Monday, April 9th, 2018

A Functional, Consolidated Internal Management Team Is A Necessity

“Either you run the day or the day runs you.” – Jim Rohn

My consulting work is mostly with the internal management team at CPA firms. I call this team the IMT for short. Who are they?

  • CEO/Managing Partner
  • COO/Firm Administrator
  • Marketing Director
  • IT Director/Manager
  • HR Director/Manager
  • Training & Development Director/Manager
  • Controller/Finance Manager

Their titles varying depending on the size of the firm. In smaller firms one person may play multiple roles. As my firm was growing, I served in all these roles, except CEO.

I often find that this team suffers from the Five Dysfunctions of a Team (made famous by author, Patrick Lencioni). There is 1) An absence of trust, 2) Fear of conflict, 3) Lack of commitment, 4) Avoidance of Accountability and 5) Inattention to results.

As with most things, in a CPA firm, it is all about communication, or the lack thereof.

Why should firms facilitate, train, encourage and demand teamwork from this group, even if the team is comprised of just two people, the managing partner and the firm administrator? It creates momentum to keep the firm moving forward. Simple as that.

In some firms, if there is not a strong administrative and support leader (COO/FA) working at the proper level, these managers work independently, maybe reporting to the MP or to “the marketing partner” or the “technology partner,” and so on.

In firms where there is a strong MP/FA team, working collaboratively and leading the IMT members, things get done. When this team is dysfunctional and disjointed problems creep in and then pour in.

Some may ask, “What does technology have to do with marketing?” “What does marketing have to do with HR?” If you think for just a moment, it will become clear. The problem is, in many firms, leaders don’t take the time to simply stop and think. The MP is too busy with a huge client load and solving dysfunctions between partners.

Marketing can be a huge benefit to HR (and has been during the last several years when the hunt for good people was high on the to-do list). Finance helps the entire IMT understand and prepare budgets. HR helps marketing, finance and technology educate the entire team about topics in their areas. And, technology is the foundation for most activities and tasks in all of these areas (websites, digital newsletters, processes and procedures, remote connectivity, portals for client service, on and on). Leading, coaching, coordinating and holding all of these people responsible is the firm administrator or COO.

If your IMT people are disconnected, even if it is just two (MP and FA), it’s time to switch to a “connected” model.

Begin having weekly or bi-weekly meetings involving the COO and the IMT team. Once a month or so, the MP should also be involved in the meetings. Develop an IMT Pipeline (things that need to be done and the progress that is being made).

In smaller firms and with new firm administrators, I always urge frequent meetings between the MP and FA (with a shared to-do list). In both models, frequent communication and teamwork will help the entire firm move forward

  • "Success is neither magical nor mysterious. Success is the natural consequence of consistently applying basic fundamentals."
  • Jim rohn

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