dom esposito, author at 卡塔尔世界杯常规比赛时间 - page 3 of 7

yes, bigger is better

like it or not, size sells.

by domenick j. esposito
8 steps to great

while conventional wisdom tells us that better is better, it’s plain and simple nonsense when it comes to midsized cpa firms and a convenient excuse for a less than stellar growth by a firm’s partner group.

more on strategic planning: use compensation to shape partner behavior | ai likely to accelerate merger mania | get your money’s worth from non-billable time | stay independent but keep looking upward | the dangers of low-hanging fruit
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just look at “better” through the lens of the marketplace for both existing and prospective clients and talent.

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use compensation to shape partner behavior

do you have the right mix of partners?

by domenick j. esposito
8 steps to great

visualize your partner group fitting into a bell curve.

more on strategic planning: ai likely to accelerate merger mania | what a value proposition truly is (and isn’t) | does your firm need an independent executive committee member? | 10 ways to link compensation and strategy | develop home-grown future leaders | how to capitalize on the trusted business advisor opportunity | leadership must be persistent and consistent
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in quartile #1, you have the stallions – the very high performers who produce outstanding contributions to the firm year in and year out. these equity partners want to win and know how to do it.
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mergers & acquisitions

how artificial intelligence will drive the next wave of merger mania

it may be time to prepare a plan b.

by domenick j. esposito
8 steps to great

we are halfway into the year 2017 and the frenzied pace of cpa firm mergers and acquisitions – when compared to the years 2015 and 2016 when there were over 100 and over 200 transactions, respectively – has not slowed down one bit.

more on strategic planning: what a value proposition truly is (and isn’t) | the importance of m&a culture due diligence | are you attracting the new breed of equity partners? | quality work, quality service not the same thing | who will be the next category killer? | why is strategy execution so difficult? | time running out for succession planning | the benefits of a client situation review
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we continue to witness a perfect storm caused by:
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what a value proposition truly is (and isn’t)

do it right and win in 4 key areas.

by domenick j. esposito

it is a myth that pricing is the main reason a cpa firm loses clients or proposals.

more on strategic planning: the importance of m&a culture due diligence | get your money’s worth from non-billable time | stay independent but keep looking upward | ineffective partners and how to address them | the dangers of low-hanging fruit | 10 common leadership traps | expand your national and global geographic reach
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price is a one-dimensional sales pitch – your firm is either the lowest price or you’re not – end of the story and end of the sales pitch.
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the importance of m&a culture due diligence

a 6-point blueprint.

by domenick j. esposito

over the last several years, there have been over 200 merger, acquisition, alliance and joint venture announcements by the top 100 and other fast-growing cpa firms. every indication is that these combinations will continue at a very rapid rate as cpa firms are:

facing an aging partner group that usually includes the most effective relationship and business development partners. baby boomers have been a home run for cpa firms.
finding organic growth very difficult to attain with little prospect that business is going to dramatically improve in the foreseeable future.
realizing an inability to attract an adequate supply of high-quality talent to help perpetuate the firm.

more on strategic planning: get your money’s worth from non-billable time | stay independent but keep looking upward | ineffective partners and how to address them
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cpa firm ceos and other senior management are very effective at financial and operational due diligence, tracking results and holding partners accountable for hitting timely targets. on its face, an observer would tend to conclude that these 200+ combinations are very accretive to partner profitability after an integration period of 18 to 24 months.
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get your money’s worth from non-billable time

business development must be part of the firm dna.

by domenick j. esposito
8 steps to great

today, at many smaller firms, client service partners (defined as partners who devote 100 percent of their time on clients with no firm administration responsibilities), generate, on average, about 1,500 to 1,600 billable hours per annum.

more on strategic planning: does your firm need an independent executive committee member? | are you attracting the new breed of equity partners? | quality work, quality service not the same thing | who will be the next category killer? | why is strategy execution so difficult? | time running out for succession planning | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups
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at most of the top 100 cpa firms, client service partners generate about 1,200 billable hours per annum. that should be the absolute minimum at the top 100 firms. without breaking much of a sweat, client service partner billable hours at the top 100 could and should easily reach 1,300 to 1,400 billable hours per annum.
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does your firm need an independent executive committee member?

