Jordan Spieth, a 22-year-old Texan who turned pro in 2012, is now the #2 golfer in the world and the #1 ranked golfer in the U.S. The winner of this year’s Masters and U.S. Open Jordan has the opportunity to win golf’s Grand Slam – if he wins The Open 2015 and the PGA Championship. With the decline of Tiger Woods’ game is Jordan Spieth the heir apparent? Is Jordan Tiger’s successor as the face of U.S. golf?
Who is the heir apparent for your firm? Who is your firm’s Jordan Spieth?
There is a plethora of resources available to help you answer this question. Yet, most CPA firm leaders aren’t taking the time to answer it.
Let’s take a look at this succession issue from the standpoint of your niche markets. You know that your niche champions should:
- Have experience in the industry.
- Be able to lead a team.
- Be able to make decisions.
- Want to be famous in the industry.
- Have a passion for working with clients in the industry.
Let me add: Your niche champions should be willing to do the hard work and be accountable to the team and firm leadership.
You also have an obligation to your niche champions:
- Partners – delegate your own work down so your managers can gain more industry experience and build deeper client relationships.
- Be brave enough to specialize. Organize your client base so your team builds their industry experience and your clients are served by true industry specialists.
- Provide them with education and leadership skills training.
- Provide a budget to implement the marketing plan.
- Provide a clear career path.
The growth opportunities for your firm are many if you implement a niche marketing strategy, identify your niche champions, and future niche champions. Identify your Jordan Spieths.
For those firms that choose not to address the succession question let’s not talk about growth opportunities. Let’s talk about how your firm will remain in business.
The Open 2015 started today. Who is your pick to win?