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
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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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five tough questions to ask about your firm’s leadership in these tough times.
by bill penczak
in times like these, firms should be challenging themselves with the tough question, “what do we want to be, today and into the future?”
more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
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if maintaining the status quo and “serving clients,” whatever that really means, are the only responses your partner and leadership teams can muster, then perhaps it’s time to evolve from being a lifestyle firm to being one with a vision and the guts to achieve it.
the 15th still means something.
as collected by robert e. mckenzie
covid-19 humor courtesy of clients and friends:
more: tax season funnies: making sense of tax forms | tax season funnies: the poetic versions | a rabbi’s advice | the next political party symbol | gabriel and saint peter confer | a tax lawyer at the pearly gates | gargoyles in the irs? | the ‘service’ in irs
i know we have until july 15 this year, but april 15 is still a reference point in tax humor:
“the u.s. tax code was written by “a” students. every april 15, we have to pay somebody who got an a in accounting to keep ourselves from being sent to jail.” – p.j. o’rourke
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don’t let inertia choose for you.
by bill reeb
inertia can be like drifting, which actually describes what many people do. what i mean is, many people just do more of what they did yesterday to keep afloat, or robotically attempt the next incremental step forward from where they are right now. it is as if they are treading water working hard throughout life and just letting the current take them wherever it is going.
more: do you have a goal or just a speed? | what are you giving priority? | 3 early warning signals for overachievers | learn more by letting go | don’t let others block your path | how overachievers can get ‘unstuck’
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see also: for a limited time only, free video courses from the succession institute to help firms prepare for the new normal: get all the details here.
the breakdown in this approach is that it presumes you are exactly where you want to be right now and that the current is going in the direction you want to go. overachievers often find themselves in this predicament: working hard treading water going with the current without a clear direction in mind.
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money, satisfaction, and growth – plus the secret ingredient.
by ed mendlowitz
call me before you do anything: the art of accounting
i believe that cpa firms do best when they hire people out of school and train them. however, today we’re not going to talk about training or who to hire, but how to retain who you have.
more: i am an accountant because of clients like stanley | underpaying others hurts you, too | my top 10 personal game changers | yes, christopher columbus had an accountant | 10 reasons for my success | when the kids don’t want to take over | staff may surprise you with leadership
when i had my practice with peter weitsen and frank boutillette, before we merged with withum, at some point each staff person’s first job was with us and we trained them our way. we had a substantial investment in them and losing anyone would cause great inconvenience and cost to us. we wanted to make sure we had the greatest chance of retaining them.
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