{"id":104237,"date":"2022-11-04t12:00:33","date_gmt":"2022-11-04t16:00:33","guid":{"rendered":"\/\/www.g005e.com\/?p=104237"},"modified":"2024-08-07t23:10:19","modified_gmt":"2024-08-08t03:10:19","slug":"the-three-challenges-on-the-road-to-partnership","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/11\/04\/the-three-challenges-on-the-road-to-partnership\/","title":{"rendered":"the three\u00a0challenges on the road to partnership"},"content":{"rendered":"
<\/a>and why we need them.<\/strong><\/p>\n by martin bissett<\/i> now we move on to our sixth “c” in the passport to partnership \u2013 challenges.<\/p>\n more: <\/b>prepare the next generation now<\/a> | five ways to show commitment<\/a> | selling isn\u2019t hard<\/a> | do you make your firm look good?<\/a> | 4 top communication habits<\/a> | making partner when competence isn\u2019t enough<\/a> again the heading has more than a single application, which we\u2019ll explore here. naturally, because this became a consensus answer, we speculated as to how often an occurrence of one of the above\u00a0would be for a manager to need to be able to demonstrate their abilities in rescuing a client or the firm as a result of a previously substantial error.\u00a0it would appear to be fairly commonplace.<\/p>\n regardless of the reason, though, the partners we spoke to looked to the manager to handle such situations with calmness, decisiveness and integrity.\u00a0it is that decisiveness where the majority felt that they weren\u2019t seeing this behavior demonstrated by their managers.<\/p>\n the managers, perhaps understandably, looked for confirmation that their course of action was partner-approved. the partners, however, wanted the managers to demonstrate that they could make the bold decisions in preparation for when there were none more senior to ask.<\/p>\n challenges, then, are\u00a0defined by the attitude, experience, critical problem-solving skills and logical process abilities that a manager can show himself or herself\u00a0to be in possession of when the pressure is on. this is our sixth “c.”<\/p>\n get challenged, get excited<\/strong><\/p>\n it\u2019s human nature for us to feel discouraged, inconvenienced or demoralized by anything that gets in the way during the working week of us carrying out that which we\u2019d planned to do. this leads us to viewing a challenge, issue or problem in a negative light.<\/p>\n viewed differently, however, challenges<\/p>\n 1. health<\/strong><\/p>\n our career health can be blighted by lapses in judgment, apathetic outlooks and “knowledge neglect.” “knowledge neglect” is the stage of your career that you get to where you\u2019re either too busy, too disinterested or both. in continuing\u00a0to learn and hone your skills as a leader, as soon as we stop wanting to learn about leadership, we should stop trying to lead.<\/p>\n stress:<\/strong> stress seems to have become an overused word to describe everything from being very busy through to genuine psychological pain. stress is a constant companion in running a successful and competitive cpa firm and only the triple combination of the very best in processes, profitability and personnel can elevate this on an ongoing basis. if address any “no” you might have scored, immediately.<\/p>\n political infighting: <\/strong>how often have you encountered the following?<\/p>\n and so on it goes. political infighting is career cancer and must be avoided at all costs. that\u2019s a lot easier said than done, but it must.<\/p>\n from experience, true colors tend to come out in the end and the ownership of the cpa firm you work in see going stale:<\/strong> most of us have experienced that “not another year at this firm” feeling when january comes around. the skill is making sure that there are enough challenges to keep our skills sharp and developing while staying on the right side of work\/life balance.<\/p>\n 2. wealth<\/strong><\/p>\n poor customer service:<\/strong> this is another proven method for retarding growth. a $10,000 client is worth $100,000 minimum to your firm before referred work and cross-selling are taken into consideration and it could easily cost that same $100,000 just to try and replace that core work from the client alone, before all the add-ons.<\/p>\n the client may not always be right, but they do always pay your salary.<\/p>\n no new business:<\/strong> a reliance on referral work leads to two main concerns:<\/p>\n business development is a foundational behavior of the 21st-century cpa and new fees, higher fees, more enjoyable work should always be being targeted by the firm.<\/p>\n frozen fees:<\/strong> our bills went up last year. the client\u2019s bills went up last year. yet so many firms think that they somehow can\u2019t raise their fees because the client might leave. then let them, especially\u00a0if they are unprofitable ones that don\u2019t refer profitable work to compensate you.<\/p>\n “but what if we can\u2019t replace them?” is the usual response. “you must not be offering anything more attractive than the worst of your competitors” is a valid reply.<\/p>\n your best prospective clients are almost always your competitor\u2019s clients. if you deliver mutually recognized value to your clients, raise your fees.<\/p>\n 3. stealth<\/strong><\/p>\n litigation:<\/strong> always be aware of the silent specter of litigation from a client, a competitor, a supplier or some other unexpected source. litigation can disable a firm\u2019s profitability by tying it up in bureaucratic red tape whether justified or no.<\/p>\n competition:<\/strong> today, one of your competing firms successfully or unsuccessfully contacted\/wrote to\/met one of your existing clients. this tactic will only increase as time goes on \u2026 because it\u2019s successful.<\/p>\n legislation:<\/strong> audit levels rise; compliance is increasingly taken care of by technology. the market for the first becomes the preserve\u00a0of the larger firms and the market for the latter becomes the preserve of the cheapest firms. how will you ensure profitability for your firm in the face of increasingly relaxed legislation that allows these two scenarios to occur?<\/p>\n","protected":false},"excerpt":{"rendered":"
\npassport to partnership<\/i><\/a><\/p>\n
\nexclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n
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\nultimately, the partners interviewed in our research broke “challenges” down into two key areas:<\/p>\n\n
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what challenges do we encounter on the road to partnership?<\/h3>\n
\nyou\u2019re already suffering from stress perform this diagnostic immediately:<\/p>\n\n
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\neverybody for who they really are anyway. if they don\u2019t, then it\u2019s time to question whether you are in the right cpa firm.<\/p>\n\n