I know it can’t be done

There is a big home building company in Australia. Their time to build a house was 120 days. My friend, Michael, was running an executive off site planning session with them. He said to the team “how do we build the house in 10 days”? To which they predictably said ‘it couldn’t be done’. Michael’s response…

Partner Remuneration

How much should a partner of a multi partner accounting firm be paid? Should it be equal pay because you have equal shareholding? If it is going to be equal pay then each person my pass the checklist of the ideal partner. Most should not be paid equal. I have a view that a lot…

The big 4 of Accounting

To grow and develop an Accounting firm it needs 4 areas of focus – workflow, people, clients & revenue.  The challenge is that if you just focus on workflow then revenue growth will not happen. If you just focus on revenue only typically the ‘wheels fall off’ workflow and people development. The key is to focus…

Why are Partners, Partners?

Although most accounting firms are operated by sole practitioners (one owner), by my educated guess there are approximately 3 partners for every accounting firm in the world. And from my basic research there over 1,000,000 firms in the world. So somewhere in order of 3,000,000 partners. Worldwide it is estimated to be over a one…

Efficiency woes

Most Accounting firms are on a quest for efficiency. They are focused on systems, process, people and equipment to get more efficient.How can we do the job more efficiently is the management mantra. Accountants have been pretty good at getting efficient over the years. But at what cost? If an Accountant ‘prices in arrears’ where…