Nine Success Factors for Accounting Firms

Source: Partner’s Report

In a speech at the Advisory Board conference, David Maister presented nine features that predict success for CPA firms. These are part of his book Practice What You Preach. The features are:

• The overriding concern of the firm is client satisfaction.
• Personal gratification of partners and staff is secondary to the needs of the firm.
• Those who create the biggest impact on the firm’s success are paid the most.
• Management’s goal is to get people to do their best.
• Development of new skills is obligatory.
• Everyone spends significant time on activities that pay off in the future.
• Everyone treats everyone respectfully.
• Supervision on client engagements is first class.
• Quality of personnel is not compromised for quantity.

Practice What You Preach is available by clicking here.

From Partner’s Report—the Monthly Update for CPA Firm Owners, March 2007, p. 1. For subscription information contact Institute of Management & Administration, Inc., 3 Park Avenue, 30th Floor, New York, NY 10016-5902. One-year subscription $399. 212-244-0360, [email protected].