the entrepreneurial accountant

you don’t think technology helps get new clients?

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"good vs. evil in technology" illustration using laptopsturn “necessary evil” into “welcome angel.”

by hitendra patil

“new clients do not come to me because i have an accounting software and/or a tax software. they hire me because i am a cpa.” a small firm owner from los angeles recently expressed this, on the condition of anonymity.

does that summarize how accountants view technology spending? the new accounting firm operations and technology survey gives us a surprising insight into how primary technology purchasing decision-makers view technology spending.

more on entrepreneurial strategy: do you want a practice … or a business? | tax season management: multi-tasking is a myth | re-learning the lingo of the accounting business | top 10 entrepreneurial traits of successful accountants | six steps for a better tax season | 8 seconds into the future: meet generation z | get more done, make more money: stop doing these 17 things

key findings from this survey indicate:
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new survey results: ‘decisiveness’ rated top trait for success in accounting business

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keys to success surveyfirst insights from “how to succeed in the accounting business?” survey.

join the survey; get more answers.

by hitendra patil

although seven personality traits seem closely related to success as an entrepreneur in the tax and accounting business, the vast majority of accountants believe that one stands above all the rest in importance: decisiveness.

preliminary new findings from a 卡塔尔世界杯常规比赛时间 survey of more than 300 accountants, more than 80 percent of them owners or ceos of their firms, shows that the biggest success factors are not just knowledge, not just experience, not just problem-solving ability, and not just vision.

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need more business? focus on referrals

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sandi leyva and michelle long
leyva and long

a quick spreadsheet can show you where your money comes from now – and the best next targets.

by sandi leyva and michelle long
the ultimate accounting virtual conference

for those who need more business, boosting referrals is the cheapest way. so when we start to look at our marketing from a strategic standpoint, referrals is the channel we want to maximize.

if you’re thinking, “okay, how do i lower mymarketing cost? is that even an option? we spend a lot of time lowering our other expenses so why not lower our marketing costs?

there is an order on how to use marketing based on what is the most effective for professional services, and referrals is one of the cheapest ways we can add additional new clients without spending a lot of money on marketing.

start with a spreadsheet

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3 ways to get to ‘yes’ with prospects

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woman staring at watch in waiting areabonus checklists: checking first impressions, reducing risk, putting a face on your practice.

by sandi smith leyva
the accountant’s accelerator

change is hard on all of us, and there’s no exception when it comes to new customers taking a first step to do business with you.

the question is, how can you make it easier for clients to get through that change so that they will do business with you?

more on small-firm growth strategies: 5 cures for the summertime blues | design your business around your strengths | two daily rituals: focus and measure | 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 5 things you know that clients don’t | 8 must-haves for a prospect kit | how to work the same hours and make more money | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

the key is to be as approachable as possible, and here are some tips to do that. read more →

5 cures for the summertime blues

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sad businessman sitting at desk outdoors and looking straight aheadshift some of the heavy lifting to your lighter months.

by sandi smith leyva
the accountant’s accelerator

for some of you, summer can be a slow time in your business. if you do taxes, all the action is during busy season and in september if you have a lot of extensions. if you’re a bookkeeper, your busiest month is january. and if you do software consulting or training, it slows down in july and august.

more on small-firm growth strategies: design your business around your strengths | two daily rituals: focus and measure | 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 9 ways accountants throw away profits | 7 ways to get new revenue from old clients | 9 ways to increase sales through ‘power networking’ | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out!

if you have a good relationship with your clients, you might be able to move some of your busy season work to off season. and if you have clients who are ready to take advantage of new technologies, there are lots of opportunities in the cloud. here are five quick ideas to stir up some revenue in the slower summer months. read more →

design your business around your strengths

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young businesswoman painting strategythe 24 strengths all humans have – and how to make your top strengths work for you.

by sandi smith leyva
the accountant’s accelerator

most of us have an idea about what our character strengths are.

more on small-firm growth strategies: 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 3 tips for following up with prospects | if you don’t develop your business, who will? | draw new clients in like a magnet | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | 5 ways to turn a tough day into a great one | four ways to stop leaving money on the table

a few years back, a scientist named christopher peterson developed a global list of 24 strengths that all humans have.

these break down into the following six major categories: read more →

two daily rituals: focus and measure

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calm balanced businessman sitting outdoors on bench in yoga lotus pose meditating, with office building and blue sky in backgroundbonus checklists: 6 sample questions and 10 sample metrics.

by sandi smith leyva
the accountant’s accelerator

there’s something special about the word ritual. it sounds sacred, like you wouldn’t dare break it.

more on small-firm growth strategies: 5 cool ways to streamline data sharing | how to calculate your ‘opportunity number’ | 9 ways accountants throw away profits | 5 ways a deadline can help close a deal | 7 ways to get new revenue from old clients | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out!

it sounds a little mysterious, as if there’s a component you can’t quite control. and it sounds colorful, like something full of character that you would never get bored of.

