Monday, November 23rd, 2015

Keep Your Eye On The Ball

Managing partners and other partners in CPA firms sometimes have challenges when it come to focus.

While it is good to be involved in the community, in your firm association, state society or the AICPA, be careful not to ignore what is going on at the firm. The outside involvement, especially in the community helps the firm grow and prosper.

Some partners, as they accumulate wealth, begin investing in outside businesses. They seem to spend a lot of time outside the firm tending to these businesses. Again, be careful not to ignore what is going on at the firm.

If you are a partner (owner) in an accounting firm, I hope it is your #1 priority. It is a treasure, a valuable resource that needs constant attention. I have known some prominent CPAs that have suffered greatly from taking their eye off the ball (the firm). Some have even lost their firm.

I always advise, don’t kill the goose that lays the golden egg.

  • "A fox should not be on the jury at a goose's trial."
  • Thomas Fuller

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