What You Should Do If You Are A Partner
Many young accountants working in public accounting have a strong desire to work their way up the ladder and become a partner someday.
There are a few problems with this scenario. First of all, “someday” is not nearly descriptive enough for young accountants just beginning their career.
Most non-partner accountants have no clue what they have to do to become a partner nor what they must do once they become a partner. Even worse, many current partners in accounting firm really don’t have a clear understanding of what is expected of them, even if they have been a partner for years.
You have heard it and read it many times, people entering the profession of public accounting want to know what their career path looks like, beginning on day one. They want to know what the next level, and all the levels after that, look like and how long does it take at each level.
I have observed that many firms have realized they need to document the career path process at their firm for their new hires. But, what about the current partner group?
I remember, several years ago, listening to Sam Allred of Upstream Academy describe a few things that CPA firm partners need to do:
Give up The Right to Remain Silent – When you become a partner, you must speak up at THE meeting (the partner meeting). It is not acceptable to nod your head and then go door-to-door after the meeting talking to the other partners. Not speaking up, in the proper forum, creates artificial harmony.
Keep an Open Mind – I relate this one to the 7 Habits, “seek first to understand and then be understood.”
You Give Up the Right to Make All Decisions – Sole-practitioners have this right. When you make the decision to be part of A FIRM, you give up that right.
Learn to Make the Proper Commitment – Saying/thinking, “I will stay out of the way” is not making commitment. It’s a case of “grudging compliance” vs. “spirited commitment.”
Willingness to Get Outside Your Comfort Zone – You cannot stand still. Becoming partner doesn’t mean you “made it” and now you can coast.
You Become a Leader for Change, Not an Anchor – You are helping row the boat, not sitting in the back and throwing out anchors when something doesn’t go your way.