{"id":106608,"date":"2022-12-29t12:30:21","date_gmt":"2022-12-29t17:30:21","guid":{"rendered":"\/\/www.g005e.com\/?p=106608"},"modified":"2024-08-07t23:10:00","modified_gmt":"2024-08-08t03:10:00","slug":"nine-reasons-staff-should-want-to-become-partners","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/12\/29\/nine-reasons-staff-should-want-to-become-partners\/","title":{"rendered":"nine ways to woo a prospective partner"},"content":{"rendered":"
<\/a>plus counterarguments for those who say they don\u2019t.<\/strong><\/p>\n by marc rosenberg<\/i> partners have it great. if a staff person really gets a proper, thorough understanding of why it\u2019s fantastic to become a partner in a cpa firm, there are almost no reasons for not<\/strong> wanting to be a partner. well, there are a few, but we\u2019ll discuss them later in the post.<\/p>\n more: <\/b>nine reasons to make someone a partner<\/a> | tell potential partners what it takes<\/a> <\/p>\n in 2020, the income of equity partners in cpa firms under $20 million in revenue (99 percent of all multipartner firms) averaged $300,000 to $500,000, depending on their size and location. this number is substantially higher for firms larger than $20 million. this is more money than 95 percent or more of all people in north america earn and is almost always substantially higher than their parents earned. no question: the money is wonderful.<\/p>\n as parents, we try to counsel our children on a career to pursue. some parents advise their kids to pursue their passion, regardless of the hurdles. others advise their children to pursue a noble career that will enable them to earn a nice living. i always have advised young people, including my own children, that it is quite possible to have both: a career that you are passionate about and<\/strong> that pays well. that\u2019s the overarching reason why staff should want to be a partner. if you are not passionate about the profession of public accounting, that might be a good reason not to pursue a partnership.<\/p>\n many partners have told me that it became easier to bring in business when they were able to tell people they were a partner in such and such a firm. it\u2019s the classic chicken or the egg argument. were they more successful at business development because of their maturity and self-confidence, and the partner promotion was merely the icing on the cake? or was the development of these traits possible only once the person was promoted to partner? this is one of those questions that have no answer.<\/p>\n there are two sides to every discussion. the previous section might have made it seem as if you\u2019d have to be a fool not<\/strong> to want to be a partner. but being a partner isn\u2019t for everybody. the reasons listed below exclude issues not germane to this discussion, such as a desire to change careers, opportunities to join one\u2019s family business or boredom with accounting.<\/p>\n counter to this: i defy anyone to find a highly successful executive in any organization, regardless of the compensation, who doesn\u2019t put in extra time. if your goal is to be a 9-to-5er, then you shouldn\u2019t be a cpa firm partner.<\/p>\n counter to this: as a practical matter, in my 20 years of experience, i\u2019ve seen an extremely small percentage of firms have significant legal problems. when they do, it\u2019s rarely catastrophic.<\/p>\n counter to this: the vast majority of cpa firms have partner buyout plans that work very successfully, without putting undue financial stress on the partners. in fact, buying out older partners will most likely be the best investment a partner ever makes.<\/p>\n another counter: if the buyout plan looks unaffordable, the partners can always pursue an upward merger to resolve this problem.<\/p>\n counter to this: can you show me anyone who is a highly successful professional, especially a business owner, who is free of stress? here\u2019s a lesson in psychology, taught to me by my psychologist wife, dr. ellen rosenberg. there are two kinds of stress: good stress and bad stress. good stress, though it doesn\u2019t always feel good, drives you to achieve better things, makes you creative and stronger. bad stress is not good for your health. examples are a tragic death of a family member or a natural disaster. most of the stresses of being a partner in a cpa firm are good stresses.<\/p>\n counter to this: there is none, other than the old saying that patience is a virtue. i personally think firms take too long to promote staff to partner, so i see why some staff are unwilling to wait.<\/p>\n so staff, if you like your firm, you like your work and you want to have a successful, lucrative professional career, these obstacles should not stop you from pursuing a partnership.<\/p>\n talk to your young staff about why being a cpa firm partner is an awesome career. but don\u2019t stop there. describe the benefits of being a staff person at your<\/strong> firm: the interesting, challenging work they\u2019ll be assigned, the excellent compensation potential and advancement opportunities, their own personal baptism to the world of business. then watch what happens.<\/p>\n a star will be born.<\/strong><\/p>\n give your stars access to cutting-edge technology. provide constant training and feedback and flexible work options, especially for people who want to combine careers with raising a family. build team spirit and go beyond it to a team orientation to servicing clients. make your staff understand how their work contributes to the overall success of the firm, and more than that, why they should care<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nhow to bring in new partners<\/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\n
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why someone might not want to be a partner<\/h3>\n
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partners: sell your staff on what a great job you have!<\/h3>\n