Are You an Ostrich or a Giraffe?

Ostrich and GiraffeAre You an Ostrich or a Giraffe?

By Lee Eisenstaedt
Leading With Courage Academy

There are leaders of CPA firms who think everything is right with the world, from their client relationships to their people.

How do they know for sure? Well, they don’t. There’s been no study or feedback or hard data to go on.  Based on their years of experience, they just know…somehow.   It’s the rare ones who have conducted a client survey to uncover festering problems they are unaware of. However, many choose to close themselves off from the truth and continue to operate in the same fashion as if nothing were happening.

Then there are those firm leaders who have a clear view of what is working well and what is in dire need of improvement. This type of leader understands that if left unaddressed the urgent problems will remain and, in all likelihood, result in operational breakdowns.  This may involve serious costs to the firm.

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The True Measure of Practice Growth

Yellow retractable steel tape measureThe three critical questions you should be asking.

By Lee Eisenstaedt
Leading With Courage Academy

Question: Is your firm really growing as much as you think?

You probably celebrate when you win a new client, but what do you do when you lose one? Which leads to this little exercise... What are your revenues and profits over the past 12 months after you:

• Take out any mergers and acquisitions completed during that time?
• Take out any price increases implemented in the past 12 months?
• Take out all the new clients acquired in the past year?

What’s left? What kind of real growth remains? Even with those questions answered, you may be ignoring three fundamental considerations. READ MORE →