strategy

the client of the future

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the five mega-trends that will make or break your “firm of the future.”

by hitendra patil
accountaneur

your client of the future will be vastly different from your client of now. you won’t have a firm of the future without understanding the new breed of client.

more accountaneur: the rise of the robot accountant: opportunity or threat?  |  six never-before opportunities for the accounting profession  |  urgently required: a new definition of accounting  |  卡塔尔世界杯常规比赛时间 author named top 10 to follow on social media in 2018  |  you cannot prove your value  |  certified blockchain accountant: from cpa to cba  |  who wants to be a comptometrist?  |  blockchain: questions are the answer  |  the 7 experiences millennials want from your firm  |  is blockchain an extinction event for accountants?  |  is blockchain a cloud killer?  |  22 ways blockchain will change the accounting profession forever  |

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like most accountants, you probably have faith that numbers tell a story. so, let’s look at some numbers and seven mega-trends that can help you get clarity about your client of the future. read more →

10 roles of an executive committee

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people seated in board room in near silhouetteplus who should serve and for how long.

by domenick j. esposito
8 steps to great

every small and midsized cpa firm requires an executive committee that serves as the key corporate governance mechanism within a firm.

more on strategic planning: how partners fail | ineffective management is hazardous to your firm’s health | profitability requires discipline | pitching vs. pursuing | the top 11 reasons cpa firm mergers fail | growth: the difference between the disruptor and the disrupted? | m&a: sometimes bigger is better | what a value proposition truly is (and isn’t)
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said simply, an effective executive committee keeps its nose in but its hands out. in other words, an effective executive committee has the responsibility to be the check and balance over a firm’s operations but isn’t responsible for running the day-to-day activities. that is the responsibility of the firm’s ceo and the firm’s operating or management committee.
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how partners fail

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midsection of businessman moving out with cardboard box from officeand why: the metrics every cpa needs to know.

by domenick j. esposito
8 steps to great

“status quo, you know, is latin for the mess we’re in.”

– ronald reagan

you have heard it many times before. worse yet, you are living it today.

more on strategic planning: ineffective management is hazardous to your firm’s health | why do we accept poor new business results? | the link between strategy and winning on value | focus on an enhanced client experience | 22 things leaders must do | 21 questions to help unlock accelerated growth | m&a candidates: valuations and vetting
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today, many small and midsized cpa firms are being challenged by slow organic growth coupled with:

  • an unprecedented pace of technological change
  • very intense margin pressure
  • too many competitors
  • a shortage of qualified talent (particularly in the tax area)

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mergers vs. clients: winners and losers

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as firms pursue m&a at any cost, who’s taking care of the clients?

2008-2017: two years of slowdowns in organic growth rates signal a bevy of underlying problems. (rosenberg survey)

by rick telberg
rosenberg survey

golden and loerzel: problems in merger strategies

the many challenges tax and accounting firms face today can be daunting:

  • accelerating changes in technology (now reaching beyond blockchain to the frontiers of artificial intelligence)
  • staffing shortages (not just a rarity of professionals but too few up to speed on regs and tech)
  • a new generation (young professionals who expect flex time, time off, telecommuting, fewer hours, and similar perks and benefits)
  • an old generation (baby boomer partners working more years but getting older nonetheless)
  • increased competition crossed with ever-evolving marketing media (a battlefield unknown to people trained only in accountancy)
  • the evolution of auditing (or is it an ongoing revolution?)
  • new client opportunities (maximizing potential of niches, it service, consultation, etc.)

practitioners in firms large and small are doing their best to meet the challenges, but meeting challenges can divert energy and effort from actually growing a business.

and merger mania may be to blame.

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tomorrow’s leader in 9 bullet points

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number 9 created by gaps between many small green plastic 9'sdon’t have them all? pick one and get started.

by august j. aquila
price it right

everything the firm does from this moment on flows from this decision, including the firm’s strategy, reputation, the ability to attract critical talent and how well it will execute its plans.

more: checklist: 18 essential steps to effective billing | 6 steps to making your new pricing happen | preparing to change pricing philosophy | ethical issues in pricing | how utility and value affect pricing | understanding the product pricing life cycle | 4 ways a production orientation can harm a firm
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

selecting the strongest rainmaker or the longest tenured partner, no matter how well liked, can quickly send the firm in the wrong direction if the candidate is underprepared or an inadequate leader.
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josh zweig’s liveca offers new thinking from the ground up

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how does your firm define itself?

by kayleigh padar
from success to significance: the radical cpa guide

josh zweig cpa ca lpa cofounder
zweig

josh zweig is the co-founder of liveca llp, a canadian chartered accounting firm of about 40 people that is run remotely, without a traditional office building. it’s all virtual – a work anywhere business. three years ago, the entire business was just a sole proprietorship; now it is bringing in millions of dollars of revenue.

more on radicalism: our clients need us to be radical | 10 steps to start innovating | the value of new ideas | the radical road to (business) transformation | the radical cpa: always changing
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the firm’s biggest challenge is recruitment. “for smaller firms that don’t have 20 college reps to go down to every school and recruit, it becomes increasingly hard to get word out that there is an alternative here for people,” zweig said.

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you cannot prove your value

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you can, however, help clients and prospects discover it.

by hitendra patil
accountaneur: the entrepreneurial accountant

you cannot prove your value to your clients (and prospects).

you can not.

more on entrepreneurial strategy: certified blockchain accountant: from cpa to cba | who wants to be a comptometrist? | is blockchain an extinction event for accountants? | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

they need to discover it themselves.

because value is perceived in their heads.
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