here’s what you’re looking for: august j. aquila

pro member exclusive

why ‘walking together’ is so important

three partners, one male and two female, walking and smiling outside a buildingpartners must show a unified front.

by robert j. lees, august j. aquila and derek klyhn
creating the effective partnership

in our work with managing partners, we always talk about the importance of the partners “walking together,” of sharing that common vision.

more on leadership for pro members: 7 warning signs for your firm | the checks and balances your firm needs | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger | 8 financial ducks to line up now

but if the partners are to share the vision, they have to play an active part in determining the firm’s direction – and, critically, how it’s going to get there.
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pro member exclusive

the 4 best ways to use pre-retirement partners

older man pointing out something in a document to a younger colleaguea firm’s senior partners may be their most underused assets.

by august j. aquila
creating the effective partnership

there may be some senior partners who want to spend their remaining years basking in the sun or playing golf.

more on leadership for pro members: 7 warning signs for your firm | 6 ways to pay partners | how to build a better firm through teamwork | 8 questions to analyze your pricing | 24 points for after the deal is done | 5 questions for every mp to answer honestly | 6 practical ways to innovate | 8 ways leaders destroy firms | 8 financial ducks to line up now | how to combine two firms after merger: carefully

but given the negative and low returns of the stock market the last few years, more senior partners will be concerned about their economic future and will want to stay involved in the profession. this can be a win-win situation for both parties or it can be a lose-lose.

this can be a win-win situation for both parties or it can be a lose-lose.
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pro member exclusive

7 warning signs for your firm

man with head down on laptop keyboardif it’s suffering these, a culture change is due.

by august aquila

accountability, according to the merriam-webster online dictionary, is “the obligation or responsibility to accept responsibility or to account for one’s actions.” let’s explore what this definition means.

more on leadership for pro members: 6 ways to pay partners | work together better in 11 steps | drop politics, be accountable | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | how to combine two firms after merger: carefully

first, there is an obligation. an obligation is a promise to do something. if a company has a financial obligation and fails to meet it, it may go into bankruptcy. if individuals fail to meet their obligations they also fall into a state of bankruptcy – i.e., failure.
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pay & compensation

6 ways to pay partners

paying for performance alone doesn’t always work.the number 6 made from dollar stacks

by august aquila
creating the effective partnership

many of us, including myself, thought that the right compensation plan would solve the answer to underperformance and motivation. over the last 10 years or so, firms have moved from a formula-based plan to a pay-for-performance plan that takes into consideration

  • production,
  • business development,
  • value enhancement and
  • behavioral factors.

more on leadership for pro members: work together better in 11 steps | the checks and balances your firm needs | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger

while this has helped place more emphasis on performance, it hasn’t been a magic bullet. why are so many firms still missing the boat when it comes to motivating partners and staff to perform at a higher level?
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pro member exclusive

work together better in 11 steps

11 peoples in a circle looking down at camerato achieve your vision, your team must work in unison.

by august aquila
creating the effective partnership

as the saying goes, a picture is worth a thousand words. your vision is a journey to some place in the future. it’s not where you are today. it may even take generations to get there. it becomes even more compelling when it’s somewhere your people want to go.

more on leadership for pro members: the checks and balances your firm needs | how to build a better firm through teamwork | 8 questions to analyze your pricing | 24 points for after the deal is done | 5 questions for every mp to answer honestly | 6 practical ways to innovate | how to tell a culture change is due

while it’s the ultimate destination that people engage with, the journey there is also important. if the end point is exciting and has benefits that your people share, they will be more engaged in the journey. and, when partners are engaged with the firm’s future, they perform better.
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pro member exclusive

the checks and balances your firm needs

businessman pointing to transparent board with text: governancewhy your firm should be a republic, not a democracy.

by auqust aquila
creating the effective partnership

what checks and balances exist in your firm to keep it strong but also to protect the minority interest?

more on leadership for pro members: how to build a better firm through teamwork | drop politics, be accountable | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | today’s top 6 partner compensation trends

maybe it’s time for more firms to consider a republic instead of a so-called democracy. the larger firms in the country are surely run more like a republic than a democracy. smaller firms would be well advised to change their governance to mirror the larger firms. but let’s start with the dictatorial form of governance – commonly found, sometimes wildly successful, but only to a point.

