Here’s what you’re looking for: August J. Aquila

It’s a culture, not a checklist.

By August J. Aquila
What Makes a Great Partnership

Traditionally, becoming a partner in a CPA firm meant the end of a long, hard slog of grunt work and extended hours. But in today’s competitive environment, making partner is only the beginning of a new chapter of risks and challenges. And the work isn’t getting any easier.

MORE: Eight Criteria for Partnership | How to Achieve Partner Unity | Five Questions to Ask Your Partners about Accountability | How You Can Get Partners to Change | The Seven Building Blocks of a Great Partnership
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Today’s top CPA firm leaders are looking for new ways of building successful, enduring organizations. The culture of collegiality that gave way to a culture of entitlement is giving way to a new culture of performance and accountability.
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BONUS: A basic partner evaluation form.

By August J. Aquila
What Makes a Great Partnership

One major result of the Great Recession is that firms can no longer afford to keep partners who are unable to pay their own way and help the firm grow. I say this because firms have already cut staff to maintain their level of profitability and there is no additional fat to cut. Competition and fee pressure from larger firms in every market continues to put a squeeze on profits. In addition, employment opportunities are surfacing again for the employees in your firms.

MORE: How to Achieve Partner Unity | Five Questions to Ask Your Partners about Accountability | How You Can Get Partners to Change | The Seven Building Blocks of a Great Partnership
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There is only one area left that should be considered for possible cuts, or better yet, for improvements – the partners. As a professional services firm, you are a business. And like any other business, you need to be profitable in order to continue to exist.
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Plus five ways that DON’T work.

By August J. Aquila
What Makes a Great Partnership

I have worked with many firms in helping them build team unity, especially when the firm is undergoing a change in managing partner, merging or just trying to implement its strategic plan.

MORE: Five Questions to Ask Your Partners about Accountability | How You Can Get Partners to Change | The Seven Building Blocks of a Great Partnership
Exclusively for PRO Members. Log in here or upgrade to PRO today.

Everyone knows that partner unity is one of the keys for overall success and sustainability. And, we know the benefits of having greater partner unity than the next firm – better client service, less employee turnover, superior profitability.
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If they don’t want to, why keep them?

By August J. Aquila
What Makes a Great Partnership

Do you ever wonder why your best plan is never implemented? Why some of your partners sabotage what you are trying to do in the firm?

MORE: The Seven Building Blocks of a Great Partnership
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Over the years I have seen firms develop great strategic, operational and compensation plans and then nothing ever happens. The plans are not implemented for a myriad of reasons. One managing partner told me he had too many other issues to address, another was waiting for the management team to give its final blessing and still another just blamed everyone else in the firm rather than looking at himself in a mirror. And, another managing partner even told me the firm could not afford to make the changes!

If you are planning to tackle an issue in the firm and make a change, the first thing you need to do is clarify what the real problem is. Next, describe your overall approach by creating a roadmap. Then you need to gather facts and work together with other partners in the firm. Finally, develop your recommendations and identify the next steps.

“Firms are better at planning than executing.” – August Aquila

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