today's features

eight ways managing partners make a real difference

friendly business team looking at tablet in office lobbywant to play at the peak of your game?

by august j. aquila
what makes a great partnership

so, what do the truly successful managing partners do that differentiates them from their peers? in this short post i will quickly summarize the results of my research, which entailed interviewing 150 practicing and managing partners in a cross-section of consulting, accounting and law firms across europe and the u.s., before focusing on the things great managing partners did to ensure they were always at the top of their game.

more: ten steps to a new managing partner | five ways to keep your edge as a leader | managing partner: the toughest job in the world | why partners need written goals | eight criteria for partnership | how you can get partners to change
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the model

this model of what successful managing partners do is adapted from the leadership model in “when professionals have to lead,” which rob lees co-authored with tom delong and jack gabarro. i have used the same overarching dimensions of direction, commitment, execution and personal example and added context to reflect its impact on what firm leaders need to do.
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how to set marketing objectives

three arrows in center of bull's-eyefirm and marketing plans must be intertwined.

by bruce marcus
professional services marketing 3.0

editor’s note: 卡塔尔世界杯常规比赛时间 was privileged to have a long relationship with bruce w. marcus, who was ahead of his time in his thinking and practice in marketing for accounting. we are publishing some of the late expert’s evergreen work, which retains wisdom for the present.

because a professional services marketing program must do more than accumulate clients, and because it must function in a dynamic world that’s constantly in flux, an effective marketing program can’t be a static list of activities that use a static list of marketing tools. it must have clear objectives that are flexible enough to accommodate the dynamic nature of the market. it must focus specific aspects of a practice, predicated on the distinctive needs of each aspect of the prospective clientele.

more: nine reasons that prospects say yes | why is change so hard for firms? | why value pricing works | why competition matters most
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for example, a marketing program to attract high-asset individuals is different from one to attract corporations. a program to attract real estate developers is different than one to attract builders.
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solar sensors detect wildfires early, saving lives, money

high school science project spurs the creation of outdoor detectors. back of smoke detector

by rick richardson
technology this week

one of the best pieces of innovative home hardware is the nest protect.

more than other household items, smoke detectors might benefit from being connected. they significantly contribute to your feeling of security while you’re away from home. ideally, you won’t need it, but it might save lives if you do.

more: the cheapest clean energy might be lunar | only 19% of firms host email | 52% of firms look outside for it support | firms battle disruptions in communications and workflows | pandemic changed work for 64% | pandemic? what pandemic? | m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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torch, established in 2020, is implementing some of these concepts in a new environment. the $299 device provides early outdoor detection for up to 10 acres, which is fixed onto a spike put into a tree. it’s a sizable addressable market that, regrettably, will expand even further in the years to come as wildfire threats rise.

my school closed down for a week because there was so much smoke. it was a horrible situation. people lost billions of dollars in damage

climate change is to blame for this situation since it causes droughts and hotter temperatures, ideal conditions for destructive fires, especially in the western united states. as recently highlighted by nasa:

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accounting profession to experience highest ai impact

a new research report hints at future opportunities for accountants.

by hitendra patil
client accounting services: the definitive success guide

openai, the creator of the wildly popular artificial intelligence (ai) tool chatgpt, conducted a new research study with the university of pennsylvania. it identified the occupations with the most significant impact potential because of large language models (llms, like chatgpt). among the occupations with the highest exposure to ai are accountants, auditors and tax preparers!

more: be serious about ai, not amused
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what does it mean?

1. to quote some (edited somewhat for more straightforward reading) of the essential notes from the research:

  • which occupations will see gpt-powered software saving workers a significant amount of time completing a task while maintaining equivalent quality? workers facing higher (lower) barriers to entry in their jobs tend to experience more (less) exposure to llms. (gpt = generative pre-trained transformer.)

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clientele and revenues rising, but …

… is expansion cutting into profits?

by 卡塔尔世界杯常规比赛时间 research

client rosters, revenue and profits all seem to be rising, according to the 卡塔尔世界杯常规比赛时间 busy season barometer – and rising more than expected.

more: should tax preparers be certified competent? | have no fear, april is here | survey: busy season looking good | on business outlook, cpas are confident … and concerned | tax pros offer advice for small businesses | busy season barometer finds many cpas in transition | more cpas see worsening economy | has early tax season optimism peaked?
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most impressive, and curious, is the radical rise in numbers of clients. for 22 percent of respondents, clientele has expanded by more than 10 percent. another 43 percent have seen increases of 5 to 10 percent. only 13 percent have seen any significant decrease.
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