As we’ve seen in Part 1 and Part 2 of this series, the corporate model offers CPA firms a compelling alternative to the limitations of the partnership model, particularly for those seeking sustainable growth. But understanding the benefits of the corporate model is one thing, and putting that knowledge into practice is quite another. Realistically speaking, what should a transition from the partnership model to the corporate model look like? Here are some practical steps that can help your firm get started.

In our last post, we reviewed some of the ways that the partnership model can create challenges for today’s accounting firms. But what does work for growth-oriented CPA firms? As Allinial Global President and CEO Mark Koziel pointed out in the LumiQ podcast episode that inspired this series, we can learn a lot by studying the firms that have grown exponentially in the last 15–20 years. Among today’s top 100 US firms, for example, roughly 80% have transitioned toward the corporate model.

In case you missed it, Allinial Global President and CEO Mark Koziel recently joined LumiQ Co-Founder, CEO, and Host Michael Kravshik for an illuminating and impactful podcast episode focused on fixing the broken partnership model in CPA firms. Their conversation was so packed with helpful insights that we decided to create a short blog series highlighting some of its most thought-provoking moments.