Archive for the ‘Helpful Information’ Category
Wednesday, October 17th, 2018
“The problem with communication is the illusion that it has occurred.” – Sigmund Freud
We have all thought it and probably said it out loud, “Oh no, not another meeting! I don’t have time for this.”
I recently read an interview by Skip Prichard of Paul Axtell about his new book – Meetings Matter: 8 Powerful Strategies for Remarkable Conversations. As Prichard notes, he thought it would be a snooze but he actually even re-read it. The book goes far beyond meetings, it is great advice on how to be more effective.
In the interview, Axtell explains:
- Our time in ineffective meetings far outweighs our time in powerful meetings. No wonder we moan and groan.
- Meetings are actually at the heart of an effective organization. They are a place and situation where clarity can be achieved, decisions made, alignment garnered and actions identified. (Don’t you wish your partner meetings and retreats could be described like that?)
- Conversations matter. Here are the 4 C’s of a Conversation: Clarity, Candor, Commitment, and Completion. (Read more about each one in the interview.)
I’m going to read the book. I hope you read both the interview and the book. Set a 2019 goal to have more productive and interesting meetings.
-
If I'm not happy in this time and place, I'm not paying attention.
-
Jodi Hills
Tuesday, October 16th, 2018
“In case of news, we should always wait for the sacrament of confirmation.” – Voltaire
My October newsletter went out last week. If you did not receive a copy you can sign-up here.
-
Live news teaches you some incredibly strong lessons: that every day is a new day, and it's never too late to fix something.
-
Nancy Dubuc
Monday, October 15th, 2018
“We never know which lives we influence, or when, or why.” – Stephen King
Per
Forbes, here are some tips on how leaders can influence others. Influence is a very important aspect of getting things done inside an accounting firm. You might not have actual power but you can have an amazing amount of influence no matter what your role is at the firm.
Leadership and the 7 I’s For Influencing Others
- Identify the results you want.
- Illustrate your credibility.
- Invest the time in getting to know the people you wish to influence.
- Invite them to share their ideas.
- Investigate options that lead you to common ground.
- Intend an outcome that meets everyone’s needs.
- Improvise as needed.
-
Never mistake the power of influence.
-
Jim Rohn
Tuesday, October 9th, 2018
“If you would be wealthy, think of saving as well as getting.” – Benjamin Franklin
I thought you would find this interesting and helpful. Thanks to Charles Hylan for providing it:
Income per Equity Partner (IPP) is one of the top measurements of overall firm profitability. Our analysis of IPP over the past 10 years is below. Take a look at the findings in the 2018 Rosenberg Survey (based on 2017 data) and see what metrics drive profitability.
Income Per Partner: 2008 to 2017 (Firms Over $2 Million)
- 2008 – $354,000
- 2009 – $365,000
- 2010 – $360,000
- 2011 – $366,000
- 2012 – $386,000
- 2013 – $382,000
- 2014 – $392,000
- 2015 – $406,000
- 2016 – $430,000
- 2017 – $441,000
This information comes from The Rosenberg Survey. It provides a lot of good information. You can order yours here.
-
Never spend your money before you have earned it.
-
Thomas Jefferson
Monday, October 8th, 2018
“Golf is played by twenty million mature American men whose wives think they are out having fun.” – Jim Bishop
I get so many questions about what a partner buy-out and retirement should look like. Here’s an opportunity for you to learn about the current trends presented by Gary Adamson of Adamson Advisory via CPA Leadership Institute.
October 10, 2018 – 1:00 – 1:50 pm EST – Surviving Succession – Partner Buyout and Retirement.
If you’re like most firms, your partner agreements have not been reviewed or updated in a long time. That is dangerous given the succession issues in our profession today and the number of baby boomers retiring. I will discuss best practices and latest trends in how to value your practice, how to pay out the retiring partner, building your bench, and successful client transition to the next generation.
REGISTER HERE.
Friday, October 5th, 2018
“We are what we repeatedly do. Excellence then is not an act, but a habit.” – Aristotle
Dan Hood, editor-in-chief of Accounting Today has summarized for us some of the most common perks offered by The Best Firms. He notes, “The Best Firms share a long list of attributes, policies and best practices that have become table stakes for recruiting and retaining top talent.”
