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

management

eight ways managing partners make a real difference

friendly business team looking at tablet in office lobbywant to play at the peak of your game?

by august j. aquila
what makes a great partnership

so, what do the truly successful managing partners do that differentiates them from their peers? in this short post i will quickly summarize the results of my research, which entailed interviewing 150 practicing and managing partners in a cross-section of consulting, accounting and law firms across europe and the u.s., before focusing on the things great managing partners did to ensure they were always at the top of their game.

more: ten steps to a new managing partner | five ways to keep your edge as a leader | managing partner: the toughest job in the world | why partners need written goals | eight criteria for partnership | how you can get partners to change
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the model

this model of what successful managing partners do is adapted from the leadership model in “when professionals have to lead,” which rob lees co-authored with tom delong and jack gabarro. i have used the same overarching dimensions of direction, commitment, execution and personal example and added context to reflect its impact on what firm leaders need to do.
read more →

pro member exclusive

ten steps to a new managing partner

three people standing, smiling and talking in an office walkwayhow to execute a smooth, graceful transition.

by august j. aquila
what makes a great partnership

one of the most difficult events that a firm faces is the transition of power from one managing partner to another, especially when it’s the first time. knowing when to pass the baton and how to pass it are critical decisions every firm will have to make.

more: five ways to keep your edge as a leader | five reasons that leaders fail | eleven things partners must do | seven keys to becoming an equity partner | how to achieve partner unity | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the most important thing you can do at this point is to plan, plan and plan some more for the transition. the sooner you lay out your plan, the easier it will be for you to achieve it.
read more →

leadership

five ways to keep your edge as a leader

man writing in notebookspecific steps, including three ways to make life easier.

by august j. aquila
what makes a great partnership

have you ever wondered why in good times or in bad it seems that managing partners of professional services firms fail? what happens to them? do they get stuck in a routine? do they fail to see the next issue coming down the road? do they stop thinking about what is critical for success? or, do they spend too much time with clients, with dysfunctional partners or with all the other noisy, but unimportant things that can pull them from their purpose?

more: five reasons that leaders fail | what managing partners must be doing | do your partners pay their own way? | how to create firm accountability | five questions to ask your partners about accountability
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

sometimes leaders get overwhelmed. they forget that non-stop action is a lot different from delivering results. in short, they lose the alignment between what’s important to them and what’s important to the firm.
read more →

authors in the news

five reasons that leaders fail

do you have these habits of highly ineffective ceos?

by august j. aquila
what makes a great partnership

several years ago there was an interesting article in fortune magazine. it dealt with the topic of why ceos fail. for example, “chainsaw al” dunlap was let go by sunbeam after two years of dismal performance and questionable conduct.

more: what managing partners must be doing | managing partner: the toughest job in the world | eleven things partners must do | do your partners pay their own way? | why partners need written goals | seven keys to becoming an equity partner | how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

what do cpa firm managing partners have to learn from corporate america?
read more →

pro member exclusive

what managing partners must be doing

young man facing image of himselfbonus: questions for self-evaluation.

by august j. aquila
what makes a great partnership

the responsibilities of a managing partner can be captured in the following two paragraphs:

general responsibilities include reporting directly to the governing committee and the firm, being responsible for the firm’s overall management and practice, supervising the overall marketing and business development effort, managing the professional staff and providing guidance for the support staff.

more: managing partner: the toughest job in the world | eleven things partners must do | seven keys to becoming an equity partner | how to achieve partner unity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

specific responsibilities include coordinating the firm’s practices among the different offices and departments, implementing the partnership agreement, appointing heads of various committees, representing the firm in community and professional organizations, supervising the functioning of the governing committee, overseeing the functioning of standing and ad hoc committees, providing guidance on financial policies and working with the governing committee to develop personal and administrative policies.

these are without doubt good areas, but are they the ones managing partners should focus on?
read more →

pro member exclusive

managing partner: the toughest job in the world

five cheetahs strolling on a pathyou enjoy herding cats, right?

by august j. aquila
what makes a great partnership

wanted: managing partner

requirements: unique individual who can lead a group of independent-minded professionals; keep some semblance of normality; deal with super egos, unproductive partners and dysfunctional partners; grow the business, stay competitive in a rapidly changing and unfriendly environment, and figure out how to compensate everyone fairly. interested parties should send resume and salary requirements to box aa.

why would you want this job? managing a practice today has never been more difficult, but it doesn’t mean that it’s impossible or not rewarding. it all depends on your focus and your willingness to solve the important problems at hand.

