client service opportunities

ceos don’t always know numbers

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numbers floating around man examining calculator with magnifying glassit’s worth your time to ask about what they do know.

by ed mendlowitz
call me before you do anything: the art of accounting

one time i had a client who became his company’s ceo. this was a public company and i knew him as well as i could know someone whose tax returns i prepared and met with two or three times a year and spoke to over the phone another two or three times a year.

more: wealth is a state of mind | one hour a year since 1972 | 50 ways to make more money in busy season | 20 good ways to boost tax season production | why annual staff evaluations fall short
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at one meeting i asked him how he spent his days and how he managed the transition to ceo.
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gary cokins: the truth about activity-based costing

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how to implement progressive management accounting techniques.

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with steven sacks
the new fundamentals: thriving in disruption

management finance expert gary cokins says there’s nothing wrong with activity-based costing. except that you’re probably doing it all wrong.

more gary cokins: the myths of performance management

more steven sacks: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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the problem is, cokins says, it’s convenient for the accountants to allocate the overhead based on allocation factors, like labor hours, number of units produced in a manufacturer, headcount, number of employees, and square feet, even though none of them reflect the unique consumption relationship between how the outputs products and services consumed.

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what do clients really want?

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think about how well you know their aspirations.

by gary bolinger

most cpas believe that they have the answers to clients’ most pressing questions, but often miss the mark on what clients really want.

more: how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
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we think they want advice on how to:

  • make more money
  • establish a successful business
  • gain more customers or clients

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wealth is a state of mind

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businessman holding two papers with happy and angry face each on themtwo clients, one rich and one poor.

by ed mendlowitz
call me before you do anything: the art of accounting

some time ago i had breakfast with a client who was not able to make ends meet but was fortunate to have his brother-in-law send him monthly checks so he and his wife could get by without any pressure.

more: one hour a year since 1972 | finding new business in sustainability | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control | advice to new accountants | clients don’t lose sleep for overpaying taxes | when time-based pricing works
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i had a very pleasant time talking with him and he was a truly happy and content man. it was a pleasure to be with him.
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one hour a year since 1972

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digital visualization of a blue alarm clock“i love it when clients’ children call me.”

by ed mendlowitz
call me before you do anything: the art of accounting

one day i met with a client for one hour to get his tax information. this is a client i have had since 1972.

more: finding new business in sustainability | the six types of “impossible” clients | you’re not just taxes | granting unconventional request pays off | 20 best practices for staff training and retention
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at this point his tax return is much less complicated and he could easily mail in his info, but then we would forgo the meeting. we met when his lawyer introduced me to help negotiate his divorce. i got it done and in a way that he and his soon to be ex-wife did not fight and remained friends (to this day!). because of this i will never lose this client. we are truly in a great profession!
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james lopiccolo: sell service, not hours

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small firm attacks the big issues with novel strategies.

^ click to play video

with steven sacks
the new fundamentals: thriving in disruption

the accounting profession is “stuck in a rut,” says james n. lopiccolo, founder and managing member of capocore professional advisors, in lake orion, mich.

he says cpas can’t see “the challenges that are coming by from other non-cpa firms.”

more: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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lopiccolo’s answer is offering service agreements, instead of billing by the hour. risky? sometimes. but clients love it.

^ download and subscribe to the podcast on itunes here

in more than 31 years of public accounting, lopiccolo has worked in business advisory, tax, and accounting for a multitude of industries including contracting, manufacturing, medical, professional service companies, and real estate. he serves on the michigan cpa association executive committee and the finance committee, and he is a two-time chair of the aicpa small firm practitioners task force.

11 key takeaways:

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effective networking is an art

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four people meeting for business lunchlisten to learn … about the speaker and yourself.

by steven e. sacks
the new fundamentals: thriving in disruption

there is no one right way to effectively network. you can join boards, attend conferences and sign onto various electronic forums, among other ways. no matter how you decide to get yourself “out there,” the critical factor is the approach you take. “how may i help you?” is the positive, proactive way to establish a relationship.

more: avoid last-minute deal making | five common negotiating mistakes | reaching for authenticity in client service | deadlines? ha! don’t make me laugh | organizational change starts and ends with people | busyness isn’t the same as productivity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you as the networker are seeking to build a relationship. if the other person or group benefits from your effort, think of it as an investment for the future. if you are looking for an immediate quid pro quo, it will become transparent to the other party. when you offer assistance, be authentic and sincere in your words and actions. follow through on your promises.
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what to do with a lousy client?

