strategy

cpa firm incomes gain 8% in new map survey

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annual growth rates (via the rosenberg survey)

firms gear up for advisory, grapple with retirements, and take aim at bigger competitors.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey

in the new 2019-2020 edition of the annual rosenberg map survey, the leading national benchmarking study for firms of all sizes, the average firm is growing at 7.7 percent, up from 7 percent in last year’s study and reversing a two-year decline.

meanwhile, organic growth, excluding mergers and acquisitions advanced to 5.9 percent from 4.3 percent, “proving that the accounting profession is really cultivating a focus on business development efforts,” according to the authors, led by charles hylan of the growth partnership and marc rosenberg of rosenberg associates, who founded the study 21 years ago, making it the longest-running such benchmarking project in the profession. (and available from 卡塔尔世界杯常规比赛时间 here.)

additional highlights of the new report include: read more →

let go of beliefs that hold you back

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are you letting some clients get in the way of true success?

by matt solomon

we’ve discussed the need for a clear process to help you price, sell and deliver your new advisory services for clients. when your process communicates the value you offer, you are on the brink of achieving major success.

more: reframe sales as communicating value | 3 keys to evolving your accounting practice
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there’s just one more step, and we’ve saved the best for last. the truth is, you can give the best advice in the world and have a fantastic sales process, but still not be able to fill your roster with high-quality clients.
read more →

keep your firm from biting the dust

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"sorry we're closed" sign hanging in windowchecklist: the 12 key objectives and 23 day-to-day responsibilities of successful managing partners.

by domenick j. esposito
8 steps to great

while there are lots of reasons why small and midsized cpa firms don’t realize their full potential – and, in some situations, fail or bite the dust – we have found that the downward spiral of a firm usually starts with the managing partner.

more on strategic planning: 6 ingredients for firm value | 4 ways to add $100,000 in new business fees every year | prune your firm: ‘rightsize’ managers and partners | ineffective management is hazardous to your firm’s health | profitability requires discipline | pitching vs. pursuing
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the managing partner is the heart and soul of any cpa firm – the shepherd, orchestra leader, or quarterback, if you prefer, of the partner group – who didn’t fully understand the key objectives and day-to-day responsibilities of his or her role, and therefore, failed to operate on all cylinders.

read more →

2019: m&a boom gone bust

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putney
putney

this is no time to sell for local firms. instead, it’s time to re-tool.

by rick telberg
the rosenberg national map survey

it has been said that when you buy a nice, old, colonial house, you’re buying somebody else’s problem.

more from the map survey: 2019: more focused training | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the same can be said for buying a cpa firm with no succession plan.

read more →

2019: how partner greed kills firms

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partners must take a hit to personal incomes to re-invest in their firms. or face obsolescence and slow death.

by rick telberg
the rosenberg national map study 

so far, profitability is way up. at the large firms (those with at least $20-million in annual billings), income per partner averages $635,000. the highest earners are pocketing about $1.2 million. even the lowest-paid partners average of $282,000. but how long can that go on?

more from the map survey: 2019: more focused training | 2019: expect more alliances | 2019 trends: client service changes | 2019: shifts in hiring & office space | 2019: firms grapple with change | staff policies improve, but not mentoring
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the always insightful and provocative allan koltin, of koltin consulting, warns: partners must invest in something besides themselves – if they want their firms to survive.
read more →

2019: buckle up for a bumpy road

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pro members: click here to get full article. or go pro here.

global trade wars, political winds buffet business.

by kayleigh padar
卡塔尔世界杯常规比赛时间

cpas should be prepared to help their clients navigate an increasingly unstable global economy and burgeoning challenges with technology, particularly cyber threats, according to a new global study of c-level executives.

more surveys & research: jobs report: 43,000 new hires  |  cpa wealth advisor survey  |  survey: clients rush for tcja answers  |  join the accounting firm and operations technology survey  |  mergers vs. clients: winners and losers  |

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

the annual study from atkearney shows a bumpy road ahead for global executives, from the effects of brexit to the increase in targeted fake news campaigns. read more →

we hear but do we really listen?

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smiling businessmen listening to young female during interview6 people not to be.

by steven e. sacks

do you ever find yourself speaking to someone and notice that they are battling you and their iphone? a quick glance here, a one- or two-word text response there.

more: the holy grail: finding the right talent | battling staff turnover | confronting leadership: not such a bad thing | the damocles sword of staff retention | does your board know its role? | can we please refer to accounting as a profession?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

unfortunately, it is the new normal – whether in business or in our personal lives. those of us who encountered different forms of technology tools and platforms during the second half of our careers still believe that effective interpersonal communication still counts for something. of course, in this era of uncivil discourse, speaking over one another has, too, become the new normal.
read more →

30 things dumb firms do

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businessman with his head on backwardstop consultants list the stupid stuff.

by rick telberg
the rosenberg survey

in the wealth of information in the 2018 rosenberg survey, the leading national compendium of financial and operating statistics for cpa firms, a host of consultants points out some of the things they see cpa firms doing right and wrong.

also: 29 things smart firms do
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here are some of the wrongs. read more →

6 ingredients for firm value

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man preparing bread for bakingshould you merge? what can you offer your people?

by domenick j. esposito
8 steps to great

i am often asked two questions by small and midsized cpa firms:

  • how do we create significant firm value?
  • if we can get there, should we sell or stay independent?

more on strategic planning: 4 ways to add $100,000 in new business fees every year | 8 steps to small firm survival | 10 roles of an executive committee | why do we accept poor new business results? | the link between strategy and winning on value
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the answers to these questions, of course, depend on a firm’s particular facts and circumstances and one size does not fit all. nevertheless, i am happy to share my perspective based on best practices.
read more →

how accountants can ride the artificial intelligence wave

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let machines crunch the data. you provide the insight.

by hitendra r. patil and eli fathi

you are already riding the ai wave to some extent because, most likely, your car has some ai built into it. you ride it to work. how about riding artificial intelligence at and in your work?

more on entrepreneurial strategy: automation makes it easier for accountants to offer cybersecurity | the why, what and how of cybersecurity for accountants  | the client of the future | urgently required: a new definition of accounting | is blockchain a cloud killer? | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms | 4 pillars of future firm foundation | do you want a practice … or a business? | 3 apps to automate business networking
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in today’s economic environment, it’s not enough to offer services in the same way that it’s always been done and hope that business will thrive. many accounting firms are embracing new technology, such as robotic process automation, cloud-based analytics and dashboards to offer a competitive edge but the industry has come to a crossroads. while these computer-assisted and rules-based tools are considered the norm, ai and machine learning solutions are driving the leading edge.
read more →