seven essentials for ensuring success of a new hire

even in a recession, hiring never stops. and especially in a recession, it’s never more important to get it right.

here are seven tips from the oklahoma society of cpas:

1 – welcome new employees before their official start date. though a basket full of goodies would be nice even a small hand-written note from the employer expressing gratitude to the employee will work.

2 – before the new person starts, announce the hire internally and provide background on the new team member and encourage fellow employees to make the newbie feel welcome.

3 – on the first day, the employee’s supervisor should be available to take him or her to lunch and introduce him or her to other employees. if this isn’t feasible, assign this role to a colleague. failing to do so sends an unpleasant message.

4 – ensure that the new employee receives a complete organizational briefing.

5 – be sure the office is clean and orderly, business cards are ready and computer passwords have been provided.

6 – explain the organization’s business goals and make sure the new employee understands how vital his or her role is to their achievement.

7 -clearly establish goals for the employee and check progress.

more new year resolutions: cpas set new goals for 2009

what are your new year’s resolutions? add your comment here.

by rick telberg

the new year always feels like the right time to reflect and then identify a few key strategies to break some bad habits, set new goals and improve skills – both professionally and personally. the question remains open: what are your new year’s resolutions?

while you consider your answers, check out these from professional colleagues around the world and let us know what you think.

i have plenty of items to pick from, but i think my commitment will be:

professionally – explore new avenues of delivering value to our clients using technology in a new way. web delivery, video conferencing and online communities, to name a few will be areas that i will be concentrating on in 2009.

read more →

small business labs: interesting small business facts and data from the sba

the sba released a reference guide (pdf, 106 pages) to small business activity that includes state level detail.

a lot of good information including:

  • between 2000 and 2005 the number of nonemployer business (personal businesses) grew at a rate almost 4 times faster than the overall growth growth rate for businesses. as of 2005 there were over 20 million nonemployer businesses.
  • the number of small employer business (less than 500 employees) grew at a rate roughly 3 times faster than large companies. in 2005 there were roughly 6 million small employer businesses.
  • small businesses created almost 80% of the us economy’s net new jobs from 2004 to 2005.

“these numbers clearly illustrate the growing role the small business sector is playing in the us economy,” according to small business labs: interesting small business facts and data from the sba.

bruce w. marcus: what to do in a recession

marcus, the reigning guru of professional services marketing, has a few tips for marketing into a recession. well worth reading, remembering and using:

  1. there may be real opportunity in that competitors may be retrenching, which means that if you attack where competitors retreat, your normal marketing impact may be magnified.
  2. refocus your marketing efforts to emphasis strategy. for example, if you’ve been concentrating on the catalogue of marketing tools, shift emphasis to market analysis and an abrupt strategy change. by demonstrating your ability to focus on markets for your firm’s services, you might bring management to better understand the firm’s markets. if you can do this effectively, you might get the firm to prune efforts in weaker services, and on weaker clients, and refocus on services and clients that give greater return on investment.
  3. analyze the firm’s clientele in terms of the number of clients in each of the declining, static, and emerging industries. focus strategies on prioritizing on clients and prospects in emerging industries, next on static of table industries, and least on companies and clients in declining industries. by designing programs in this context, you increase potential return on investment, and by making your total marketing efforts more effective, you even may save money.
  4. without minimizing efforts to build name recognition and reputation, focus on demonstrating your firm’s professional capabilities. if you do this, the name recognition and reputation will emerge on their own.
  5. minimize marketing efforts to sell the whole firm, and focus instead on individual practices. again, focus on practices in which you have greater strength, or are in industries in which you have greater experience.
  6. think target marketing. a well-devised direct mail program, for example, is not only effective but cost effective. make a list of ten companies your firm would most like to have as clients, and hit them with a full follow-up program.
  7. don’t worry too much on esoteric problems like firm differentiation. in professional services marketing, competition is won not by showing that your firm is better than their firm, but by demonstrating competence and superior performance industry by industry and practice by practice.

full article at the marcus letter.


webcpa reports on bay street group research: cpa firms to expand despite recession

by webcpa staff

more than a third of cpa firms plan to supplement their workforce in the next 12 months, according to a newly released survey.

the survey, by the american institute of cpas’ cpa2biz unit and the bay street group, found that only 16 percent of the cpa firms polled plan to reduce their headcount next year. meanwhile, nearly half the firms polled intend to keep their headcount steady.

nevertheless, the economy is prompting more tax and accounting professionals to look for new jobs in cpa2biz’s online career center. twenty percent of the cpas polled reported concerns that their firms were downsizing.

see the original at webcpa.

happy new year! now let’s get to work…

cpas list goals for 2009 – both personal and professional.

comment here: what are your new year resolutions?

