Business development is a determining factor for some firms.
By Marc Rosenberg
How to Bring in New Partners
This is one of the grayest areas in bringing in new partners. It has perplexed CPA firms for decades.
MORE: Sixteen Duties of a Partner | Seventeen Basic Expectations of Partners | The Four Essentials for Every New Partner | Five People to Keep Out of Partnership | Nine Ways to Woo a Prospective Partner | Tell Potential Partners What It Takes
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Here is the typical scenario. The firm has had one or more managers on board for 10 to 20 years. They have made their mark primarily with their technical skills, doing great work with clients, showing tremendous loyalty and work ethic. They generally lack business development and to a lesser extent, leadership skills, but they have become indispensable to the partners, who rely on them heavily to service their clients. The partners would have heartburn if these managers left the firm.
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