Source: Accounting Today

Marc Rosenberg of The Rosenberg Associates in Wilmette, Illinois lists the best practices from the best firms he has worked with:

• Active networking and team selling.
• Focus on A clients and adding value to the services using multiple resources in the firm.
• Development of niches. Training programs emphasize niches.
• Too many small and mid-sized firms put quantity ahead of quality. The best firms concentrate on the better clients and are virtually obsessed by the desire to provide excellent service. It is one of the most important factors in promotions and compensation.
• The best firms also charge higher prices for fewer clients—a wise policy given the enduring staff shortages.
• The best firms have shared visions and core values, and permit no deviations from them.
• Work processes are standardized.
• There are multiple partnership relationships with key clients.
• Partners serve clients and develop staff. They are not involved with administration.
• The best firms understand that the only way to determine the degree of client and staff satisfaction is to conduct regular surveys.
• Partners are more valuable for their non-billable than their billable time. Leverage and billing rates are key.
• Partner evaluations and compensation are based on their contributions to the achievement of the strategic plan. 
• Partners who are not committed to the firm’s values and vision are asked to leave.
• The best firms fulfill all the needs of their clients.
• They elevate the importance of staff to the same level as clients.
• Partners are expected to help staff grow in skills, level of responsibility, and leadership position. Partner compensation is tied to it.
• They are devoted to the development of curricula based training that serves the individual as well as the firm.
• Partners are involved in transition of clients, not just to allow retirement, but to provide succession should the partner leave the firm for any other reason.
• Conflicts are brought into the open and resolved.
• Partners don’t have the choice of accepting anything but full accountability.
• All people in the firm set goals that are appropriate for their skill sets, but also consistent with the firm’s strategic plan.
• Partners are compensated on achievement of goals, not seniority, or ownership.
• They have the best technology to best serve clients and to attract high quality talent.
• They compare themselves to benchmarks both for past financial performance and current client service performance.

From Accounting Today, May 15, 2006, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004. For the complete article, click on the following link: http://www.webcpa.com/article.cfm?articleid=20191&;pg=acctoday.