364 search results for marc rosenberg

how to structure partner buy-in

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businessman writing out a check8 considerations to factor.

by marc rosenberg
how to bring in new partners

we’ve said that large buy-ins for new partners have fallen out of favor, but regardless of the amount, questions about structure remain the same.

more: keys to bringing in new partners | working business development into your day | networking for fun and profit | 14 marketing activities needed now more than ever | now is the time to activate your referral network | the 4 marketing disciplines | why you have to kill the old paradigms | are you ready for the great disruption?
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the eight points to consider include:

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should the managing partner be the highest paid partner?

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businesspeople standing atop 5 stacks of coinsit depends, and not on what role you play.

by marc rosenberg
partner comp: art & science

there  are  two  responses to the headline question. first, there is no automatic rule or customary practice that says the managing partner shall be the highest paid partner.

more on partner compensation: how large and small firms allocate income | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | what partners earn and how they earn it | why most partner comp systems are performance-based

second, it depends on how the mp’s overall performance compares to other partners. firm management, originating clients and the size of one’s clients under management (“book of business”) are far and away the factors that earn the most income for a partner.

here are illustrations of various scenarios:
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how to set the managing partner’s compensation

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businessman holding multiple dollar signsa management stipend keeps the mp “whole.”

by marc rosenberg
partner comp: art & science

many firms, especially under $10 million, have a partner on board with the title of managing partner who in reality functions more as an admin partner. this post only addresses how the true mp should be compensated.

more on partner compensation: how large and small firms allocate income | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems | 3 subjective compensation systems | partner compensation 101

ok, for those of you dying to know what a true mp is, here’s the scoop. a true mp:
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10 best practices for setting goals

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smart goal setting diagram, business conceptplus mission statements vs. vision statements.

by marc rosenberg
cpa firm retreats

a mission statement is:

  • an overarching purpose or reason for being
  • why we exist
  • motivating, distinctive and feasible
  • action-oriented; it should lead to change and improvement or it has no value

more on retreats: 5 reasons cpa firms are bad at succession planning | staff best practices … for the firm | staff likes and dislikes about the accounting profession | 25 ways to turn good firms into great firms

cpa firms have a very difficult time creating mission statements that are motivating and distinctive. regardless of how hard firms try, most cannot come up with a mission statement that is different from every other firm. for this reason, i advise firms to skip the creation of a mission statement.
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how large and small firms allocate income

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dollar on question markhow many of these 8 criteria does your firm use?

by marc rosenberg
partner comp: art & science

for purposes of this post, we will group cpa firms according to five different sizes:

more on partner compensation: integrating partner comp with strategic planning | crash course: operating a compensation committee | partner pay: open vs. closed compensation systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | why most partner comp systems are performance-based

  1. the big 4. they are the ultimate of sophistication, running their firms as true, colossal corporations, regardless of their legal entity. virtually none of this post relates to big 4 firms.
  1. the top 100 firms, excluding the big 4. the 100th largest firm was $33 million in 2015.
  1. multipartner firms from $15 million to $33 million.
  1. multipartner firms from $5 million to $15 million.
  1. multipartner firms below $5 million.

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how to start strategic planning

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businessman writing on a flip chart16 questions to ask.

by marc rosenberg
cpa firm retreats

strategic planning is the process of examining where you are now, where you want to be and most importantly, what you need to do to get there. it’s that simple.

more on retreats: how to identify partner potential in staffers | 13 steps in succession planning | staff best practices … for the firm | 25 ways to turn good firms into great firms | make more money | how to address partner compensation at a retreat | how to decide who decides what | how marketing for cpa firms is different | how to take action after a retreat 

the word “process” is very important. many people view strategic planning as an event, fixed in time, the results of which are bound in an immaculately prepared document and cast in stone. actually, strategic planning is a never-ending process. it goes through phases; it is continually monitored, changed and tweaked as circumstances warrant.
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integrating partner comp with strategic planning

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businessman shooting arrows at targetwhy firms fail at strategic planning and how it relates to compensation.

by marc rosenberg
partner comp: art & science

the majority of firms under $10 million don’t have a proper written strategic plan, with partner goals, in place.

more on partner compensation: 3 non-performance-based comp systems | the 3 best partner compensation formulas | 11 points in designing a partner comp system | what partners earn and how they earn it | partner compensation: an art, not a science | why most partner comp systems are performance-based

a proper strategic plan should include these features:
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