leadership

management philosophy of a cpa firm

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what many firms get backwards.

by marc rosenberg, cpa
author of “cpa firm management and governance.”

i have used the flowchart you see here for nearly 20 years and it has not lost one iota of relevance in demonstrating how to effectively manage a cpa firm. its message is simple yet powerful.

most firms make the mistake of managing from the bottom of the chart, and try to work their way up. the firm is primarily managed by:

  • appointing a managing partner who usually is the guy with the biggest book of business but often is a lousy manager.
  • allocating income based on an “eat what you kill” mentality. the partners reason that altering the size of one’s paycheck is the best way to provide feedback to a partner which will, in turn, lead to improved performance.

there are many flaws to this management approach, a couple of which are: read more →

five ways for partners to lead by example this busy season

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dustin hostetler

this busy season will test new processes – and a firm’s leadership. [how are accountants feeling about about busy season? join the survey; get the answers.]

by dustin hostetler
flowtivity

as many firms get ready to implement and leverage new and improved processes as busy season ramps up, i thought it’d be worth considering a few pointers for the partner leadership group to keep in mind over the next several months.

related: the coming storm in staff turnover (video)  | three strategies to improve buy-in for change

and i should probably add a disclaimer to take the accounting hats off for a minute and realize this isn’t an exhaustive list nor is it literal in every example.  there are always going to be exceptions, but the more you can abide by the following ideas the better off your firms will be and you’ll be providing better client service as well. read more →

take a cue from venture capitalists: your firm needs a brain trust trinity

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how to give your firm the three distinct personality traits that spell outrageous success.

by sandi smith, cpa
accountant’s accelerator

i was reading chip conley’s book, the rebel rules: daring to be yourself in business. despite its title, the book doles out fairly standard business advice, except for a handful of tiny tidbits of sheer brilliance. one is the list of items that investors are looking for when considering providing startup money to new businesses.

sandi smith

more for soloists and small firms:   accountants, do you know your opportunity number?  •   five ideas to reduce client price-sensitivity • rise to the top with a fresh elevator speech  •  four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • 

even if you’re never going to seek venture capital money to help to fund your practice, chip’s advice makes a great question to consider for your firm, especially if yours is a small or sole-owned firm. read more →

the “aha moment” in cpa firm leadership

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are you leading, or merely managing or administering?

by marc rosenberg, cpa
author of “cpa firm management and governance”  

when attending conferences, we love “aha” moments.  those are moments when a speaker says something so profound that it causes a sudden understanding of a major issue and captures our imagination.  we can’t wait to get back to the office, share it with our partners and start implementing the idea.

more on cpa firm management and leadership:   leadership is overrated: it’s good management that makes successful firms •  40 great ways to improve firm profitability  •  four management metrics that fool even the best-run firms  •  19 ways to improve accounting firm profitability • de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • the first nine questions your partner team needs to embrace for optimal profitability • profitability and the value of strategic thinking • the five essential building blocks for creating a strong accounting firm • the seven signs of great leadership in a cpa firm • compensation issues for the new managing partner •

marc rosenberg
marc rosenberg

i had an “aha” moment not so long ago.  the speaker was bob bunting, long time managing partner of regional firm  moss adams, a leader in our profession par excellence.   he delivered a very simple but powerful statement that described a value system at moss adams:

  • leadership is worth more than your billing rate.
  • management is worth your billing rate.
  • administration is worth less than your billing rate.

my take on this is: read more →

seven ways to build the right culture

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and five ways how not to implement a system of partner accountability.

august j. aquila

august aquila, a veteran practice management consultant, works globally with accounting firms on leadership and management issues. if you’re thinking about the quality of leadership at your firm, think on this.

five wrong ways to make partners more accountable:

  1. let’s make it into a checklist. one thing you can count on – accountants love checklists. it seems that a checklist is the answer to all our problems. read more →