Wednesday, May 4th, 2022

Together or Apart?

“If everyone is moving forward together, then success takes care of itself.” – Henry Ford

In the world of CPA firm management in a multi-partner firm, the best possible thing that can happen is ALL partners are on the same page.

Sounds simple, right? If you live in a multi-partner firm, you know that it is a distant dream or even a fantasy. It is only natural that individuals have different wants and desires.

If you have two or three partners, things run fairly smoothly. If you have hundreds of partners, they stay out of management and focus on clients and mentoring staff. It is the six to 15 partner groups where I see the most discord.

For years consultants have been advising partner groups that if the majority is in favor of a certain initiative, those not in favor must leave the partner meeting or retreat and act as if they are fully on board with the decision. Does that happen? Rarely.

With two or three partners, decisions are made and acted upon. Four to 15, or so, partners, discord happens. Of course, as the firm expands, it is very important for leadership to know and understand the partners’ preferences and be able to lobby or politic to get the result that is best for the firm.

As the business world has changed, some partners are even outplaced or asked to retire early. I hope things are going smoothly at your firm. Don’t fear confrontation and deal with problems as they arise. The longer you ignore important issues, the quicker your firm will fall behind.

“May the 4th be with you.”

  • "Do or do not. There is no try."
  • Yoda

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