Your First Year as a CPA Firm Partner

A perspective on being a rookie! Promotions and celebrations are frequent in public accounting as professionals are stepping up to their next level, whether it’s partner, senior manager, CFO, or otherwise. If you’re one of them, congratulations!

25 years ago, there was this amazing shark movie released called Deep Blue Sea. It was intense, featuring sharks that were Bigger, Smarter, Faster, and Meaner. That’s my kind of shark movie. But those are four things you shouldn’t be as a rookie in a new role. Instead, here’s what you should focus on:

Four Key Things to Be as a Rookie Partner in Public Accounting

1. Slower
   Slow Down: You’ve built up a lot of momentum to get here, but now it’s time to check that pace. This year is all about exploring, learning, and experiencing your new role. Take your time. Learn where your locker is, how to do the lock combination, and don’t rush through the new experiences. Next year, you’ll be more familiar with everything, but for now, savor the rookie season.
2. Asker
   Ask for Help: Just because you’re now a partner doesn’t mean you should stop asking questions. The firm promoted you because they trusted you, but it’s okay to ask questions about how to do things, who to go to for help, and what things mean. Don’t let your new position make you feel like you must know everything.
3. Delegator
   Delegate Wisely: When you were promoted from senior to manager, you probably found yourself still doing senior-level work. The same thing happens when you become a partner. You’ll still find yourself doing a lot of manager work. Find someone to delegate tasks to and be comfortable with it. Your time is valuable, and you’ll be pulled in many directions.
4. Clarifier
   Clarify Expectations: Reflecting on my first year as a partner, I had a list of 43 things I was graded on. I wish I had clarified what was expected of me from the start. Meet with your PIC, your CEO, or whoever oversees you and find out what they expect, business development, cross-selling, billable hours, or even attendance.

Remember Rookie!

So, remember, as a rookie partner, focus on being slower, an asker, a delegator, and a clarifier. These steps will help you navigate your new role successfully.

Partnership Is a Transition, Not a Finish Line

If you’ve recently made partner, or your firm is developing its next generation of partners, executive coaching can help you clarify expectations, make room for leadership, and turn the promotion into a successful transition.

Explore coaching with The CPA Coach →

And, if you haven’t seen Deep Blue Sea yet, first of all, shame on you. Second, get home and watch it.

Thanks for reading.

Related Perspectives

Continue exploring with Coachability: The Skill That Separates Future CPA Firm Leaders, The Leverage Problem, and How to Set Clear Expectations and Build Accountability in CPA Firms.

Explore all Perspectives