strategy

merging for all the wrong reasons

by

jigsaw puzzle with pieces missing and word "incomplete" in gapfirst: get your house in order; don’t expect someone else to do it for you.

by bill reeb and dominic cingoranelli

for at least the past 10 years, the merger market among cpa firms has been pretty active. while the market volume has waxed and waned a little several times during this period, mergers have been a topic in almost every strategic planning retreat we have facilitated.

more on performance management: how to compensate your managing partner | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly | managing the managing partner | pay varies when performance varies | accountability is for everyone | who decides what?

 

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

read more →

is hr ready for your partner pipeline?

by

the head hunter and human resources workforceincludes implications during transition, structure for the future and critical success factors.

by domenick j. esposito
8 steps to great

“if you pick the right people and give them the opportunity to spread their wings – and put compensation as a carrier behind it – you don’t have to manage them… this whole game of business revolves around one thing: you build the best team, you win.”

– jack welch
former ceo of general electric

now that you are equipped with a strategic plan that is realistic and focused on implementation and accountability, and you have a sound governance and economic model, let’s chat about what else it takes to build a mid-market sustainable brand.

more on strategic planning: 3 tools to boost your metrics | how many partners do you need? | how to develop tactics for your strategic plan | the big eight: harsh realities for firms today

it begins by recognizing that all partners are not created equal. you need a combination of
read more →

paying the managing partner: today’s trends and best practices

by

businesswoman holding giant dollar symbolhow firms are balancing base salaries against billable hours.

by bill reeb and dominic cingoranelli

the managing partner should have a compensation plan unique to that position focused on carrying out the strategic and tactical objectives of the firm.

more on performance management: how to elect a managing partner … and how to fire them | why accountability falls to managing partners | how to implement strategy, step by step | how to decide who decides pay | accountability includes partners | succession plan requirements | how retired partners are robbing their own firms | 4 ways to create more capacity | partner retirement and the war for clients | succession: the questions to care about | hazards of not reallocating equity

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

while there can be some individual performance goals assessed, the bulk of the managing partner’s incentive package and focus should be on overall firm performance. the key here is that you don’t want an incentive system for the managing partner that is overly focused on individual goals because the real value of this position is in driving firmwide change.
read more →

3 tools to boost your metrics

by

overhead view of several people working on an oversized spreadsheetonce again, accountability is key.

by domenick j. esposito
8 steps to great

in my experience, making sure that your economic model becomes reality only happens with persistent and consistent accountability.

more on strategic planning: how many partners do you need? | is your pyramid upside down? | start with sound firm governance, economics | how to develop tactics for your strategic plan | taking a balanced scorecard to your partners | as tax season ends, strategic planning seasons begins | the big eight: harsh realities for firms today | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’

to achieve accountability, i recommend three management tools that will help you create focus and improve performance:

read more →

managing partners: how to elect them… and fire them

by

midsection of businessman moving out with cardboard box from officeand why a five-year term is ideal.

by bill reeb and dominic cingoranelli

often, firms elect a managing partner with a majority vote, but to dismiss a managing partner within their elected term requires a higher vote, commonly two-thirds of the equity vote. in some larger firms, the people running for managing partner might not be eligible to vote in this process, but in many others, everyone can vote.

more on performance management: the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality | make accountability a process | accountability requires clear expectations | base retirement on today’s operations | how involved should retired owners be? | how to find a partner’s replacement

the reason why everyone should be allowed to vote is simply that the smaller the firm, the more likely that removing the candidates being considered for the position puts too much control in the minority ownership of the firm. for example, consider the following six-partner firm scenario:
read more →