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As the saying goes: “it’s lonely at the top.” Nowhere is this truer that for the managing partner of a regional accounting & advisory firm. Surrounded by talented partners who have a personal stake in every decision made, the managing partner needs a place to get objective help, understand the competitive landscape and show his…
Every CPA firm has a signature strength that provides a competitive advantage and can be leveraged for growth. Often, when we ask partners to identify that strength, they are not aware of it. Let’s look at a few examples of “hidden” signature strengths. One firm’s partners pointed to the real estate practice as the firm’s…
We used to think that copying others or repeating the same actions because they are institutionally easy or have worked in the past was very non-strategic behavior. Experience has shown us that in some cases it may be the most strategic behavior for particulars firm when it comes to expanding geographically and expanding specialties. How…
Measuring productivity at accounting and advisory firms is different from doing so for other industries. This concept was brought home to me recently in a conversation with a former colleague who is now working for a large industrial company. His organization had just announced a downsizing which led him to quip: “We’re just going to…
This is the fifth in a series of blogs on the subject of accounting firms and their operating models: Centralized Model – Locally Integrated Model – Regionally Integrated Model – Nationally Integrated Model – Federated Model The Federated Model: Firms that take this approach establish federated relationships with other firms in different major US cities, typically…
This is the fourth in of a series of blogs on the subject of accounting firms and their operating models: Centralized Model – Locally Integrated Model – Regionally Integrated Model – Nationally Integrated Model – Federated Model The Nationally Integrated Model: Firms that take this approach establish offices in major cities in each region of…
About once a month, we get a similar comment from clients: “one of our partner candidates is lacking in emotional intelligence, are you available to coach him on this issue over the next six months?” It’s amazing how prevalent this issue is today. To us, it’s a siren call for teaching emotional intelligence much earlier,…
This is the third in of a series of blogs on the subject of accounting firms and their operating models: Centralized Model , Locally Integrated Model, Regionally Integrated Model, Nationally Integrated Model, Federated Model The Regionally Integrated Model: Firms that take this approach establish offices in major cities in a given geographic area. A good example…
An excerpt from Accounting Today’s article by Richard Stanger and Carolyn Carlson, Winning the War for Talent. It’s a win-win for both your firm and candidates: firms that offer summer internships get to lock up great candidates early and the candidates can secure a permanent job before their senior year. That’s why the best approach…
An excerpt from Accounting Today’s article by Richard Stanger and Carolyn Carlson, Winning the War for Talent. Great firms acquire and develop talent from the bottom up, starting with entry-level hires. There are three keys to successful campus recruiting: Get your partners involved, beginning with campus interviews. Nothing gets the attention of candidates more than…