by rick telberg/at large

accountants the world over seem to be breathing a sigh of relief that 2008 is finally over. they’re looking forward to a fresh start and better business conditions in 2009.

but that’s not all. like most everyone else, accountants are also looking to make and achieve new goals in life as well as business.

a few weeks ago, i issued an invitation on linkedin, the huge and growing networking site for professionals, for ideas on new year resolutions. i was blown away by the number of responses and the thoughtfulness of the resolutions. and they came from the world over – from all across the united states and from mexico,  india and south africa.

read more →

investors push out founder at smart

there’s no smart at smart, says bowman. (subscribe here.)

james j. smart, who founded the firm smart & associates as a sole owner in 1998 and expanded through creative acquisition to a 600-person firm with more than $100 million revenue, is out at smart business advisory and consulting, according to today’s bowman firstalert. steve m. samek replaces smart as ceo-president.

great hill partners, the private equity firm that bought 80% of the firm in may 2007, reportedly asked him to step down. smart isn’t upset. “that’s private equity playbook 101. you replace the ceo who founded the firm with your own person,” he told the philadelphia business journal. “i’m proud of the organization i built and the people there. it’s tough to leave. the next target would have been an ipo and that’s still a long way off. this is a good time for a handoff. there’s not as much acrimony as one would believe.”

to get the firm to ipo, bowman says, samek will need a little more success than he’s had since he was mp at arthur andersen. after aa folded, samek became ceo-principal of fulcrum capital, a strategic and financial consulting and investment firm. for the past couple of years, samek was ceo of chicago-based uhy advisors, a firm with similar issues to sbac including moving into an ipo.

samek, who lives in chicago, will divide his time between sbac’s devon, pa., headquarters and the firm’s chicago and new york city offices. smart, who has a five-year noncompete that runs through may 2012, is meeting with members of the local private equity community in hopes of running another business. he has little interest in re-entering the accounting profession. “i’ve done that,” smart says.


madoff cpa: “don’t cheat!”

if there’s one thing cpa david friehling really couldn’t stand, it was a cheater.

friehling (via clusterstock)
friehling (via clusterstock)

at least that’s what bernie madoff’s auditor-of-record says in a column he wrote for “the trusted professional,” the newsletter of the new york state society of cpas.

here’s the entire column from april (at the ny cpa society)

cheating on taxes is cheating ourselves

by david friehling, rockland chapter president

i assume we are all deep into tax season. i took a minute to step back the other day to think about what i was really doing: enabling our government to collect money. government uses our funds to operate departments and services that support the common good. we are all provided with roads, street lights, defense and recreational opportunities. some of us are also provided with various forms of assistance – and if not us, our elderly parents, or disabled friends and neighbors, etc.

when we see our clients and they ask us to stretch the truth, we are just cheating ourselves. read more →

the solo cpa’s top work-at-home tips

how a solo cpa finds success and happiness working from home.

by rick telberg

with past recessions as a guide, it’s easy to predict that more cpas will be working harder and longer in 2009. and many of those work-hours will be spent at home or on the go.

ballman
ballman

whether you’re climbing the corporate ladder or launching your own practice (or both), you’ll need to know how people succeed at it.

so it’s worth checking in with veteran soloist, harry c. ballman, mba, cpa/pfs. ballman has been soloing since leaving the big eight in 1978. ballman is a past president of the washington, d.c., cpa society and currently an elected member of the governing aicpa council.

here are ballman’s suggestions for going it alone: read more →

madoff’s auditor… doesn’t audit?!

aicpa: madoff’s auditor claimed it didn’t do audits. ethics probe launched.

friehling & horowitz, the small new york auditing firm that certified the financial statements of bernard madoff investment securities, has been telling the aicpa for 15 years that it doesn’t perform audits.

by denying it did audits, the firm avoided reviews by the aicpa. new york is one of only six states that doesn’t require accountants to be peer-reviewed. “the plain fact is that this group hasn’t submitted for peer review and appears to have done an audit,” said aicpa spokesman bill roberts, noting the institute has now launched an investigation into the firm.

because of the madoff scandal, new york state is moving to join the ranks of peer-review states.

read more →

bowman’s reports: cbiz acquires tofias

within just a few weeks of ending an 18-month absence in new york with the acquisition of mahoney cohen & company, cbiz is filling a huge hole in boston by acquiring cambridge, mass.-based tofias, according to bowman’s accounting report. subscribe here.

the two transactions add about $93 million to cbiz’s top line. in addition, the deals reinforce cbiz as a major player in acquisition deals, says allan koltin, the chicago based consultant. it also establishes a high-bar for making an acquisition. cbiz is paying premium prices for the practices.

stay tuned. bowman’s soon will report additional insight into the acquisitions.

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