{"id":56597,"date":"2018-11-30t12:00:13","date_gmt":"2018-11-30t17:00:13","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=56597"},"modified":"2018-12-03t09:13:38","modified_gmt":"2018-12-03t14:13:38","slug":"are-you-too-small-to-endure","status":"publish","type":"post","link":"\/\/www.g005e.com\/2018\/11\/30\/are-you-too-small-to-endure\/","title":{"rendered":"8 steps to small firm survival"},"content":{"rendered":"

\"hand<\/a><\/em>go big or go deep: here’s how.
\n<\/strong><\/p>\n

by domenick j. esposito<\/i>
\n
8 steps to great<\/i><\/a><\/p>\n

there are approximately 14,000 multi-partner cpa firms in the u.s. and yet, according to accounting today\u2019s 2018 top 100 firms survey, only 100 firms had annual revenues of at least $40 million; the median revenue was approximately $86 million.<\/p>\n

more on strategic planning: <\/b>don\u2019t have partner candidates? whose fault is that?<\/a> | how partners fail<\/a> | is it time to manage your receivables like a real business?<\/a> | mine vs. yours vs. ours<\/a> | 22 things leaders must do<\/a> | 21 questions to help unlock accelerated growth<\/a> | m&a candidates: valuations and vetting<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>
log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

the statistics are staggering. we have many small cpa firms in this country serving the mid-market and, regardless of size, in this emerging economy many firms are finding it difficult to organically grow their audit\/tax practices at an acceptable rate (say 6 percent to 8 percent per annum). without healthy profitable growth on the top and bottom lines, any firm will struggle and ultimately die.
\n
\nso here is the question i ask you to ask yourself and your partners \u2013 is your firm too small to endure? if your answer to this question is either maybe or yes, you have to decide which strategic path your firm needs to follow. there are basically two alternatives for most firms:<\/p>\n

    \n
  1. go big or<\/li>\n
  2. go deep<\/li>\n<\/ol>\n

    \u201cgo big or go home. otherwise, you\u2019re wasting your youth.\u201d<\/p>\n

    \u2013 jack\u00a0ma<\/p><\/blockquote>\n

     <\/p>\n

    either path will result in what i refer to as building a sustainable brand. deciding which path is right for your firm starts by answering these tough questions:<\/p>\n