What Works for Accounting Firms with Succession Planning

Episode 49. In today's practical episode, "What Works for Accounting Firms with Succession Planning." Key takeaways from this episode include: ➯ how succession planning is a big problem with a potentially small solution for accountants ➯ why it's so difficult for accounting firm leaders to identify their partner avatar for succession ➯ what accounting firms need to do with their potential partners to accelerate succession ➯ questions accountancy leaders should ask themselves about how they are nurturing future leaders ➯ the primary consideration for partner material in accountancy firm succession plans ➯ how accountancy leaders can improve the existing skills and diversity of their partner cohort ➯ what natural skills senior managers and directors in accountancy firms should possess to be promotable ➯ a simple way to delegate responsibility to future leaders to check whether they are ready to step up in their accounting career ➯ ways to get the internal team wanting to buy out the senior partners in an accounting firm NOTE TO LISTENERS: The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus 'from the client's perspective' episode on Saturdays. On Sundays, listeners get a short min trailer for the coming week's episodes. Every Tuesday the show gives you a relevant news topic from the accounting and fintech world with a direct application to accountants, CPAs and bookkeepers. Great to stay informed and build your commercial acumen. Every Wednesday and Friday, we feature an uncut interview with top authors, leaders, thinkers and performers in the accounting and fintech world. Every Thursday the show gives you a practical 'here's what works' tips concerning a key challenge, need or strategy for accountants, CPAs and bookkeepers. Great to stay current and keep your skills topped up. Finally, every Saturday gives listeners a bonus episode which focuses on the buyers of accounting services - the clients themselves. In particular how they feel, react to and experience their interactions with accountants. That includes why they buy or don't buy, why they move or stay and why they think how they think about you, your firm, your prices and your offerings. Martin and Rob love to hear from the show's 20,000 unique listeners in 144 countries around the world. If you like the show, leave a review wherever you listen, and please recommend the show to your friends and colleagues.