partnership

18 essential management questions to cover at a retreat

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illustration with some employee symbols standing in circlesresponsibilities of the mp and other positions.

by marc rosenberg
cpa firm retreats

before formally beginning the discussion part of a retreat session, it’s always a good idea to begin by asking the participants what they want to be sure to cover.

more on retreats: 30 marketing and growth questions to cover at a retreat | how marketing for cpa firms is different | why create a marketing plan? | thinking of merging? discuss it at a retreat | how to take action after a retreat | 12 simple rules for a retreat | leave your retreat with a to do list | every retreat needs a leader, but who? | retreats are no place for clowns | who should participate in a retreat? | retreat logistics: how long, what kind? | what should cpa firms discuss at retreats? | why do cpa firms conduct retreats?

as issues are suggested, the facilitator should write them down on a flipchart, starting with: read more →

what do your true colors say about your commitment?

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the word "commitment" in letter blocks with four tiny businessmenbonus checklist: 5 questions for self-evaluation.

by martin bissett
passport to partnership

there’s no doubt that consistent commitment is not as widely practiced as current partners of accounting firms might like to think.

more on the passport to partnership: commitment: your view and your firm’s | what commitment really means for partners | businesses place value on expertise | how well do you represent your firm? | 6 keys to the perfect proposal | what communication really means for partners

business success is built on a dedicated team with a shared vision giving their all for the realization of that vision and the development of the next one.
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commitment: a cautionary tale for partners-to-be

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profile of woman with finger on her lips in "shush" gesturethere are times to chime in and times to stay silent.

by martin bissett
passport to partnership

ask yourself and answer these questions when considering the current and future “commitment” behaviors that you’ll employ.

more on the passport to partnership: commitment: your view and your firm’s | how to build your pipeline | how well do you represent your firm? | 6 keys to the perfect proposal | communication: putting it all together | how to read your firm’s cultural blueprint

1 – what is my first reaction to being asked to work outside of my normal hours?

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management styles: partnership vs. corporate

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"that's okay i don't know what the chart means either."bonus checklist: 25 best practices for managing partners.

by marc rosenberg
cpa firm retreats

in firm management and governance, we find two distinct management styles: partnership vs. corporate.

partnership style. democracy heavily impacts the way partnerships are governed. in a democracy, every partner has a vote and there is a “majority rules” mentality. a system of checks and balances prevents leaders from becoming dictators. the “citizens” want a reasonable amount of input into decisions.

more on retreats: 30 marketing and growth questions to cover at a retreat | how marketing for cpa firms is different | why create a marketing plan? | thinking of merging? discuss it at a retreat | how to take action after a retreat | 12 simple rules for a retreat | leave your retreat with a to do list | every retreat needs a leader, but who? | retreats are no place for clowns | who should participate in a retreat? | retreat logistics: how long, what kind? | what should cpa firms discuss at retreats? | why do cpa firms conduct retreats?

in a partnership style, partners have “certain inalienable rights” like:
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how much do partners earn? and why

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dollar on question markbonus: the 18 factors that drive partner pay.

by marc rosenberg

what do cpa firm partners actually earn?

more on partner compensation: how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

the statistics below usually vary by the size of the population market, though our experience working on numerous client projects with firms in small markets has shown that it is quite possible for firms in small markets to earn “large market” income.

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commitment: your view and your firm’s

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businessman with hand extended in "no" gestureour experts define the biggest challenge for the next group of leaders.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style. the need for commitment is showcased below and was repeated many times in various different ways.

so many use us as a stepping stone and we’re now trying to determine who those are at the interview stage.

proof – if any were needed – that long-term commitment is not a given in the next generation of accounting professionals.

more on the passport to partnership: what commitment really means for partners | how to build your pipeline | how well do you represent your firm? | communication: putting it all together | gauge firm culture to move toward partner

one question we ask is: would we want to pass our firm on to someone like this?

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does your dashboard need fine-tuning?

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chalkboard illustration of the balanced scorecard conceptnew times call for new cpa firm metrics.

by august aquila
creating the effective partnership

don’t kid yourself – it’s a new world out there. accounting firms need to become more transparent. partners and employees need to truly understand the firm’s vision and value proposition. they need to see how their daily actions move the firm toward its goals. mission and vision can no longer be vague, fluffy statements that mean nothing to your clients, employees and partners, and prospects.

more on leadership for pro members: 6 practical ways to innovate | 8 ways leaders destroy firms | the 4 best ways to use your senior partners | how to tell a culture change is due | today’s top six partner compensation trends | 11 steps to building a better partnership team | why your firm should be a republic | 8 financial ducks to line up now | partnership is about persuasion | 6 things leaders must do | it’s not always about money: 16 tweaks for your comp system | how to build a growth-centric pricing strategy | how to combine two firms after merger: carefully

this new environment requires firms to actually implement their goals by looking at specific objectives and measures. performance and execution are the key operatives. the old measures, by themselves, won’t do the job anymore. they are still valuable, but new measures are needed today. firms no longer compete with the firm down the street in terms of mere marketing. they now compete in how they
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what commitment really means for partners

