1. Managing the Practice to Enhance Growth and Value Potent and Pragmatic Strategies and Solutions to Help you Grow your Business More Effectively

2. Background Co-founder and Managing Partner of ReNew Group Shannon Vincent, CPA 15 years combined experience in public accounting, training, product development and consulting 1991-1996: KPMG, local firm 1996-2001: RAN ONE 2001-present: ReNew Group Co-founder and Managing Partner of ReNew Group Shannon Vincent, CPA 15 years combined experience in public accounting, training, product development and consulting 1991-1996: KPMG, local firm 1996-2001: RAN ONE 2001-present: ReNew Group

3. Session Schedule Leadership and Firm Growth Strategic Planning and Key Profit Drivers Marketing, Selling and Growth Value Pricing – Myth or Reality Team Member Expectations: Breakdowns and Breakthroughs Leadership and Firm Growth Strategic Planning and Key Profit Drivers Marketing, Selling and Growth Value Pricing – Myth or Reality Team Member Expectations: Breakdowns and Breakthroughs

4. Desired Outcome of Series Practical and Potent how to’s to Enhance Growth and Value

5. Today’s Agenda Your Future Depends on Your Ability to Lead Effectively Essentials of Leadership Your Future Depends on Your Ability to Lead Effectively Essentials of Leadership

6. Desired Outcome for Today Leadership Assessment and Foundation

7. Getting the most out of the series I have been told my job is to provoke you Interactive Come from the extreme Take Away’s Copy of the slides

8. The 5 things great accounting firm leaders do They are business people first and accountants second They are market facing They invest in plans, people and processes They push and take risks They have passion They are business people first and accountants second They are market facing They invest in plans, people and processes They push and take risks They have passion

9. My Operational Thoughts… Profitability is determined by Client Selection, Pricing and Effectiveness…Leadership You must complete budgets/targets and close your own books You must set expectations for yourself, your firm and your clients Profitability is determined by Client Selection, Pricing and Effectiveness…Leadership You must complete budgets/targets and close your own books You must set expectations for yourself, your firm and your clients

10. Marketplace Dynamics People Technology Succession M&A Activity People Technology Succession M&A Activity

11. Agenda – Leadership Essentials Set the Standard for an Enduring Great Firm Prepare Relentlessly People Accountability Decision Making and Risk Set the Standard for an Enduring Great Firm Prepare Relentlessly People Accountability Decision Making and Risk

12. Leadership Essentials Set the Standard for an Enduring Great Firm

13. Role of the Partner Traditional Partner = Partner in Your Firm Today Next Generation Partner = Leader – taking the business to the next level Traditional Partner = Partner in Your Firm Today Next Generation Partner = Leader – taking the business to the next level

14. Set the Standard for an Enduring Great Company Core Values Strategy – Big Firm, Niche Player Stretch Goals – 10 in 10 Innovation – First to Do… Core Values Strategy – Big Firm, Niche Player Stretch Goals – 10 in 10 Innovation – First to Do…

15. The Fish Stinks From The Head Down

16. Manager / leader Administers Is a copy Maintains Systems / structure focused Asks how and when Eyes bottom line Innovates Is an original Develops People focused Asks what and why Eyes horizon

17. Manager / leader Imitates Accepts status quo Classic ‘good soldier’ Does things right Originates Challenges status quo Own person Does the right things

18. Moments of Truth Reception AreaLeadership ComputersStrategy/ Business Plans Tax ReturnsRecruiting Dress CodeBrochures TimesheetsWebsite ClientsPerformance Reviews

19. Setting the Standard - Key Questions Do you have a Vision? Do your team member’s know what it is? What are your barriers to achieving it? Do you have a Vision? Do your team member’s know what it is? What are your barriers to achieving it?

20. Take away Take a hard look at your firm’s strategy, goals and leadership Plan for improvement

21. Agenda – Leadership Essentials Prepare Relentlessly

22. Some Basic Plans Strategic Plan Marketing Plan Recruiting Plan Technology Plan Budget Succession Plan Some Basic Plans Strategic Plan Marketing Plan Recruiting Plan Technology Plan Budget Succession Plan Prepare Relentlessly

23. Prepare Relentlessly - Key Questions Do you have a marketing plan? Do your team member’s know what it is? What are your barriers to achieving it? Do you have a marketing plan? Do your team member’s know what it is? What are your barriers to achieving it?

