2016 Next Generation Conference - Track 2docs.cpamerica.org/pdf/Events/NextGeneration/2016/... ·...

August 7-9 | Austin, TX

Effectively Transitioning from One Generation to Another | Strategies to Truly Engage and Retain Your People | Advanced Firm Metrics | Association Overview and Website Tutorial | Workshop - Moving from Historian to Trusted Advisor | Proactive Career Development: Making the Most of Your Opportunities | Who Wants to Sell? Helping your Career by Helping Clients | Learning How to Solve Problems Throughout Your Career | Key Takeaways from Conference

2016 Next Generation Conference - Track 2

Table of Contents

Session Title Facilitator(s) Page CPAmerica Events App 3

2016 Events and Meetings 4

CPE/Evaluation Instructions

Attendee Directory

Agenda

Effectively Transitioning Responsibility from One Generation to Another Jennifer Wilson, ConvergenceCoaching, LLC 20

Strategies to Truly Engage and Retain Your People Jennifer Wilson, ConvergenceCoaching, LLC 87

Advanced Firm Metrics Michael Platt, Inside Public Accounting 155

Association Overview and Website Tutorial Grace Horvath, CPAmerica International 194

Workshop – Moving from Historian to Trusted Advisor

Sam Allred, Upstream Academy 213

Making Social Media Work for Work Joe Rotella, Delphia Consulting 246

Proactive Career Development: Making the Most of Your Opportunities

Sam Allred, Upstream Academy 297

Who Wants to Sell? Helping your Career by Helping Clients Sam Allred, Upstream Academy 328

Learning How to Solve Problems Throughout Your Career Sam Allred, Upstream Academy 356

Key Takeaways from Conference 371

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Leading the Rideshaping the profession’s future and its people

2016 Events and Meetingswww.cpamerica.org

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www.cpamerica.org

New Orleans, LouisianaFocus: Marketing

May 3Marketing Roundtable

Hotel: The Roosevelt New Orleans

Austin, TexasFocus:

January 19A&A Level 1 Training

Hotel: Courtyard Marriott Austin Downtown

Minneapolis, MinnesotaFocus: Technology

June 21-24Technology Roundtable

Hotel: Marquette Hotel, WINDOWS on Minnesota

Colorado Springs, ColoradoFocus: Partner-Level Member Sharing

July 15Central Mountain Partners

Hotel: Garden of the Gods Club and Resort

Chicago, IllinoisFocus: Partner-Level Member Sharing

August 5Midwest Partners

Atlanta, GeorgiaFocus: Partner-Level Member Sharing

August 26Southeast Partners

Hotel: Mandarin Oriental Atlanta

Austin, TexasFocus: Senior/Manager Growth and Leadership

August 7-9Next Generation Conference

Hotel: Westin Austin Downtown

Minneapolis, MinnesotaFocus: Practice Growth and Management

Sept. 21-23Leading Partners Retreat

Hotel: Radisson Blu Minneapolis Downtown

Minneapolis, MinnesotaFocus: Firm Administration

Sept. 21-23Firm Administration Roundtable

Hotel: Radisson Blu Minneapolis Downtown

San Antonio, TexasFocus: Practice Growth and Management

October 26-28CPAConnect Roundtable

Hotel: Hotel Contessa

Savannah, GeorgiaFocus: Tax

November 7-9Tax Conference

Hotel: The Westin Savannah Harbor Golf Resort & Spa

Hotel: TBD

Atlanta, GeorgiaFocus: International Business

Nov. 30 - Dec. 1International Group Meeting

Leading the Rideshaping the profession’s future and its people

2016 Events and Meetings

Crystal Springs, New JerseyFocus: Partner-Level Member Sharing

June 10Northeast Partners

Hotel: Crystal Springs Resort

Minneapolis, MinnesotaFocus: Audit

June 21-24A&A Conference

Hotel: Marquette Hotel, WINDOWS on Minnesota

Hotel: Four Seasons Hotel Atlanta

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2016 Next Generation Conference - Track 2CPE/Evaluation Instructions

1. Go to: https://www.surveymonkey.com/r/NGEN16TR2

2. Complete CPE and Evaluation Forms for each session by COB on Tuesday, August 16.

3. After the CPE and Evaluation Forms are completed, we will email your CPE Certificate.

NOTES:

• Please be aware that after this date, the survey will be closed.

• If you are unable to complete the survey at one time, you can re-enter the survey using the link above as long as you use the same browser and device. All survey responses you previously entered will be saved as long as you go to the next page before exiting.

• For your convenience, we will send you a personalized link that you may use to re-enter the survey on any browser and device.

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2016 Next Generation Conference August 7-9 Austin, Texas Track 2

Track 2

= Panelist= Speaker

= Sponsor

Elizabeth Clarke AKT LLP Salem OR

(503) 585-7774 eclarke@aktcpa.com

Ed Bottone Baum, Smith & Clemens, LLP Lansdale PA

(215) 368-5755 ebottone@bsccpas.com

Jen Landis Baum, Smith & Clemens, LLP Lansdale PA

(215) 368-5755 jlandis@bsccpas.com

Tad Schantz Baum, Smith & Clemens, LLP Lansdale PA

(215) 368-5755 tschantz@bsccpas.com

Jennifer Wilson Convergence Coaching Bellevue NE

(402) 933-2900 Jen@convergencecoaching.com

Yuliya Siarchenia Cummings, Keegan & Co., P.L.L.P. St. Louis Park MN

(952) 345-2500 ysiarchenia@ckco-cpa.com

Alan Deichler CPAmerica International Gainesville FL

(352) 727-4070 adeichler@cpamerica.org

Grace Horvath CPAmerica International Gainesville FL

(352) 727-4070 ghorvath@cpamerica.org

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Track 2

= Panelist= Speaker

= Sponsor

Joyce Arthur CPAmerica International Gainesville FL

(352) 727-4070 jarthur@cpamerica.org

Lisa Browne CPAmerica International Gainesville FL

(352-727-4070 lbrowne@cpamerica.org

Joe Rotella Delphia Consulting Columbus OH

(614) 754-4346 jrotella@delphiaconsulting.com

Jason King DMJ & Co., PLLC Sanford NC

(252) 285-8090 jking@dmj.com

Chris Nicolette DZH Phillips LLP San Francisco CA

(415) 781-2500 cnicolette@dzhphillips.com

Amy Allen DZH Phillips LLP San Francisco CA

(415) 781-2500 aallen@dzhphillips.com

Eric Hunter DZH Phillips LLP San Francisco CA

(415) 781-2500 ehunter@dzhphillips.com

Brad Whitten Erickson Brown & Kloster, P.C. Colorado Springs CO

(719) 531-0445 brad@ebkcpa.com

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Track 2

= Panelist= Speaker

= Sponsor

Kim Mead Erickson Brown & Kloster, P.C. Colorado Springs CO

(719) 531-0445 kim@ebkcpa.com

Philip Erickson Erickson Brown & Kloster, P.C. Colorado Springs CO

(719) 531-0445 philip@ebkcpa.com

Amy Sughroue Frankel Zacharia, LLC Omaha NE

(402) 496-9100 asughroue@fzacpa.com

Heather Bazen Frankel Zacharia, LLC Omaha NE

(402) 496-9100 hbazen@fzacpa.com

Trevor Williams Gelman, Rosenberg & Freedman CPAs Bethesda MD

(301) 951-9090 twilliams@grfcpa.com

Jennifer Arminger Gelman, Rosenberg & Freedman CPAs Bethesda MD

(301) 951-9090 jarminger@grfcpa.com

John Pace Gelman, Rosenberg & Freedman CPAs Bethesda MD

(301) 951-9090 jpace@grfcpa.com

Aki Goto Gray, Gray & Gray, LLP Canton MA

(781) 407-0300 agoto@gggcpas.com

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Track 2

= Panelist= Speaker

= Sponsor

Rich Frizzell Gray, Gray & Gray, LLP Canton MA

(781) 407-0300 rfrizzell@gggcpas.com,

Venice Touze Gray, Gray & Gray, LLP Canton MA

(781) 407-0300 vtouze@gggcpas.com

Brandon Dunn Hagen, Kurth, Perman & Co., P.S. Seattle WA

(206) 682-9200 brandon.dunn@hkpseattle.com

Danny Hartnell Hagen, Kurth, Perman & Co., P.S. Seattle WA

(206) 682-9200 danny.hartnell@hkpseattle.com

Lori Beine HBL CPAs, P.C. Tucson AZ

(520) 886-3181 lorib@hblcpa.com

Catherine Palmisano Hughes, Snell & Co., P.A. Fort Myers FL

(239) 939-2233 cpalmisano@hughessnell.com

Michael Milisits Hunter Group CPA LLC Fair Lawn NJ

(201) 261-4030 mem@thehuntergroup.com

Michael Platt Inside Public Accounting Carmel IN

(317) 733-1920 mplatt@plattgroupllc.com

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Track 2

= Panelist= Speaker

= Sponsor

Chris Snyder Kentner Sellers LLP Vandalia OH

(937) 898-1376 CSnyder@kentnersellers.com

Alan Labbe Kushner LaGraize, L.L.C. Metairie LA

(504) 838-9991 alan@kl-cpa.com

Michelle Treschwig Kushner LaGraize, L.L.C. Metairie LA

(504) 838-9991 michellet@kl-cpa.com

Jon Haderlie Larson & Company, PC Sandy UT

(801) 313-1900 jhaderlie@larsco.com

Jordan Toone Larson & Company, PC Sandy UT

(801) 313-1900 jtoone@larsco.com

Sara Maxwell Maxwell Locke & Ritter LLP Austin TX

(512) 370-3200 smaxwell@mlrpc.com

Jenny Smith McGowen, Hurst, Clark & Smith, P.C. West Des Moines IA

(515) 288-3279 jlsmith@mhcscpa.com

Kristin Clayton McGowen, Hurst, Clark & Smith, P.C. West Des Moines IA

(515) 288-3279 kclayton@mhcscpa.com

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Track 2

= Panelist= Speaker

= Sponsor

Mike DeKock McGowen, Hurst, Clark & Smith, P.C. West Des Moines IA

(515) 288-3279 mdekock@mhcscpa.com

Nate Beck McGowen, Hurst, Clark & Smith, P.C. West Des Moines IA

(515) 288-3279 nbeck@mhcscpa.com

Nicole Loux McGowen, Hurst, Clark & Smith, P.C. West Des Moines IA

(515) 288-3279 nloux@mhcscpa.com

Joshua Stevens Monroe Shine & Co., Inc. New Albany IN

(812) 945-2311 jstevens@monroeshine.com

Matt Wells Monroe Shine & Co., Inc. New Albany IN

(812) 945-2311 mwells@monroeshine.com

Kevin McCafferty Mueller & Co., LLP Elgin IL

(847) 888-8600 kmccafferty@muellercpa.com

Kathleen Moran Pease & Associates, CPAs Cleveland OH

(216) 348-9600 kmoran@peasecpa.com

Sherri Blackwelder Pease & Associates, Inc. Cleveland OH

(216) 348-9600 sblackwelder@peasecpa.com

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Track 2

= Panelist= Speaker

= Sponsor

Joe Rokas Pease & Associates, LLC Cleveland OH

(216) 348-9600 jrokas@peasecpa.com

Beth Leahy Scalco Johnson Leahy & Dudek CPAs, PLLC Austin TX

(512) 328-1094 BLeahy@sjldcpas.com

Phillip Johnson Scalco Johnson Leahy & Dudek CPAs, PLLC Austin TX

(512) 328-1094 PJohnson@sjldcpas.com

Greg Galla Teal, Becker & Chiaramonte, CPAs, P.C. Albany NY

(518) 456-6663 ggalla@tbccpa.com

Mark Vena Teal, Becker & Chiaramonte, CPAs, P.C. Albany NY

(518) 456-6663 mvena@tbccpa.com

Mike Cesternino Teal, Becker & Chiaramonte, CPAs, P.C. Albany NY

(518) 456-6663 mcesternino@tbccpa.com

Ryan McEvoy Teal, Becker & Chiaramonte, CPAs, P.C. Albany NY

(518) 456-6663 rmcevoy@tbccpa.com

Vince Commisso Teal, Becker & Chiaramonte, CPAs, P.C. Albany NY

(518) 456-6663 vcommisso@tbccpa.com

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Track 2

= Panelist= Speaker

= Sponsor

Danny Anderson Tri-Merit, LLC Arlington Heights IL

(847) 637-5677 danderson@tri-merit.net

Ron Crabtree Tri-Merit, LLC Arlington Heights IL

(847) 637-5677 RLCrabtree@tri-merit.net

Amber McGonis Tyler, Simms & St. Sauveur, CPAs PC Lebanon NH

(603) 653-0044 Amber.McGonis@tss-cpa.com

Sam Allred Upstream Academy Helena MT

(406) 495-1850 sama@upstreamacademy.com

Jamie Husemann Wegner CPAs Baraboo WI

(608) 356-3966 jamie.husemann@wegnercpas.com

Dan Dekker Williams & Company, P.C. Spencer IA

(712) 262-1500 ddekker@williamscpas.com

Dan Semmler Williams & Company, P.C. Yankton SD

(605) 665-9401 dsemmler@williamscpas.com

Danielle Ward Williams & Company, P.C. Yankton SD

(605) 665-9401 dward@williamscpas.com

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Track 2

= Panelist= Speaker

= Sponsor

Justin Jacobsma Williams & Company, P.C. Le Mars IA

(712) 546-7801 jjacobsma@williamscpas.com

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2016 Next Generation Conference Agenda The Westin Austin Downtown—Austin, TX

Track 1 – First-Time Attendees = Track 2 – Second-Year Attendees = Tracks 1 & 2 Joint Session =

Sunday, August 7 Track 1 Track 2

6:30 – 9:00 p.m. Welcome Reception & Dinner Located in Paramount Ballroom

Monday, August 8 Track 1 – Continental III Track 2 – Continental I & II

7:15 – 8:00 a.m. Breakfast and Registration

Breakfast located in Paramount Ballroom Registration located in Foyer

8:00 – 8:10 a.m. President’s Welcome & Update

Alan Deichler, CPAmerica International

Located in Continental Ballroom

8:15 – 9:55 a.m.

If You’re Looking for a Great Ride, Get in the Driver’s Seat Most of us learned long ago that we’re in charge of our own life; unfortunately, we sometimes fail to apply that principle to our careers, as well as our personal lives. We are surprisingly willing to take whatever comes our way. Are you proactively managing your career or just reacting to circumstances? Can your career be called successful if you don’t enjoy it? Join Sam for this session as he discusses how to get your hands on the steering wheel of your career and in the process, increase not only your value to the firm, but also your enjoyment. 2 Personal Development CPEs (Basic)

Sam Allred, Upstream Academy

Effectively Transitioning Responsibility from One Generation to Another Organizations across the country are preparing for (or are already facilitating) the retirement of thousands of talented Baby Boomer CPAs. Many elements of succession need attention, but one of the most important areas to address is effective transition of responsibility. Transition affects far more than the retiree –because their transition creates a ripple effect that causes all others in the firm to shed responsibility to. Transition will be an ongoing process for you as you develop as a leader and move your responsibilities to others so you can take on new ones. 2 CPEs

Jennifer Wilson, ConvergenceCoaching, LLC

9:55 – 10:15 a.m. Break

Located in Foyer

10:15 – 11:55 a.m.

Making an Impact: Contributions to Your Firm’s Success Contributing to the health and long-term success of the firm isn’t just good for the firm, it’s vital for your career. To be considered for firm leadership (and then retain your spot as a key firm player), you need to continually make yourself more valuable to the firm. What are the key contributions that every firm leader should make? How will contributing to the firm’s success open doors to more opportunities? Join Sam to learn the practical

Strategies to Truly Engage and Retain Your People The labor market is tight and your best and brightest young team members are in high demand! Are you doing all that you can to motivate your talent in ways that are meaningful to them? Managers that provide motivational and engaging environments for their people experience more productivity and higher retention as a result. Understand the top professional motivators and signs of engagement and how you can directly affect motivation and engagement. Learn quick and

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steps to help you become so valuable to the firm that leadership follows naturally. 2 Business Management & Organization CPEs (Basic)

effective communication techniques to stay close to your top talent. Discuss methods for engaging and empowering your people to achieve the things most important to them – and your firm. 2 CPEs

11:55 a.m. – 1:00 p.m. Lunch

Located in Paramount Ballroom

1:00 – 2:40 p.m.

Creating Win/Win Client Relationships How many times have you heard it (or perhaps said it yourself): “Give me a call if I can help”? Welcome to the world of reactive client service. But how do you move beyond reactive compliance service? How do you foster the kind of client relationship that ensures you’ll be the one your clients think of when they need advice, when they need assistance with their business, or when someone they know needs a recommendation. During this session Sam will explore ways to make the client relationship deeper, more profitable, and more enjoyable (for both you and the client). 2 CPEs

Advanced Firm Metrics This hands-on session will move beyond concepts to practical application by delving into the specifics of key metrics, trends and analysis based on INSIDE Public Accounting’s award winning National Benchmarking Report. Through presentations, individual firm stories, and round table discussions, participants will gain an understanding of the state of the accounting profession today, and specifically what they can do in their firm to help improve the metrics that are critical. 2 Business Management & Organization CPEs (Advanced with knowledge of Firm Metrics)

Michael Platt, Inside Public Accounting

2:40 – 3:00 p.m. Break

Located in Foyer

3:00 – 3:30 p.m. Association Overview and Website Tutorial

Grace Horvath, CPAmerica International

3:30 – 5:10 p.m.

Workshop – Moving from Historian to Trusted Advisor We’ve talked about the benefits of building a better client relationship. Now let’s talk about how to get there. We’ll talk about how to develop expertise that is relevant and valuable to your clients, and how to proactively identify needs so you can consistently recommend innovative solutions

(sometimes even before the problem is fully apparent). Join the discussion about practical, proactive ways to switch from being your clients’ most trusted historian to

their most trusted advisor.

2 CPEs

Free evening to enjoy time with your new peers in Austin!

Tuesday, August 9 Track 1 – Continental III Track 2 – Continental I & II

7:15 – 8:00 a.m. Breakfast

8:00 – 9:40 a.m.

Making Social Media Work for Work

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2 CPEs

Joe Rotella, Delphia Consulting

9:40 – 9:55 a.m. Break

Located in Foyer

9:55 – 11:35 a.m.

Firm Metrics that Matter For many in public accounting, understanding and improving upon the technical aspects of accounting has been, to date, the main focus of all collective educational and work experiences. Regardless of whether or not your goal is to become an owner in an accounting firm, or to be more successful in your chosen career, you need to understand the economics of the business of public accounting and how key metrics impact the success of firms. This session will not only highlight the metrics that current and future leaders keep a close eye on, but will also “connect the dots” to the behaviors needed to improve metrics in any firm. 2 Business Management & Organization CPEs (Basic)

Proactive Career Development: Making the Most of Your Opportunities Last year we talked about “getting your hands on the steering wheel of your career.” So how’s your driving? Have you implemented the principles we discussed to steer you toward your career goals? Have you found roadblocks along the way? During this session, we’ll share success stories and explore how to ensure you don’t speed by the opportunities that surround you. We’ll talk about applying the 10 principles from last year to help you develop a career that is energizing, challenging and enjoyable. 2 Personal Development CPEs (Intermediate)

11:35 a.m. – 12:05 p.m. Lunch

12:05 – 1:45 p.m.

Ask a Partner Take advantage of this no-holds-barred Q&A with a cross-section panel of seasoned partners who will share their experience on how they got where they are today. Partners will answer your questions and discuss what their challenges were coming up through the ranks, how they see these challenges evolving for today’s future leaders, and what things you can do to stay on a path to success in your firm. 2 Business Management & Organization CPEs (Overview)

Moderator: Grace Horvath, CPAmerica International Panelists: Amy Allen, DZH Phillips LLP; Phil Erickson, Erickson Brown & Kloster, P.C.; Trevor Williams, Gelman, Rosenberg & Freedman CPAs; Sara Maxwell, Maxwell Locke & Ritter LLP

Who Wants to Sell? Helping Your Career by Helping Clients For decades, our profession has equated business development with selling – creating discomfort for many and discouraging some of our best and brightest from advancing in their careers. It’s time for a new paradigm, one that emphasizes team effort and focuses on helping rather than selling. It seems like such a natural. Most people would rather help than sell, but how do you make it happen in your firm? Join us and we’ll brainstorm ways to help your career by helping your clients. 2 Business Management & Organization CPEs (Intermediate)

1:45 – 1:55 p.m. Break Located in Foyer

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1:55 – 3:35 p.m.

Skills for Business Development The ability to bring new business into the firm is a central underlying responsibility that applies to all leaders in the firm. Understanding and utilizing the methods of business development such as the difference between the sales process and the decision process, pre-sales process activities like identifying your prospects, and a strong pipeline and how to effectively participate are core professional skills often disregarded or even avoided by professionals who mistakenly think top-notch technical skills are all they need to be successful. This session will walk you through the steps of effective business development, emphasizing skills and components as well as awareness of the process. 2 Business Management & Organization CPEs (Overview)

Alan Deichler, CPAmerica International

Learning How to Solve Problems Throughout Your Career Disagreements, misunderstandings, frustrated expectations and a host of other issues are normal in our busy professional (and personal) lives. Your ability to successfully handle problems (both large and small) has a massive impact on your success – driving your personal growth, impacting your bottom line, and affecting the amount of trust, respect, and connection you have with your colleagues. There’s no “easy button” for life’s problems, but there are timeless principles and proven processes that can be applied to produce positive results. Don’t miss this thought-provoking discussion session. 2 Business Management & Organization CPEs (Intermediate)

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Effectively Transitioning Responsibility from One

Generation to Another

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Jennifer Wilson is a co-founder and partner of ConvergenceCoaching, LLC, a

national leadership and marketing consulting firm dedicated to helping

leaders achieve success by helping them develop and implement

leadership, succession, marketing, and training and development plans.

Jennifer’s ultimate goal is to make a transformational difference in the lives

of her clients and in their businesses.

Named as one of Accounting Today’s 100 Most Influential People in

Accounting, INSIDE Public Accounting’s Top 10 Most Recommended

Consultants, and CPA Practice Advisor’s Top 25 Thought Leaders and

Most Powerful Women in Accounting, Jennifer has worked in both the

public accounting and IT development sectors before cofounding

ConvergenceCoaching, LLC. As a partner for the top ten accounting firm,

BDO USA, Jennifer ran the National Financial Solutions Group practice with

nearly 100 consultants providing financial systems selection, implementation,

and support services to clients.

Jennifer is a member of the Association for Accounting Administration (AAA),

Association for Accounting Marketing (AAM), American Marketing Association,

American Institute of CPAs (AICPA), Society for Human Resource Management

(SHRM), and International Coach Federation. Jennifer is an active volunteer in the

profession and serves as Chair of the Education Committee for AAM, as a member of the

Bill.com Advisory Board, and on the CPA Leadership Panel for the CPA Leadership Institute.

Jennifer is a member of the New Horizon Group, CPA Consultants’ Alliance, and Accountants’ Global

Advisory Panel, all forums for leading consultants to the accounting profession. She is a regular guest columnist

and blogger for Accounting Today, Accounting Tomorrow, and AICPA CPA Insider with many recently published

articles on leadership, partner programs, people management, and business development. She is a nationally

recognized speaker, teacher, and facilitator delivering leadership and marketing programs to accounting and

technology associations, state societies, and firms. In her free time, Jennifer enjoys spending time with her husband

and three girls, gardening, practicing yoga, running, and is also active in her church.

w w w. c o n v e rg e n c e c o a c h i n g . c o m

jen@convergencecoaching.com

voice 402.933.2900

fax 402.939.0027

107 Forest Drive

Bellevue, Nebraska 68005

convergencecoaching.com/blog

facebook.com/convergencecoaching

linkedin.com/in/jenniferwilsonprofile

twitter.com/jenleewilson

Jennifer Wilson

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Effectively Transitioning Responsibility From

One Generation To Another

Facilitated by:

Jennifer Wilson

August 8, 2016

@JenLeeWilson #CCLLC

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Let’s Interact

• What transition challenges are you experiencing?

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Our Objective

• Ensure a smooth transition of responsibility in your firm by exploring:

– When should we start transitioning?

– What mindset is needed to either let go or step up?

– How should we approach transition?

– How do we choose the people to transition to?

– When and how do we tell staff, clients and/or other external stakeholders?

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The Best Time To Start Transitioning Is Now!

• Great leaders of ALL ages ensure they have a successor for all of their responsibilities

• Ensure at least one other team member:

– has a relationship with each of your (internal or external) clients and/or stakeholders

– is learning about the clients’ and stakeholders’ personal and professional needs

– is available to answer their questions

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Letting Go Gracefully

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"You must overcome the tendency to ‘hang on’ too long by facing the reality that the ultimate expression of your success is in

leaving a legacy that lives beyond you. That is why there is no success without

succession.." Jack Lee, Partner

Convergence Coaching

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Letting Go Is Hard!

• Retirees and/or transitioners face the “death” of their career (or position) and pass through the five stages of grief:– Denial -- where many get stuck and never progress

– Anger – where they resent having to transition

– Bargaining – where they want to negotiate ways to put off transition

– Depression or sadness

– And, finally, acceptance

• There is no “space” in most professional entities to process these feelings, so they hide under the surface

• Retirement itself brings with it many fears

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Retirement Fears

• What do you think YOU would fear as you considered retirement?

• What can we do to help those transitioning in light of these fears?

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Aiding The Retirement Mindset

• Declare projected retirement dates for all key leaders/owners annually – get it “out of the closet”!

• Ensure that buy/sell and compensation arrangements don’t incent holding on – so many do!– Negotiate buyouts and modify compensation within 2-3 years to

incent transition

• Encourage all firm employees to develop a life and identity AWAY from work

• Establish a practice of planning for an exciting new possibility for your life after work

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Adopting A Bigger Role

• Fear of losing control often causes leaders to hang on

– Emerging and mature leaders must work together to define a common vision, client service and quality expectations, and agreed upon metrics and measurements of success to then determine how best to achieve them

• Ask questions!

– Learn as much as you can about your department’s and firm’s processes and best practices related to building and deepening client relationships, client service, developing people, marketing etc.

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Adopting A Bigger Role

• Ask for ownership!

– Talk to your mature leaders about your desire to take on additional client or firm responsibilities that you feel qualified for and ask for their input

– Break down client relationships into smaller pieces to identify certain aspects of client relationships and/or engagements to take on as a first step to transition these relationships

– But first, understand what true ownership means

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Ownership

• As an owner, you:

– Do the thinking for the things that you own

– Plan for the future of the things that you own

– Enroll the ownership of others

– Communicate about the things that you own

– Take responsibility for the areas you own when they are off track

• When you own something, you are the person who has to take care of it, fix it when it breaks, and keep it thriving

– You know that the opportunities and problems are squarely yours to deal with and you are totally committed to do so

• Emerging Leaders should begin to develop new client relationships through networking or business development so you can “own” the relationship from the onset

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Facilitating Leadership Transitions

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Question…

• What advice can you give others in the process of facilitating transition?

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Leadership Transitions

• When a key leader or owner is leaving, it is important to

identify all that they own (areas of the operation, service

lines, people who report to them, and clients – internal and

external)

• Each of their areas of ownership must be examined for a

possible successor

– Usually, more than one person succeeds, or takes over,

“pieces” of the departing person’s role

– You cannot choose a successor without first defining the

role they would take on, which might look like this…

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Audit or Tax Partner Ownership Areas

Mentees Clients they own Department functions they

Administrative functions they may undertake

Referral sources they manage

Industries they specialize in

Committees and or boards they

serve on

Networking organizations

they work

Engagements they manage

Specialized service skills they possess

Training they may conduct

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Firm-Wide Roles

Leadership Strategic Planning Staff Recruiting Staff Retention

Financial Planning Billing and Bookkeeping

Marketing Sales

Service Delivery and Scheduling

Risk Management Client Satisfaction Internal IT

Office Admin. Director of Fun Training & Development

Service Line –Audit

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Firm-Wide Roles

Service Line –Audit

Service Line - Service Line - Service Line -

IT Consulting CRM Selection Paperless Project X Initiative

X Initiative X Initiative X Initiative

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How To Approach Transition

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Review Relationships To Transition

• Make a list of all relationships and engagements to be transitioned

• Sort the list in descending revenue or size of work order

• Look to see if Pareto’s Rule applies, where 80% of your revenue comes from 20% of the clients/projects

• Plan to spend 80% of your energy ensuring the transition of the top 20% of the clients/projects

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Sample Client Transition Grid

Client Company

Client Contact

Revenue YTD

descending

order)

Priority for

Transition (A,

B or C)

New Client Owner

Others Involved In

Account

Date Told of Transition

Date Transition Completed

Status or Comments

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Consider A Similar Process For Prospects And Referral Sources

• Don’t forget to track the transition of networking and community activities as well

Prospect Name Priority for

Transition (A, B

New Prospect Owner

Others Involved with

Prospect

Date Told of Transition Plans

Status or Comments

Referral Source / Alliances / Networking

Groups / Other Key

Relationships

Priority for

Transition (A, B

New Referral Source Owner

Others Currently Involved

Date Told of Transition Plans

Status or Comments

• Don’t forget to track the transition of networking and community activities as well

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Ranking The Clients

• A clients – the most valuable, important client relationships

• B clients – the pretty great clients

• C clients – clients that are OK but have some issues

• D clients – clients who are hard to serve due to culture, risk, payment issues, or their inability to value your organization’s services

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Plan The Transition

• Transitioners and successors should meet individually to discuss the communication and service strategy for each client/engagement/project

• Exchange knowledge and review client/project files and other elements together

• The successor must do their own independent research

• The successor should provide input on how the transition should be handled

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Be A Shadow

• Ask to attend meetings and calls with the client/stakeholder you’re taking over (and have your successors attend yours)

• At first, you will be a shadow by listening, learning and asking questions afterward

• Later, ask to take responsibility for the new relationship’s success

• Go to the transitioner with thoughts, ideas, and plans to get feedback and keep them in the loop

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Step Out OfThe Shadows

• As you take on ownership, the person transitioning must become the shadow

• When the client or stakeholder emails or calls, the person transitioning should forward it to the new owner to handle

• The person transitioning can follow up with the client/stakeholder afterward to check in

• In meetings, the person transitioning should defer all questions asked to the successor and stay in the background

• Then, the transitioner can debrief with the new owner afterwards and allow him or her to follow up with if necessary

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"Some people believe holding on and hanging in there are signs of great strength.

However, there are times when it takes much more strength to know when to let go

and then do it." Ann Landers

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Identifying The Right Successor

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How does your firm choose successors today?

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Identify A Successor Who Is The Best Fit

• Rarely are all responsibilities taken over by one owner

• Plan for multiple people to take over the person transitioning’s responsibilities

• Work to identify the best cultural and technical fit for each

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Choosing A Successor

• In most organizations, there are multiple possible

successors for the MP position, department head

positions or managers ascending to leadership

• To choose the right successor, you need a definition of

what you’re looking for (as just discussed) and you

need a clear picture of the strengths and weaknesses

of each potential candidate in the eyes of many where

possible

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Filling “BIG” Positions

• Ideally, you’ll involve others in identifying what types of skills,

abilities, experience, behaviors and “attitudes” are most

desired in the successor

• For big roles Managing Partner or Department Head, consider

producing an online or paper survey to ask key people for

input into this process

• This will help you “measure” your options against the needs

for a more strategic, less emotional selection

– It will also help develop the “case” by which to sell others on the

choice that has been made

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Identifying Your Leaders’Core Competencies

• You want to ask about skills and abilities, but also “intangible” behaviors and attitudes

• Your chosen leader has to be someone people have faith in to lead in the absence of the one that is there now

– They do not have to be a clone or direct replacement, but should be considered by most an improvement over the incumbent in at least a few areas

– Be sure to consider both technical skills and people and “soft” skills – it’s imperative you have someone who is adept at relationship building and comfortable leading a room

• Consider specialty skills, too, such as QC in audit, estate in tax, and business development for both

• You may not have a one-to-one replacement, which may change your processes

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Organizational Development Is Key

• To manage an impending succession and to get ahead of all future

succession plans:

– Identify ownership for all areas of your organization

– Define written role descriptions and outline the duties

and responsibilities of all current leaders and staff

• Start with those leaving in the next 3 years

– Identify each person’s aspirations and motivators

– Define the duties and responsibilities that will need to be transitioned, in

what priority, over what period, and to whom

• Ensure that people leaving are covered and those you want to stay are growing

– Identify possible successors early on and create career development plans

that address all areas of growth needed

• Technical, soft skills, business process and business management

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Contemplate The Ripple Effect

• Successors will have to delegate their own workload to create capacity

• Develop a transition grid for each of the successors

• Help them identify which responsibilities to transition and to whom

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Consider The Big Picture

• Look at who else is retiring or transitioning and when

• Make sure today’s transitioned responsibilities aren’t being taken on by staff who are needed for tomorrow’s transitions

• Try to think ahead so you aren’t faced with multiple transitions in a short period

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Think Carefully About C And D Clients

• Don’t saddle your best and brightest with your lowest ranking clients (or worst projects)

• Client transition is a perfect time to say goodbye to D clients

• If your organization has capacity issues or clients don’t fit the ideal profile, C clients may warrant a transition out

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Client Termination Letter Language

…We have now reached a point that requires us to examine our product/service mix to ensure the quality of life we offer to each of our team members. We have made the decision to focus our efforts on corporate tax, audit and accounting work and to begin referring some of our personal tax work to INSERT REFERRAL SOURCE HERE…

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The Best Time To Tell Others

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Question…

• When and how does your firm talk about transition?

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After You Tell Your Team

• Before telling others, have an agreed upon internal position statement

• At two years from retirement, you might start communicating the planned transition date – at least to some stakeholders

• Assure stakeholders that the transitioner will continue with existing responsibilities

• Let stakeholders know that the transitioner will keep them informed as your plans develop

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Consider The Timing

• Use your transition grid to determine which responsibilities and/or clients will transition first, rather than doing it all at once

– Consider this being done in “waves”

• Map out when each group will transition

• Use peak periods to introduce new contacts

• Slower time periods are great for successors to show interest and deepen relationships with newly owned clients and/or project leads

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Be Transparent

• As a general rule, when someone is 1.5 to 2 years from retirement, be honest with stakeholders about the plans

• Stakeholders notice when we are nearing retirement age

• Staying silent encourages them to make up their own stories

• They might look for another CPA since they haven’t heard from you

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Group Communications

• You may choose to tell certain stakeholders (like A and B clients or biggest users of your service) in person while you tell others by letter or email

• Be sure public announcements of retirement don’t come as a surprise to any stakeholders

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Next Steps

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"The final test of a leader is that he leaves behind him in other men the conviction and the will to go on."

Walter Lippman

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Make Yourself A Promise

• Identify ONE behavior, change, or action that you will commit to go back to your office and apply

– Tell someone on your team the one idea you committed to who can help hold you accountable

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Thank You!

• Contact me at any time and connect with me:

Jennifer Wilson(402) 933-2900

jen@convergencecoaching.comhttp://www.linkedin.com/in/jenniferwilsonprofile

http://twitter.com/JenLeeWilson

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Resources

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ConvergenceCoaching Resources

• ConvergenceCoaching’s web site includes information at:– www.convergencecoaching.com

• Read our Coaching Concepts newsletter: – http://www.convergencecoaching.com/coachingconcepts/

• Visit our blog for posts on these topics: – www.convergencecoaching.com/blog

• Visit our learning center for access to additional courses and our Leadership and Communication, HR, Marketing and Sales Toolsets:– http://www.convergencelearning.com

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• Visit us on Facebook: – http://www.facebook.com/convergencecoaching

• Visit us on LinkedIn:– https://www.linkedin.com/company/convergencecoaching-llc

• Visit us on Google+: – https://plus.google.com/+Convergencecoaching

• Visit us on Instagram: – https://www.instagram.com/convergencecoaching/

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Transformational Leadership Program

• The TLP Session One runs from June 1 to May 31 and Session Two runs from September 16 to September 15 each year

• Each Session’s class size is limited to 25 participants. Over the twelve-month period, participants experience:

– In-depth self-assessments

– Two in-person workshops

– Online, self-study and instructor-led web seminars

– Tailored one-on-one coaching sessions for them and their in-firm coach

– A difference making firm project of their choice

• The fee for your managers and newer partners to honestly identify their strengths and develop strategies and skills to drive performance improvements as they prepare to take on meaningful roles in leading and managing your firm is $5,250

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Succession Resources

• “Answering the Four Most Common Client Transition Questions” by Jennifer Wilson

– http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CPA/SEP/clienttransitionquestions.jsp

• 2012 PCPS Succession Planning Multi-Partner Survey– Multi owner:

http://www.aicpa.org/InterestAreas/PrivateCompaniesPracticeSection/StrategyPlanning/center/DownloadableDocuments/SuccessionSurveyMultiComm.pdf

– Single owner: http://www.aicpa.org/InterestAreas/PrivateCompaniesPracticeSection/StrategyPlanning/center/DownloadableDocuments/SuccessionSurveySoloComm.pdf

• AICPA PCPS Succession Planning Resource Center– http://www.aicpa.org/InterestAreas/PrivateCompaniesPracticeSection/Strategy

Planning/center/Pages/default.aspx

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• “Add a New Owner to Your Firm” by Stephen Weinstein– http://www.questia.com/googleScholar.qst?docId=5001986432

• “An Empirical Study of Single-Tier versus Two-Tier Partnerships in the Am Law” by William D. Henderson at

– http://papers.ssrn.com/sol3/papers.cfm?abstract_id=871094

• “CPA Partner Buyouts: Two Main Methods” by Marc Rosenberg– http://blog.rosenbergassoc.com/2012/04/cpa-partner-buyouts-two-main-

methods/

• “Dispelling 4 Fears CPAs Have About Retirement” by Jennifer Wilson– http://www.journalofaccountancy.com/newsletters/2016/jan/steps-to-embrace-

exciting-retirement.html?utm_campaign=insider&utm_source=cpa

• “Do You Know Have What It Takes To Become A Partner?” by Jennifer Wilson – http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Arti

cles_2012/CPA/Jul/BecomePartner.jsp

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• “Does Your Firm Have a Vision for Its Future?” by Jennifer Wilson– http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/A

rticles_2012/CPA/Jan/VisionForFuture.jsp

• “Featured Articles on Partnership” by multiple authors and the Managing Partner Forum

– http://www.managingpartnerforum.org/tasks/sites/mpf/assets/image/MPF%20-%20Featured%20Articles%20-%20Guidelines%20for%20Equity%20Partners%20-%203-13-133-5-13.pdf

• “Have a Fallback Plan” by Rick Telberg– http://www.journalofaccountancy.com/Issues/2003/Sep/HaveAFallbackPlan.ht

• “Heading off into the Sunset? Avoid these 5 Retirement Pitfalls” by Jennifer Wilson

– http://www.journalofaccountancy.com/newsletters/2015/dec/avoid-these-5-retirement-pitfalls.html?utm_campaign=insider&utm_source=cpa

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• “How to Price an Owner’s Interest in a CPA Firm” by Joel Sinkin and Terrence Putney

– http://www.journalofaccountancy.com/issues/2014/dec/how-to-price-owner-interest-in-CPA-firm.html

• “How to Retire Happily: Preventing the Typical Emotional Hurdles Before they Appear”

– http://community.sedona.com/letting-go-articles/481-how-retire-happily-preventing-typical-emotional-hurdles-before-they-appear.html

• “If You Want to Leave a Positive Legacy, Get Started Now” by Jack Lee– http://www.convergencecoaching.com/if-you-want-to-leave-a-positive-legacy-

get-started-now/

• “Let Go Gracefully” by Jennifer Wilson– http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/A

rticles_2012/CPA/Sep/GoGracefully.jsp

• “Nine Complaints To Let Go Of” by Jennifer Wilson– http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_20

14/CPA/JUN/Nine_complaints.jsp

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• “Nine Complaints Young CPAs Need to Let Go Of” by Jennifer Wilson – http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_20

14/CPA/AUG/9complaintsneedletgo.jsp

• “Overcoming the Fear of Retirement” video by AICPA– http://bcove.me/mbbjk0br

• “Planning And Paying For Partner Retirements” by Joel Sinkin and Terrence Putney

– http://www.journalofaccountancy.com/Issues/2012/Apr/20114578.htm

• “Practice Continuation Agreements: A Practice Survival Kit” by John A. Eads– http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PracticeManagement/P

