*Can Your Firm Pass the Strategic Planning Test?

Source: The Marc Rosenberg Blog

The following includes excerpts, reproduced with permission, from a blog entry by Marc Rosenberg.

I decline strategic planning projects more than all others combined. Despite the best intentions, many CPA firms fail at strategic planning, especially those under $10M in revenue. I don't want firms to pay me good money and not get anything to show for it. 

When firms call me about working with them on strategic planning, I ask them 10 questions. Even one “no” is a prophecy of failure.

Here are the first five: 

1. Do you believe in your heart that strategic planning will make money for your firm? Or do you simply feel that “it would be great if we achieved our vision, but if we don't, we don't.” If the latter, you'll probably be unhappy with your results. 

2. Are the partners on the same page? Are the partners a cohesive group that communicates reasonably well and agrees on a common vision for the firm? If not, the firm's energy will be channeled to dealing with conflicts and the partners' unwillingness to be team players.

3. Does the firm have a champion for the plan? Someone who is passionate about the plan, who will follow up with people to get their strategic planning goals accomplished. 

4. Are there consequences when someone fails to achieve a goal? If no one is held accountable for achieving strategic planning goals – if partner compensation is unaffected – then strategic planning goals will most likely flounder.

5. Can the naysayers be silenced? Many firms have a partner or two that always seem negative. For strategic planning to succeed, the firm must make it clear that it will not tolerate negativity towards the plan.

We'll be sharing the other five questions in the coming weeks.

For the complete entry, read “Is Your Firm Ready for Strategic Planning? Take this Test.” 

From The Marc Rosenberg Blog, February 18, 2014, http://blog.rosenbergassoc.com.