I recently returned from attending the Winning Is Everything Conference and to my surprise, I actually personally experienced the theme of the conference.
So how did I come out a winner from this conference presented by a coalition of consultants who specialize in advising CPA firms? First, I was surrounded by partners from the most successful accounting firms across the country. Moreover, it was just the type of conference I love--where both the speakers and attendees are CPAs who are not afraid of change and are willing to share their experiences, successes, and concerns.
In that regard, I discovered the firms that have started using a firm advisory board are very happy with it. Normally, these boards are comprised of clients, referral partners, and even business associates. They serve as a sounding board for new ideas, a barometer of how prospects and clients might react, and needed outside third-parties' viewpoints.
An interesting idea presented was the use of a closed compensation system for partners. Under this system, a partner's income is not made public to all the partners of the firm. The idea is to design a system in which partners are paid primarily for performance instead of longevity, and which reduce the whining and discontent of dissatisfied partners. There were indications by a good number of firm members that some of their partners would be not comfortable in converting to such a system.
By the way, did I mention the conference was in Las Vegas? As I was working my way back to the conference center, I stopped at a nickel slot machine. On a 45 cents investment, I got a return of 22,500 nickels. Winning may not be everything, but it sure is fun.
p.s.: Next year's meeting (www.winning-is-everything.com) will be in Vegas again. I will bet you (no nickels please) that I'll be there.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access