growth strategies

sandra wiley: staffing problem? check your culture

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whether it’s clients or talent, if you build a better business culture, you’ll get better results.

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with liz farr
the disruptors

as shareholder and president of boomer consulting, sandra wiley has been speaking with firm owners and leaders for nearly three decades and clearly sees the need for change in the profession.

“the business model that was built before cannot be the business model that you have going forward. it simply doesn’t work,” wiley said. “now, we’re still living in the old business model,” and we have to get out of it.

more podcasts and videos:  peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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

when she does exit interviews to find out why people are leaving a firm, she said they all say it’s because of the hours. they need to find more balance in their lives, and they need to work less. while accountants do have government-imposed deadlines for tax returns, there are ways to reduce hours, wiley explained. we can do extensions to spread the work out over time and people, and we can outsource. most importantly, we can be more selective in the clients we work with. “we don’t have to work with every client we’ve ever worked with,” wiley said. read more →

six questions before asking for all the referrals you deserve

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woman and man meeting in office; chart on his laptop screen

and how to approach your clients.

by august j. aquila
price it right: how to value accounting services

you would think that if you do a good job, you should get all the referrals you need. unfortunately, this is not always the case. sometimes, you must ask clients and referral sources for referrals. and many times, professionals just don’t know how to ask.

more: you only have four strategies | one question to guide your growth plans | five rules for a marketing orientation | the damage that traditional fee methods do | four ways to prepare for new business development | ten keys to marketing success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

before you set up that next meeting to ask a client for referrals, ask yourself the following types of questions:

  1. have i provided meaningful service to the client?

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how to offer conflict resolution

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smiling woman across the table from a couple it’s just another form of reconciliation.

by ed mendlowitz

this service puts the accountant in the role of a mediator attempting to resolve conflicts.

more on marketing: second opinions: an old service under a new label | elder care: not sexy, but vital | how to guide clients through divorce | help clients manage their investments | help heirs with tax issues | every client can use financial planning
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the accountant also serves as a facilitator to move things along to accomplish stated goals regarding financial issues.
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what clients don’t know about cost variances

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you want the best information possible.

by ed mendlowitz
77 ways to wow!

when we discuss estimates – trailing amounts based on previous transactions and costs, it is important to have the amounts as accurate as possible to reduce the variances, but they will exist.

more: why and how to track payroll costs | how to account for materials purchased | ten strategies for smart a/r collections | where is your firm in its lifecycle? | six kinds of loan covenants | what’s more profitable, raising or lowering prices? | insurance you might not know you need | solos need plans for death, disability | you don’t need this, but your survivors do
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the estimated costs will be measured at the end of a period, i.e., week, month, quarter or year, and the reasons should be investigated and reconciled.

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you only have four strategies

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businessman turning compass labeled "strategy" like a steering wheel

look at your service offering like a stock portfolio. any losers?

by august j. aquila
price it right: how to value accounting servic

can you ever spend too much time thinking strategically about your accounting and consulting practice? if you are like most professionals, you usually have outlined some goals. you know where you want to go.

more: one question to guide your growth plans | five rules for a marketing orientation | the damage that traditional fee methods do | four ways to prepare for new business development | ten keys to marketing success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the real question you must ask is this: “do you know the best way to get there?” in other words, “what’s your strategy?”
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second opinions: an old service under a new label

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two people sitting across from each other at a deskbonus: a sample engagement letter.

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

second opinions are just that – an outside look at a client’s business or personal situation.

more on marketing: elder care: not sexy, but vital | get your clients talking about retirement | how to assist investment clubs | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we used to call them second opinions and promoted them as such. we no longer do that, but offer this as a separate and distinct service or product such as we do for performance measurement services. we feel that the difference is how the service is marketed, not how it is performed for the client.
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be the flywheel to increase revenue

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“this will be the largest transfer of wealth the nation has ever seen in such a short period of time.”

by rory henry, cfp®, bfa

henry

rory henry is a director at arrowroot family office and host of the wealth management forward podcast. he can be reached to discuss ways to integrate financial planning into your practice through the cpa partnership program at (310) 566-5865 or at rory@arrowrootfamilyoffice.com.

the financial advice business is undergoing significant change, particularly in the accounting and wealth management sectors. the arrival of private equity firms, combined with the rise of m&a and rapid advancements in technology, has shifted the landscape considerably. while these changes are unsettling to some practitioners, i view them as opportunities.

more: four core principles for elite wealth management | why you need a team of experts | why a virtual family office? why now? | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in many ways, a cpa is a flywheel at the center of the financial advisory engine. all the other providers and advisors rotate around the cpa, and together they build momentum as the firm expands its offerings and as the advice engine gains speed and confidence.

