bill penczak, author at 卡塔尔世界杯常规比赛时间 - page 2 of 3

five tips for better decision-making

follow the principles of collaborative conversation.

by bill penczak

i recently encountered a decision-making process that had grown virtually foreign to me during my decade in public accounting—collaborative conversation. in the course of a week, the dynamics of communication with a prospective client reminded me of how most successful companies operate, and how the decision-making process at many cpa firms can be flawed and even sometimes dangerous.

a friend and former colleague in public accounting, a veteran of the software industry, used to lament about the days of working for a “real” company the people who actually knew about the issue were those involved in decision-making.

marketing & sales

your marketing sucks: six reasons why

want new business? avoid these errors.

by bill penczak

it’s an understatement to characterize cpas as process-oriented, with prescribed steps for financial statement audits and tax return preparation that follow a specific regimen. among the many jokes about accountants, the one that resonates here is:

why did the auditor cross the road?

because he looked in the file and that’s what they did last year.

but the “funny” thing is that while cpas are typically pedantic about the processes for client work, it’s often a case of the cobbler’s shoes when it comes to running their firms in general, and practice development in particular. read more →

client service opportunities

five global cpa leaders: four survival strategies

sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.

//www.g005e.com/2020/08/05/5-firm-leaders-on-how-covid-19-is-changing-their-thinking/ — **new imperatives, from the u.s. to spain, australia, and back:** mcconnell, fay, tomasi, and majchrzak.

by bill penczak

the combination of the summer doldrums and the covid shutdown has provided some firm leaders pause to get in touch with their right-brainedness.

these are difficult times for the economy and the industry, and while some firms hope to return to the good old days, covid and other societal changes may cause a long-overdue sea change in the accounting industry, which has been doing the same thing the same way for more than 100 years.

sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.

management

are you too generous with your write-offs?

five ways to improve operating margin.

by bill penczak

the pandemic has placed new strains on most cpa firms, with a paucity of events other than zoom meetings and many clients hunkering down and not making any changes to anything – least of which their accounting firm relationships, under some semblance of normal.

so when it comes to preserving your original profit goals – or at least salvaging them – firms have an opportunity to seek better processes or staffing options, or both to pivot to the times. as a cfo i once worked with used to say, “you can either raise the bridge or lower the water.”

here are five options for lowering the water (labor cost) as a short- and long-term strategy for greater firm success: read more →

checklist

it’s time to herd your highly compensated cats

six questions to ask yourself about partner accountability.

by bill penczak

the managing partner was trying to contain his frustration, but it was evident, even on a zoom call. we had been reviewing the status of a focused market blitz, in which each of the partners was to come up with only three targets on which they would focus development efforts. when we reviewed the aggregated list, one-third of the partners had not responded to the request.

he was pissed, and i felt bad for him. neither the carrot nor the stick approach had worked. and he was facing another example of lack of partner accountability, which i’m finding is one of the most common frustrations of firm management, regardless of size or specialty.

no firm runs perfectly, and partners, for the most part, have the right intention of supporting firm initiatives and improvements. but they get enveloped in client deliverables, dealing with unplanned people issues, and trying to keep up with billing, collections and wip management.

checklist

nine smooth moves to build client satisfaction

which do you need to work on?

by bill penczak

client relationships have never been more vulnerable, as other firms, reeling from the covid crisis, will be knocking on your clients’ door with promises of better service, more services, and lower rates.

now, more than ever, tax and accounting firms should examine how they can constantly improve the service and relevance to their clients, for today and into the new normal.

checklist

five tough questions for these tough times

do you have the courage to beat the covid crisis?

male-lion-at-rest-portrait-serengeti-2017-telberg-photo crop — telberg.photo

by bill penczak

in times like these, firms should be challenging themselves with the tough question, “what do we want to be, today and into the future?”

