strategy

managing the managing partner

by

businessman standing at conference table with 4 colleagues seated behindchecks and balances are key.

by bill reeb and dominic cingoranelli

as past success and personal development continuously demonstrate, organizations operate more effectively when people are managed. and since partners are people, rather than gods or superheroes, it makes sense that we put something in place to manage them as well.

more on performance management: accountability is for everyone | succession plan requirements | base retirement on today’s operations | how involved should retired owners be? | firms say what would change retirement pay | 4 ways to create more capacity | 7 succession questions to ignore for now | how partner ratings factor into equity | hazards of not reallocating equity | 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership? |  job 1 for the practice owner: client management

with this general background in mind, let’s dive a little deeper into how a managing partner goal-setting process might work.
read more →

8 questions to analyze your pricing

by

number 8 in gold

building a growth-centric pricing strategy requires analyzing 3 factors.

which pricing schemes are working best today?
join the survey; get the results.

by august aquila
creating the effective partnership

think of any services, professional or commercial, that you have purchased over the last few years.

more on leadership for pro members: what makes a successful strategic plan? | back to basics: 25 ways to grow your practice |3 ways to halt a poor leader | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | partnership is about persuasion

would you pay a premium rate to a bonsai gardener just to trim a regular tree or shrub? most likely not, since there would be many a gardener available to do this simple task. however, the price of an open heart surgery would not matter, if the operation would save your life.
read more →

taking a balanced scorecard to your partners

by

working day in office.without commitment, strategic planning is a waste of time.

by domenick j. esposito
8 steps to great

when an initial draft of the strategic plan has been agreed to by your initial strategy think tank, the next step requires you to expand the process to all the partners. this can be a very painful process, but it is a healthy one that must take place. it creates buy-in and will clarify who is on the bus and who isn’t.

more on strategic planning: 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’

lots of good things happen in this phase of the strategic plan.  a number of your partners, who may be questioning if this firm is the firm that they want to be part of as they build their careers, will begin to see that your merely good firm is trying to transform itself into a mid-market sustainable brand.
read more →

how to decide who decides pay

by

woman on building roof spraying out dollars with a garden hosewhere to draw the line between managing partner and compensation committee.

by bill reeb and dominic cingoranelli

everyone likes the idea that “i” will hold “me” accountable. but few like the idea of “anyone else” holding “them” accountable.

more on performance management: accountability requires clear expectations | base retirement on today’s operations | who decides what? | how retired partners are robbing their own firms | best practices for mandatory retirement | how retirement issues affect succession planning | succession: the questions to care about | how to target what skills to develop now | what having your employees’ backs means | 5 harmful management attitudes (and how to fix them) | do cpa firms need management or leadership? |  job 1 for the practice owner: client management

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

so, once the decision has been made to implement systemic changes to hold partners accountable to specific performance expectations rather than just relying on everyone to put in a self-proclaimed “good day’s work,” the next battleground is determining who will be holding whom accountable. the discussion always shifts to “let’s have a group of people, like a compensation committee, hold us accountable.”
read more →

what makes a successful strategic plan?

by

cute furry monsterfacing the monster issues.

by august aquila
creating the effective partnership

during the next several months, firms will be meeting to develop a strategic plan for the coming year or two. it’s a summer ritual for many firms.

more for pro members: 24 points for after the deal is done | innovate or die | 3 ways to halt a poor leader | partners love, hate leadership | 8 questions that staff ask in a merger | the 4 best ways to use your senior partners | 11 steps to building a better partnership team

however, the plans that are usually developed don’t address the real issues that firms are facing.

a client recently asked me, “what can we do to develop an effective strategic plan?” i’m not sure if he liked the answer or not. i am still waiting to hear if my proposal was accepted. let me share with you what i said to him.

read more →