Essential Advice for the New Managing Partner

The same generational shift that has the accounting profession fretting about succession, mergers and millennials is also wreaking havoc in another sector of the firm: the office of managing partner.

By one CPA Trendlines study of a fairly typical global association of firms, roughly 25% of the managing partners now serving have held the job for two years or less. In a business that measures job longevity in decades, two years represents rookie status. Considering the advance of age and consolidation, we estimate that within another five years 80% of today’s firms will be under new management.

This new generation of managing partner is bringing new energy and new ideas to the profession. But that hardly makes up for the lack of executive leadership training and experience of the new class of CEO. Mistakes are sure to follow: making big decisions too quickly, or too slowly; misunderstanding the business drivers or looking at the wrong ones entirely; failing to make the right relationships with the right people, or maintaining bad relationships for too long.

And so far, we’re getting an earful. Continue reading

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Three stories of getting customers – an experience report

The first year of a start-up life is funny. Especially to those who look back from its third year. I am in that position right now and I have some stories to share with you.
In the first year, there is no CEO, CTO, and COO… although the business card may say so. I had CEO as my designation printed on my business card and I was cleaning my office toilet whenever needed. To those who do not know what a bootstrapped company is like, they wouldn’t know the CEO sometimes – cleans the toilet. However, at times, when I flashed my business card,

I heard “Wow!”That’s the first dose of reality.

The second dose of reality is very simple. If you are a start-up CEO and enjoy cleaning toilet than getting your company towards the vision, toilet cleaning may become permanent.

Everybody in a company plays the role of business development. Not everybody recognizes it.As of today, I am the one who is consciously playing the role of business development for my company. My designation is Kung Fu Panda and I head Marketing and Sales for Moolya. Continue reading

Common Mistakes Entrepreneurs Make and How to Avoid Them– With Anupendra Sharma, Founder, SLP

Mistakes are a part and parcel of an entrepreneurs life, or for that matter, anyone’s life. But from an entrepreneurs point of view, committing new mistakes each time and learning from them is important. Anupendra Sharma, the founder of Startup Leadership Program went through this cycle as well and having graduated over 800 SLP fellows in past 7 years, he definitely has a lot to share from his experiences. Being an investor adds to his bucket of viewpoints & opinions.

Image source: www.inc.com

There are always few common mistakes which an entrepreneur makes, irrespective of his product, location or market. Anupendra shared, “There’s a whole laundry list of mistakes which early stage entrepreneurs should avoid and speaking of the most crucial ones in my observations, following appears on the top of my head”: Continue reading

3 Innovation Lessons From BlackBerry’s Death Spiral

Disruptive innovation is the art of seeing opportunities when trends shift and markets transition, and the science of seizing those opportunities.

BlackBerry, the corporate world’s beloved, email-with-a-phone-attached gadget had this kind of opportunity in Apple’s recent consumer confidence hiccup. Between the untimely loss of Jobs and a lapse in release of its own self-disrupting product schedule, Apple slowed down a beat.

With the BlackBerry Series 10, it seams, RIM has swung and missed its comeback window.

As Julianne Pepitone of CNN put it, BlackBerry’s simply run out of excuses. Earnings are down, sales of new phones are shallow, stock is down. And the company’s new plan appears to be selling cheap phones in emerging markets before the people in them can afford better phones. Which seems like a bad sign. Continue reading

Twitter CEO Dick Costolo: Money Is ‘Oxygen,’ Not Ultimate Goal

ASPEN, Colo. — Twitter CEO Dick Costolo is getting increasingly creative in his efforts to sidestep questions on when the social media company may go public.

In an interview with Katie Couric at the Aspen Ideas Festival Saturday, he refused to talk about any possible IPO plans, but insisted that making money is not his top priority.

“We think of revenue like oxygen,” he said. “It’s necessary for life, it’s vital to the health and success of the business, but it’s not the purpose of life. You don’t get up in the morning and say, ‘I’ve got to get enough oxygen.'”

Twitter is widely rumored to be planning a public offering in 2014. But Costolo has steadilyrefused to tip his hand on when such an IPO might happen. In the process, he’s come up with a variety of explanations for why he’s not talking about it. Continue reading