CPA Leadership Journal
I have read a lot of John Maxwell's books over the years and have enjoyed using his motivational quotations. This month I want to share with you Maxwell’s Seven Steps to Success, along with my own comments. Make a commitment to grow daily. – Do you…
Accountants are smart people. The thing I find curious is how they invest their time. If time is money, and I don’t think it is—time is your life—then why aren’t accountants better stewards of their time? Why don’t accountants invest their time like…
For years, decades even, accountants have talked about specialization. Building a niche practice has been the subject of articles, conference agendas, podcasts, and discussion among practitioners since what seems like forever. But the discussion is…
[FREE RESOURCE BELOW] Are you working too much and earning too little? Many CPA professionals have maxed out their time and are still not generating the income they need or deserve. If this is you, take heart—increasing your income is possible. Start…
You got in a conference room to do strategic planning, got excited about big ideas, and designed things that sounded really good on paper. Now is the hard part: implementation. Without follow through after the planning event, strategic planning is…
You are a CPA and a partner in a public accounting firm. In your mind, you have one important duty, to serve clients efficiently, effectively, and profitably. Yes, you do serve clients. However, there are other very important roles for you at your…
Firms use compensation as a standard reward for performance in areas such as meeting billable hours expectations, performing at a high technical level, delivering exceptional client service, taking on additional training or leadership duties, or…
There are many essential factors in planning an annual partner meeting, including selecting the appropriate discussion topics, and developing a relevant and strategic agenda. What made your firm successful in the past may not be the same formula that…
Creating a development plan is intimidating as a business owner. In business, there is always the next step owners have in the back of their minds. Whether it’s a new operations strategy, doubling profits, improving leadership skills, or new service…
Within most CPA partner groups, there are usually a few troubling issues. In some firms, there are definitely more than a few. I have heard about these issues firsthand as I network with partners from various firms. I also uncover many of these…
As an accountant, one of the most effective ways to attract target clients is through referrals. When someone is referred to you by a trusted source, they are more likely to become a client because they already have a level of trust and credibility…
Is your firm ready for the future? Admitting new partners from within is one way to move your firm toward long-term health and viability. Prepare your firm for the path ahead by assessing your current bench and identifying obstacles your firm could…
When CPA firms are adopting a new growth model, it is important to eliminate low realization clients, establish client profitability guidelines, and focus the firm’s marketing initiatives and activities on high-quality targeted clients. As a first…
Tax season is upon us! Keep in mind that many CPA firms will make the bulk of their earnings during the busiest seasons, now and the fall. With all the hard work that goes into servicing clients, it is important to achieve the right financial…
Is your CPA firm’s ownership agreement well-suited to partner succession and the admission of new partners? A bad owner agreement can be an obstacle to healthy internal succession. It pays to know your ownership agreement options and carefully choose…
