance goals if the goals are clear and compelling. However, that’s not our experience with accounting firms. According to Franklin Covey’s “The 4 Disciplines of Execution: Achieving Your Wildly Important Goals,” team engagement and accountability are necessary to maintain commitment to goals and we are firmly in this camp.

READ MORE → GO PRO FOR INSTANT ACCESS / PRO MEMBERS LOG IN HERE