leadership

how to build a better firm through teamwork

persuasion word cloudpartnership is about persuasion. plus 5 questions to consider.

by august aquila
creating the effective partnership

just as the partners need to engage with the firm’s vision so do the firm’s people. but, like everyone, they actually engage with people not words.

more on leadership for pro members: drop politics, be accountable | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | how to combine two firms after merger: carefully

so, effective partners continually engage with their people, regardless of their level and role. they go out of their way to create a personal bond, sharing personal information and operating with honesty and integrity in all of their interactions.
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leadership

drop politics, be accountable

goldfish forming an arrowsix expectations for leaders.

by august aquila
creating the effective partnership

every book you read on leadership will tell you certain things you need to do to become a good leader. however, you can do these things and still not be someone who people want to follow.

more on leadership for pro members: don’t weed out the roses | 8 questions to analyze your pricing | 24 points for after the deal is done | 5 questions for every mp to answer honestly | 6 practical ways to innovate | how to tell a culture change is due

why? leadership is all about trust. if you cannot trust me, then you will not follow me or believe in me.
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pro member exclusive

don’t weed out the roses

gardener pruning a rose bushwhen tweaking your comp system, remember it’s not just about the money.

by august aquila
creating the effective partnership

if your partners are putting up a fight to keep clients who should be let go, take a look at your compensation system. it’s not just about billable hours.

more on leadership for pro members: 8 questions to analyze your pricing | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | today’s top six partner compensation trends | 8 financial ducks to line up now

here are 16 tweaks to your firm’s compensation system. while the list is not exhaustive, it does provide criteria that firms can consider beyond revenue.
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pro member exclusive

8 questions to analyze your pricing

number 8 in gold

building a growth-centric pricing strategy requires analyzing 3 factors.

which pricing schemes are working best today?
join the survey; get the results.

by august aquila
creating the effective partnership

think of any services, professional or commercial, that you have purchased over the last few years.

more on leadership for pro members: what makes a successful strategic plan? | back to basics: 25 ways to grow your practice |3 ways to halt a poor leader | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | partnership is about persuasion

would you pay a premium rate to a bonsai gardener just to trim a regular tree or shrub? most likely not, since there would be many a gardener available to do this simple task. however, the price of an open heart surgery would not matter, if the operation would save your life.
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pro member exclusive

what makes a successful strategic plan?

cute furry monsterfacing the monster issues.

by august aquila
creating the effective partnership

during the next several months, firms will be meeting to develop a strategic plan for the coming year or two. it’s a summer ritual for many firms.

more for pro members: 24 points for after the deal is done | innovate or die | 3 ways to halt a poor leader | partners love, hate leadership | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team

however, the plans that are usually developed don’t address the real issues that firms are facing.

a client recently asked me, “what can we do to develop an effective strategic plan?” i’m not sure if he liked the answer or not. i am still waiting to hear if my proposal was accepted. let me share with you what i said to him.

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marketing & sales

back to basics: 25 ways to grow your practice

sprout growing on money pile of glass jar bankhow many are you doing? what would you add?

by august aquila
creating the effective partnership

sometimes the best way to grow a practice is to return to the basics – no fancy marketing campaigns, just some good old fashioned face-to-face contact and working your existing client base.

more for pro members: 24 points for after the deal is done  |   innovate or die | 3 ways to halt a poor leader | partners love, hate leadership | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here’s a list of 25 ideas for growing your practice. how many are you currently doing? read more →

mergers & acquisitions

24 points for after the deal is done

colleagues working side by sidehow to make sure these two firms start working as one.

by august aquila
creating the effective partnership

congratulations! after years of planning and months of tough negotiations, you’ve finally closed the deal on merger of your cpa firm.

more on leadership for pro members: innovate or die | 3 ways to halt a poor leader | partners love, hate leadership | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team

you might be thinking the most difficult work is behind you. think again! you now have to move your eye from the financial to the human side of the merger.
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