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eight ways that firms benefit.

by marc rosenberg
the rosenberg practice management library

there are two cases for heavy managing partner oversight in practice development.

first case. cpa firms are very top-line-oriented businesses. expenses are largely fixed because most are for personnel compensation and benefits, so opportunities for increasing profits from cost-cutting are greatly limited. as a result, increases to the revenue or top line often fall directly to the bottom line. it’s easy to see why, far and away, increasing revenue is the most effective way to increase profitability. because the managing partner is (or should be) responsible for the firm’s profits, it makes total sense for the managing partner to play a major role in the firm’s growth.

more: 10 ways to hold partners accountable | five ways to evaluate partners | manage partners with goal setting | overarching authority that managing partners must have | herding cats: advice for managing partners
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second case. if a firm’s staff is its most important asset (or at least tied with clients), then revenue growth is the firm’s life-giving force. without revenue increases, firms become stagnant and die a slow death. therefore, revenue growth requires heavy involvement by the managing partner.
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five red flags.

by marc rosenberg
the rosenberg practice management library

there are two sides to every discussion. i may have made it seem as if you’d have to be a fool not to want to be a partner. but being a partner isn’t for everybody. the reasons listed below exclude issues not germane to this discussion, such as a desire to change careers, opportunities to join one’s family business or boredom with accounting.

more: nine reasons people are promoted to partner | how to make partner?
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long hours. at most firms, when the staff leave, the partners are still working. some feel it sends a negative message to the staff because it implies that there is an expectation for partners to work long hours and therefore make it difficult to enjoy a healthy work-life balance. rosenberg map survey metrics corroborate this: partners average around 2,410 total work hours but the staff average is 2,280, a difference of 130 overtime hours.
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