a small cadre of tax and accounting firms is rewriting the rules of practice management to make more money, grow their firms and serve clients better.
there will be winners and losers. take a cue from the winners in how the new breed is changing everything…
– rick telberg
president / ceo
read this week’s complete research update
“pioneer” firms are beating the competition on all measures. here’s how they’re doing it.
[ pro members get the instant download: succeeding in the new economy ]
by rick telberg
by any measure – revenues, profits, shareholder value, technology, client retention, talent development – the profession’s small minority of bold innovators are quickly seizing market share from late-comers and establishing new standards for the rest of the profession, according new data studied by 卡塔尔世界杯常规比赛时间.
by one reading of the data, some 73% of firms are in danger of falling hopelessly behind, while 8% of firms — representing all sizes — are surging ahead. not surprisingly, then, two-thirds of cpas are bracing for upheavals in ownership and management at their firms.
but some small, focused changes hold the potential for yielding big results. today’s owners need to be smart about how to deploy their precious resources of time, money and talent. and there may be as many right answers as there are difficult challenges.
卡塔尔世界杯常规比赛时间 believes that firms don’t need to become pioneering innovators in all areas of the business, but if they can take initiatives on one, two or three at a time, they may be able to nudge their firm out of the undifferentiated mainstream and into the vanguard of excellence and success.
plus: four more success drivers.
by robert j. lees
and august j. aquila
creating the effective partnership
so how do top accounting firms ensure their people operate cohesively and consistently in a highly networked organization?
the answer, in addition to ensuring they are engaged with the firm’s vision and want to play an active part in its delivery, is through an all-pervading set of values.
every successful firm we know has a set of values that are part of the firm’s dna. they drive people’s actions and help them to make the “right” decision should there ever be any doubt about which action to take.
but there are at least four more elements that distinguish the world’s leading professional services firms. read more →
new study finds shortage of seniors and managers.
see key findings, salary tables, and download full report
u.s. starting salaries for accounting and finance professionals are expected to rise an average of 3.4 percent next year, with the heaviest demand for financial and business systems analysts, internal auditors and entry-level accountants.
“many hiring managers are encountering difficulty finding professionals with the specialized skills they need to achieve their growth goals,” according to the new study.
statistics can inform.
but when misused they can distort, according to 卡塔尔世界杯常规比赛时间 contributor marc rosenberg, chief author of the nation’s leading practice management survey. here, he cites three benchmarks that firms often use — and misuse:
rosenberg explains:
which is greater: the firm or the individual?
by robert j. lees
and august j. aquila
creating the effective partnership
the lifeblood of any firm is its ability to bring in new, profitable clients or expand the work it does for its existing clients. so bringing in new business is an essential element of the successful firms we’ve studied.
of course, not all partners are effective operating in an environment where they have no pre-existing relationships, whereas some find it easy. the key for any firm is to use its resources where they will achieve the best return rather than expect everyone to be good at everything.
regardless of which environment they operate best in, every partner must bring in new profitable business that enables the firm to grow and develop – and, critically, provides security of tenure for the firm’s people.
but truly great firms also have partners who make a habit of three more behaviors:
read more →
…is about talent, turnover, partners and technology.
dan gaffney takes issue with the reports of a talent shortage, saying, “i believe the biggest new pool of talent is professionals over 50.”
frank stitely, already in his 50’s, is looking for “someone with a younger generation’s view of technology.”
and next-gen advocate alexandra defelice says stop worrying about “junior staff looking to quickly increase their salary or decrease their hours.” worry more, she says, about the more seasoned staff with a big book of business.”
we know the debate won’t end there. you can still weigh in by joining the 卡塔尔世界杯常规比赛时间 talent study. we look forward to hearing from you.
see the latest 卡塔尔世界杯常规比赛时间 research update.
– rick telberg
president / ceo
how to set and enforce standards of performance.
by robert j. lees and august j. aquila
creating the effective partnership
partners are the culture in a professional services firm – what they believe, what they reward, what they do and how they do it determines what and how things get done.
but, one of the problems we consistently hear about is the lack of clarity in what being a partner means. and, in the absence of clarity the partners typically fill the gap by doing what they think it means, with all of the differences of thought and behavior that inevitably brings. read more →
what if you were starting your practice all over again today?
doug sleeter, ceo of the sleeter group and host of the annual sleeter conference, asks: what’s stopping you from making those changes today?
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if you don’t deliver, your competitors will.
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you already have your clients’ full attention. take the next step. show them you’re “more than just tax.”
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to see how accountants are rising to the challenge, join 卡塔尔世界杯常规比赛时间 at the sleeter group accounting solutions conference, nov. 3-6 in las vegas. save $100 at registration with code rtasc100.
more from doug sleeter on new opportunities and imperatives in technology for accountants:
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[play all] see the full interview.
more on the new war for talent
by marc rosenberg
the rosenberg survey
professional staff turnover has jumped by much as 50% in one year, averaging now almost 18%.
these results were across all firm size ranges. this data is hot off the presses of the rosenberg map survey.
what happened? a return to the “old normal.”