plus: how to get past your aversion to sales.
by marc rosenberg
the rosenberg practice management library
as with just about anything, people can be taught business development skills if they study hard, apply themselves and, most of all, have a healthy, positive attitude toward bringing in business.
more: how marketing systems produce business growth | 14 marketing activities needed now more than ever | now is the time to activate your referral network | the 4 marketing disciplines | why you have to kill the old paradigms | are you ready for the great disruption?
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“can people be taught practice development skills?” in 20 years of consulting to cpa firms, we have been asked this question hundreds of times. the answer, most certainly, is “yes.” note, the question is not “can people be taught to be rainmakers?” the answer to that question is mostly “no.” there is a big difference between being a rainmaker and learning business development skills.
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because covid-19 punishes the complacent.
by marc rosenberg
the rosenberg practice management library
there are some products that are so iconic and popular that it doesn’t seem possible that their success could ever be in jeopardy. oreos. the new england patriots. microsoft office. it must be wonderful to own and manage businesses like these that seem to run themselves.
more: how covid impacts partner retirements | three tough questions in partner buyouts | reward partners for performing like partners | 7 points of a well-crafted partner buyout agreement
cpa firms enjoy no such advantaged status. but with the covid-19 crisis, firms need to short-circuit the natural processes of maturity and stagnation and think about how to get re-set right now.
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how long do you want your firm to last?
by marc rosenberg
the rosenberg practice management library
two-thirds of partner agreements include a mandatory retirement provision. this provision usually requires partners to give up their equity but allows them to continue working in some fashion. a common stipulation is that if a “retired” partner wishes to continue working, either full- or part-time, this must be approved annually by the other partners. but with the covid crisis, annually may come sooner than expected.
more: three tough questions in partner buyouts | is mandatory retirement a best practice? | merging in sellers: what you need to know | take yoda’s advice on strategic planning
here are two opposing viewpoints on a mandatory retirement provision to consider the next time you review your partner agreement:
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systems enable your plan to reach its potential.
by marc rosenberg
the rosenberg practice management library
we’ve explored key components of the overall framework for cpa firm practice development.
more: 14 marketing activities needed now more than ever | how not to develop your practice | 6 keys to developing new client prospects | now is the time to activate your referral network | does your firm recognize all its skills? | protect and grow existing clients | the 4 marketing disciplines
now it’s time to address the final piece of the overall framework: the enabling systems that will optimize a cpa firm’s success in achieving its growth objectives.
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when firm investment hits your own wallet.
by marc rosenberg
the rosenberg practice management library
partner buyout plans can be difficult to navigate. we want to be fair to our partners, and we want to be treated fairly in return. in the process, differences of interpretation inevitably arise.
more: is mandatory retirement a best practice? | covid-19: how your firm can respond | 8 ways comp systems get partners to do what the firm needs | buyers name 20 big merger turnoffs | why governing by partner ownership is bound to fail
here are three queries we’ve recently received you may find instructive:
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