succession archives - page 8 of 15 - 卡塔尔世界杯常规比赛时间

how well do you represent your firm?

november 12, 2015

a 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.

the hazards of not reallocating partner equity

november 10, 2015

by succession institute

“this stage is usually when the crap hits the fan in many organizations.”

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

let’s look at the common pitfalls we find with ownership distribution, using scenarios to drive home various points. let’s say we have a five-partner firm.

the ownership and age is as follows:

partner equity age

senior partner 1 (sp1) 35% 65

senior partner 2 (sp2) 35% 63

junior partner 1 (jp1) 15% 53

junior partner 2 (jp2) 10% 48

junior partner 3 (jp3) 5% 42

first of all, many firms would die for this kind of age split as – unfortunately – many firms have partners much closer in age than this 23-year range example. but continuing on, let’s say senior partner 1 (sp1) wants to retire at the end of this year. if this would occur as it does in many firms, we would be scrambling for additional partners. but for the sake of this discussion, let’s say we just addedjunior partner 3 (jp3) last year and we will add jp1 immediately after sp1’s retirement with an ownership interest of 5 percent.

so, if this were to occur without unusual intervention, the new ownership percentages would look something like this a year later:

6 keys to the perfect proposal

november 6, 2015

by martin bissett

bonus 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 →

the 4 best ways to use your senior partners

november 2, 2015

by august j. aquila

and 6 reasons you need them around.

by august j. aquila
creating the effective partnership

there may be some senior partners who want to spend their remaining years basking in the sun or playing golf.

more on leadership: 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

but given the negative and low returns of the stock market the last few years, more senior partners will be concerned about their economic future and will want to stay involved in the profession. this can be a win-win situation for both parties or it can be a lose-lose. read more →

growth, succession plans critical for firms

november 2, 2015

by tamera loerzel

more from the rosenberg map survey.

they say “past results are no indication of future performance.” maybe. maybe not. but if anyone should know, it’s our panel of experts, their comments drawn from the new edition of the rosenberg map survey. these are their bullet points and comments, verbatim, looking back at the last 12 months and looking ahead to 2016. – rick telberg, ceo

by tamera loerzel
convergencecoaching

lessons from 2015:

capacity is the number one challenge in firms today. turnover, millennials working differently (and many leaving the profession) and succession all continue to impact capacity in firms. as mature partners with deep technical or industry expertise and rainmaking ability exit, firms are left with a gap that leaders have struggled to develop and replace at the pace they need to.

more on the 2016 outlook & forecast: cpa firm growth rates hit a wall | the five treacherous factors hobbling today’s cpa firm | sam allred: change agents needed | allan koltin on talent wars go from white gloves to boxing gloves | get the full report: the rosenberg map survey

growth continues to be a focus for firms and most firms are blessed with positive growth this year, including a combination of both organic and inorganic growth through m&a activity. the challenge is managing growth to ensure firms have the people – at the right levels with the right expertise – to serve the clients.

forecast for 2016:

what conversion really means for partners

october 30, 2015

by martin bissett

bonus 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.

communication: putting it all together

october 23, 2015

by martin bissett

bonuses: exercises to define your worth and value, then communicate that message.

by martin bissett
passport to partnership

an advisor is trusted when they can show that they

took responsibility for their end of the bargain in the client engagement,
educated the client of their responsibilities,
offered prompting and assistance throughout but then allowed the client to ultimately govern themselves in terms of following through on their commitments.

more on the passport to partnership: communication can’t be overrated | the 4 winning communications habits of top accountants | how to read your firm’s cultural blueprint | gauge firm culture to move toward partner | what culture really means for partners | 12 ways to determine your competence | passport to partnership: new research shows wide gap between partners and partners-to-be

this then empowers the advisor to make a commercial decision when the client now faces the consequences, as to whether they want to communicate even more assistance to make things all better for the clients and gain huge appreciation and emotional capital.

communication can’t be overrated

october 15, 2015

by martin bissett

bonus checklist: case study and 5 questions on how well you do.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style. several examples really stood out as the first steps in effective communication:

would we put this person in front of a client?

