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CPA Firm Leadership Tips From a Top MP

Marc Rosenberg, CPA / June 29, 2020

Randy Nail is the Managing Partner (MP) of Hogan Taylor, a $50M Oklahoma-based firm in Tulsa and three other locations.  Randy got a unique baptism to managing the firm in several respects. In 2009, Hogan Taylor was created from a merger of two equal $10M firms.  One of the two firms’ MPs initially served as MP,…

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Don’t Let Retiring Partners Double Dip

Marc Rosenberg, CPA / June 17, 2020

Here’s a question that frequently arises in my consulting engagements:  What are your thoughts on partners wanting to work for the firm in a non-partner role after they retire, who continue to control “their” clients while receiving deferred compensation and a salary for their work? The answer is rooted in the maxim:  “No transition…no goodwill.” …

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Bad Behaviors By Partners… And What Management Should DO About It

Marc Rosenberg, CPA / June 10, 2020

In my experience, roughly 60% of all CPA firms (below the Top 100) have either major partner conflict or a pronounced lack of effective partner communication and/or relations. This is a huge problem because unless the partners of a firm work reasonably well together, it is very difficult for their firm to be truly successful….

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COVID, Adversity and Innovation

Marc Rosenberg, CPA / May 26, 2020

“Sometimes adversity is what you need to face in order to become successful.”  – Zig Ziglar Our country has a long way to go before we fully adapt to a COVID-19 world and navigate compounding national issues.  But CPA firms are resilient and have made major strides in adapting to a new and challenging environment. …

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Reopening Practices

Kristen Rampe, CPA / May 25, 2020

As CPA firms wrestle with how they may change forever, and what they can’t wait to bring back, there are a wide variety of practices being considered. Here are three ideas we’re seeing that highlight differences in reopening strategies within the accounting industry. 1. “How can we get more, or exclusively, remote-only clients?” More than…

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Partner Compensation Therapy Session: Part 2

Marc Rosenberg, CPA / May 15, 2020

This blog series is patterned after a terrific TV show from 2010, “In Treatment.”  The show brought us inside a psychologist’s office as he conducted weekly sessions with various patients.  Gabriel Byrne was masterful as the psychologist.  In this two-part series, the patient is 56-year-old Pat, the oldest of 8 partners in a $10M CPA…

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Partner Compensation Therapy Session: Part 1

Marc Rosenberg, CPA / May 11, 2020

This blog series is patterned after a terrific TV show from 2010, “In Treatment.”  The show brought us inside a psychologist’s office as he conducted weekly sessions with various patients.   Gabriel Byrne was masterful as the psychologist.  In this two-part series, the patient is 56-year-old Pat, the oldest of 8 partners in a $10M CPA…

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How to Move From Pay-Equal to Performance-Based Comp

Marc Rosenberg, CPA / April 29, 2020

QUESTION FROM A READER:  Our 10-partner CPA firm has had a modified pay-equal compensation system for a long time.  We finally seem ready to move to a performance-based system, but there is a lot of anxiety over how to do it.  What’s the best way to pull this off? SOLUTION.  Read on for a dozen…

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Three Main Stages of Evolution: Where Is Your Firm?

Marc Rosenberg, CPA / April 13, 2020

There are some products that are so iconic and popular that it doesn’t seem possible that their success could ever be in jeopardy.  Oreos.  The New England Patriots.  Microsoft Office.  It must be wonderful to own and manage businesses like these that seem to run themselves. CPA firms enjoy no such advantaged status. THE THREE…

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5 Ways to Improve Your Collections Practices

Kristen Rampe, CPA / April 7, 2020

CPA firms find plenty of reasons to delaying billing and collections. Sometimes, it’s difficulty feeling comfortable charging a client those big fees, sometimes it’s just a hassle; often, accountability is low. While you may have been able to get by with these practices before now, and still have relatively good collections rates on your receivables…

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