why firm culture matters for partners

with insight from our exclusive expert council: dunn, pipe, grundy.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses from existing partners of accounting practices in a conversational style.

more: five ways to rally your firm to its culture | three questions about your competence | 10 can’t-skip steps for business development | attract clients, don’t chase them | success in business comes second | business won’t come to you
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

examples that really stood out on the realities of individual variances in firm culture are showcased below.

“our partners have articulate minds, and that’s what we want to be demonstrated by any new appointees.”
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bissett bullet: being best > being better > being different

today’s bissett bullet: why are our clients paying us to serve them? what do they receive from us that they can’t get elsewhere for a similar or better price?

by martin bissett

please don’t say service and partner-led attention. everyone says that. seriously, what do we deliver that our competitors do not? the secret sauce is not found in service lines or technology. it’s found in outcomes and impact.

there will always be a firm with a wider service offering, larger marketing budget, more resources and greater technology. so, let’s not try to compete on things many businesses don’t understand or care about.

today’s to-do:

your current clients, including those who have joined you recently, chose you and not the others. establish a consensus on why that is and you’ve found your differentiation.

see more bissett bullets here

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bissett bullet: 30 years’ experience or 1 year’s experience repeated 30 times?

today’s bissett bullet: ‘is your client paying for the time it takes you to carry out the work, or for the value that your years of experience bring?’

by martin bissett

accountants started the timesheet expectation, not the clients. which other major purchase do we make based on how long it took to produce, rather than the value that it provides to us?

you spent a great deal of time and money developing your skills and gaining experience, so, let’s charge for value delivered rather than how long the work takes.

today’s to-do:

price your next proposal based on what you’d want to charge for it rather than how long it takes to do. is there any difference in the figures?

see more bissett bullets here

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five ways to rally your firm to its culture

businesspeople chatting around a water coolermake it work for you.

by martin bissett
passport to partnership

cultural issues are dynamic, very broad and unique in each firm. as such it is a challenge to summarize them accurately and comprehensively.

more: three questions about your competence | competence is step one of seven | three things that rich accountants do | four reasons it’s hard to sell | eight questions to hold yourself accountable | win your first client: yourself
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

from our research, however, the wise choice for anyone wishing to get their passport to partnership appears to be to study

  • their firm’s existing culture,
  • that of its senior individuals and
  • that of those who have the ear of those senior individuals

to understand not only the route to partnership, but the terrain that they need to cross too.
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three questions about your competence

confident businesswoman looking straight at camerahow do others view your partnership readiness?

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style.

more: competence is step one of seven | when would-be partners aren’t candidates | make your expertise a new-client magnet | don’t think of it as selling | experts: what it takes to become partner | where is your next money coming from? | your website promises. do you deliver?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but two brief but succinct examples on the realities of how a firm assesses an individual’s “competence” for leadership are showcased really stood out:

  1. they need to explain technical data to me in a way that i know they understand.

  2. what kind of lifestyle does this person have outside of work? we’ll be looking at facebook, twitter, and google to find out.

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competence is step one of seven

what to do after the prerequisites.

by martin bissett
passport to partnership

staffers aspiring to be partners must learn the key characteristics of successful partners. they also must learn how to develop their own personal plans to achieve partnership. firms and staffers alike need a clear set of procedures, processes and milestones for turning top talent into the next generation of firm leadership.

more: when would-be partners aren’t candidates | 10 can’t-skip steps for business development | attract clients, don’t chase them | success in business comes second | business won’t come to you | forged in fire: the pains of leadership | a lesson in customer service and reputation | prioritize your prospects | good enough is not enough
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are seven critically important criteria by which partners assess partners-to-be. i call them:

the seven c’s

1. the first is competence. as a prerequisite, but only a prerequisite, accountants must master their technical abilities and qualifications, whether it be audit, tax or management accounting. whatever your area of specialty, as a staffer the partners expect you to be able to know at least as much as anyone else who may report to you.
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when would-be partners aren’t candidates

//www.g005e.com/2021/02/17/a-rose-by-any-other-name/what we’ve got here is failure to communicate.

by martin bissett
passport to partnership

have you ever wondered what the partners of your firm are looking for from you, beyond your technical abilities?