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high angle view of business people stacking hands in a teamwork gesturebonus checklist: 13 steps to true commitment.

by martin bissett
passport to partnership

rising from senior manager to partner often means being promoted ahead of our peers and contemporaries. it creates a gap in earnings, stature and influence compared to those who just yesterday were our colleagues on a level playing field.

more on the passport to partnership: how to build your pipeline | how well do you represent your firm? | communication can’t be overrated | how to read your firm’s cultural blueprint | sailing through the seven c’s to partnership

it can also mean that if we are coming into a firm from the outside, we are being promoted over people who have served at that firm for many years and understand the culture of the firm a lot better than we do right now. we may have to lead these people as the head of a department and if so, they’d better be on our side.
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how to build your pipeline

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man with pipe dollarphotobonus checklist: 5 questions to evaluate your network and skills.

by martin bissett
passport to partnership

ask yourself and answer these questions when considering the current and future “conversion” tactics that you’ll employ.

  1. if i were to start today, could i name four businesses that i’d like to reach out to?
  2. what is our firm’s net fee growth goal this year and what can i do to contribute to it?
  3. what do i need to do to be able to handle the tough stuff like negotiation, pricing and handling objections? what start to learning these skills can i make today?

more on the passport to partnership: businesses place value on expertise | how well do you represent your firm? | 6 keys to the perfect proposal | the 4 winning communications habits of top accountants | gauge firm culture to move toward partner

building your pipeline

record the businesses you’d ideally like to work with or believe you can add value to below, for future inclusion in your personal pipeline.

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businesses place value on expertise

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woman's hand pressing words "ask an expert"shift thinking from “we” to “you.”

by martin bissett
passport to partnership

please start understanding, valuing and respecting your own value in the marketplace with clients who could not reach their goals without you.

businesses are in need – sometimes desperate need – of your technical expertise and caring approach.

more on the passport to partnership: how well do you represent your firm? | 6 keys to the perfect proposal | what conversion really means for partners | passport to partnership: new research shows wide gap between partners and partners-to-be

take that to them instead because, speaking as one who is looked after well myself, we love it and we are prepared to pay a premium without ever asking for discounts.

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how well do you represent your firm?

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angry boss in chair staring down at tiny businessmana cautionary case study.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style. the main example that really stood out as the major indicator of a need for each future leader to be able to “convert” new business is showcased below and was repeated many times in various different ways.

if this person wants to be considered for partnership in the future, we look at how are they promoting the firm to potential clients now.

meaning: if you’re trusted enough to represent the firm publicly, what perception are clients and potential clients getting about the firm based on their interactions with you?

more on the passport to partnership: 6 keys to the perfect proposal | what conversion really means for partners | the 4 winning communications habits of top accountants | 12 ways to determine your competence | sailing through the seven c’s to partnership 

a case study

michael had done well. his profile was rising as he became one of the firm’s leading “rainmakers” due to his natural ability to engage and gain the confidence of business owners and influencers alike.

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6 keys to the perfect proposal

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six vintage keysbonus checklist: 7 things that trusted advisors don’t need to do.

by martin bissett
passport to partnership

what makes a written proposal become accepted by the potential client – every time?

more on the passport to partnership: what conversion really means for partners | communication: putting it all together | the 4 winning communications habits of top accountants | what communication really means for partners | what culture really means for partners | what competence really means for partners | passport to partnership: new research shows wide gap between partners and partners-to-be

proposal writing is a micro-science in its own right but here are the proven principles that it takes to get proposals accepted. read more →

what conversion really means for partners

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businesswoman in wheelchair meeting with potential clientbonus checklists: 9 business development metrics you should be measuring, plus the 7 biggest errors when trying to win new fees.

by martin bissett
passport to partnership

like it or not, the 21st century accountant is in the relationship-building business. when a qualified accountant learns the art of developing those relationships in such a way as they empower the practice to be able to forecast its new fee income each year, the accountant becomes a profit center and their value to the firm increases tenfold.

more on the passport to partnership: communication: putting it all together | the 4 winning communications habits of top accountants | gauge firm culture to move toward partner | 12 ways to determine your competence | passport to partnership: new research shows wide gap between partners and partners-to-be

our fourth “c,” conversion, has flirted with being the top answer from respondents in the passport to partnership study and has featured in over 80 percent of all firms interviewed as to what makes a senior manager stand out as a potential partner.

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