Most public accounting firm leaders have come to realize that firms today exist in an environment of differentiation and specialization. It is no longer effective to send a message to the market that “we provide quality tax, audit, and assurance services.” This generic message simply does not resonate with potential clients because every firm can make that claim. It is not a winning statement that leads to a valuable client relationship.
We are in an environment of specialization. Increasingly CPA and advisory firms who operate a generalist practice are losing ground to those who operate as niche practice specialists. It makes sense, business owners and managers want to know that you understand their businesses and their industries and that you can anticipate their needs.
While no career path is completely recession proof, the public accounting CPA career path offers a unique opportunity to those seeking stability and opportunity. This path potentially ranges from student all the way up to Partner & Shareholder (read owner with company profit sharing) with a clear route, consistent economic opportunity and career support all along the way.
Many people who come out of college and jump right into their careers are not familiar with the concept of the professional network. Yet, building a professional network is a crucial aspect of developing and managing a successful career over a lifetime.