Especially in these trying times, partners must show leadership by accepting the consequences of their actions – or their inaction. Accountability is the essence of your success, according to management consultant August Aquila, author of “Leadership At Its Strongest: What Successful Managing Partners Do.” “I don’t think that the average partner takes accountability seriously,” Aquila says. “If they did, they would take their individual goals more seriously and not let their fellow partners down.”
By August J. Aquila Author of “Leadership At Its Strongest” Everyone knows that partner unity is one of the keys for success. And we know the benefits of having greater partner unity than the next firm – better client service, less employee turnover, superior profitability. The problem that many firms face is this: They don’t know how to create partner unity. This article shows you: Ways to create partner unity. What it is and what it isn’t. Five steps to take.
Based on 150 top managing partner interviews, authors find four pillars to their success
By Ed Mendlowitz, author of “Implementing Fee Increases“ Question: I haven’t raised my fees in three years. How do I suddenly go about it now and how much should I raise them? Also, I have many business clients where the individual returns are done as part of the yearly service with extra billing. How can I start charging for this?
Options to grow your profits besides raising revenue and lowering costs. By Sandi Smith, CPA Accountant’s Accelerator Many accountants these days are anxious to hit the golden $100,000 mark this year. Others are interested in growing their revenues steadily and incrementally. Still others are focused on lowering costs, raising profits from that side of the equation. More for soloists and small firms: Seven Checklist Secrets for Turning Tax Season into Opportunity Season • How to Stay Energized, Upbeat, and Thinking Bigger through Busy Season • Seven Ways to Wow Your Prospect • Rev Up Your Revenue with These Two Daily Rituals • 10 Tips for Creating More Energy this Tax Season • Take a Cue from Venture Capitalists: Your Firm Needs a Brain Trust [...]
A lesson in leadership from the front lines. By Marc Rosenberg, CPA Author of “CPA Firm Management and Governance.” Tony Kendall is the CEO of Mitchell & Titus, a firm of over 170 professionals, 19 partners and locations in New York City, Chicago, Philadelphia, Newark, Baltimore, and Washington, D.C. Shortly after taking over the reins from the firm’s founder, he orchestrated changes in the firm’s management structure, saying this: “I can’t manage this firm if I have to take a vote every time I want to make a decision.” More on CPA firm leadership and management: What a Managing Partner Is… and Is Not • When Is It Time to Shift Your Firm from Partnership-style to Corporate-style Governance? • De-Bunking the [...]
And 25 best practices to make a merely good managing partner into a great managing partner. By Marc Rosenberg, CPA Author of “CPA Firm Management and Governance.” An increasing number of firms are asking: Do we want the firm managed by a leader, which for a CPA firm is the managing partner, or managed by one or more committees of partners? The fact is, most firms are choosing a strong leader – the managing partner. More on CPA firm leadership and management: What a Managing Partner Is… and Is Not • When Is It Time to Shift Your Firm from Partnership-style to Corporate-style Governance? • De-Bunking the Myth about Niche Marketing for Tax and Accounting Firms • Practice Development Is No [...]
Why some firms decide they don’t want a true managing partner. By Marc Rosenberg, CPA Author of “CPA Firm Management and Governance” Over the years, I have found that many firms lack a clear understanding of what a Managing Partner is. Often, it’s a negative conception, caused by a bad experience at their current firm or a previous one. So, to avoid a repeat of these bad experiences, the partners decide either not to have a MP or to provide for the MP position with greatly limited authority and responsibility. More on CPA firm leadership and management: When Is It Time to Shift Your Firm from Partnership-style to Corporate-style Governance? • De-Bunking the Myth about Niche Marketing for Tax and Accounting [...]
Which is best for your firm? By Marc Rosenberg Author of “CPA Firm Management and Governance.” CPA firm management styles generally fall into two categories: partnership and corporate. For the sake of argument, let’s use the terms “partnership” and “corporate” to describe management styles, rather than legal entities such as partnership, corporation, LLC, etc. More on CPA firm management and leadership for PRO members [Go PRO here]: Not Every Firm Needs a General Patton • Overcoming the Three Biggest Obstacles in Succession Planning at CPA Firms • CPA Firm Merger “Non-Negotiables” • The “Aha Moment” in CPA Firm Leadership • Leadership Is Overrated: It’s Good Management that Makes Successful Firms • 40 Great Ways to Improve Firm Profitability • Four Management Metrics that [...]