7 benefits of an outside perspective.

by domenick j. esposito
8 steps to great

managing partners and other senior management at small and mid-sized cpa firms are known for their entrepreneurial spirit, independent thinking and their desire to call their own shots. at the same time, firm leadership recognizes that they have developed their leadership and management skills from the school of hard knocks and their experiences at firms a good number of them joined directly upon graduation from college.

more on strategic planning: are you attracting the new breed of equity partners? | stay independent but keep looking upward | ineffective partners and how to address them | the dangers of low-hanging fruit | 10 common leadership traps | expand your national and global geographic reach | show clients how to improve working capital
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while these skills are critically important, they are, in fact, limiting as they draw upon a very narrow knowledge base and don’t draw upon a much broader universe of knowledge that is out there. how often do you hear “i wonder how other firms do this or do that?”
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are you attracting the new breed of equity partners?

7 tactics to address the “new normal.”

by domenick j. esposito
8 steps to great

there’s no argument within the accounting profession that today’s economy is anemic, margins are squeezed and talent, particularly tax talent, is very scarce.

more on strategic planning: stay independent but keep looking upward | 10 ways to link compensation and strategy | develop home-grown future leaders | how to capitalize on the trusted business advisor opportunity | leadership must be persistent and consistent
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on top of that:

the philosophies of: (a) finders, minders, grinders and (b) an accounting firm model (principally low-margin compliance services) are no longer sufficient and probably are counterproductive to the perpetuation of a firm.
clients have the upper hand in their accounting firm relationships.
technology will continue to create a lesser demand on lower-level staff.
it is widely believed that google and microsoft will soon become fierce competitors for certain compliance services.

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stay independent but keep looking upward

14 questions to ask.

by domenick j. esposito
8 steps to great

your firm was knocking the cover off the ball pre-financial crisis (circa 2007 and 2008) with a strategy of getting bigger with quality growth, stronger with quality talent, and more profitable but it is increasingly obvious that it has become difficult competing in today’s mid-market space.

more on strategic planning: 10 ways to link compensation and strategy | quality work, quality service not the same thing | who will be the next category killer? | why is strategy execution so difficult? | time running out for succession planning | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups | what is ‘acceptable’ performance? | 6 measures of partner performance | is hr ready for your partner pipeline?
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the business environment is anemic and organic growth is hard to come by. your challenge is exacerbated when you see an insufficient number of young superstars and rainmakers and your senior partners, mostly baby boomers, don’t have an awful lot of “golf course” left to play.
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featured

quality work, quality service not the same thing

competence isn’t enough.

by domenick j. esposito
8 steps to great

over the years, i have enjoyed reading and internalizing the insights of david maister, highly regarded author, speaker and practice management consultant.

more on strategic planning: ineffective partners and how to address them | develop home-grown future leaders | how to capitalize on the trusted business advisor opportunity | leadership must be persistent and consistent | using a high-performance business framework | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior
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many years ago (circa 1993), maister wrote a professional service firms article titled “quality work doesn’t mean quality service.”
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the struggles of hitting market compensation … fairly

avoid the temptation to “sprinkle” among “buckets.”

by domenick j. esposito
8 steps to great

for the most part, managing partners at a large number of the best-run top 100 firms below the giant four do an excellent job in splitting up their compensation pies.

more on strategic planning: ineffective partners and how to address them | develop home-grown future leaders | how to capitalize on the trusted business advisor opportunity | leadership must be persistent and consistent | using a high-performance business framework | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior | cpa firm partner performance: different activities, different metrics
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their partner compensation system rewards performance and, at the same time, nurtures rising stars with lots of potential.
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ineffective partners and how to address them

consider not just the current impact, but the future.

by domenick j. esposito
8 steps to great

most accounting, tax and advisory cpa firm professionals who have demonstrated that they can help perpetuate an organization become partners between the ages of 35 and 42. in many cases, these same professionals retire from their firms as they approach the age of 60, 65 and 70.

more on strategic planning: develop home-grown future leaders | who will be the next category killer? | why is strategy execution so difficult? | time running out for succession planning | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups | what is ‘acceptable’ performance?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

many emotional and physical changes happen to us humans over the course of 25, 30 or 35 years. sometimes for the good and sometimes for the bad, our personal lives, energy levels and productivity at the age of 35 usually are different than our personal lives, energy levels and productivity at the age of 65.
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how to develop home-grown future leaders

a development academy might be your answer.

