Experts Advise What Partnership Takes

back view of a businessman holding a briefcase and walking forward on white backgroundDefining what competence means for partners.

By Martin Bissett

The skill in producing financial reports is limited by the quality of the information presented to the CPA by the client. Motivation of the client to influence that financial information comes in many forms, some intentional and some unintentional. Competence comes first in being able to resist pressure and present a true and accurate position of the client’s organization.

MORE ON THE PASSPORT TO PARTNERSHIP: Are You Partner Material? Maybe Not | Communication: Putting It All Together | What Does the Next Generation of Practice Leaders Face? | Businesses Place Value on Expertise

Sounds obvious, doesn’t it? But there’s a twist.
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Randy Myeroff at Cohen & Co.: Winning the Youth Movement

Myeroff
Myeroff

“Whoever can connect with today’s youth movement and invest in it the right way is going to win.”

By CPA Trendlines Staff

Attracting and retaining high-caliber, younger workers is far and away the most pressing concern at Cohen & Co. in Cleveland, Ohio.

MORE from THE CORNER OFFICE: Rick Dreher Innovates Wipfli for Clients, Younger Workers | How Blain Heckaman Drives Value at Kaufman Rossin | WeiserMazars MP Blake Charts U.S. Expansion | Frank Longobardi: CohnReznick’s Battle for Top Talent | The Robo-CPA: Jim Sikich Prepares for Disruptive Technologies |  Exclusively for PRO Members. Log in here or upgrade to PRO today.

The CPA firm, which ranks among the nation’s 100 largest, is reaching out to young talent via means that include offering one of the top-ranked internship programs in its northeastern Ohio region, and by simply increasing its hiring of new college graduates.
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Partnership: Competence Is Just the Foot in the Door

Businessman in an umbrella sails in storm in the nightSailing through the 7 C’s to partnership may be harder than you think.

By Martin Bissett
Passport to Partnership

Staffers aspiring to be partners must learn the key characteristics of successful partners. They also must learn how to develop their own personal plans to achieve partnership. Firms and staffers alike need a clear set of procedures, processes and milestones for turning top talent into the next generation of firm leadership.

MORE ON THE PASSPORT TO PARTNERSHIP: Key Advice for Potential Partners | Surviving Vs. Thriving | What Does the Next Generation of Practice Leaders Face? | Commitment: A Cautionary Tale | How to Build Your Pipeline | 6 Keys to the Perfect Proposal | Communication: It’s Not About You

There are seven critically important criteria by which partners assess partners-to-be. I call them:

The Seven C’s
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Are You Partner Material? Maybe Not

Businessman holding hand upResearch shows wide gap between partners and partners-to-be.

By Martin Bissett
Passport to Partnership

Have you ever wondered what the partners of your firm are looking for from you, beyond your technical abilities?

MORE ON THE PASSPORT TO PARTNERSHIP: 9 Things to Stop Doing Now | The DNA of a Practice Leader | Why Hitting Your Numbers Isn’t Enough | What Do Your True Colors Say About Your Commitment? | What Commitment Really Means for Partners | How Well Do You Represent Your Firm? | Communication: Putting It All Together | The 4 Winning Communications Habits of Top Accountants

For full disclosure, I am not an accountant, but I have spent decades working with accounting firms of all shapes and sizes in the United Kingdom, the United States and Europe.
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How to Prepare for the First Meeting with a New Prospect

Businessman leaning against carAnd 4 questions to ask yourself afterward.

By Martin Bissett
Business Development On a Budget

You’ve done all the marketing to bring new opportunities; you and your partners are confident in the value you need to offer; your pipeline is filled out and you have done your A.C.C.O.U.N.T.S. So what’s next?

MORE ON BUSINESS DEVELOPMENT: The Five Fastest Ways to Kill a New Opportunity [VIDEO] | Use This Spreadsheet to Evaluate Prospects | Before the Sales Meeting | Lowballing Is Undervaluing Yourself | Do You Have a Pipeline or Just a List? | Overcome Recurring Fee Apathy | 5 Ways to Make Selling Easier to Swallow

Now you need to go and meet with the prospect for the first time. This is a huge step forward, but many professionals also find the first meeting a challenge. That challenge can be overcome by having a system in place and following it.
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9 Things to Stop Doing Now

Businessman in dark gray suit raise his hand in action of stop and word "stop" on his red palmStop devaluing yourself and the profession.

By Martin Bissett
Passport to Partnership

The thing about accountants is that they occupy, should they wish to, a unique position in the minds of their clients. We know it as most trusted advisor.

MORE ON THE PASSPORT TO PARTNERSHIP: How to Create an Upward Spiral | It’s Not the Challenge, It’s Your Response | What Challenges Really Mean for Partners | Commitment: Your View and Your Firm’s | Businesses Place Value on Expertise | What Conversion Really Means for Partners | Communication: It’s Not About You

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Simply put, if you are a trusted advisor, you’re supposed to
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Key Advice for Potential Partners

Woman's hand pressing words "ASK AN EXPERT"BONUS: 8 questions to ask plus words from our expert council.

By Martin Bissett
Passport to Partnership

You may want to become a partner, but that requires leadership. Do you display the traits you admire in leaders?

MORE ON THE PASSPORT TO PARTNERSHIP: How to Create an Upward Spiral | The DNA of a Practice Leader | What Does the Next Generation of Practice Leaders Face? | Commitment: A Cautionary Tale | How to Build Your Pipeline | 6 Keys to the Perfect Proposal | Communication Can’t Be Overrated

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Partnership pointers

1. Take time to identify a leader you admire from any walk of life. Jot down a criterion for emulating their success behaviors. How many of these criteria do you fulfill yourself already and what do you yet lack but can work on right away?

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How to Create an Upward Spiral

Businessman bursting through flames and fireworksWill you be forged in fire or flutter away like ash?

By Martin Bissett
Passport to Partnership

Unhappy and difficult clients help our firms to improve our client management skills and present opportunities to refine our leadership skills.

MORE ON THE PASSPORT TO PARTNERSHIP: The DNA of a Practice Leader | Surviving Vs. Thriving | What Does the Next Generation of Practice Leaders Face? | 6 Keys to the Perfect Proposal | What Conversion Really Means for Partners | 12 Ways to Determine Your Competence | Passport to Partnership: New Research Shows Wide Gap between Partners and Partners-To-Be

GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

It is tough for us to build a successful firm without difficult clients or internal personnel issues in order to provide learning experiences for us to build a robust and commercially successful infrastructure.
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The DNA of a Practice Leader

Manager standing in front of wall of TVsA lesson in customer service and reputation.

By Martin Bissett
Passport to Partnership

In order to become a commercially aware practice leader, we need to understand the DNA of leadership.

MORE PASSPORT TO PARTNERSHIP: Surviving Vs. Thriving | It’s Not the Challenge, It’s Your Response | What Challenges Really Mean for Partners | Commitment: Your View and Your Firm’s | Businesses Place Value on Expertise |  For PRO Member exclusive content: Sign in here or upgrade to PRO now

Any woman or man leading an accounting firm, who chooses to overcome each operational or client challenge as it if their future depended on it, will not only succeed in practice but will become capable of delivering advisory value to their clients unmatched by their competitors, thus achieving true differentiation.
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