Partner retreats are a hot topic this time of year, with planning for a summer or late October meeting. That is good, but I think regular partner meetings are also important. The purpose of an annual retreat is usually to develop a long-term strategic plan and/or refine the firm’s goals and direction. The regular meetings are necessary to evaluate current performance and check that you are on rack with the longer-term plan. Here are my suggestions for regular meetings.
Scheduled weekly meetings can bring everyone up to date and provide a platform for discussing, venting and even introducing new ideas. This can be a concise one-hour meeting and can be set at the same time each week. I suggest that an agenda be prepared for this, as well as all meetings.
Many issues arise in a practice, and these are not always the same. A meeting format could be a brief update on how things are going in general, new clients signed on, potential business in the pipeline, staff and scheduling issues, unusual or emerging client situations, the status of major or unusual engagements and projects, and adherence to the firm’s strategic plan. This could be followed by discussions of specific client, staff or systemic issues; marketing; technology usage and adoption; and succession planning.
In addition to these meetings, opportunities to interact over lunch should not be overlooked. This should not supersede client, prospect, mentorship or goodwill lunches, but if two or more partners are in the office and not scheduled to be with anyone else, then they should have lunch together. This is a valuable opportunity to share thoughts, update each other, and possibly collaborate on a nagging client, staff or scheduling issue. These lunches can be 30 or 40 minutes or much longer, but at whatever length, it would be time well spent.
The weekly meetings (and lunches) are primarily updates, and they help keep in touch and make sure everyone is on the same page. More serious issues should be discussed separately at longer meetings without distractions. I suggest monthly offsite meetings for these. The purpose would be to discuss the business of your firm. I suggest these meetings be limited to single issues with concentrated and thorough discussions, input and preparation. The topic should be decided upon at the end of the previous meeting, subject to change based on major issues confronting the practice. Some topics could be staffing and staff growth, development and retention, client service, client satisfaction, added services and referrals, tax season, niche or specialty growth, marketing and practice development, a review of your strategic plan, succession planning, administrative support, pricing and billing methods, accounts receivable, work in progress and firm culture. I once had an all-day meeting on creating excitement with extraordinary results.
I suggest you start the meetings at 9:30 am, take a lunch break, and build in a half-hour period to make or return calls and end at 4:30 pm so there will be time to return calls, respond to emails, and speak to staff if necessary. This will give you a solid six hours of concentrated time to work on your business. You can rent a small conference room in a local hotel and also have lunch there.
The above sets aside dedicated and organized time to work on your business and is a way to deal with your practice and keep everyone current on what they need to know. It also does not cut too much into time needed to be spent on client matters. It also helps if the partners like each other. I know many businesses where each owner has lunch at their desk alone, gulping down a quick sandwich, salad or food drink — too bad for them.
If you are already doing something similar to what I am suggesting, then good for you. If not, why not give it a try? This could only make your business stronger.
If you want a template for your monthly meetings and also information about a retreat, email a request to
Do not hesitate to contact me at
Edward Mendlowitz, CPA, is partner at
