The Growth Mindset Pilot Program ─ Step #1: A Strategic Focus for Creating Industry Teams
Establishing a growth mindset pilot program for selected locations and industry practices can be helpful as you set and launch your overall industry strategy.
A pilot program will help you establish best practices and build out a repeatable model that can be replicated in other locations and across all industry teams. The pilot should help your firm …
A Growth Mindset Underpins every Successful Industry Strategy
It’s not an exaggeration to say that your firm’s long-term viability depends on how successful you are in creating and sustaining a growth culture and mindset. To succeed at driving growth, industry practice groups must incorporate and reinforce your firm’s growth culture.
The mission could be articulated as follows:
Our firm has a shared set …
Industry group meetings ─ the nuts and bolts.
Meetings that are short and to the point, with prepared agendas, discussion topics and planned follow-up actions, are necessary and productive. The types of meetings listed below will help you advance the progress of your firm’s industry strategy and, ultimately, accelerate growth.
- National industry leaders should meet to share common challenges/hurdles and offer …
Cross-functional industry teams help eliminate silos and foster collaboration.
The best industry teams include professionals from assurance, tax and consulting. Cross-functional teams help break down silos and build collaboration and trust between different lines of business. They also enable team members to get a more holistic view of their clients, which helps team members bring the client the right basket of services or solutions so the business …
7 reasons for effective industry teams ─ and 4 steps to get you there!
The internal and marketplace benefits of your firm establishing industry teams should be immediate and long-term. Your firm will:
- Win more clients by demonstrating deep industry knowledge and experience.
- Build awareness of the importance of industry specialization.
- More easily and systematically share industry …
As an industry leader, be prepared for a potential power struggle.
Leading an industry group isn’t easy. Frequently, CPA/professional services firms’ reporting structures and P&L responsibilities are based on geographic and service line hierarchies, leaving industry heads to achieve their goals through “influence” rather than “authority.” Authority and power within firms is usually established before management recognizes the importance of industry specialization. Once divvied up, sharing power with or …
Industry Specialization ─ Part 2
Helping your Professionals Decide What’s Right for Them
Professionals need to clearly understand your firm’s areas of strength, its chosen industries and service specialties. If everyone understands the depth and breadth of the firm’s capabilities, they’re better able to draw upon the right expertise for each client. They are better equipped to assist industry clients in choosing …
Industry Specialization ─ Part 1
Deciding What’s Right for Your Firm.
An industry specialization strategy can provide your CPA/consulting firm with a road map for organic and acquired growth. It’s one surefire way to accelerate growth for your firm and your people. Done right, it’s a comprehensive strategy in the marketplace where you compete for both clients and talent. Industry specialization is …
