choose intelligently and avoid problems later.
by marc rosenberg, cpa
what characteristics do you want someone to possess before you invite them to be a partner?
leading firms across the country generally choose from the following:
and six rules for keeping partners happy and productive.
by marc rosenberg, cpa
special to 卡塔尔世界杯常规比赛时间
“when a corporation says move left, everybody takes a step left. in a partnership, when you say move left, three people go to the bathroom, four people move right, and five people leave the firm.” — richard ungaretti, ungaretti & harris
related: compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…
in cpa firms, as the partners go, so goes the firm. the partners bring in most of the business, manage most of the client relationships and engagements, develop and mentor the staff and manage the firm. if the partners don’t perform these functions effectively, it is virtually impossible to be profitable and successful. read more →
super-successful firms are experts at achieving one or more these…
by marc rosenberg, cpa
the rosenberg map survey
if cpa firms did everything “right,” they could easily double or triple their income. doing things right includes effectively bringing in clients, charging high billing rates, maintaining strong realization, high leverage of staff to partners and keeping expenses down. it’s the rare firm that does well in all of these categories.
more practice management strategy: compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…
the path to profitability is different for every firm. but the truly profitable firms are successful at achieving one or more of the following: read more →
what mickey mouse can teach accountants about accounting.
by marc rosenberg, cpa
author of the rosenberg map survey
it has been said that organizations should never have profitability as a goal. why? because profitability should be the result of an organization’s efforts, not its goal. profitability is a measure of success in accomplishing core business goals. the disney corporation probably says it best in their mission statement, which is short and sweet, but very powerful: “our mission is to make millions happy.”
related: compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…
disney super-pleases parents by creating hundreds of quality movies and lovable characters children grow up with and adore, and by creating theme parks that tap into our fantasies and imagination.
a thankless job: divide, conquer and delegate.
most cpas are thrust into the managing partner role with little or no training or coaching. who teaches you to be an effective managing partner? how do you know if you’re performing well?
your partners won’t tell you. if you’re new to the job, do you just do it the same way as your predecessor? is that the best approach for the firm? who will mentor you?
gary adamason, longtime managing partner of dayton, ohio-based, bradyware, has been there, done that, and come back with a few wise words:
more at 卡塔尔世界杯常规比赛时间: what a coach can do for you | how to balance the six jobs of managing partner | the partner compensation checklist | how cpa firms make money in turbulent times
there are not too many places to turn for help. whether you are new or a veteran, here is an approach to organizing the job with a focus on dividing and conquering and delegating when necessary. read more →
how to make money merging in low-priced work.
by ed mendlowitz
question: i bought a tax return practice in december from a person that was charging $180 per hour. my rate is $300 per hour so i did not make money and i would like to know what i could do to raise fees so i don’t continue to lose on it. read more →
it’s a process.
by gary l. adamson
adamson advisory
there is a constant topic of conversation both inside firms and at almost every conference. it is the age-old question of partner compensation and “how do you do it”. as our firm grew, we evolved from everyone is equal, to the “slip of paper” approach, to a more goal driven, performance based system. every firm is a little bit different but the issues surrounding how you split the pie are pretty consistent.
don’t focus on what’s average. be exceptional.
by marc rosenberg
the rosenberg survey
i have never ceased to be amazed at the lack of understanding that partners – including managing partners – have about reading a map survey and computing map statistics. these difficulties prevent partners from properly using a map survey for the purpose for which it was intended: to improve firm performance. here are some of he biggest mistakes i see again and again:
what makes an accounting firm great? by august aquila aquila global advisors too many firms don’t give a lot of thought to the question.their main concern is surviving. but the sooner a firm can start focusing on what makes a great partnership, the better off it will be. think about this, if you don’t address this question, how will you know if you are admitting the right types of partners? what technical and personal skills would you want? what personal values (character) would you look for? here are seven characteristics that form the foundation of a great partnership. if you are missing any of them or if you merely need to improve in some areas, now is the time to start strengthening your firm’s foundation. read more →
last chance to take care of yourself, your career, your firm — before busy season begins.
despite economic recovery, many firms seem unable to capitalize on new opportunities. click here to join the tax season 2011 survey; get the results.
tax accountants are finishing the 2011 busy season with stronger results than they expected, but – perhaps surprisingly — not as strong as last year, despite somewhat improved economic conditions.
卡塔尔世界杯常规比赛时间 research suggests that many accounting firms may have over-reacted to the 2007 market crash by cutting staff and billing rates, leaving them unprepared to capitalize on the opportunities of the 2011 recovery.
marc rosenberg, author of the rosenberg map survey, says too many cpa firms fail to heed their own advice to clients: they don’t run their firms like a business.
get it right or get “a guaranteed recipe for under-performance.” finance and accounting leaders can’t develop and execute effective strategy without first gathering the right information, says harvard business school professor robert simons, a canadian chartered accountant. in his … continued