How to brace yourself for the “Baby Boomer Bubble.”
By Gary Adamson, CPA
I think about the BBB a lot. No, this BBB is not the Better Business Bureau; it is the Baby Boomer Bubble. There is constant reference by the news media about the aging of the Baby Boomers but I for one did not know exactly what it meant. Until I Googled it.
RELATED: How to Create a No-Equity Partner Position in Your Firm | What a Coach Can Do for You – and Your Firm | How to Balance the Six Jobs of Managing Partner | Planning a Partner Retreat for Real Results | The Partner Compensation Checklist | How CPA Firms Make Money in Turbulent Times
What I found is not good news for the accounting profession. The BBB is 76 million of us born in the United States between 1946 and 1964 and we are fairly evenly spread through those 19 years. That means the oldest of this huge bubble are 4 million folks who turned 65 last year. And, we have another 18 years to go! READ MORE →
It may be the answer to keeping talented people.
by Gary Adamson, CPA
Most firms are faced with the dilemma of keeping long term managers who are major contributors to the firm but for whatever reason are not ready to be equity partners (or who perhaps never will have what it takes to be equity partners).
Here is a seven-point outline of what the no-equity position looks like, how it differs from the normal equity partner spot and some considerations to implement it in your firm.
A thankless job: Divide, conquer and delegate.
Most CPAs are thrust into the managing partner role with little or no training or coaching. Who teaches you to be an effective managing partner? How do you know if you’re performing well?
Your partners won’t tell you. If you’re new to the job, do you just do it the same way as your predecessor? Is that the best approach for the firm? Who will mentor you?
Gary Adamason, longtime managing partner of Dayton, Ohio-based, BradyWare, has been there, done that, and come back with a few wise words:
More at CPA Trendlines: What a Coach Can Do for You | How to Balance the Six Jobs of Managing Partner | The Partner Compensation Checklist | How CPA Firms Make Money in Turbulent Times
There are not too many places to turn for help. Whether you are new or a veteran, here is an approach to organizing the job with a focus on dividing and conquering and delegating when necessary. READ MORE →
Five tough questions and five good tips to take your firm and your personal effectiveness to the next level.
Gary Adamson, former managing partner of Brady Ware CPAs, has become a living legend in the profession for taking his firm from a small, local player to a regional contender. But he’s the first to admit he didn’t do it alone. Coaching helped. In fact, during his career at the firm, he used two business coaches.
More from Gary Adamson at CPA Trendlines: How to Balance the Six Jobs of Managing Partner | The Partner Compensation Checklist | How CPA Firms Make Money in Turbulent Times
He learned a lot, and now he’s sharing what he learned with CPA Trendlines.