more: eleven things partners must do | do your partners pay their own way? | how to create firm accountability | five questions to ask your partners about accountability
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it has been said that the “firm can never be something the leader is not.” it should be added that the “firm can never be something that the partners are not.”
read more →

special

eleven things partners must do

woman and man in business suits looking at laptop screenthe firm’s owners are responsible for implementing its vision.

by august j. aquila
what makes a great partnership

partners are the culture in a professional service firm – what they believe, what they reward, what they do and how they do it determines what and how things get done. but one of the problems we consistently hear about is the lack of clarity in what being a partner means. and in the absence of clarity, the partners typically fill the gap by doing what they think it means, with all of the differences of thought and behavior that inevitably brings. it’s these differences in behavior that result in firms failing to maximize their potential.

more: do your partners pay their own way? | why partners need written goals | seven keys to becoming an equity partner | how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this table illustrates some of the differences in approach that can occur when partners interpret their responsibilities themselves.
read more →

pro member exclusive

do your partners pay their own way?

there are objective and subjective measures. bonuses are for the extraordinary.

by august j. aquila
what makes a great partnership

while times may be good for many cpa firms, we should not forget that firms cannot afford to have partners coast or be unable to pay their own way. firms are expecting more from their partners. it doesn’t mean that partners have to work longer hours, but it does mean that partners need to contribute more to the economic value of the firm and learn how to work smarter.

more: why partners need written goals | seven keys to becoming an equity partner | how to achieve partner unity | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

evaluate partner performance

in the majority of firms there is no formal written evaluation of partners. while most partners don’t want to be and don’t like to be evaluated, it’s a common fact of life. how else can you fairly evaluate and compensate your partners? there is a definite trend today for firms to identify standards and have written, measureable goals for partners. this permits management to evaluate actual performance against the goals set at the beginning of the year.

read more →

pro member exclusive

why partners need written goals

businessman pole vaulting toward his goalthree questions to answer about each one.

by august j. aquila
what makes a great partnership

“if you aim at nothing, you will hit it every time.” – zig ziegler

if we achieve what we measure, then it is true that we become what we think about most of the time. philip e. humbert, ph.d. wrote, “the human brain is a goal-seeking, problem- solving machine, and the things we think about, focus on, and worry about inevitably shape our destiny.”

more: seven keys to becoming an equity partner | how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

brian tracy says the four main excuses people make as to why they don’t have written goals are:
read more →

pro member exclusive

seven keys to becoming an equity partner

hand using key to unlock doorexpectations are high. as they should be.

by august j. aquila
what makes a great partnership

with the recent turn in the economy, equity partners are finding that there is no longer a lifelong tenure guarantee. senior managers and non-equity partners are wondering whether or not they even want to become equity partners.

more: how to create firm accountability | eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

for the most part, firms have been selective about who they take into the partnership. however, when the economy was running hot and finding a warm body to fill spots was a real challenge, the partnership bar was certainly lowered in many firms. today, that bar is being raised again.
read more →

pro member exclusive

how to create firm accountability

businesswoman talking to businessman over tabletit’s a culture, not a checklist.

by august j. aquila
what makes a great partnership

traditionally, becoming a partner in a cpa firm meant the end of a long, hard slog of grunt work and extended hours. but in today’s competitive environment, making partner is only the beginning of a new chapter of risks and challenges. and the work isn’t getting any easier.

more: eight criteria for partnership | how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

today’s top cpa firm leaders are looking for new ways of building successful, enduring organizations. the culture of collegiality that gave way to a culture of entitlement is giving way to a new culture of performance and accountability.
read more →

pro member exclusive

eight criteria for partnership

old key in hand isolated on white background.bonus: a basic partner evaluation form.

by august j. aquila
what makes a great partnership

one major result of the great recession is that firms can no longer afford to keep partners who are unable to pay their own way and help the firm grow. i say this because firms have already cut staff to maintain their level of profitability and there is no additional fat to cut. competition and fee pressure from larger firms in every market continues to put a squeeze on profits. in addition, employment opportunities are surfacing again for the employees in your firms.

more: how to achieve partner unity | five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there is only one area left that should be considered for possible cuts, or better yet, for improvements – the partners. as a professional services firm, you are a business. and like any other business, you need to be profitable in order to continue to exist.
read more →

pro member exclusive

how to achieve partner unity

plus five ways that don’t work.

by august j. aquila
what makes a great partnership

i have worked with many firms in helping them build team unity, especially when the firm is undergoing a change in managing partner, merging or just trying to implement its strategic plan.

more: five questions to ask your partners about accountability | how you can get partners to change | the seven building blocks of a great partnership
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

everyone knows that partner unity is one of the keys for overall success and sustainability. and, we know the benefits of having greater partner unity than the next firm – better client service, less employee turnover, superior profitability.
read more →