Profitability Requires Discipline

19 basic principles to improve operations ... but don't treat them like "flavor of the month."

By Domenick J. Esposito
8 Steps to Great

We all know that improving profitability on a sustained basis generally is a long-term play that requires significant planning, discipline, accountability, implementation and patience.

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Unfortunately, the senior partners at many small and mid-sized CPA firms do not possess all of these attributes and therefore are unable to make significant strides in their bottom-line distributions to their partners. While it’s an uncomfortable scenario, it’s reality and almost understandable as many small and midsized CPA firms are thinly managed and do not have the leadership that is necessary to change the inevitable path of merging up.

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Domenick J. Esposito



About the Author

Domenick J. Esposito is the former CEO of Grant Thornton, vice-chair of BDO, national growth director at CohnReznick.

He is the author of "8 Steps to Great: The Eight Essential Strategies Driving Success at the World's Largest CPA Firms. And How to Apply the Lessons at Firms of All Sizes," published by CPA Trendlines.

His consulting firm, EspositoCEO2CEO specializes in helping managing partners and other senior partners in small and mid-sized firms evolve their firm from good to a mid-market sustainable brand. Esposito CEO2CEO, actively led by Esposito, draws upon a diverse and expansive pool of consultants with a wide range of expertise who are introduced into assignments when called upon.

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