here’s what you’re looking for: marc rosenberg

making partner doesn’t mean it’s time to kick back.

by marc rosenberg
the rosenberg practice management library

partner accountability addresses what is expected of each partner, how partners will be managed so that expectations are met and what the consequences will be for failure to meet these expectations.

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we have interviewed hundreds of partners on partner accountability. we frequently ask them if they would like the firm to have partner accountability. a response we often get is a derivation of: “yes, i’m all for partner accountability (long pause …) as long as it doesn’t affect me!”

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plus 15 aspects of teamwork.

by marc rosenberg
the rosenberg practice management library

“average players want to be left alone. good players want to be coached. great players want to be told the truth.” – doc rivers, nba basketball coach

“you can’t put in what god left out.” – terri mathes, former english professor at depaul university

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a common agenda item at partner retreats is the clarification of what it means to be a partner in the firm. i’m sure i’ve covered this a hundred or more times in one form or another. based on my work with firms, i am constantly revising and updating the material that follows.
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no one said it would be easy.

by marc rosenberg
the rosenberg practice management library

when firms call us for help on their partner agreement, we immediately ask: “do you want help with your entire partner agreement or just the retirement/buyout part?” many firms hesitate because they had only one part in mind.

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we have written an entire book devoted to cpa firm retirement/buyout plans. if you are interested in a comprehensive resource on crafting a proper retirement plan that adopts cpa firm industry best practices, visit the 卡塔尔世界杯常规比赛时间 shop to purchase “cpa firm retirement/buyout plans.”
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twelve best practices for compensation committees.

by marc rosenberg
the rosenberg practice management library

“if you like a person, you say, ‘let’s go into business together.’ humans are a social animal after all, but such partnerships are fraught with danger.” – brian tracy

buying a family home is one of the the biggest investments most people make in their lives. and because most of us are not real estate experts, we protect ourselves by engaging an attorney to ensure that the purchase is handled correctly. we don’t hesitate for a moment to invest a nominal amount of attorney fees to hire an expert.

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protecting your business

being a partner in a cpa firm should be no different. think about it. based on data from a recent rosenberg map survey, here is a rough idea of the value of a partner’s ownership in a $10 million firm:
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bonus: a voting decision grid.

by marc rosenberg
the rosenberg practice management library

“the force can have a strong influence on the weak-minded.” – obi-wan kenobi

there are a number of alternative approaches that firms use to make decisions.

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1. decision-making authority of the managing partner or executive committee (ec) granted by the partnership. the gold standard for the effective management of any organization is to establish a leader (president, executive director, managing partner, etc.) and bestow the position with sufficient decision-making authority, as contained in the organization’s operating charter or agreement, to manage the entity. this is the best practice for cpa firms’ decision-making.
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why it works … and how it can fail.

by marc rosenberg
the rosenberg practice management library

“it is rare to find a partner who is selfless. if you are lucky, it happens once in a lifetime.” – michael eisner, former ceo of disney

“the best thing a human being can do is to help another human being know more.” – charlie munger, former vice chair of berkshire hathaway

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the use of the non-equity partner position (some call it an income partner) has been on the rise at cpa firms for 20 years or so, as the data here, from a rosenberg map survey, show:
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what firms of all sizes are doing.

by marc rosenberg
the rosenberg practice management library

“you are not required to complete the work of perfecting the world, but you are not exempt from contributing to it.” – rabbi tarfon (70 ce-135 ce)

when we started writing this post, we intended to include several traditional organization charts depicting how firms are structured at various sizes. but as we thought about it, we realized this may be a worthless exercise because (a) there are far too many different structures to list, and (b) the structures adopted by firms vary widely depending on the management philosophy of the firm’s partners.

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firms often operate for years without much structure, enjoying happiness and profitability. then, with the blink of an eye, the firm “hits the wall.” growth slows or stops. staff turn over. systems become inefficient and out of date. profits stagnate. when firms hit the wall varies widely, but it often is between $5 million and $15 million.
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how many people? what do they do? and more.

by marc rosenberg
the rosenberg practice management library

“a group of the unprepared, appointed by the unwilling to do the unnecessary.” – fred allen

when firms are small or newly formed, the firm’s management philosophy is characterized by some or all of the following:

1. “we all have a vote, and we make decisions as a group.”

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2. partners share profits and duties. “if we all pitch in and take responsibility for a certain area of the firm (admin, staff, quality control, marketing, etc.), our firm will be well managed, and we can save the cost of a firm administrator.”

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