Profitability Requires Discipline

19 basic principles to improve operations … but don’t treat them like “flavor of the month.”

By Domenick J. Esposito
8 Steps to Great

We all know that improving profitability on a sustained basis generally is a long-term play that requires significant planning, discipline, accountability, implementation and patience.

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Unfortunately, the senior partners at many small and mid-sized CPA firms do not possess all of these attributes and therefore are unable to make significant strides in their bottom-line distributions to their partners. While it’s an uncomfortable scenario, it’s reality and almost understandable as many small and midsized CPA firms are thinly managed and do not have the leadership that is necessary to change the inevitable path of merging up.