Succession with a Sense of Urgency

One of the most challenging problems of leading a CPA firm in this very competitive environment is the ability to implement succession strategies and initiatives with a “sense of urgency.” In order to establish a sense of urgency, firm leaders must recognize the necessity to implement strategic goals and objectives that will continuously take the firm to higher levels of success, and achieve timely and appropriate succession plans. Progressive type leaders create a sense of ... continue reading

Using Leverage and Balancing the Pyramid

Many accounting firms have become under-leveraged, creating significant problems with succession planning, growth, profitability, and staff retention. There is a direct correlation between the ability for partners to delegate and leverage their time and the ability to grow the firm and increase profitability. In addition, this issue has been fueling the volume of merger activity over the last five years. The demand and competition for quality staff is a major obstacle in establishing the proper ... continue reading

Top RedZones of 2016

We are happy to share some of the most popular RedZone posts from 2016. Thank you for providing your RedZone comments, feedback, ideas and thought leadership with us. Predictions for 2017 and Beyond The firms that will take full advantage of the huge opportunities for the accounting profession in 2017 and beyond will be those that attract and retain the best staff, offer more formal advisory and solutions-oriented services, and control their direct labor costs ... continue reading

Aiming at Your Target Market

My article “Aiming at Your Target Market” was published in the January/February 2017 issue of New Jersey CPA. When combined with contemporary, focused and consistent marketing activities, target marketing is far more likely to succeed than a one-size-fits-all approach of indiscriminate and “shot-gun type” strategies. Determining a firm’s ideal target market is one of the most critical factors in achieving higher rates of qualified lead generation and closing prospective clients. Many firms feel that by ... continue reading

It’s Winning Time

Republished from our January 2016 blog It’s playoff time in the NFL and teams need to avoid common pitfalls to get to the Super Bowl. We have come up with some common pitfalls we have seen in the public accounting environment that winning public accounting firms need to avoid. Believing that a firm (of any size) can be successful in the long-term without strong leadership at the Managing Partner level. It’s acceptable to fail at ... continue reading