take underdog hunger and become an “overdog.”
by domenick j. esposito
8 steps to great
being a cpa firm leader requires you to “walk the talk,” make tough decisions and avoid common traps or errors that are attributable to a failure of providing persistent and consistent leadership.
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in addition to “walking the talk” personally, a ceo must drive action and change.
an analysis-paralysis type of culture (no sense of urgency) has a significant impact on your ability to become a mid-market sustainable brand. for one thing, the firm will lose its senior partners and young “rising stars” as they will see the firm’s inability to get out of its own way.
how i performed as a leader, and what i take away
i can’t say that i always achieved a gold star for my performance in these areas. i had shortcomings when it came to patience. my work ethic, which was always exemplary (and continues to be such), often got in the way of building consensus and buy-in. yes, there are times when i did not do an a-plus job as a ceo, or as a managing partner or, for that matter, as a senior partner. at times, i wish i had listened more. at times, i wish i had spent more effort in analyzing options. at times, i wish i had acted on my gut and didn’t delay tough decisions. i was not perfect by any stretch of the imagination, but i did understand that persistence and consistency were keys to moving the firm forward, and i embraced these attributes.
i also embraced hard work, which often led to long hours and sacrifices, but i rarely allowed these to get in the way of a balanced personal life with my wife and my family. i took particular pride in developing my future partners. winning a marquee client was great excitement, and having that client acknowledge that we brought value was always very rewarding. still is!
most of all, i always “walked the talk” with my words and actions. for most of my professional career, i viewed myself as an underdog battling the giant four for both market share and quality people. i was always hungry (and i still am) to grow a mid-market category killer. my mentality has been to take my underdog hunger and convert it into being an “overdog” when it comes to the mid-market. that is the core of who i am, and i suggest it is the only way to achieve success in your quest to become a mid-market sustainable brand.
i don’t know if leaders are born or if they are trained. in my case, i believe it was a little bit of both. when i was a young adult, i wasn’t afraid to take leadership positions. i wasn’t afraid to make decisions and take calculated risks. i wasn’t afraid to work hard. i wasn’t afraid to fail and try again. as i began to mature, i became a sponge and started learning from other leaders and mentors. i looked at each of them. took what i thought was effective while learning the do’s and don’ts, and discarded their shortcomings.
as a seasoned veteran, i was keenly aware of my responsibilities to perpetuate my firm, and i focused intently on the development of our partner group and the quality of our clients. the right partners move the firm forward, and the senior partners are required to transfer knowledge, experiences and the sensitivity of thinking long-term. in my final years at the firm, i embraced this responsibility, and i enjoyed, more than ever, developing younger partners.
as the ceo of your firm, your personal balanced scorecard – or measure of success in making strides toward becoming a mid-market sustainable brand, perhaps the category killer – is based on your ability to progress in executing the firm’s strategic plan, improving the firm’s balance sheet, top line, bottom line and average partner earnings. cherish the responsibility and have fun executing.
key takeaways
- every word the ceo says, every action taken, has tremendous impact not only among the partner ranks but also throughout the firm.
- being a leader is very much like being a parent. you need to be persistent and consistent in your words, actions and principles.