the entrepreneurial accountant

4 pillars of future firm foundation

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illustration of gears turning in braincpa firms can learn from google.

by hitendra patil

in what cpa firms could learn from google’s alphabet, we identified 13 lessons cpa firms can learn in strategy and innovation from google’s founders.

ever since google created alphabet, researchers have been analyzing the possibilities. in a recent mit technology review, author joel gertner discussed what will alphabet be when it grows up?. in this discussion, in addition to identifying the most important key to alphabet’s future success, reference is also made to the 11-year-old document that was part of google’s ipo. the insights from the mit review are applicable for not just technology businesses; the accounting profession can also draw parallels from them. here they are:

more on entrepreneurial strategy: ‘uberizing’ means more than technology | you don’t think technology helps get new clients? | do you want a practice … or a business? | tax season management: multi-tasking is a myth | 3 apps to automate business networking | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | re-learning the lingo of the accounting business | how the “1099 economy” will transform accounting | 10 things that accountants didn’t worry about 10 years ago | as block and liberty add accounting services, independents face 3 options

cpa firm success requires an effective commercialization strategy.
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‘uberizing’ means more than technology

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portrait of man in his car looking at camerago beyond what your clients might expect.

by hitendra patil

when did you last buy new software for accounting, tax preparation, practice management, sales tax calculation or payroll processing?

more on entrepreneurial strategy: you don’t think technology helps get new clients? | do you want a practice … or a business? | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | what cpa firms could learn from google’s alphabet | what if accounting firms were ‘apps?’ | top 10 entrepreneurial traits of successful accountants

think for a moment: how did you arrive at the decision to buy the new software? what did you think before buying?
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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 →