A Challenge to Be Forward-Thinking

Source: Solutions for CPA Firm Leaders

The following includes excerpts, reproduced with permission, from a blog post by Rita Keller.

I'm sure you have noticed that I write about change all the time. I'm not going to stop. That's because I want CPA firm leaders to embrace it and thrive.

I was reading a tweet by Jody Padar (@jodypadarcpa) that led me to an editorial in Crain's Chicago Business stating Chicago's businesses must progress or perish. Pretty strong words but they can be applied to thousands of CPA firms these days.

Here are some phrases from the article that I have modified to fit CPA firms. I hope they get your attention:

• Nothing is more difficult for a successful firm than facing the fact that a proven strategy has become obsolete.
• What were once strengths became weaknesses as new technologies and shifting client preferences upended the profession.
• Competing firms are outflanking many firms with new business models that capitalize on the rapid change CPAs are experiencing.
• Don't allow sentiments to blind you to reality.
• Reinventing your firm is painful, expensive and scary. The only thing worse is watching new competitors run away with your market.
• Those who take advantage of change almost always beat those who don't.

These are some strong statements that should generate some serious thought. As I continually stress, gather your leadership group (it contains enormous brain power) and talk about the future of your firm. How can you embrace change and thrive?

The power of your firm is dependent on the quality of your people. If you don't keep pace with change, talented young professionals with huge potential will go elsewhere.

For the complete post, read “Progress or Perish.”

From Solutions for CPA Firm Leaders, the blog of Rita Keller, president of Keller Advisors, LLC, [email protected]. Visit http://ritakeller.com/blog/.