Presented By: Gary Adamson, CPA How to Self-Assess Your Firm in Five Critical Areas of Leadership and Management – An Essential Step to Becoming a Great Firm Presented By: Gary Adamson, CPA

Gary Adamson, CPA Recovering Managing Partner Over 20 Years as MP of Brady Ware, a Top 200 Firm Grew firm from 9 to 130+ people Now working with firms to reach solutions, faster Consultant, author and speaker

Adamson Advisory Follow our blog at www.adamsonadvisory.com/blog Sign up for our newsletter at www.adamsonadvisory.com Contact us at gadamson@adamsonadvisory.com Call us at 765-488-0691

About Adamson Advisory Partner Succession Partner Retirement and Agreements Mergers and Acquisitions Partner Compensation Firm Governance Partner Retreats Partner Coaching and Goal Setting

Is “Good”, Good Enough? Things are “pretty good”. We’re doing well; pretty “comfortable” (if we could just find more people). Top line is going up but profits seem to be getting squeezed. Big changes on the horizon – not sure how that will affect us.

How do We Get Better? Positioning the firm for the future. Too focused on the numbers? Too comfortable? Jim Collins’ Good to Great. Are we focused on the right things to move us forward?

What Makes a CPA Firm Great? Accountability Leadership Development Growth Intangibles Skilled, Motivated Staff The Right People on the Bus Production Leadership & Management Quality Work Delivering Great Service

Smart People… “High expectations are the key to everything.” Sam Walton “Opportunity is missed by most people because it is dressed in overalls and looks like work” Thomas Edison

Five Critical Areas Client service Growth People development Partner group performance/leadership Financial metrics/management

Rating Scale 5 Best of the Best – we own this 4 Excellent 3 Good (nothing wrong with good) 2 Just OK 1 Poor 0 We’re not doing this

Client Service 7 Best Practices Two Examples We have a consultative approach in serving our clients in addition to satisfying their compliance needs. We continually strive to improve our service delivery processes. Rating Strengths Weaknesses

Growth 8 Best Practices Two Examples We track and grow our average revenue per client each year by at least our top line growth rate. Our partners have individual business development goals. Rating Strengths Weaknesses

Polling Question We have a consultative approach in serving our clients in addition to satisfying their compliance needs. True False

People Development 10 Best Practices Two Examples We are committed to making the investment to hire more than we need. We have an inclusion (communication) plan to connect to our young hires. Rating Strengths Weaknesses

Partner Performance/Leadership 12 Best Practices Two Examples We set stretch partner goals and we have a partner performance evaluation process. We have productive partner meetings and we support the decisions of the group. Rating Strengths Weaknesses

Polling Question We have an inclusion (communication) plan to connect to our young hires. True False

Financial Metrics 7 Best Practices Two Examples Our average collected rate per hour is in the top 25% of our peers. We manage our realization rate to between 85% and 90% of revenue. Rating Strengths Weaknesses

Two Most Important MP Duties Working with partners to maximize their individual performance. The steward of the firm’s vision and strategy.

So, What’s Next? Best Practices Network Share all 44 Best Practices with you. Dig deeper into the BP’s in the five areas with focused round table groups. Help you evaluate based on the size of your firm. Watch for a follow up communication.

Questions?

Thank You Follow our blog at www.adamsonadvisory.com/blog Sign up for our newsletter at www.adamsonadvisory.com Contact us at gadamson@adamsonadvisory.com Call us at 765-488-0691