these lessons were learned the hard way in the media business.
but they can apply to accounting firms just as well. read more →
strategy
managing partners must remember partners’ needs
and 4 questions to consider.
by robert j. lees, august j. aquila and derek klyhn
creating the effective partnership
professionals loathe anything bureaucratic. but we know of many firms who ask their partners to account, in detail, for every minute of their time.
to ask high-need-for-achievement professionals at the top of their field to provide what, to them, is bureaucratic data immediately implies a complete lack of trust and respect for their expertise and their position. it is simply a motivational disaster, which distances the partners from the firm. partners know that they have to account for their time but we know too many firms that, often at the behest of the finance function, ask for a level of specificity that drives the partners to distraction.
like herding cats: partners must ‘walk together’
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.
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.
5 questions about your firm’s direction
setting direction is the first step.
by robert j. lees, august j. aquila and derek klyhn
creating the effective partnership
how do successful managing partners respond to the internal and external challenges they face?
without exception, all of the partners we spoke to talked about the need to have a clear sense of direction that the partners, in particular, could coalesce around. but what they considered even more important is the translation of that direction into a compelling vision and the strategies for achieving it.
jody padar to lead all-day online “radical cpa” workshop
the radical cpa: new rules for the future-ready firm…
partners have love-hate relationship with leadership
by robert j. lees, august j. aquila
and derek klyhn
creating the effective partnership
regardless of their ownership structure, most firms either operate as partnerships or would prefer to operate as partnerships.
the tensions between being a business and the loss of the values and ethics of being a partnership feature strongly in our research.
but accounting firms are different from their corporate counterparts in a number of ways, which impact their functioning and, therefore, their leadership. read more →
before negotiations begin: 18-item checklist for a first meeting
the “getting-to-know-you” stage for prospective buyer and seller
by marc rosenberg
cpa firm mergers
all merger discussions have to begin somewhere. after merger candidates have been identified, there obviously needs to be an initial meeting for the two firms to get acquainted.
everything is confidential and informal. no exchange of financial statements. the two parties simply spend an hour or two – you guessed it – getting to know each other.
many firms like to convene this meeting over breakfast or lunch because meeting at a restaurant gives the encounter an air of informality and sociability. other firms like to do this in the larger firm’s office so that the smaller firm can get a “house tour.” read more →
6 ways to know what you don’t know
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: occasionally i get a new client in an area i am unfamiliar with. how do i find out what i do not know?
response: this happens to everyone and probably more often than we expect. thankfully we will continue to get new business and getting clients in areas we are unfamiliar with enables us to grow.
more practice doctor q&a: 10 do’s and don’ts for making small business clients happy | client’s difficult daughter balks at bill | 6 simple steps to impress a prospect | 10 (nearly) painless ways to keep up to date with technology | when a staffer stops listening | 10 ways to get new 1040 clients | making meetings more productive | tax return reviewer ticking and tying
here is what i suggest: read more →
29 tips to become a top achiever
it’s easy to get discouraged. here’s how to not let it happen to you.
courage and perseverance are traits you can actually nurture and develop. from the financial advisors’ advisor horsesmouth.com, here are 29 tips compiled from top achievers. try one today. read more →
check your relationship ratios for better business success
by sandi smith leyva
the accountant’s accelerator
here’s a quick exercise: choose any person in your work life or personal life. now think back to last few interactions you had with that person. recall what was said and classify your list into two groups.
what interactions, comments and questions did you have with your chosen person that were negative? here are some examples of things that are in the “negative” group: read more →
what does being a partner mean?
partners persuade their people to join them on the journey and to play a part in building a better firm.
by robert j. lees and
august j. 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. 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.
creating the effective partnership: every partner’s first question: ‘what’s in it for me?’ | the 9 building blocks of a winning vision that the big four have discovered | the politics of an accounting firm partnership | nine rules to creating highly effective partnership teams | audacious vision and grand purpose prove essential to cpa success | are you creating a sustainable firm? | the debilitating effects of denial at accounting firms | the five psychological hurdles that cpa firms must confront today read more →
four leadership strengths that define accountants
how clients value the intangibles.
by hitendra patil
pransform inc.
“what leader has the most positive influence in your daily life?”
the answers to that gallup poll question may be astoundingly important for cpas who strive to make a positive difference in the lives of their clients. read more →
deciphering the current state of the cpa firm merger market
by marc rosenberg
cpa firm mergers
with 80 percent of first-generation firms never turning over to a second generation of owners, it’s no wonder that merger mania continues unabated. each year sees increased merger activity over the one previous.
“merger mania” is particularly prevalent among the top 10 to 25 firms in the largest 75 markets in the u.s. and canada, partly due to the “new normal” – an economy that remains too sluggish to satisfy the ambitious growth targets of these top performers. but acquiring talent and niches is equally as important a reason for mergers to these larger firms, as is increased revenue.
sellers, however, remain hesitant.