Change is Necessary in a Time of Economic Turmoil

Source: Partner Insights

Change is Scary!

By August J. Aquila

August Aquila shares some practical things you can do to survive some of the changes your firm will be facing in 2009.

1. Know what you are trying to achieve as a firm and a partner group. Now is the time to take advantage of the economic turmoil and bring all issues to the table.
2. Get others involved. If you are the only one in the firm who is pushing for the change, you might as well forget about it.
3. Sell the idea one partner at a time.
4. Show others how the new environment compares to the existing one.
5. Don’t be an ostrich. While fear of the unknown becomes a big impediment to change, in today’s environment, you can’t let it happen at your firm.
6. Make changes. The customary advice was to make incremental changes. That may still be good advice, but don’t be afraid to make some drastic ones also.
7. Hold people accountable. Deal with the underperformers (see the article “Now is the Time to Deal with Underperformers” by Nathan Jamail).

For the complete article, click here.

August Aquila helps CPA firm leaders develop and implement succession, compensation, strategic and merger plans. Reach him at 952-930-1295 or [email protected].

From Partner Insights, Aquila Global Advisors, Minnetonka, MN, November 18, 2008, www.aquilaadvisors.com.