clients and firms are both looking.
by 卡塔尔世界杯常规比赛时间
as the accounting industry emerges from dark times, many practitioners are blinking in the light of new opportunities.
we’re in a different world now.
- many accountants are freed from central offices. (many clients, too.)
- many clients have gone out of business but moved on to start new businesses.
- new technologies are facilitating automation and the power of small firms.
- the business environment, more complex than ever, requires new services.
- turmoil at the irs is causing both frustration and opportunity.
- boomers in accounting are retiring faster than newbies are being born.
- those newbies have new career goals with less emphasis on income.
- cryptocurrencies are a new frontier in investment and finance.
- inflation is a significant factor that’s linked with rising revenue for firms and clients.
- congress is stagnated between progressives with big ideas and the retrogressive who want to turn back the clock.
with all that in mind, the 2022 卡塔尔世界杯常规比赛时间 business barometer is asking practitioners where this turbulent new world is creating new opportunities.
comments seem to be falling into two main areas:
- opportunities to offer clients something new.
- opportunities for accounting firms to change and to gain new clients.
here are some of the more intriguing ideas and the forward-thinking professionals suggesting them.
1. opportunities with clients
new clients and new kinds of clients need new kinds of services.
how can practitioners help in the new world?
rachel wehr: “planning, client advisory services.”
john kelly: “crypto financing.”
dale: “help our fellow citizens navigate the ongoing economic challenges as well as complicated and burdensome tax laws.”
william burch: “be more of a planning assistant.”
daniel: “help clients with the changing economic climate.”
derrick winke: “value-added services for clients, debt pay-down, social security planning.”
anonymous: “cryptocurrency, helping clients that are unprepared for an economic downturn avoid bankruptcy.”
anonymous: “helping small businesses get set up and stay on track. so many people are leaving employers and starting up their own businesses.”
michael teuscher, cpa, cva: “switch emphasis from compliance to strategic planning.”
anonymous: “tax resolution. as the irs gets caught up and misses the mark on a lot (of) errors they will make, tax pros will have the opportunity to take on more of this business.”
greg hostelley: “virtual cfo services.”
derrick winke: “retirement planning. social security planning for the younger baby boomers, estates and trusts for the older passing baby boomers.”
2. opportunities for firms
the new world is an opportunity for renewal.
where are the opportunities for internal change and the garnering of new clients?
james m. lewis: “a retiring, aging workforce. those that are left should benefit.”
anonymous: “cpa burnout, the great resignation, and abandonment of formerly profitable client work by big firms.”
nic waldron: “fee increases.”
anonymous: “diversification in clients.”
kenneth stafford: “downsizing, outsourcing, specialization and technology.”
mike sylvester: “as qualified partners retire there will be a lot of potential new clients available.”
jan: “a lot of firms aren’t taking new clients, so this is the time to re-look at the clients you have and weed out the more undesirable. there are always new clients coming in the door.”
anonymous: “succession planning.”
anonymous: “automation and outsourcing.”
anonymous: “more efficient processes and higher revenue services.”
anonymous: “becoming creative with the tools we have and the people we got.”
michael guertin: “fewer clients with more tailored services; less competition.”
kevin sethman: “growing small business clients.”
george birrell: “increasing international clients through digital interaction.”
john drawdy: “increase fees since there are fewer and fewer cpas.”
anonymous: “develop relationships with the next generation of business owners. training staff for the future.”
anonymous: “continued consolidation in the local public accounting environment due to retirements will hopefully lead to being able to strengthen the top end of the client list and find a solution that can help support the bottom clients without alienating them.”
anonymous: “reconnecting with clients so they know they are real people with real stories, not just faces on screens or, worse, just words on a screen.”
anonymous: “automating more processes to address staffing shortages/burnout.”
anonymous: “online marketing: facebook groups or youtube channels run by each firm instead of blogs, newsletters or website.”
anonymous: “evolve the norm of public accounting to increased flexibility and less hours. as millennials and gen z start taking more leadership roles in firms, the norm will be reduced hours, less hectic busy season (45 hours max, still have weekends) so we can still enjoy our lives during tax time.”