the toughest job in the world: managing an accounting practice

5 arrows curving upward5 tips for better firm management.

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?

more on great partnerships: do your partners pay their own way? | 7 keys to becoming an equity partner | how and why to achieve partner unity | how you can get partners to change | are you driving your best partners crazy? | 7 warning signs for your firm | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 financial ducks to line up now
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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.
read more →

11 things all partners must do

two businessmen discussing a projectit comes down to this: what does being a partner mean?

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.

more on great partnerships: do your partners pay their own way? | how to become the firm of choice | five factors for measuring a partner’s value | why accountability counts | communication goes both ways | 6 ways to pay partners | 8 questions to analyze your pricing
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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.
read more →

partner comp pearls of wisdom

woman holding paper and standing next to seated man in officedon’t forget how you got where you are.

by marc rosenberg
partner comp: art & science

during my 20-year consulting career, i have been privileged to meet many amazing managing partners, who were very generous in sharing their knowledge with me. i wanted to share them with you.

“the best way to make a lot of money is to build a great team beneath you.”

rosenberg’s take: eat-what-you-kill may work out fine for small firms, and may maximize short-term earnings for all firms. but cpa firms operate much more effectively and profitably with the one-firm concept, with all firm personnel working as a team.

more on partner compensation: paying for current vs. historical performance | partner pay in retirement transition period | how to pay non-equity partners | how large and small firms allocate income | partner pay: recapping the compensation systems | 3 tiers of compensation | partner compensation: an art, not a science
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

“if you’re weak at client service and good citizenship, you flunk and you’re out.”

read more →

how to become the firm of choice

august aquila: "at the end of the day, the partners are the culture of the firm."3 steps to take now.

by august j. aquila
what makes a great partnership

just think for a moment. your firm reaches the lofty goal of becoming the firm of choice in your given markets.

more on great partnerships: why partners need written goals | 7 keys to becoming an equity partner | how and why to achieve partner unity | how you can get partners to change | why expectations must be defined | 7 warning signs for your firm | don’t weed out the roses | 3 ways to halt a poor leader | 8 financial ducks to line up now
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you now win the best clients, you are able to recruit and retain the best people and you increase firm profitability. what’s not to like about this?
read more →