with more firms adopting a compensation committee system to sort out a partnership’s touchiest issues, marc rosenberg provides a 12-item checklist of best practices.
the list covers how to frame the committee’s mandate (“full reign”) to how its decisions should be treated (“no appeals. no approval needed.”). read more →
a sign of economic recovery and increased competition.
bringing in new business and finding top-notch staffers to handle anticipated growth are emerging as the new, most pressing challenges for cpa firms today.
with a rebounding economy, the aicpa says in its new pcps “top issues survey” that client retention, which had been a significant concern for firms in the 2009 survey, has been overtaken by a tilt toward growth issues.
“finding qualified staff” was a top issue from 1997 to 2007 for all but the smallest firms, but disappeared entirely from top 5 lists in 2009. now it’s back.
by august aquila
author of “leadership at its strongest”
and “how to engage partners in the firm’s future“
research shows that managing partners and marketing directors are still facing some major challenges when it comes to getting their firms to implement change. why?
here are four key issues firm leaders today face.
1. getting partners to buy in.
2. creating a firm vision that gets all partners on the same page.
3. helping develop a culture of accountability.
4. being asked to accomplish too many goals.
when the managing partner and the chief marketing officer work together they have a better chance of being successful in these areas. you may ask what do these four factors have to do with the marketing director? and i would answer – everything.
overcoming these four issues will make the firm more competitive, efficient and profitable. here’s how the best managing partners work with their marketing directors: read more →
start with a clean spreadsheet.
by sandi smith, cpa
accountant’s accelerator
there are dozens (and maybe hundreds) of ways your practice can leak money. here are three ideas that are fairly simple to implement and may be some great goals for you to consider.
more for soloists and small firms: new client opportunities with mobile apps / six questions to launch your strategy sessions / what most accountants miss in the five simple steps to get more clients / 10 ways to add a “money maker” hour to your day / 11 sources of wealth we can celebrate / nine value-adds to command a higher fee / how to design your business around your strengths / how to make it easy for clients to hire you / 12 fast, low-cost tips for a stress-less practice
the new practice management discipline.
by august aquila
author of leadership at its strongest
no profits, no mission, as one of my partners is fond of saying.
while leadership, balanced life, outstanding client service and efficient processes are critical for success, they mean nothing if the firm is not sufficiently profitable to make investments for the future and compensate performers. i want to focus on ten ways to make your practice more profitable.
these ten areas form the basis of a practice operational review. read more →