But leadership remains crucial to making things happen. By Marc Rosenberg, CPA The author of “CPA Firm Management and Governance.” Every firm asks the question, at one time or another: Do we want the firm managed by a leader, which for a CPA firm is the managing partner, or managed by one or more committees of partners? More on CPA firm management and leadership for PRO members [Go PRO here]: Overcoming the Three Biggest Obstacles in Succession Planning at CPA Firms • CPA Firm Merger “Non-Negotiables” • The “Aha Moment” in CPA Firm Leadership • Leadership Is Overrated: It’s Good Management that Makes Successful Firms • 40 Great Ways to Improve Firm Profitability • Four Management Metrics that Fool Even the [...]
Not when, but how? Question: I want to improve my firm’s review and quality control. Do you have any suggestions? Ed Mendlowitz responds: This is a recurring issue for most firms. Every CPA practice needs quality control. The issue is whether a dedicated quality control (“QC”) person is needed and, if not, how the QC can be done without one. A practice is a business and every business must be run efficiently and profitably. QC is an area that I have found many firms getting tied up in and either spending nothing or much more than they should. More Ed Mendlowitz: FREE INSTANT DOWNLOAD: Sample fee schedule for 1040s | Tax Season Opportunity Guide 2013 | 12 Reasons to Love [...]
This busy season will test new processes – and a firm’s leadership. [How are accountants feeling about about busy season? Join the survey; get the answers.] by Dustin Hostetler Flowtivity As many firms get ready to implement and leverage new and improved processes as busy season ramps up, I thought It’d be worth considering a few pointers for the partner leadership group to keep in mind over the next several months. RELATED: The Coming Storm in Staff Turnover (VIDEO) | Three Strategies to Improve Buy-In for Change And I should probably add a disclaimer to take the accounting hats off for a minute and realize this isn’t an exhaustive list nor is it literal in every example. There are always [...]
Plus: A dozen deep thoughts on leadership vs. management in accounting firms. by Marc Rosenberg, CPA Author of “CPA Firm Management and Governance” While the differentiation of management from governance is really an issue of professional jargon, a discussion of “management vs. leadership” is a more substantive matter. During my 30-plus year career in the business world, I have read many books and articles and heard many speeches on these two subjects that are near and dear to my heart. More on CPA Firm Management and Leadership: 40 Great Ways to Improve Firm Profitability • Four Management Metrics that Fool Even the Best-Run Firms • 19 Ways to Improve Accounting Firm Profitability • De-Bunking the Myth about Niche Marketing for Tax [...]
Success comes to those who go out and find it. by Nick Keseric So what’s wrong in being upbeat and positive? Nothing at all. This is not about rose colored glasses. More on the entrepreneurial accountant: Nine Bridges to Cross in Business Development for Accounting Firms | If Business Development Is a Circus at Your Firm… | My Attitude??? What’s Wrong with My @#$%! Attitude? | Curious Minds Want to Know: Are You Helping or Selling? | The Six-Step Roadmap for CPA Change Agents | 20 Biz Dev Ideas for Your Career and Your Firm | Given today’s world, if you are waiting for good things to happen to you, you better get a comfortable chair because that train isn’t [...]
Making the partnership work seven ways to Sunday. by Marc Rosenberg, CPA Author of The Rosenberg MAP Survey Sometimes a parting of ways is best because the partners are simply incompatible. People change. Their values change. Their priorities change. When these changes become so huge as to produce constant conflict, it may be best to shake hands and part ways. More Marc: • Pick Your Partners Right to Begin With • The First Nine Questions Your Partner Team Needs to Embrace for Optimal Profitability • Profitability and The Value of Strategic Thinking • The Five Essential Building Blocks for Creating a Strong Accounting Firm • The Seven Signs of Great Leadership in a CPA Firm • Compensation Issues for the [...]