Transforming Plans Into Actions

Source: RedZone, Play of the Month

The following includes excerpts, reproduced with permission, from an article contributed by Accountants Advisory Group.

Many CPA firms fail to implement their strategies and business plans or do so in a painfully slow manner. This is by far the number one obstacle to success and an issue that is fueling the volume of mergers taking place across the nation. To overcome this obstacle, firms should:

• Assign partners specific action items together with start dates and completion dates, and make sure partners are accountable. Too many firms reward partners for short-term accomplishments that take a back seat to more important long-term objectives.
• Have the managing partner or executive committee review and assess short- and long-term strategic action items monthly.
• Make leaders available as resources, role models, and mentors to drive progress and completion of action items.
• Ensure that partners delegate action item tasks and projects to reliable, capable staff and manage their progress.

For the complete article, read “Lack of Implementation – The #1 Obstacle to Success.”

From RedZone, Play of the Month, Accountants Advisory Group, http://www.AccountantsAdvisory.com, November 2011.