Practice Management
Opportunities & Obstacles. Are you serving the right clients at the right price? How can you create a sustainable culture for existing professionals, achieve profitability goals, build firm value, and make the firm attractive to recruits? Labor shortages, outsourcing, technology, private equity, and the shift to advisory have firms at an inflection point. We have the experience to help you make your best decisions.
Your COXO
The COXO Solution. As firms grow, they often hire a COO to take them to the next level. Our COXO role combines the Chief Operating Officer and Chief Execution Officer. We create and refine plans, track key metrics, infuse new ideas, tackle obstacles, and continuously implement the plans.
The Best Fit. Typically, it is an $8M to $40M firm. Their needs are more complex and until they get to a larger size, it is often difficult to find professionals that fully understand the accounting profession.
No Learning Curve Required. We know what drives firm profitability and culture. Our experience in the accounting profession uniquely qualifies us for that role.
RPH & MVA Approach
RPH. We use our Revenue per Professional Head process to build or refine a firm’s financial performance and culture. The RPH identifies sub-drivers that impact firm performance. Those 4 or 5 sub-drivers each have a series of levers impacting them. Once the sub-drivers and levers are in place, driving your RPH forward is easier.
The RPH Calculation. Include staff accountants to the Managing Partner, while excluding administrative professionals. Using a $10M firm with 50 full-time accounting professionals as an example, the RPH would be $200,000. We use the RPH process to execute your firm’s vision.
The MVA. This is our proprietary Market Value Accelerator is the first step in working with you and helps clearly understand the next best steps to take. The process is detailed here.
What Else We Do. We conduct client upscaling/culling, value price, set up outsourcing, deliver sales training, develop referral networks, create advisory services, develop websites, manage newsletters, and provide marketing support.
Retreats & Roundtables
Custom Sessions. We create engaging, customized sessions, starting with a pre-event meeting and survey of your group, so we can develop a relevant agenda. Our sessions are diverse with discussions focusing on a metrics strategy, M&A, private equity, outsourcing, value pricing, client upscaling, creating an advisory department, partner buy-ins, partnership agreements, disputes, and compensation.
Retreats & Roundtables. We dive deeply into the industry’s current trends and share what we see in other firms. Our sessions focus heavily on interaction with attendees and getting them talking and engaged.
Prefer to Talk In Person?
Initial conversation about your firm and what you are trying to accomplish. We look forward to connecting with you shortly!