25 ways to turn good firms into great firms

leader addresses co-workersprofitability and benchmarking are part of it, but not all of it.

by marc rosenberg
cpa firm retreats

the 25 best practices below have been extracted from rosenberg’s work with great firms over a 20-year period. few firms do them all, but the elite firms do most of them.

more on retreats: partner buyout 101 | 27 tough questions every firm needs to address | 10 benchmarking missteps | 18 essential management questions to cover at a retreat | thinking of merging? discuss it at a retreat | retreat logistics: how long, what kind? | why do cpa firms conduct retreats?

what grade would you give your firm on each of these?
read more →

partner buyout 101

scales, money and gavel6 ways to calculate buyout payments, 6 ways partners leave firms, how partner retirement plans have changed over the years and how to be sure yours isn’t a ponzi scheme.

by marc rosenberg
cpa firm retreats

a partner is retiring from your firm. how will you handle the financial aspects?

more: 27 tough questions every firm needs to address | make more money | system vs. system: partner compensation best practices | 10 benchmarking missteps | how to address partner compensation at a retreat | partner accountability: how and for what? | 18 essential management questions to cover at a retreat | how to decide who decides what | management styles: partnership vs. corporate | 30 marketing and growth questions to cover at a retreat | how marketing for cpa firms is different | why create a marketing plan? | thinking of merging? discuss it at a retreat | how to take action after a retreat | 12 simple rules for a retreat | leave your retreat with a to do list | every retreat needs a leader, but who? | retreats are no place for clowns | who should participate in a retreat? | retreat logistics: how long, what kind? | what should cpa firms discuss at retreats? | why do cpa firms conduct retreats?

there are six methods to calculate the buyout payments to a retiring partner. in brief, they are:
read more →

the 3 best partner compensation formulas

two hands honing a large knife4 common carve-outs, 9 challenges and 10 complications of all compensation systems.

by marc rosenberg
partner comp: art & science

compensation formulas are the most common system for allocating partner income.

more partner compensation for pro members (go pro here): why firms use partner comp formulas|3 subjective compensation systems | 11 points in designing a partner comp system | 3 tiers of compensation | partner compensation 101|what partners earn and how they earn it | partner compensation: an art, not a science | how partners view compensation: it’s not all about the money | why most partner comp systems are performance-based

now let’s look at some of the better formula systems we’ve seen:

read more →

27 tough questions every firm needs to address

eyeglasses resting on document labeled "retirement plan"on succession, retirement, valuation, sale or acquisition.

by marc rosenberg
cpa firm retreats

before formally beginning the discussion part of a retreat session, it’s always a good idea to begin by asking the participants what they want to cover.

more on retreats: make more money | system vs. system: partner compensation best practices | 10 benchmarking missteps | 18 essential management questions to cover at a retreat | management styles: partnership vs. corporate | why create a marketing plan?

as issues are suggested, the facilitator should write them down on a flipchart.

read more →

31 ways to make more money

businessman sitting on stacks of paper currencyyes, you can do these during busy season.

by marc rosenberg
cpa firm retreats

certainly when we consider best practices for transforming good firms into great ones, we have everything in mind from client surveys to strategic planning. but then what?

more on retreats for pro members: system vs. system: partner compensation best practices | partner accountability: how and for what? | 30 marketing and growth questions to cover at a retreat | leave your retreat with a to do list | every retreat needs a leader, but who? | retreats are no place for clowns 

here are 31 methods to achieve strong profitability:
read more →