meaning: the clients are our source of income; we don’t jeopardize that for anything. if we think that this person will do anything less than consolidate the perception of the firm and its people in the eyes of the client, we’ll keep them back in the office.

more on the passport to partnership: communication: it’s not about you | the 4 winning communications habits of top accountants | what communication really means for partners | gauge firm culture to move toward partner | what culture really means for partners | 12 ways to determine your competence | what competence really means for partners | passport to partnership: new research shows wide gap between partners and partners-to-be

how does this person deal with those in support roles?

meaning: let’s never forget where we came from or labor under the misguided belief that because someone has less authority in the firm or a lower pay grade, they are somehow inferior to you.

communication: it’s not about you

october 8, 2015

by martin bissett

bonus: three outlooks from our exclusive expert council: pipe, dobek, grundy.

by martin bissett
passport to partnership

what does communication mean at the partner level?

more on the passport to partnership: the 4 winning communications habits of top accountants | what communication really means for partners | how to read your firm’s cultural blueprint | gauge firm culture to move toward partner | what culture really means for partners | firm culture is inevitable; make it work for you | 12 ways to determine your competence | what competence really means for partners | sailing through the seven c’s to partnership | passport to partnership: new research shows wide gap between partners and partners-to-be

ask yourself and answer these questions when considering the current and future communication tactics that you’ll employ.
read more →

the 4 winning communications habits of top accountants

october 1, 2015

by martin bissett

value your clients – and yourself.

component parts of how the other person perceives your in-person communication

by martin bissett
passport to partnership

i’ve had the benefit of meeting, speaking and observing hundreds of very successful and unsuccessful partners over the last two decades and there is indeed a set of differentiating factors that set a partner apart from the chasing pack.

more passport to partnership: what communication really means for partners | how to read your firm’s cultural blueprint | gauge firm culture to move toward partner | what culture really means for partners | firm culture is inevitable; make it work for you | 12 ways to determine your competence | what competence really means for partners | sailing through the seven c’s to partnership | passport to partnership: new research shows wide gap between partners and partners-to-be

here are the four “best-selling behaviors” that i’ve observed:

how to target what skills to develop now

september 22, 2015

by succession institute

bonus checklist: 12 competencies everyone in the firm needs.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

in discussing how to become a more effective people manager and developer, the first question we ask is, “what skills and aptitudes are you trying to develop?”

more on performance management: what having your employees’ backs means | 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership? | job 1 for the practice owner: client management

in other words, just saying to someone, “you need to improve” is weak advice.

what having your employees’ backs means

september 8, 2015

by succession institute

why failure is a value proposition.

by bill reeb and dominic cingoranelli
卡塔尔世界杯常规比赛时间 / succession institute

i want to start by talking about the phrase “having your employees’ backs.” so what does this mean? simply that, as the boss, you will take the bullets publicly for your people’s mistakes. this is such a rare phenomenon that many of you have never experienced what i am referring to – a boss taking the heat for his or her people.

more growth & succesion: 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership? | job 1 for the practice owner: client management

most of the time, when problems are uncovered, company cultures are “at the ready” to quickly identify someone to blame regardless of the situation. in these organizations, those with exceptional cya skills are the most highly valued. no, i did not misspell this acronym as it was not meant to be cia (as in the government intelligence agency or certified internal auditors), but rather those good at covering their butts (i guess i should have referred to it as cyb).

what communication really means for partners

september 3, 2015

by martin bissett

bonus chart: seven levels of communication management.

by martin bissett
passport to partnership

ultimately, when we have to interact with clients, subordinates, superiors or peers, the questions are always the same: who do i need to deliver this information to and what approach would they respond most favorably to?

in arriving at “communication” we come to the most intangible of all the components to obtain a “passport to partnership.”

more on the passport to partnership: how to read your firm’s cultural blueprint | gauge firm culture to move toward partner | what culture really means for partners | firm culture is inevitable; make it work for you | 12 ways to determine your competence | what competence really means for partners | sailing through the seven c’s to partnership | passport to partnership: new research shows wide gap between partners and partners-to-be

in the research, which is ongoing and evolving, communication is the term given in the study to where partners look for senior managers to demonstrate that they can do two things with existing client relationships: