Marc Rosenberg, The Rosenberg Associates – Most Recommended Consultant

The Rosenberg Associates
Marc Rosenberg
rosenbergassoc.com

What mindset would you like to see more or less of in the profession?

Marc Rosenberg

Marc Rosenberg

More:  It’s in vogue today for firms to “say” their staff is just as important as their clients. But many don’t walk the talk. I would like to see partners ratchet up their focus on mentoring staff. To do this, they will have to change the traditional model of what a CPA firm partner is: fewer billable hours and accountability for helping staff learn and grow, the latter of which will have to include a strong link with partner compensation.

Less:  Many firms cling to an operational model of high work volume /low price, which produces a time management conundrum that results in their neglect of important partner duties. I would to see this model flipped – higher price/lower volume. Firms will make more money and equally as important, partners’ time will be freed up to manage their firms, mentor staff and do practice development.

What would you recommend firms do over the next two to three years to keep ahead of the game?

  1. Truly walk the talk regarding making their staff just as important as their clients.
  2. Get off the dime and finally tap into the potential that consulting offers. Small and mid-sized firms have been sitting on – and ignoring – a goldmine for decades, opting to focus on compliance work to the neglect of consulting opportunities to those same compliance clients.
  3. Embrace the disruptive force that impending technology changes will cause.

What is the most common mistake being made in the profession today and how can it be addressed?

The most common mistake is time mismanagement. Though partners complain about being too busy, I think they pride themselves on it in a perverse way. The new model of a partner calls for dramatically fewer billable hours and delegation of all lower level work to staff coupled with an increased focus on firm management, staff mentoring and consulting. One way to shake the “busy” mode is to charge higher rates (CPAs have been under-billing their services for decades), thereby maintaining present revenue levels while freeing up partners’ valuable time. Effective goal setting and optimal use of technology will also improve time management.