strategy

common leadership traps

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businessman writing on paperand how the author led his own firm.

by domenick j. esposito
8 steps to great

being a cpa firm leader requires you to “walk the talk,” make tough decisions and avoid common traps or errors that are attributable to a failure of providing persistent and consistent leadership.

more on strategic planning: leadership must be persistent and consistent | time running out for succession planning | the benefits of a client situation review | capital markets 101 | how to implement industry practice groups | 6 measures of partner performance | is your pyramid upside down?
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in addition to “walking the talk” personally, a ceo must drive action and change.
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keep a watchful eye on clients

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artistic kaleidoscope rendering of eyes and binary codethe cloud makes it possible.

by rob nixon

i love the way cloud technology is shaping the future of the accounting profession.

more on strategy: why clients really stay | communicate until it hurts | why a virtual team makes sense | 14 ways to leverage client data for new billings | what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i love it because for the first time in history you can see what is happening in your client base as it is happening. if the client is on a cloud accounting system as they are transacting every day, their software is automatically being updated with those transactions.
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leadership must be persistent and consistent

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two businesswomen on sidewalk in a big city8 questions to check whether you walk the walk, or just talk the talk.

by domenick j. esposito
8 steps to great

to me, all of the planning to become a mid-market sustainable brand becomes a reality through persistent and consistent leadership. in the end this, arguably, is the hardest part of the equation, as mistakes are very costly.

more on strategic planning: expand your national and global geographic reach | show clients how to improve working capital | do you belong in cybersecurity? | why you need marquee clients | net profits: how much to whom? | how to drive partner performance with a smart compensation plan | 3 tools to boost your metrics
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a leader in a cpa firm, be it the ceo, managing partner or a senior partner, is the quarterback. he or she is the one who has to set the tone at the top and has a very big impact on the firm’s culture, behavior and compensation of the other partners in the firm.
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why clients really stay

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young businesswoman smiling down at tablet in officefocus on retention should turn into referrals.

by rob nixon

most firms have a high retention rate per client. that means their clients stay clients of the firm for a long period of time. somehow the accounting profession has got most of their clients bluffed that it is hard to change accountants. it’s actually not.

more on strategy: people still needed, but in different ways | don’t let technology make you dumber | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
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partners will argue that clients remain with the firm because of the great relationship they have with their clients. i beg to differ. how can you have a great relationship with someone when you see them once or twice per year?
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time is running out for succession planning

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digital visualization of a blue alarm clockbonus: 22-point m&a due diligence kit.

by domenick j. esposito
8 steps to great

much has been written and discussed regarding succession planning at cpa firms driven by the vast number of founders, leaders, and rainmakers who are retiring at a record pace.

more on strategic planning: expand your national and global geographic reach | using a high-performance business framework | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior | cpa firm partner performance: different activities, different metrics | develop the partners you already have | how many partners do you need?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

key takeaways in this post:

  • mid-market sustainable brands generally combine practices as opposed to acquiring or buying practices.
  • spend time to make sure it feels right.
  • the easier part is getting the contract signed; the harder part is the integration of the two practices and to make sure 1 + 1 at least = 3.

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