by martin bissett
passport to partnership
the passport to partnership study collated a number of responses in a conversational style. the need for commitment is showcased below and was repeated many times in various different ways.
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so many use us as a stepping stone and we’re now trying to determine who those are at the interview stage.
proof – if any were needed – that long-term commitment is not a given in the next generation of accounting professionals.
one question we ask is: would we want to pass our firm on to someone like this?
at all times, our performance is being evaluated by those in a position to progress our careers.
if we’re going to pay a reasonable salary, we want to make sure that we’re going to see a return in the short and long term.
a salary is a calculated investment decision made by equity holders in the firm with a view to providing a return for them on a recurring basis.
personal purpose checklist
which of these factors below on a scale of 1-10 (1 = not important at all, 10 = vital) truly gets you out of bed each morning on a consistent basis?
the expert council
from your wealth of experience, what is going to be the single biggest challenge for the next generation of practice leaders?
“letting bad habits die. there are many legacy practices and systems in current accounting firms that haven’t changed in 20+ years. the next generation will struggle with managing multiple generations at once and their ability (or willingness) to adapt to change.” – damien greathead, 2020 group usa
“it’s their adherence to an outdated model. they refuse to look at how they communicate, price and create value. it’s just a broken business model. it’s not all that different to napster and how it illustrated the obsolete state of the traditional music industry business model. we need business model innovation to add more value to the customer to begin with. right now we’re working with a hundred-year-old business model. the world has changed.” – ron baker, verasage institute
“learn to think imaginatively, in terms of your ability to serve clients. learn to leverage the skills of younger people to your firm’s advantage, rather than on the basis of longevity.
“concentrate on client service. your skills should be a given, not a reason to retain you. ask yourself every day – this is the way we did it yesterday. is it still the best way today? thinking this way produces amazing results.” – bruce w. marcus, professional services marketing 3.0