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why and how to track payroll costs

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businesswoman using calculator while reviewing something on laptop screenbonus: nine specific illustrations.

by ed mendlowitz
77 ways to wow!

most business owners look at the total payroll in dollars and go no further. but – payroll numbers are useful only if you drill down several levels to determine …

more: how to account for materials purchased | how to advise clients on allocating business resources | be wary of discounting prices | where is your firm in its lifecycle? | six kinds of loan covenants | what’s more profitable, raising or lowering prices? | insurance you might not know you need | solos need plans for death, disability | you don’t need this, but your survivors do | five ways to ward off fraud in not-for-profits
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

head count

i tell clients to keep track every month of the total head count of the business – whether it’s three, 10 or 100 employees. on a year-to-year basis, the head count can be very revealing. first, it tells you whether employment is growing faster than you realized. second, by comparing head count with unit sales, you can measure worker productivity. if there is growth in units sold, your payroll is in good shape. if growth of units per employee declines, you have a problem that needs immediate attention.
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four simple game-changers to modernize your practice

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focus on the client experience.

by blake oliver
with david leary

my mom is in her 70s and still gets the taxes organized for her household. she’s been using the same 10-partner firm for the past 30 years. like many small firms, hers had no succession plan, so it recently merged with a big firm – top 25. as you may imagine, her recent tax season experience was disappointing. she submitted all her documents on time and then didn’t hear anything from her new accountant for weeks. finally, she received a return to review and was shocked to see herself marked down as blind. my mom is not blind. there were other errors in her return, including a missing real estate transaction. clearly, it had not gone through a proper review process.

more: nine ways to measure client experience | how the pandemic changed firm mindsets | twelve clues it’s time to outsource or offshore | yes, you have the staffing for cas | why firms shy away from cas | hook your firm on cas | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

my mind exploded, wondering how such a large, well-known firm didn’t have a better quality control process in place. i’m guessing they didn’t even have a workflow management solution. after sharing this story with several cpas at other large firms, i learned that my mom’s situation was not all that unusual.

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bissett bullet: being best > being better > being different

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today’s bissett bullet: why are our clients paying us to serve them? what do they receive from us that they can’t get elsewhere for a similar or better price?

by martin bissett

please don’t say service and partner-led attention. everyone says that. seriously, what do we deliver that our competitors do not? the secret sauce is not found in service lines or technology. it’s found in outcomes and impact.

there will always be a firm with a wider service offering, larger marketing budget, more resources and greater technology. so, let’s not try to compete on things many businesses don’t understand or care about.

today’s to-do:

your current clients, including those who have joined you recently, chose you and not the others. establish a consensus on why that is and you’ve found your differentiation.

see more bissett bullets here

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how to account for materials purchased

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businessman manager using tablet check and control for workers with modern trade warehouse global business commerce concept or import-export commercial logistic.take care when choosing the method you will be using. four illustrations.

by ed mendlowitz
77 ways to wow!

materials purchased are comprised of many elements in addition to the actual product purchased. following is an illustrative cost sheet that accumulates and calculates unit cost. usually, a large unit such as a case, skid or truckload would be measured and the per unit cost determined by dividing the total by the number of units. all costs are included.

more: how to advise clients on allocating business resources | use constraints to make improvements | the role of strategy in pricing | wow clients with trend analysis | 26 ways to wreck a financial projection | three ways to run a break-even analysis | price not always the top consideration in a sale | when an owner dies without a buy-sell agreement
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

cost sheets are maintained for every separate product or sku (stock keeping unit) and is a string of characters that uniquely identify a product or part with a separate sku for every item with a distinguishing difference such as size, color, material and packaging.
read more →

the disruptors: al anderson on the new manifesto for accountants

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change your firm or go extinct.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr

al anderson has been trying to change audit for nearly his entire career and has always been “willing to try things differently.” while he’s always loved auditing – and thinks to this day that auditing can be fun – what he didn’t love was “auditing by doing it the same way every year.” however, he sees far too many firms performing audits the same way they have for decades. anderson believes that “the firms that are unwilling to change eventually are going to be history.”

instant download: al anderson’s “the new manifesto for accountants.“

more podcasts and videos:  peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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

in an effort to combat the rising tide of commoditization of audit and assurance services, anderson has been teaching a revolutionary framework for audit leadership to auditors around the world and has now written a book (to be released later this year by 卡塔尔世界杯常规比赛时间) that describes the five attributes of this framework.

these five attributes include:

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unleashing the power of technology: transforming accountants into trusted advisors

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the smartest route to advisory:
join the survey. get the roadmap

imagine the possibilities.

by donny shimamoto, cpa, citp, cgma
the center for accounting transformation

in today’s rapidly evolving world, technology is revolutionizing the way we work and live. accountants and cpas are no exception.

more donny shimamoto:  how trusted advisors transform businesses | the future of accounting: a vision of trust, clarity, and hope | donny shimamoto: future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

we need to embrace the power of technology to enhance our services and better serve our clients as advisors. by leveraging technology and focusing on the complicated work that bots can’t do, accountants become trusted advisors, building deeper relationships and unlocking their full potential.

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