24. Take away Take a hard look at your firm’s planning process Plan for improvement and set key dates Start simple and small

25. Agenda – Leadership Essentials People, People, People

26. People, People, People – The Assessment Process The desired outcomes are: - your team’s view of how the firm is doing in each of the areas - and their suggestions for improvement Set proper expectations – the key The desired outcomes are: - your team’s view of how the firm is doing in each of the areas - and their suggestions for improvement Set proper expectations – the key

27. People, People, People – The Assessment Process Tool – Excel spreadsheet Setting expectations Make it anonymous (1-10) and, importantly, how to improve Follow up, follow up Setting expectations Tool – Excel spreadsheet Setting expectations Make it anonymous (1-10) and, importantly, how to improve Follow up, follow up Setting expectations Team Advisory Board

28. You do that like this VISIONMISSIONSTRATEGY HR CUSTOMER EXPERIENCE SYSTEMS SERVICES MARKETING Strategy influences all disciplines

29. More examples: sample areas on which to rate the firm strategic plan budgeting and target process product turn around time for work office space and reception area work flow computers and software marketing plan marketing collateral (e.g. website, brochures, proposals) recruitment process training and performance review processes strategic plan budgeting and target process product turn around time for work office space and reception area work flow computers and software marketing plan marketing collateral (e.g. website, brochures, proposals) recruitment process training and performance review processes

30. Results Where you are Suggestions for improvement - trenches - little things Community presence Courtesy system Where you are Suggestions for improvement - trenches - little things Community presence Courtesy system

31. Targets and Action plans You will now go about determining priorities, assigning tasks, deadlines and budgets to team members / partners to act on the suggestions for improvement Short term goals, early yardage and communication You will now go about determining priorities, assigning tasks, deadlines and budgets to team members / partners to act on the suggestions for improvement Short term goals, early yardage and communication

32. People, People, People - Key Questions ??????????

33. Take away Assess where you are today Simple plan for improvement

34. Agenda – Leadership Essentials Accountability

35. Business Owner’s Approach to Accountability Accountant’s Approach to Accountability Must have a plan for Accountability Self Accountability Consequences Business Owner’s Approach to Accountability Accountant’s Approach to Accountability Must have a plan for Accountability Self Accountability Consequences Accountability

36. Billable Hours Actual - Target What I did well….. What I did not do well…. What I need help with…… My Plan for next week… Billable Hours Actual - Target What I did well….. What I did not do well…. What I need help with…… My Plan for next week… Accountability – Team Member Weekly Report

37. Business Plan for Additional Office Business Plan for Division Billable Hours Growth Number of New Team Members Budget Consequences Business Plan for Additional Office Business Plan for Division Billable Hours Growth Number of New Team Members Budget Consequences More Accountability Examples

38. Accountability - Key Questions An example of where you doing a good job An example of where you are doing a poor job An example of where you doing a good job An example of where you are doing a poor job

39. Take away Assess where you are today Simple plan for improvement

40. Agenda – Leadership Essentials Commitment to Decision Making, Risk and Responsibility

41. Your Destiny is Based on the Decisions You Make Begin with The End in Mind Follow a Decision with an Action Your Destiny is Based on the Decisions You Make Begin with The End in Mind Follow a Decision with an Action

42. Commitment to Decision Making, Risk and Responsibility - Examples Spouse Partner Coach – ReNew Group Spouse Partner Coach – ReNew Group

43. Decision Making, Risk and Responsibility - Key Questions Please share one key decision you have made Please share one key decision you are putting off If had no fear what is the one thing you would do tomorrow? Please share one key decision you have made Please share one key decision you are putting off If had no fear what is the one thing you would do tomorrow?

44. Take away List your Key Decisions Best and Worst Case Scenarios Track Progress

45. Final Questions for Today ???

46. Review – Leadership Essentials Set the Standard for an Enduring Great Firm Prepare Relentlessly People Accountability Decision Making and Risk Set the Standard for an Enduring Great Firm Prepare Relentlessly People Accountability Decision Making and Risk

47. Next Webinar Strategic Planning Thursday August 9 th 1:30pm Eastern Strategic Planning Thursday August 9 th 1:30pm Eastern

48. Thank you shannon.vincent@renewgroup. com The power of any idea is in the implementation