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What Makes a Practice Truly Successful?

Jun 24th 2019
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As you muddle through each busy season, each month-end review, client call or even staff hour calculation, do you have a sense of how exactly your firm is growing (if at all?).

How are you comparing your firm’s performance to others or even to your own over time? Sure, there are lists of “top firms” often based on revenue, or because some vendor has deemed your firm ready for the future. So where do you fit in?

We at AccountingWEB have partnered with Karbon, an advanced workstream collaboration platform and valuable practice resource for accounting professionals, to help you assess the deeper factors that help define your firm’s success. To do this we have devised the Practice Pioneer program.

Utilizing targeted survey questions, you can receive your own Practice Excellence Scorecard that truly assesses how successful your business is, and make appropriate adjustments so that it can be all that you wish. You also need a way to take into account all the inputs of your firm and turn that into a singular metric that can be compared to others.

Tested and tuned with over 500 firms across the globe, the Practice Excellence Assessment and Scorecard provides that diagnostic of your firm and unique comparison to others to provide clarity on where your firm stands, where it excels and what opportunities you have to improve.

We have learned that the biggest issues facing firm owners around the world have nothing to do with technical knowledge. Instead, there exists a sizeable gap in the business skills required to be a successful owner and entrepreneur. Unlike the technical side of accounting, which can be measured by CPA credits and exams, there is no way to assess the non-technical proficiency of a firm. This is where the Scorecard comes in.

Over the next several weeks, we will provide you with useful content to further offer best practices in being a Practice Pioneer, as well as an opportunity to take the survey below and see where you rank on the Practice Excellence scorecard and practical next steps for your business.

We look forward to your participation and, of course, helping you with the future of your practice!

 

 

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