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This article is the second of a two part series. The first, in our August issue, considered whether or not private equity is a potential option for business owners. This part considers the range of ways to find private equity, the factors that should be considered when choosing from these options, and the criteria that should be used to select the right private equity firm. Do You Want to Improve the Performance and Growth of Your Firm? Then Focus on Key Performance drivers! The challenge that confronts the leadership of every CPA firm is this: How do we build and lead a practice that consistently performs at the upper levels of its potential? Every business — including your CPA firm — is an organizational system of key performance drivers. And the way your key performance drivers function together is what determines the performance and growth of your firm. Here’s the bottom line: your firm is perfectly designed to get the results it’s getting. If you aren’t getting the results you want, then you need to improve the way your key drivers perform. Cross-Selling: One More Time — What Works and Doesn’t Work So you have developed a wonderful menu of products and services to offer your clients and they just aren’t selling like you had hoped. Are your partners not talking to their clients? Are the clients not reading your newsletters, the mailings you’ve been sending out? Do you have marginal attendance at the seminars you offer? Maybe your partners just aren’t cross-selling the firm’s products and services like they should. So what’s wrong? There are those who will tell you that cross-selling just doesn’t work and you should stop trying. Let’s take one more look at it and see if there aren’t a few things you can do. |
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Charles R. McCann,
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