The Three Questions Every CPA Firm Owner Should Ask Before January Ends

Since becoming a certified coach a decade ago, the start of the year has become a natural time for my clients and me – to reflect on what’s just passed and to set intentions for what’s ahead. When I coach managing partners, I like to ask them three specific questions to help them learn from the past and position themselves for success in the coming year.

Here are those questions, along with some themes I’ve been hearing from my clients:

1. What did you accomplish in the past year?

• From my vantage point, CPA firm leaders were more nimble than ever in 2025, with private equity sweeping in, AI rapidly changing how work is done, and the ongoing talent shortage and retirement crisis driving firms to find their footing in a shifting landscape.
• I saw long-term plans that felt like a “sure thing” get traded for shorter leadership huddles and sprints to the next destination, with iterative learning along the way. The nature of strategic planning is shifting to more iteration and rapid execution.
• Happily, many firm leaders were able to increase revenue and profitability while also laying the foundation for what their firm needs to support its next stage of growth.

2. What did you learn in the past year?

• The lessons I saw partners learn were certainly individual and varied. One learned how to more effectively hold his freedom-loving partners accountable. One learned how to mentor the new managing partner, whose leadership style differs from what the firm experienced in the past. One learned how to shift from line partner to effective department leader.
• More broadly, partners I worked with learned that the work done by partners—and even across CPA firms—needs to shift to higher-value activities. Many partners enjoy working closely with clients and team members, and diving into the deep detail of technical or firm operations. While that’s not wrong, the rising tide of technology and competition is forcing us all to operate at our highest and best use more consistently—which can mean delegating, streamlining, or saying no to the smaller tasks we used to handle ourselves.

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3. What are your hopes or goals for the coming year?

• Sustainable growth and profits. While almost every partner aspires to more revenue and higher partner income, I heard a number of partners talk about burnout and feeling overloaded with work. For many partners, sustainable growth trumps growth at any cost. This often means firming up who “gets to be” a client of the firm (for example, client minimums or ideal client profiles) and pricing accordingly. Moving to a performance-based partner compensation system can also relieve the pressure some partners feel to always do more while rewarding those with the interest and ability to create greater growth.
• Adequate staffing. This is always on the list! Partners want competent people who stay, especially at the middle level. Putting in place the HR and recruiting systems to support this is an important goal for many firms.
• Be tech-current enough. Many partners are feeling technology FOMO (Fear Of Missing Out), even when their firm is quite up to date. Technology is a must for the future, but anxiety won’t help the situation. Partners want to use the right technology in a cost-effective way that produces measurable results. Hype and paying for tools that don’t produce results need to give way to solid ROI and tangible use cases this year.
• Know thyself. With private equity and large-scale retirements reshaping the industry, firms are doing some soul-searching to understand who they are, why they exist, and what they most want for their future. Do they want to remain independent? Is internal transition or culture a priority—or not? Is financial maximization and rapid growth the number one priority? What is unique about the firm and will help it endure and succeed far into the future? One of the most important goals firms need to reach this year is clarity around these foundational decisions, which will then guide their long-term path to success.

Last year brought significant change, and 2026 is likely to continue that trend. By learning from our past and clarifying the future we want to create, we take control of the narrative in our industry and our firms and shape a path toward long-term success.

Best of luck for the new year ahead!