Four steps to ensure you're a future partner

Posted on Friday, January 24, 2020 by Nicole Fracasso

The position of partner is one many CPAs aspire to hold one day. But reaching this goal requires more than the work being done on your end, the current partners share the responsibility as well.

In a recent article from Accounting Web, Mark Hughes, CPA, partner at ShindelRock discusses the four steps firms can take to help ensure your future as a partner.

First, Hughes says that leaders should “introduce you as a lead on client projects.” This gives you the opportunity to interact with clients and gain experience managing the tasks a partner deals with daily.

Next, Hughes believes the firm should involve you in the decision-making process.

“Years before you become partner, you should be part of the group who makes decisions about the management of the firm,” writes Hughes. “Raising and solving staff concerns, navigating a cultural merger following a firm acquisition and setting firm strategy are all subjects that a senior staff member on the path to partner can weigh in on.”

Third, he recommends becoming involved in the billing process. Billing is a major responsibility at many CPA firms, and can take a while for some partners to get comfortable with, according to Hughes.

“To best understand the philosophy behind billing and learn your firm’s unique approach, you should have plenty of experience actually billing clients (and responding to clients’ questions) before you become partner,” writes Hughes.

Lastly, Hughes suggest engaging in networking opportunities. Before becoming partner, it’s necessary for you to meet the people who are important to the firm, he says.

“Additionally, time allotted in your schedule now to get outside the firm and meet new resources means you’re building your network to support the firm’s success both today and in the future.”

For more advice on the pathway to partner, read the article out now.

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