RDOVR~PC-090211PDF/PC-090211PDF.jsp

• “Pricing Issues for Midsize and Large Firm Sales” by Joel Sinkin and Terrence Putney

– http://www.journalofaccountancy.com/Issues/2014/Nov/CPA-firm-pricing.htm

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• “The Pros And Cons Of Non-equity Partnerships” by Jennifer Wilson – http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/A

rticles_2013/CPA/Jan/NonEquity.jsp

• “Reluctant Leadership” by Tamera Loerzel

– http://www.convergencecoaching.com/reluctant-leadership/

• “Retirement: Making a Successful Transition,”– http://www.apapracticecentral.org/ce/self-care/retirement.aspx

• “The Retirement Syndrome: The Psychology of Letting Go” by Manfred F. R. Kets de Vries

– http://knowledge.insead.edu/abstract.cfm?ct=12395

• “Securing the Future: Building a Succession Plan for Your Firm” by Bill Reeb– http://www.cpa2biz.com/AST/Main/CPA2BIZ_Primary/PracticeManagement/Pr

acticeAdministration/PRDOVR~PC-090486/PC-090486.jsp

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• “Seven Stewardship Strategies for Ensuring Firm Sustainability”– http://www.convergencecoaching.com/pdf/issue_34_-

_sustainability_succession.pdf

• “Succession Challenges for U.S. CPA Firms to Tackle” by Jim Knafo– http://www.journalofaccountancy.com/issues/2014/nov/gaa-succession-

challenges.html

• “Succession Planning and CPAs’ Golden Opportunity– http://www.journalofaccountancy.com/issues/2015/oct/succession-planning-

cpa.html

• “Succession Planning Dos and Don’ts” by Anita Dennis– http://www.journalofaccountancy.com/Issues/2005/Feb/SuccessionPlanningDo

sAndDonts.htm

• “Succession Planning Is All about Transitioning” by Tamera Loerzel– http://www.convergencecoaching.com/pdf/issue_34_-

_sustainability_succession.pdf

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• “Succession planning on the rise, but about half of CPA firms haven’t implemented a plan” by Neil Amato

– http://journalofaccountancy.com/News/20126519.htm

• “Ten Steps To Make Succession A Strategic Process,” Coaching Concepts, Issue 26, Spring 2011

– http://www.convergencecoaching.com/pdf/issue_26_-_succession_as_a_strategic_process.pdf

• “There Is No Success Without Succession,” by Jack Lee– http://www.convergencecoaching.com/there-is-no-success-without-

succession/

• “These Steps Can Help You Embrace an Exciting Retirement” by Jennifer Wilson

– http://www.journalofaccountancy.com/newsletters/2016/jan/steps-to-embrace-exciting-retirement.html

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• “Thinking About Retirement? Time to Think About Your Psychological Portfolio”

– http://www.apa.org/research/action/retire.aspx

• “Transition Is All Around Us” by Brianna Marth– http://www.convergencecoaching.com/transition-is-all-around-us/

• “What Grade Would Your Clients Earn?” by Brianna Marth– http://www.convergencecoaching.com/what-grade-would-your-clients-earn/

• “What’s Your Firm’s Path to Partner?” by Jennifer Wilson – http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/

Articles_2012/CPA/Nov/PathPartner.jsp

• “You Need Capable Successors for a Seamless Transition” Coaching Concepts, Issue 26, Spring 2011

– http://www.convergencecoaching.com/pdf/issue_26_-_succession_as_a_strategic_process.pdf

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Change Resources

• “Accounting Services: Harness The Power of the Cloud” white paper by Geoffrey Moore

– http://www.cpa.com/whitepapers/accounting-services-harness-power-cloud

• “Are You Managing Change” by Tamera Loerzel

– http://www.convergencecoaching.com/are-you-managing-change/

• “Change: Getting Restarted” by Jack Lee

– http://www.convergencecoaching.com/change-getting-restarted/

• “Change: Getting Unstuck” by Jack Lee

– http://www.convergencecoaching.com/change-getting-unstuck-2/

• “Change: Keep on Keeping On” by Jack Lee

– http://www.convergencecoaching.com/keep-on-keeping-on/

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Change Resources

• “Choose or Change!” by Jennifer Wilson

– http://www.convergencecoaching.com/choose-or-change/

• “Communicate to Drive Change” by Jennifer Wilson

– http://www.convergencecoaching.com/communicate-to-drive-change/

• Crossing the Chasm by Geoffrey Moore

• Diffusion of Innovation by Everett Rogers

• “Drive Change in Both Mechanics and Behavior” by Jennifer Wilson

– http://www.convergencecoaching.com/drive-change-in-both-mechanics-and-behavior/

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Change Resources

• “Failure is Not Fatal” by Tamera Loerzel – http://www.convergencecoaching.com/failure-is-not-fatal/

• “Manage Change Strategically and Drive More Willing Adoption,” Coaching Concepts, Issue 35, Winter 2015

– http://www.convergencecoaching.com/coachingconcepts/leadership-lessons/

• “Managing Change Successfully” by Jennifer Wilson – http://www.journalofaccountancy.com/issues/2014/apr/change-

management-20139196.html

• “Nine Complaints To Let Go Of” by Jennifer Wilson– http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2

014/CPA/JUN/Nine_complaints.jsp

• “Nine Complaints Young CPAs Need to Let Go Of” by Jennifer Wilson – http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2

014/CPA/AUG/9complaintsneedletgo.jsp

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Change Resources

• “Plan Your Change Communications and Drive Adoption,” Coaching Concepts, Issue 35, Winter 2015

– http://www.convergencecoaching.com/coachingconcepts/practice-perspectives/

• “Who Are You Going To Be In the Face of Change?” by Tim Weir– http://www.convergencecoaching.com/who-are-you-going-to-be-in-the-face-

of-change/

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Strategies to Truly Engage and Retain Your

People

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