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.
^click to play: aquila addresses covid crisis response strategies.
eight new trends you can’t ignore in the new normal.
by august aquila
every day we get a clearer picture of what the future holds for the accounting profession, business in general and the overall population. while the future may look daunting, we will do our best to make the most of it and come out stronger. it’s what we have always done.
more: 6 action steps for a smooth retirement transition | 7 succession planning best practices | grissom and aquila on partner performance evaluations | gross profit in a professional services firm: opening a dialogue | checklist: 18 essential steps to effective billing | how to get partners to accept a new pricing philosophy
nevertheless, don’t plan on the old ways coming back. i just read that more than 60,000 accountants have already lost their jobs. perhaps, the war for talent will be over. there will be further reductions in the professional service workforce and firms will be able to pick and choose from the talent pool.
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how do people respond when a goal isn’t met?
by steven e. sacks
if you created a leadership team around you that exhibits the healthfulness of organizational conflict, constructive advice, scenario planning and the flexibility of employing plans b, c and d, you have created a strong foundation – a far different and more effective approach than the “my way or the highway” thinking. you need to think about what the challenges are to your leadership and the long-term viability of the firm.
more: are executive performance reviews dangerous? | trust is a key organizational ingredient | real influence vs. immediate gratification | fake it ‘til you make it: an ultimate goal? | 4 ways to boost job satisfaction
the avoidance of conflict has morphed into a misguided sense of consensus building. standing up to philosophical differences with the purest of intentions is a positive; it is not destructive in nature.
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join jean caragher of capstone marketing on tuesday, may 12, at 2 pm et.