five ways to put success into succession planning
a robust mentoring program can be critical.
by bill penczak
succession
from tax to transformation
transformation talks: taking a leap of faith into your own firm
with bill penczak
center for accounting transformation
preparing for the worst (thanks to my wife)
instant download: the practice continuation toolkit
by ed mendlowitz
call me before you do anything: the art of accounting
what happens when you don’t push work down
“stop defaulting to asking every talented person you have to work more hours doing stuff other people can and should be doing.”
by bill reeb and dominic cingoranelli
why you must constantly push work down
new staff won’t work the hours you did. forget that notion right now.
by bill reeb and dominic cingoranelli
succession issues stalling some m&a
owner agreements are seeing updates.
by terry putney
the rosenberg map survey: annual national study of cpa firm statistics
technology playing center stage in cpa profession
also: retirees who want their buyouts had better transition their clients.
by marc rosenberg
the rosenberg map survey: annual national study of cpa firm statistics
3 ways firms scare off successors
and 7 steps to making ownership attractive to new leaders.
by terrence e. putney
bridging the gap
6 questions for planning your succession
make your planning spell success.
by august aquila
10 steps to transitioning to a new mp
plus 4 questions to answer if the mp is staying with the firm.
by august j. aquila
what makes a great partnership
one of the most difficult events that a firm faces is the transition of power from one managing partner to another, especially when it’s the first time.
more on great partnerships: 5 ways to keep your edge | 5 reasons that leaders fail | 11 things all partners must do | why partners need written goals | the 6-step plan for transitioning clients | fighting restraining forces | chemistry and mutual respect matter | great cpa firm partnerships begin with trust | the 4 best ways to use pre-retirement partners
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knowing when to pass the baton and how to pass it are critical decisions every firm will have to make.
read more →
survey: next generation balking at buyouts
m&a doesn’t solve succession problems.
by terry putney, transition advisors
the rosenberg map survey
succession for retiring partners continues to be a pressing issue for many mid-size and small firms.
more from the survey: many firms have already lost the battle with succession | embracing new technology a must | technology will solve labor shortages | cybersecurity grows in importance | don’t just win work, figure out why | mergers keep racing forward | map survey top 10 findings
this is not a new trend. it is amazing how many firms are delusional about their prospects of remaining independent, while doing virtually nothing to address the core issue of acquiring and developing the talent necessary to build the new generation of owners.
read more →
many firms have already lost the battle with succession
doomed by outdated retirement formulas.
by carl george
the rosenberg map survey
firms are continuing to struggle with succession of the partner group exiting the profession.
more from the survey: recruiting and retention are challenges | technology will solve labor shortages | cybersecurity grows in importance | don’t just win work, figure out why | mergers keep racing forward | map survey top 10 findings
while i would hope these issues are being resolved, i really wonder if it’s not too late for many.
read more →
time is running out for succession planning
bonus: 22-point m&a due diligence kit.
by domenick j. esposito
8 steps to great
much has been written and discussed regarding succession planning at cpa firms driven by the vast number of founders, leaders, and rainmakers who are retiring at a record pace.
more on strategic planning: expand your national and global geographic reach | using a high-performance business framework | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior | cpa firm partner performance: different activities, different metrics | develop the partners you already have | how many partners do you need?
key takeaways in this post:
- mid-market sustainable brands generally combine practices as opposed to acquiring or buying practices.
- spend time to make sure it feels right.
- the easier part is getting the contract signed; the harder part is the integration of the two practices and to make sure 1 + 1 at least = 3.