Thursday, February 24th, 2022

Many Concerns

“The best way to escape from a problem is to solve it.” – Alan Sporta

One of the most educational and helpful activities I have experienced in building my knowledge of CPA firm management was the opportunity to meet with groups of managing partners from various firms across the country and listen to them discuss their biggest concerns. I did this when my firm was a member of a CPA firm association and also when I spoke at many of the various CPA firm association meetings. If your firm is not a member of a firm association, you should explore the opportunity.

Experienced managing partners (and firm administrators) have the best insight into what makes a CPA firm tick; what makes it successful and what doesn’t work so well. They also always have a list of concerns. Right now, of course, for most firms finding and hiring talent is at the top of most lists.

Here are some other concerns that I often hear about:

  • Succession
  • Efficiency and inefficiency in processes
  • Partner burn-out
  • Identifying future leaders
  • Training future leaders
  • Losing people to other firms
  • Women’s issues and other diversity issues
  • Dealing with cultural issues after a merger
  • The rapid evolution of technology and funding it
  • Deciding whether to stay independent or merge-up

I am sure you can add to this list. For now, keep a list like this and gather your partners immediately after tax season, discuss the issues, prioritize the issues and, get busy solving the issues.

  • "You aren't famous until my mother has hear of you."
  • Jay Leno

Leave a Reply