if maintaining the status quo and “serving clients,” whatever that really means, are the only responses your partner and leadership teams can muster, then perhaps it’s time to evolve from being a lifestyle firm to being one with a vision and the guts to achieve it.

growth strategies

i started a consulting practice the first week of march

five reasons it succeeded (so far) despite the pandemic

by bill penczak

everyone is no doubt glad the dumpster fire of 2020 has finally ended and that we have a new year to celebrate. the accounting industry has endured layoffs, pay cuts, further consolidation, and firms continue to seek ways to remain relevant as compliance services become more commoditized and margins continue to diminish. after contemplating the move for the greater part of 2019, in january 2020 i formed my articles of incorporation; in february set up my website; and in the first week of march, left my job running practice development for a firm that had been named the 5^th fastest growing firm in the country the previous year to start my own consulting firm.

two weeks later, everything shut down and i thought i’d made the worst decision in my 40-year career. it turned out to be the best.

fast forward to year’s end, and i have four retainer clients, did a few projects for other clients, and have a healthy pipeline of other prospects. my business associates and advisors continually remind me that my role of helping firms create a sustainable process for growth and margin management became even more important during difficult times. in better economies, companies want to grow more. in tough economies, they must.

as i reflect on the past year, there are five reasons my consulting practice thrived despite a terrible economy, shutdowns, and the other things that made 2020 a year to forget, but at the same time, to cherish. and perhaps lessons learned from which your firm may be able to benefit. read more →

featured

6 questions to ask yourself about partner accountability

it’s time to herd your highly compensated cats.

by bill penczak

featured

five ways to improve operating margin during covid

are you too generous with your write-offs?

by bill penczak

the pandemic has placed a damper on new business activities for most cpa firms, with a paucity of events other than zoom meetings and many clients hunkering down and not making any changes to anything – least of which their accounting firm relationships, under some semblance of normal.

the managing partners to whom i’ve spoken, various articles and social media posts suggest embracing your people and your current clients as the best coping strategy for now, which is a solid approach.

so when it comes to preserving your original 2020 profit goals – or at least salvaging them – firms have an opportunity to seek better processes or staffing options, or both to pivot to the times. as a cfo i once worked with used to say, “you can either raise the bridge or lower the water.”

here are five options for lowering the water (labor cost) as a short- and long-term strategy for greater firm success: read more →

featured

re-thinking today’s firm with five global leaders

are you building a cathedral or merely breaking stones?

by bill penczak

the combination of the summer doldrums and the covid shutdown has provided some firm leaders pause to get in touch with their right-brainedness.

sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.

featured

post-covid: not your usual summer to-do list

how will you spend your “vacation” time?

by bill penczak

in normal times, summer was the respite between tax and audit busy seasons, a pause in marketing activities, the time to take it easy and to catch up on cpe, and to conduct personnel reviews and other administrative duties delayed from the beginning of the year.

this summer is different, on so many levels. the sunlight filters through your bedroom window a bit earlier, and these days, if you’re even driving to the office, the roads are strangely less crowded. the general mood is more tenuous, as we all speculate about the new normal.

most cpa firms will continue the same pattern of waiting until september to ramp up their go-to-market efforts. but two or three out of 10 firms will use this summer to get a head start to make up for lost opportunities, and revenue, caused by the covid crisis.

pro member exclusive

how to plan today for success tomorrow

five essential elements for effective planning and budgeting.

by bill penczak

ah, summer is finally here: baseball is back (sort of). the weather is getting hotter (although because i live in texas it’s sometimes difficult to tell). the kids are looking forward to school (albeit more “in” school than “at”).

and cpa firms are gearing up for partner retreats and 2022 strategic planning…

but most strategic plans are neither strategic nor plans. they are more likely to be a compilation of to-do lists and wishful thinking, as firms stumble through the planning process and return to their day jobs as soon as the planning session is complete, with most topics forgotten or relegated to the “we’ll look at that later” category.

here’s what you’re looking for: bill penczak