by domenick j. esposito
8 steps to great

when it’s time to make decisions about new partner admissions, here is what senior leadership at many small and mid-sized cpa firms often hear:

“if mary doesn’t make audit partner this year, she will leave the firm. we can’t afford to lose her as she gets all the work done at abc manufacturing corporation, who pays us over $300,000 a year. without mary, this client will leave the firm” and

“we need to make joe a tax partner this year because he is the only one in the firm who understands ‘c.’ without him, we will have a big hole in our tax department capabilities. it could put a big hurt on the firm.”

more on strategic planning: who will be the next category killer? | the dangers of low-hanging fruit | 10 common leadership traps | expand your national and global geographic reach | show clients how to improve working capital
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in their guts, these leaders know that, while both mary and joe are solid professionals, there is little chance that either of them will develop beyond client service partners.
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dom esposito

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domenick j. esposito was the ceo of grant thornton, vice-chair of bdo, and 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 卡塔尔世界杯常规比赛时间.

a life in public accounting

in 2016, esposito, then a former ceo of bdo, moved from a 46-year career in public accounting into the next phase of his professional life – consulting to cpa firms, launching a boutique advisory firm, esposito ceo2ceo, that provides advice to ceos, managing partners and other senior partners of cpa firms focused on the mid-market throughout the u.s.

with the launch, esposito authored “8 steps to great," a guide for ceos, managing partners, and other senior partners on how to move their firm to the next level.

cohnreznick national growth director

esposito was one of the most qualified individuals in the country to advise cpa firms on growth and profitability. through 2015, he was national practice & growth director and an executive board member of cohnreznick, llp, a mid-market sustainable brand and the tenth-largest cpa firm in the united states. he oversaw cohnreznick’s go-to-market industry specialization and consulting and advisory service lines. he was also intimately involved in the firm’s mergers and acquisitions and strategic and tactical activities for its public company and capital markets initiatives. dom joined the predecessor firm of j.h. cohn in 2002 as the chief operating officer and executive board member.

dom was also an independent director of ethan allen interiors inc. for several years (through 2014), dom was a member of the nasdaq listing and qualifications committee to the organization’s board of directors. he formerly served as the leader of the new york state society of cpas committee for large and medium-sized firms practice management. he also was an adjunct accounting professor at c.w. post/long island university.

bdo and grant thornton

through october 2002, dom was vice chairman at bdo, a mid-market sustainable brand and the seventh-largest international accounting and consulting firm in the u.s., with almost 50 offices and 3,400 employees. during his brief time with bdo, he was responsible for the alliance distribution network (at the time consisting of over 80 cpa firms, 10 law firms, and 25 consulting firms). he was also responsible for attracting and servicing a number of clients.

from 1979 through 2001, dom was with grant thornton, another mid-market sustainable brand and the sixth-largest international accounting and consulting firm in the u.s., with over 50 offices and 4,500 employees. he joined grant as an audit manager, became a partner in 1981, led the long island office from 1984 to 1986, became assistant managing partner of the new york office in 1986, and from 1988 to 1999, led the new york office. in 1999, esposito became a regional managing partner and for two years, through 2001, was the firm’s chief executive officer.

cpa, partner, mba, leader, influencer, media celebrity

between 1996 and 1998, and while he was ceo, esposito was on the partner board and was also on the board of grant thornton international – the worldwide umbrella organization. in these capacities, he developed strong experience in strategic thinking and execution, international relationships, corporate governance, partnership matters, branding, expense control, client relationships, and new business development.

as ceo, he took grant thornton to record earnings, consummated the largest line-of-business sale in the firm’s history, developed a major joint venture with axa financial, and made the largest practice acquisition in the firm’s history. from 1969 to 1979, esposito was with price waterhouse (now pwc), servicing ibm when he was promoted to manager in 1976.

dom was a cpa, has been quoted in national and local media, and has appeared on radio and cable tv.

esposito also testified before the securities and exchange commission.

he received his m.b.a. from st. john’s university and his b.s. from ferris state university. accountingtoday, one of the leading trade journals for the accounting profession, named esposito one of the most influential people in the profession for two consecutive years.

he passed away in 2021 at the age of 74.

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