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Gale's Cornerstone Book
Gale’s book, At the Crossroads: The Remarkable CPA Firm That Nearly Crashed, Then Soared is a delightful parable about a sleepy, uninspired CPA firm that transforms into an accounting powerhouse.
Meet managing partner Joe Abriola who has just learned that his partners are on the verge of mutiny. How does the firm recover and thrive? Spoiler alert—Gale’s growth model swoops in to save the day! The book is an instructive tale that’s filled with valuable insight on achieving growth despite the odds.
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If not exactly at a crossroads, accounting firms today find themselves approaching an inflexion point as they contemplate the future. Will their sustainability derive from M&A activity? Is private equity a likely influence? Or will some tenacious mid-market firms continue to evolve organically to retain their independence?
The predictions have come true. Interest in mid-market public accounting firms is hot! Outsiders, from distant CPA firms to private equity organizations, are peering in through the windows. And for the most part, these suitors like what they see.
Much has changed in recent years about the practice of accounting, including how we envision and fashion the future. The work of anticipating tomorrow’s firm is certainly nothing new; proactive firms have been looking beyond the horizon for decades. What is new, however, is what’s required to get there.
I can trace my interest in the potential of chief growth officers in accounting firms to my experience as a CGO in technology companies many years ago. Today, the CGO role is at last, slowly making its way into our profession. Seated at the right hand of the managing partner, the CGO (or director of practice growth on the way to CGO) helps the managing partner create the vision and execution for strategic, sustainable growth.
Tim Keith of Introhive interviews Gale with a focus on pruning clients, future-think and related current topics.
ESG, environmental, social and governance, is one of the hottest trends in business. Whether imposed and applied internally or externally, ESG practices and standards define how organizations perform in areas like sustainability, resource allocation, diversity and inclusion.
Good news—accounting firms are reclaiming pre-pandemic opportunities. I don’t mean live people in real offices wearing pants and enjoying donuts on Friday, although good for you if that’s happening! I’m referring to a resumption of the continual shift toward consulting services. The shift that was interrupted by a global pandemic.
What does it take to be named a Most Recommended Consultant by INSIDE PUBLIC ACCOUNTING for 16 years, and one of the 100 Most Influential People in Accounting by Accounting Today for the past 15 years? To find out, I asked someone who’s done just that – Gale Crosley, of Crosley+Company.
As the financial world was imploding in 2008, Gale ran toward the danger, even as others were seeking a way out, showing her clients how to grow in times of massive market disruption. Before and after that time, her strategic growth consulting practice has helped hundreds of firms pivot in the wake of a major regulatory upheaval, a devastating financial recession, a complex technology disruption, and now a global pandemic. I sat down with Gale recently to learn more.
Imagine a stunning garden, bursting with abundant flowers and shrubbery in a rich variety of sizes, shapes, and hues. At first glance it appears as one rainbow-colored blanket. But if you know anything about growing, you know there are probably two distinct sources of growth in this mature garden—annual plants that live for one growing season then die off, and perennials that regenerate each spring. Savvy gardeners combine both for maximum yield, with one species blooming as others die back.
CPAs are a busy bunch these days. Rarely have I seen more activity than in recent months. What’s behind the uptick in clients and engagements? Multiple factors including new regulations (government loans and forgiveness), shifting tax deadlines and the technology demands of pandemic-driven remote work. As well, I observe a boost in transactional activity fueled by the release of pent-up investment dollars.
Plans for growth? If your accounting or CPA firm is fighting to reach new markets, secure new work or expand its horizons listen to Gale Crosley’s interview on Accounting Influencers’ podcast.
Dan Hood from Accounting Today interviews Gale, as she explains why it’s critical to jettison your worst clients — and how to do it.
Consultant Gary Thomson interviews Gale to discuss the discipline of strategic growth. Accountants are all about service delivery and do a good job at it, but when it comes to growth, it’s an afterthought “when there’s time.” Professionals need to connect the two to see true results. Learn how to go deeper to make growth…
Gale Crosley, a CPA that has spent the majority of her career in sales, marketing, and product development; now advises the nation’s top accounting firms on such issues. She joined us for this episode of Where Accountants Go, the Accounting Careers Podcast.
CPAs are not known for cheetah-like speed. But in early 2020, abruptly cut off from the in-person meetings which have been the lifeblood of their client activity, practitioners were required to pivot quickly to digital platforms, or risk being left in the dust.
Part one of this article addressed the power of digital tools and practices to fuel CPA firm growth. Impelled by the constraints of the coronavirus, firms got on board the cyber train in 2020 at varying speeds and with varying levels of success, mostly on the operational side of the firm.
Shortly after James Moore was named the number one accounting firm in the nation for women in 2020, and while COVID was continuing to stretch firm members, managing partner Suzanne Forbes did the obvious. She donned a pink wig and green eyeshades while lip syncing We Are the Champions on a Zoom call with a couple hundred members of the firm.
On email, during live video presentations and (imagine it!) via phone, I’m getting questions from firms about growth. Lots of questions. Among those asking are managing partners who want to know, “Gale, what would you do if you were in my shoes?”
In part one of this article, I offered guidance to help managing partners leverage the relatively good conditions in which many currently find themselves. I warned, however, that, “unless firms act quickly to chart a course for post-pandemic growth, this temporary uptick will remain just that.” Now, in part two, we delve into the principles and tactics involved.
The world of business is simultaneously expanding and contracting. Technology has stretched our horizons, permitting us to connect with anyone at any time. That same inter-connectedness shrinks the playing field, bringing once-distant markets close.