344 search results for aquila+"creating the effective partnership"

bonus: 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
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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?
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you 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
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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.”
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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
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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.

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expectations 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
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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.
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it’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
exclusively 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.
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