more: 10 can’t-skip steps for business development | three things that rich accountants do | four reasons it’s hard to sell | eight questions to hold yourself accountable | win your first client: yourself
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

for full disclosure, i am not an accountant, but i have spent decades working with accounting firms of all shapes and sizes in the united kingdom, the united states and europe.
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10 can’t-skip steps for business development

young black businessman looking at his reflectionbonus: 10 questions to check your comfort level.

by martin bissett
understanding selling

i’ve been asking you to believe in yourself, to get your potential clients to open up to you, and to demonstrate to them the outcomes that working with you and your firm would create in their personal and professional lives.

more: three things that rich accountants do | make your expertise a new-client magnet | don’t think of it as selling | experts: what it takes to become partner | where is your next money coming from? | your website promises. do you deliver? | five reasons firms don’t thrive | good enough is not enough
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

now here’s a checklist for you to run through before you begin your next business development initiative, and before each new business appointment that you have.
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three things that rich accountants do

businessman looking at calendar on tabletsoon they’ll become second nature.

by martin bissett
winning your first client

you may be thinking right now, “well, very good, martin, but we have finite time. we’re very, very busy people and we need to get business in the door, and therefore creation of opportunity becomes the issue.”

more: make your expertise a new-client magnet | attract clients, don’t chase them | success in business comes second | business won’t come to you | win your first client: yourself | perception is reality, client version | 10 questions for reconsidering your prices | would you make yourself a partner? | what the next generation of practice leaders faces
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

regardless of whether we’ve got 20 opportunities on our plate today or none, when the next one comes along we can’t afford to be anything other than confident, comfortable, assured relationship builders who have tremendous value to offer. because people will see that body language, those voice tones and hear those words and it will be attractive. they will want to get to know more – they’ll want to be able to look at options. they’ll want to know what you’ll charge, and they’ll want to know what they’ll get for what you charge.
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make your expertise a new-client magnet

we understand our value.

by martin bissett
winning your first client

it’s about time to realize that value is not about time.

more: attract clients, don’t chase them | four reasons it’s hard to sell | eight questions to hold yourself accountable | win your first client: yourself | perception is reality, client version | 10 questions for reconsidering your prices
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when i look back on the research that has been conducted by various groups as to the biggest obstacles accounting firms cite to growing their practice,

  • 50 percent said creating opportunities,
  • 25 percent said knowing how to close deals
  • and the remainder said having self-confidence in presenting and then being able to positively differentiate from their competition.

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attract clients, don’t chase them

focus on their needs, not yours.

by martin bissett
winning your first client

let’s start with two simple definitions to avoid any confusion:

  1. the purpose of marketing is to create the opportunity.
  2. the purpose of business development (sales) is to convert that opportunity into a paying client.

more: don’t think of it as selling | success in business comes second | business won’t come to you | forged in fire: the pains of leadership | a lesson in customer service and reputation | prioritize your prospects | good enough is not enough
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when we meet with prospective clients – and i say this as someone who has sat in on many hundreds of meetings of this nature – we rarely give potential clients a reason to buy from us that they care about.
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four reasons it’s hard to sell

businessman with head in handswhat to focus on instead.

by martin bissett
winning your first client

let’s take a look at the last 16 years of my experience and my research as to where new clients come from in an accounting practice. i don’t think there are going to be too many shocks here.

more: don’t think of it as selling | success in business comes second | business won’t come to you | forged in fire: the pains of leadership | a lesson in customer service and reputation | prioritize your prospects
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

what i’ve found is that 82 percent of all new clients in a given year who come into an accounting firm come in from a referral source. this may be a bank or a lawyer or some other source, perhaps an existing client, who has recommended that a particular business meet with your firm and come on board as a client.
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don’t think of it as selling

businessman holding two papers with happy and angry face each on themstart treating it like a service.

by martin bissett
winning your first client

being a successful person according to your own measurement of that, and your own goals and your own standards is different for everyone.

more: success in business comes second | eight questions to hold yourself accountable | win your first client: yourself | perception is reality, client version | 10 questions for reconsidering your prices | a list is not a pipeline
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you’re comfortable with yourself, it’s very likely that others will be too. if you understand the value that you offer (how you can improve a client’s situation to move them closer toward their personal and professional aspirations), you’re likely to be able to convey that value in front of a prospect.
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