Monday, March 22nd, 2021

Does Your CPA Firm Need to Restart?

“The biggest risk is not taking any risk.” – Mark Zuckerberg

I have observed that many accounting firm really do need to hit the restart button.

Why don’t they? They are afraid, afraid of losing employees, afraid of losing partners and, generally, afraid of the unknown.

I recently read a great article via Accounting Today about Sensiba San Filippo, one of the largest CPA and business consulting firms in Northern California. Here’s an excerpt:

When you hear “firmwide reboot,” most people think about cutting costs, trimming staff aggressively, and cutting back on travel and client entertainment. SSF took a radically different approach: Essentially, they asked themselves: “Why are we really in business?”

Everyone at all levels of the firm had to address three fundamental questions:

1. If you were a client, what would you want in a CPA?
2. If you were just graduating from college, would you want to work at your firm?
3. If your parents walked into one of our offices, would they be proud of the way they saw people treat each other?

Those aren’t the kinds of questions you’ll find on the CPA Exam or in an MBA textbook, although maybe they should be.

Sensiba San Filippo drastically changed their partner compensation program among other things. They lost partners and employees who were not on board with the new vision. Most firms are afraid to take that risk. Are you?

Read the article here.

  • "Only those who will risk going too far can possibly find out how far one can go."
  • T. S. Eliot

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