Recently, the NHL held an expansion draft as it welcomed its 32nd team, the Seattle Kraken. The Kraken got toselect a player from each of the existing teams, excluding Vegas who are exempt from the draft, having paid half a billion dollars to secure their franchise a few years back. (Crazy money!)
The way the expansion draft works is interesting.
There are some details that I won’t go into, but the likely outcome for most teams was that they would leave one goalie, seven forwards and three defenders exposed, and Seattle could take their pick.
Imagine an expansion draft in the accounting profession.
Where you have to leave, say, two accountants and an admin person exposed (and for those of you in multi-partner firms, throw in one partner for fun)!
Who would you expose? And who might you lose? And would you care?
If you truly have the ‘A’ team in place, you would be devastated, but if you answered, "No, I really wouldn’t care if they took that person — in fact, it would probably be a blessing in disguise" then perhaps now is the time to think about upgrading your team.
Food for thought — remember, your firm should be serving you, not the other way around.
Having spent almost 10 years in a business advisory capacity in a fast-growing UK firm, Colin Dunn FCA has spent the past 25 years training, coaching and consulting to accounting firms globally. Read more »
How to Own it: deciding who your clients will be, who can work there and the work you’ll do.