How Firms Unleash the Power of Diamonds, Cash Cows and Fat Cats

Dozens of accounting firms are turning a business cliche into new growth.

by Gale Crosley
Crosley & Co.

An Internet search for the term “predictable growth” yields millions of links to websites, videos, books, and consultants. There seems to be no doubt about the idea that growth can be planned and charted.

But for accounting professionals who are trying to grow their firms, it may seem that there’s nothing at all predictable about sources of opportunity and how to manage them. If that’s your situation, it may be because you haven’t yet unlocked the power of the product lifecycle.

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In the 1970s, Bruce Henderson of the Boston Consulting Group introduced the concept that products and services have a predictable, consistent cycle. Some four decades later, the BCG Matrix that he developed remains a popular growth tool. Dozens of accounting firms are adapting a version of the model and are using it to help determine how to grow each service line and industry.

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Gale Crosley

About the Author

Gale Crosley, CPA, of Crosley+Co., is one of the Most Recommended Consultants in the Inside Public Accounting BEST OF THE BEST, one of the Top 100 Most Influential People in Accounting by Accounting Today and has been named to The Advisory Board Hall of Fame.

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She consults with large and large-thinking accounting firms, assisting managing partners, partners, and marketing directors, to effectively increase their firm’s revenues.  She guides them through development of the best strategies and tactics to achieve aggressive revenue growth objectives. Gale’s 35-year-plus career represents a unique combination as a practicing CPA at Arthur Andersen, PwC, and a local CPA firm. She has also held senior management roles in business development and marketing in the cutting edge technology environment with IBM, MCI and several start-up technology companies. Gale has helped dozens of large and large-thinking firms, both domestic and international, create high growth cultures, driving revenue from all aspects of the practice. She is an honors accounting graduate from the University of Akron, Ohio, and winner of the Simonetti Distinguished Business Alumni Award. Gale is a licensed CPA in Ohio and Georgia, a member of the AICPA, the Ohio Society and Georgia Society of CPAs, and is on the Editorial Advisory Board of the Journal of Accountancy. Her cornerstone book, At the Crossroads, chronicles the challenges and successes of a fictional CPA firm struggling with growth.

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