Buying Out Retiring Partners

Surveys tell us a huge percent of accounting firms are facing the prospects of partners retiring in the near future. In most cases, this is going to lead to the need for the firm to buy the equity of the retiring partner, usually in the form of paying out capital and retirement or deferred compensation…

Read More

7 Reasons CPA Firms Don’t Achieve the Growth They Desire

Growing a CPA firm isn’t easy. There are many dynamics that must align to get a team rowing in the right direction. With a distinct gap between growth rates of the best-performing firms and the rest of the pack its no surprise that high-growth accounting firms have a “secret sauce.” In this blog post, we’ve identified 7 reasons why…

Read More

Doing the Right Work

We are seeing a transition right now. More and more firms are finally making the switch from the long-time, baby boomer managing partner to a younger, less experienced managing partner. It is a very difficult time for both of the people involved, and the firm, in general. The outgoing MP struggles with relevancy and a…

Read More

An Unanticipated Outcome of Case Studies and Testimonials

When working with accounting firms, I am a staunch advocate of creating and sharing case studies and testimonials. Using these tools plentifully on your website and other marketing efforts is a great way to help potential clients visualize themselves as actual clients, picture themselves gaining the benefits of working with your firm and better understand…

Read More

Want to Keep Your Next Gen? FLEX!

Our 2016 Anytime, AnywhereTM Work Survey Will Show You How   We’re excited to present the results from the ConvergenceCoaching 2016 Anytime, AnywhereTM Work Survey, celebrating our third year studying public accounting firm flexible work initiatives. In this first blog in our series, we’ll share the highlights of this year’s survey with responses from 160…

Read More

5 Reasons to Leverage & Delegate Client Contact

The word “succession” is used daily in our industry.  Whether discussing it strategically at an executive level and what it means for partners, reading it in an industry publication, or talking to rising leaders – the issues and conversations around succession are front and center in many firms.  And we need to have serious dialogue…

Read More

Employee Engagement Matters

“Paychecks can’t buy passion.” – Brad Federman It is getting to be a rather tiring topic. To be successful, you must have employees who are engaged. You can Google the topic and find all kinds of advice. The fact is, there is an overwhelming number of people who are not engaged in their work. To…

Read More

Anytime, Anywhere Work™ Survey Says Measure Differently to Flex Time

In the recent IPA/ConvergenceCoaching Road to Retention survey, an astounding 60% of the over 723 young accounting professionals we surveyed said the element of work they least enjoy is the hours.  As firms continue to move towards a flexible work environment, one of the biggest challenges is around this “time” paradigm. For instance, while 97%…

Read More

The Value of Continuous Performance Improvement

In firms today, there are few leaders that do not see the value in performance management (PM) and there is intense focus on creating a process that will effectively engage and motivate the team.  The desire to improve the value of time and effective outcomes are ever-increasing to find the best business strategy.  And while…

Read More

Preparing Your Firm for an Upstream Merger or Sale

With all of the merger activity in the accounting profession today, there is a good chance your firm has been approached to consider an upstream merger or sale. Perhaps you are seeking that as a way to address strategic needs your firm has such as the pressure to provide succession for soon-to-retire partners. Keep in…

Read More