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5 cool ways to streamline data sharing

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businessman using internet on smartphone and laptopclients and stakeholders benefit, and so do you.

by sandi smith leyva
the accountant’s accelerator

do you ever get any of the following questions from clients or co-workers?

  • i can’t find your email.
  • i accidentally deleted what you just sent me.
  • my computer crashed and i lost everything. (and i want you to take up your precious time to help me recreate everything you’ve ever sent me.)
  • i lost my tax return and i need it in the next five seconds.

more on small-firm growth strategies: 9 ways accountants throw away profits | 5 ways a deadline can help close a deal | 7 ways to get new revenue from old clients | 5 things you know that clients don’t | 3 ways to test your revenue forecast | how to work the same hours and make more money | take advantage of 4 key marketing strategies | four ways to stop leaving money on the table

these requests can get downright annoying. and they can be expensive, too. knowledge workers spend anywhere from 15 to 35 percent of their time searching for information. executives waste six weeks per year searching for lost documents. read more →

how to calculate your ‘opportunity number’

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money on one side of scales, watches on otherbonus checklist: 6 steps to get you there.

by sandi smith leyva
the accountant’s accelerator

every week, do you get wonderful, exciting calls from new clients who want to use your services? you might want to talk with every one of them to get the sale. the problem is, if you do, you’re likely to go bankrupt. let me explain.

more on small-firm growth strategies: 3 tips for following up with prospects | 9 ways accountants throw away profits | 5 ways a deadline can help close a deal | 7 ways to get new revenue from old clients | 9 ways to increase sales through ‘power networking’ | 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

each of us has 24 hours in one day. most of us have annual revenue goals. a few of us have monthly, weekly, daily or even hourly revenue goals. hopefully you know what your revenue goal is. (if not, you should!) if you don’t pull in that level of revenue for the week or month, then you’ve missed your plan.

let’s say you want to generate $1 million in sales for the year. on average, you need to pull in $20,000 a week. that’s $4,000 a day.

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3 tips for following up with prospects

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businesswoman talking on phoneit’s the key to 98 percent of your sales.

by sandi smith leyva

it seems there are hundreds of questions swirling around how to follow up with prospects.

more on small-firm growth strategies: 5 ways a deadline can help close a deal | if you don’t develop your business, who will? | 7 ways to get new revenue from old clients | draw new clients in like a magnet | 11 ways to add value for clients | 9 ways to increase sales through ‘power networking’ | 5 things you know that clients don’t | 3 ways to test your revenue forecast | 8 must-haves for a prospect kit | whip out the wow factor for clients | how to work the same hours and make more money

the raw truth is that very few people follow up at all. on average, only 2 percent of people buy on the first contact with a vendor.

so if you’re not following up, you’re walking away from 98 percent of your sales.

here are my tips to maximize sales and take the pain out of following up: read more →

why even the best and biggest cpa firms are losing their best and brightest talent

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despite paying top dollar for top talent, old-line firms are losing gen y staffers with bigger ambitions.

derek davis, the shared economy cpa, talks about launching the first app-first cpa firm

by rick telberg
卡塔尔世界杯常规比赛时间 research

with cpa firms locked in a battle for top-level talent, wages are advancing at record rates in desperate efforts to both retain and recruit highly-prized professionals, according to 卡塔尔世界杯常规比赛时间 research.

partners and staffers alike, feeling stifled and underused at their current firms, are finding a broad array of new opportunities at other firms. and where they can’t find the right position at another firm, they are creating their own.

los angeles cpa derek davis, for example, left a career at a big four firm to start his own practice. but his first hire wasn’t an assistant. and his first partner wasn’t another cpa. instead, davis teamed with a software designer. and they didn’t open an office, they launched an iphone app.

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9 ways accountants throw away profits

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$50 bills in a wastebasketchecklist, plus how to fix your billing habits to compensate.

by sandi smith leyva
the accountant’s accelerator

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more on small-firm growth strategies: 5 ways a deadline can help close a deal | if you don’t develop your business, who will? | 7 ways to get new revenue from old clients | draw new clients in like a magnet | 11 ways to add value for clients | 5 things you know that clients don’t | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out!

here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.

read more →