Here is his list of perks and extras offered by The Best. Be sure to read his post to learn more about each perk. Follow Dan on Twitter.
- Dress for your day
- Giving staff more time
- Closing the office at slow times
- Food – and lots of it
- Including family in firm events
- Support for individual community service
- A true commitment to remote work
I have found that several of these are offered by many firms, large and small. The one I wish more firms would address is the last one – a true commitment to remote work.
-
Dispirited, unmotivated, unappreciated workers cannot compete in a highly competitive world.
-
Francis Hesselbein
Thursday, October 4th, 2018
“It is only in sorrow bad weather masters us; in joy, we face the storm and defy it.” – Amelia Barr
It is only October but for those CPA firms in the winter weather advisory sections of the country, it means that ice and snow are just around the corner.
Many firms have snow days or inclement weather policies. I asked advice from several firms from across the country and, as I expected, most firms now expect people to work from home on those days. Firms provide remote access to all employees.
Some firms have made the leap to unlimited PTO and, of course, everyone gets paid for those days they are unable to get to the office. Other firms have put a cap on snow days, allowing one day’s pay.
I found that the firms in the areas where there is always significant snow, rarely close the office. All firms stress the safety of the employees and using common sense about tackling a rough commute.
Here’s my favorite system:
We are no longer closing our office for winter weather. We let individuals decide if they can make it in and if they can’t they can work from home. All members of the team have remote access.
-
Sunshine is delicious, rain is refreshing, wind braces us up, snow is exhilarating; there is really no such thing as bad weather, only different kinds of good weather.
-
John Ruskin
Wednesday, October 3rd, 2018
“People don’t get promoted for doing their jobs really well, they get promoted by demonstrating their potential to do more.” – Tara Jaye Frank.
You know all about performance, right? In your firm, you often talk about performance feedback or pay for performance.
The meaning of performance is varied but for our purpose, we take it to mean the execution of an action, something accomplished, or the fulfillment of a claim, promise or request.
Your employees want to know what you expect of them. Young people entering the profession want to know what their career path looks like. Maybe you should be using performance agreements to clarify what is expected.
A performance agreement is a tool that establishes expectations and accountability for the execution of certain performance standards. Performance agreements must clearly state agreed-upon objectives and how these will be measured.
Learn about the benefits of performance agreements and what points they should contain here (via Mindtools)
-
A man is but the product of his thoughts. What he thinks, he becomes.
-
Mahatma Gandhi.
Friday, September 28th, 2018
“What’s in a name? That which we call a rose by any other name would smell as sweet.” – William Shakespeare
I read an article in the news this morning about Macedonia’s upcoming vote on whether to change the country’s name. If you are a Macedonian, it is a very big deal.
Of course, to me, it brought to mind the name issue within CPA firms especially in this time of merger after merger.
Two things to remember:
- If you are in merger discussions with another firm – talk about the name issue early on in those discussions.
- Keep it short and simple.
Some firms have adopted names that do not even reflect a partner’s name, such as Apiro and Fluence.
Here’s some explanation about the Apiro name and here’s some insight about Fluence.
Recently, I heard about a firm that actually used six partners names. If your firm name is something like – Smith, Jones, Adams, Brown & Black – I bet your clients call you Smith Jones. Why not brand it?
-
Experience is simply the name we give our mistakes.
-
Oscar Wilde
Thursday, September 27th, 2018
“No one is useless in this world who lightens the burdens of another.” – Charles Dickens
Many firms have done a great job of focusing on employee engagement. But, there is more to the story.
Employee engagement and employee experience are not the same.
Employee experience is how the firm provides the employee with an environment, culture, and systems that meet their needs and enables them to do their work efficiently. Employee engagement is an element of employee experience and involves two-way communication.
Research tells us that there are workplace practices that are critical to creating a positive employee experience. They are:
- Organizational Trust
- Co-Worker Relationships
- Meaningful Work
- Feedback and Growth
- Empowerment and Voice
- Work-Life Balance
Here’s a great article posted on CMSWire by David Roe that will give you some interesting details and help you create an effective employee experience for your people.
-
It is literally true that you can succeed best and quickest by helping others to succeed.
-
Napolean Hill