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young businessman staring at laptop computer in officeexamine how you’re managing the relationship.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have a client that is a not-for-profit and they are having a dinner and expect me to attend as well as take an ad.

more: stop drowning in client documents | employee demands a raise she doesn’t deserve | how are you spending the next five years? | how to get the most from cpe | does your staff know all the services you provide? | price your practice by gross | advising estate executors: the newbie guide to getting started | how’s your overhead?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

however, they are a lousy client. they do not give us the requested information until the last minute and then complain we are always late with our report. they pay us months after the bill is sent and then only after quite a few phone calls, and then they complain about the fee being too high when it is half of our time charges – they are on a fixed fee and don’t let us raise it each year. and now they expect a “contribution.” what should i do?
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finding new business in sustainability

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green "opportunity" highway sign with sunrise backgroundwhy now is the time to invest in corporate sustainability and social responsibility reporting.

by ed mendlowitz
call me before you do anything: the art of accounting

my columns are autobiographical and some tell about things that happened decades ago – although they’re still relevant – and hopefully, there are takeaways you can benefit from.

more: the six types of “impossible” clients | 50 ways to make more money in busy season | 20 good ways to boost tax season production | why annual staff evaluations fall short | why create an accounting firm business model? | the clients that keep you awake at night | creating a cross-selling culture | cross-selling beyond your comfort zone
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this one is about something just starting to happen and presents an opportunity for you to get in on the ground floor of what could become a hot area for additional revenues. the overall topic has various names, two of which are sustainability and corporate social responsibility.
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the cpa’s best role: leveraging knowledge, not just process

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david bergstein says you’re wasting your time and your client’s money if you’re not focussing on the future.

with steven sacks
the new fundamentals: thriving in disruption

to be more competitive, cpas need to shift their focus from compliance service to process-oriented, value-added work, veteran cpa david bergstein tells 卡塔尔世界杯常规比赛时间. this means working with clients to understand their business operations, competition, and financial challenges, such as liquidity, solvency, and profitability.

more on value-add: how cas communications are different | how value billing eliminates guesswork | avoid last-minute deal making | how a great managing partner impacts firm growth | tax season client meetings: kill them now | do you give yourself too much credit? | the 17 rules for making partner at a cpa firm | family feud isn’t just a game show

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

see more 卡塔尔世界杯常规比赛时间 videos here | see more david bergstein here

^ download and subscribe to the podcast on itunes here

the key takeaways:

  • accountants need to switch their focus to look to the future and real-time accounting, which means that the right way of doing things these days is to take advantage of all technology and automation.
  • it’s a small and mid-size business that doesn’t have a bookkeeper, that doesn’t have an accountant, that doesn’t have a controller, that doesn’t have a cfo that looks to cpas to help them. cpas’ advantage is to use that technology to automate all those processes and then spend time selling value-added services.
  • today, to be successful as an accountant, you must identify what platform or platforms you’re going to use to capture your clients’ data at the source to move it through the system.
  • payroll tax processing services can be expanded by setting up the human resource tools that go with it. beyond processing payroll, cpas can find ways to get lower workman’s compensation; automate the onboarding of employees, and provide various benefit options.
  • as part of the de-emphasis on process, younger staff members don’t want to do vouchering anymore, which will be supplanted anyway by automation. so, it’s great for firms to offer more training opportunities to their younger staff regarding analytical thinking, selling, and how to consult with clients to find out what their needs are.

 

transcript

david bergstein, interviewed by steven sacks
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the six types of “impossible” clients

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not that there aren’t others.

by ed mendlowitz
call me before you do anything: the art of accounting

as a cpa, i deal with many types of clients’ personalities. if i chose only one type, i would not have had much of a practice. and i doubt i would have found that one perfect type too many times. i have been very fortunate to have really nice and very smart people as clients.

more: 50 ways to make more money in busy season | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control | advice to new accountants | clients don’t lose sleep for overpaying taxes | when time-based pricing works
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i believe entrepreneurs are the most stimulating people to work with. however, this doesn’t mean they don’t have peculiarities and that this sometimes makes them difficult to deal with – sometimes, but fortunately not most of the time.

here are six examples of types i had to put up with and had to learn to overlook some of the unfortunate traits.
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ask the right question(s)

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stack of cards labeled with question markswhat don’t you know you don’t know?

by gary bolinger

the most valued advisors spend a lot of time listening. they spend more time listening than they spend talking.  listening provides insights to enhance advisory services. of course, listening means that the advisor needs to spend time asking the right questions. questions are hard.

more: seven elements of engagement for cpas | true advisory work isn’t just consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if you are engaged with staff, any question you ask will be different than when meeting with a partner. and different yet again with clients and prospective clients.
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