seven reasons why.
by marc rosenberg
how to bring in new partners
an impact player in sports is more than just a productive, loyal member of the team. the team relies on this player to be a consistent winner.
more: why partners can’t shirk performance reviews | twelve questions that prospective partners should ask | six systems used to determine partners’ goodwill payments | fifteen steps to new partner buy-in | four philosophies for managing a cpa firm | public accounting as a business, 101 | 16 steps to creating a partnership path
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i’ve always liked this term to describe what a partner in a cpa firm should be. i like it so much that i inserted the term “impact” in the name of the partner self-evaluation form i offer.
here are how some thought leaders i’ve worked with in the cpa profession describe an impact player:
- “it’s critical to see that the hard work it took to earn the partner promotion doesn’t stop when one becomes a partner. it’s just the beginning of a new race. it’s the responsibility of new partners to bring up the next generation of partners behind them.” (al kutchins, founder and co-managing partner of krd, chicago)
- an impact player keeps the firm relevant. never accepts the status quo. is always looking to innovate and willing to change, even if he or she doesn’t have a specific management position in the firm.
- no partner should ever take a neutral position on an issue of controversy within the firm. i’ve always hated surveys that provide people with 5-point rating systems with 3 being neutral because people have a natural tendency to be risk-averse and give mostly 3s and 4s. but everyone has an opinion on every issue. if you’re a partner, you should. there is a tendency for new partners to shut up, follow the older partners’ lead and not question things. but this is a big mistake. it’s the new partners who are in the best place to shake things up. (paraphrased from jennifer wilson of convergence-coaching.)
- cpa firms have a strong tendency to be like most other firms, doing little to differentiate themselves from the competition. again, it’s the new partners who need to attack this lethargy and make their firm stand out.
- when discussing the promotion to partner with managers, the firm needs to make a compelling case for why it’s better to become a partner at the firm instead of starting their own firm. (angie grissom, the rainmaker companies)
- “let new partners lead. keep them engaged.” (grissom)
- “if you stay in a nuthouse, you’re nuts.” (gale crosley, crosley company) i loved this the first time i heard gale say it. new partners can’t possibly know the inside scoop about the firm’s finances, the partners’ performance and productivity, their true personalities, the firm’s culture, the relationships between the partners and big problems in the firm. many partners are in for a rude awakening during their first year or two as partner when they learn these things firsthand. my reading of gale’s quote is that if a partner sees that the firm is operating in a dysfunctional manner (the nuthouse), it’s up to that partner to do something about it. if the partner does nothing and chooses to stay nonetheless, he or she is nuts too, or soon will be.