Periodically, the partners of all accounting firms should pause and assess the strategic direction of the firm. Strategy and tactics are easily confused, and I've worked with many firms that hold a strategic advance only to get bogged down in tactical detail. So what's the difference?Strategy deals with direction. It deals with "what we are about." It deals with "What will we look like in three or five years?" Tactics are those necessary action steps that we must take every day, week or month that will get us to that future state.

Over the last 15 years, in working with hundreds of accounting firms, we have developed a strategic assessment tool that we use.

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