We often joke at MPB | Leadership Accelerated that the next Managing Partner elected for your firm was the person who happened to be in the bathroom during the vote.
But the reality is, that the overwhelming majority of those stepping into the Managing Partner (MP), CEO, or major leadership role are not fully prepared for what awaits them on day one.
It’s a demanding position, requiring more than just experience—it demands vision, strategy, disenfranchising partners, wearing multiple hats, and a mindset ready for the intense challenges of leadership.
A recent article from McKinsey, entitled "How to become a CEO: A guide for new candidates" highlights four critical areas that I thought were great topics for those stepping into a major leadership role.
Before stepping into a leadership role, it’s crucial to understand your motivations. Sustainable motivation goes beyond power or prestige—it must be driven by a desire to serve and a clear vision for the company's future.
If your motivation is purely ego-driven, the role will feel empty and success will be stagnant. But if it’s about purpose and impact, you’ll be ready for the challenges ahead and be positioned to execute at scale.
👉 Ask yourself: Are you pursuing this role to serve and lead, or are you chasing titles and recognition?
Leaders must master the ability to manage daily tasks while maintaining a broader strategic perspective. It’s about being on the “dance floor” handling day-to-day operations, but also getting on the “balcony” to see the big picture—the future direction of the company and the needs of its stakeholders.
👉 Actionable tip: Build time into your schedule to step back, assess long-term strategies, and adjust course where needed.
Humility is key to growth. To lead effectively, you must recognize your limitations, seek feedback, and focus on collective success, not just personal achievements.
Great leaders are those who are constantly learning and improving, building a culture for growth.
👉 Pro tip: Regularly ask for feedback from your team and peers. What you learn may surprise you—and it will certainly help you grow.
The transition to CEO or MP isn’t just about doing your current job well—it requires thorough preparation. From refining your vision for the organization to mastering the art of communicating that vision with authenticity, leaders must prepare for every aspect of the role.
The selection process is rigorous, and confidence and clarity are key.
👉 Advice: Practice articulating your leadership vision clearly. If you can’t explain where you want to take the firm, neither the board nor your team will follow.
These key points align with the journey to becoming a successful leader—whether in a CPA firm or another organization. At MPB | Leadership Accelerated, we dive deeply into these topics, equipping the next generation of Managing Partners and key leaders within your firm with the tools, mindset, and confidence to accelerate their leadership journey over 6 months vs 10 years.
Join us at the next MPB | Leadership Accelerated bootcamp, where we help leaders like you build the skills and perspective needed to lead with confidence.