September 2009 Leadership Forum

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Vol. 1 No. 9, September 2009

The Leadership Forum is a panel of the most prominent thought leaders in the profession. Each month we ask them to respond to a question dealing with CPA firm management and leadership.

This month's question is: In what areas should CPA firms currently be investing their resources?

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Consultants and Other Prominent Observers

August J. Aquila	Aquila Global Advisors	www.aquilaadvisors.com aaquila@aquilaadvisors.com
In today's market, firms should continue to invest in value added services and develop joint ventures with other business advisors. More

Ron Baker	VeraSage Institute	www.versage.com ron@verasage.com
Despite the press reports, and state of the economy, I still think talent is the greatest challenge facing firms in the future. Human Capital is the source of 75% of any firm's wealth-creating capacity… More

Larry Bildstein	The Whetstone Group	www.thewhetstonegroup.com larry@thewhetstonegroup.com
Assuming “resources” means both time and money, perhaps the wisest course of action in a down economy is to invest in client satisfaction. More

L. Gary Boomer	Boomer Consulting, Inc.	www.boomer.com gary.boomer@boomer.com
Training and Learning. The return is huge (5 to 1 according to Gartner) and a training and learning culture is key to retention and attraction of quality people. It is also a key component of succession and development of management and leadership skills. More

Jean Caragher	Capstone Marketing	http://capstonemarketing.com jcaragher@capstonemarketing.com
... CPA firms should be investing in marketing and client retention.More

Gale Crosley	Crosley + Company	www.crosleycompany.com gcrosley@crosleycompany.com
Learning how to grow, leadership development, and efficient processes - especially in audit, tax and accounting services. More

Rex Gatto	Gatto Associates, LLC	www.rexgatto.com rex@rexgatto.com
The greatest investments that CPA Firms have are in people. More

Angie Grissom	The Rainmaker Consulting Group	www.therainmakeracademy.com angie@therainmakeracademy.com
CPA firms should invest their resources in best serving their clients and retaining them… More

Bob Lewis	Visionary Marketing	www.thinkvisionary.com blewis@thinkvisionary.com
Nurture marketing. They need to be building databases and aiming messages into two types of prospects. More

Rich Rinehart	Grant Partners, LLC	www.grantptrs.com rrinehart@grantptrs.com
Firms should be investing their resources in training and developing future leaders. More

Marc Rosenberg	The Rosenberg Associates	www.rosenbergassoc.com marc@rosenbergassoc.com
Now, with the recession on, business down and staff in decent (not great) supply, firms can now focus on areas that they have neglected. Examples: 1. Succession planning - what should the firm do to position itself to continue when their baby boomer partners retire? 2. Leadership development -… More

Joel Sinkin	Accounting Transition Advisors	www.transitionadvisors.com jsinkin@transitionadvisors.com
Marketing: with the economy potentially causing attrition factors, keeping a strong eye toward marketing and growth is more critical now than ever before. More

Rick Solomon	RAN ONE	www.ranone.com rick.solomon@ranone.com
CPA firms should be investing in the professional growth and development of their team. More

Joseph Tarasco	Accountants Advisory Group	www.accountantsadvisory.com joe@accountantsadvisory.com
This is the first time in over a decade that CPA firms are in a good position to upgrade and add talented professionals. Take advantage of the marketplace and build a world- class staff. More

Rick Telberg	CPA Trendlines	http://cpatrendlines.com http://cpatrendlines.com
For many firms, it's already too late and consolidation is inevitable. But for many others, this is the best time in memory to build your business and take control of your future. More

Troy Waugh	FiveStar3, LLC	www.waughco.com twaugh@waughco.com
George Bacon said "Fortunes are not made in boom times…that is merely the collection period. More

Sandra Wiley	Boomer Consulting, Inc.	www.boomer.com Sandra.Wiley@boomer.com
In the area of Human Resources - training, accountability and processes are king. More

Firm Leaders

Antonio Argiz (Tony)	Morrison, Brown, Argiz & Farra, LLP	http://www.mbafcpa.com
CPA firms should invest resources to increase market share by lateral hiring of partners and… More

Harvey Goldstein	SingerLewak LLP	http://www.singerlewak.com
Using the internet to provide services. For example regular meetings, reviewing financials, cash flow planning services, etc… More

John C. Malone	Malone & Bailey, PC	http://www.malone-bailey.com/
In this order: 1. Client service 2. Marketing 2. Leadership development 3. Staff training 4. Service efficiencies. More

Danny Powell	Powell, Ebert & Smolik	http://www.austincpa.com/
There is really only one thing that matters: your people. More

Anonymous
Systematizing the practice growth efforts and marketing strategically.

Anonymous
Financial services and upgrading staff technology.