bissett bullet: what’s your bottom line?
today’s bissett bullet: “are you maximizing your profitability?”
by martin bissett
today's features
which clients should you scope?
the process should align you with the client on the value and which services will be delivered.
by jody padar
radical pricing – by the radical cpa
scoping is a time commitment, so know that the client is worth the commitment and they have the revenue to back it. start by setting a minimum price point you will charge for the assessment process. if the client falls below your threshold price point, it doesn’t mean you’re not going to scope them, it just means the process will be less complex and can probably be done within an hour.
more: perfecting the client needs assessment | four steps to scoping for alignment … and the #1 rule to remember | here’s how profit sharing improves your firm | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
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for smaller clients, it helps the process if they arrive at the assessment with all the necessary information. you can look at their quickbooks data and tax returns to get a strong sense of what they need and how long it will take to deliver. scoping a small, straightforward client will become second nature with time. but be careful about being too casual when scoping smaller clients. if you miscalculate, you are still opening your firm up to risk.
non-accountants in accounting: a game-changer for the profession | accounting arc
with the growing focus on advisory services, non-accountants are helping accounting firms offer their clients a broader range of expertise.
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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
non-accountants are playing a pivotal role in the evolution of the accounting industry, bringing specialized expertise and fresh perspectives that are transforming traditional accounting firms into comprehensive business services providers.
more: rubik yeriazarian: smaller firms offer big opportunities for rapid skill development in forensic accounting | accounting arc | ai will steal your job. and that’s a good thing | accounting arc | the right kind of lazy: innovative approaches to streamlining workflows | accounting arc
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the accounting profession has long been associated with meticulous number-crunching and financial analysis. however, in a recent episode of accounting arc, the hosts reveal a different narrative—one where non-accountants are integral to the industry’s future. donny shimamoto, cpa.citp, cgma, along with fellow professionals byron patrick, cpa.citp, cgma; and liz mason, cpa, delve into this topic, exploring how non-accountants are reshaping the accounting landscape.
how to attract clients
focus on their needs, not yours.
by martin bissett
business development on a budget
let’s start with two simple definitions to avoid any confusion:
- the purpose of marketing is to create the opportunity.
- the purpose of business development (sales) is to convert that opportunity into a paying client.
more: four reasons accountants struggle with selling | think of it as service, not selling | stop waiting for business to come to you | afive questions to help forecast your firm growth | four key questions about leadership | does client perception match your firm’s reality? | showing leadership through customer service | firm not thriving? five fixes | the real math behind the sales pipeline | five questions for grading prospects | be clear about your roi proposition | keep business development going during busy season | don’t let recurring fees kill your practice
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when we meet with prospective clients – and i say this as someone who has sat in on many hundreds of meetings of this nature – we rarely give potential clients a reason to buy from us that they care about.
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five new google maps and waze features
finding your way – and avoiding traffic tickets – will soon be much easier.
by rick richardson
technology this week
it’s much simpler to avoid traffic when you use google maps and waze, whether you’re using them for a road trip or your regular commute to work. five new features have made both apps even better, including one that alerts you to traffic that may affect you even if you’re not in that location.
more technology this week: new warehouse robot could revolutionize efficiency | new pacemaker powered by light, no batteries | is nasa about to make air travel cheaper? | your brain can store 10 times more than anyone thought | microsoft discovers a security flaw impacting android apps | ai-engineered enzyme could be solution to plastic pollution | ai named the highest-paying in-demand tech skill for 2024 | lenovo readies new thinkbook laptop with a transparent display | microsoft moves further into nuclear development with new director
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here’s what’s new:
sean duncan: discover your own genius | the disruptors
there aren’t enough of us to help everyone who needs our help.
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members.
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the disruptors
with liz farr
what would work look like if it reflected your passions? “imagine,” says sean duncan, cpa, “if you worked with the people that you loved working with, talking about the things that you love talking about, and you made a living and helped them?” as duncan says, “that’s just freakin’ awesome!”
more podcasts and videos: caleb jenkins: firm growth requires owners to shift roles | chris hervochon: be the leader you want to work for | ira rosenbloom: don’t merge for the money | adam lean: get out of the accountant’s trap | geraldine carter: charging more is better for your clients |
duncan was working at a large regional firm back in 2006 when he noticed that many small business clients were asking him for advice, but they couldn’t afford the fees of a large firm. so he started his firm out of “kind of this gut feel” of wanting to help those small business clients. over the years, his firm, smd consulting and accounting, has developed a specialty in working with video game developers, a special passion of duncan’s.
ask not what ai can do for you, ask what you can do for ai
four actions to take now.
by 卡塔尔世界杯常规比赛时间 research
the potentials and requirements of artificial intelligence are still a massive unknown. so far, we’re getting only a distant whiff of what’s to come.
yes, ai is already serving us with doing research, composing letters, filling in blanks and taking best guesses. but turning it into a multifunctional workhorse is still a workhorse in progress.
more: allison schlegelmilch: leadership lessons from firm mergers | cas can play a critical role in clients’ vendor selection | artificial intelligence: it’s a matter of time | ai will steal your job. and that’s a good thing | allan koltin: how small firms can thrive against pe-powered competitors | the power of community in accounting | desperate cfos are outsourcing accounting functions | tax and accounting jobs and salaries show strength | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries
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while the ubertechies are working on that, the rest of us should be figuring out how we have to change to accommodate ai, to avoid its pitfalls and make best use of its potential.
read more →
who to hire when it’s time to grow
management and review still will be needed.
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: a cpa sole practitioner with a few part-time staff told me that he has come to realize that he no longer had a practice, but a business, and wanted to hire a person for “growth,” not just someone to help him get through the day.
more: hourly billing doesn’t cover the value; now what? | ask for what you’re worth | two options for collecting past due fees | when board service gets tricky | eleven ways new staffers can help bring in business | busy season is over, so it’s time for some resolutions | want to merge? six steps to take | how to start providing family office services | every accounting firm needs quality control
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he wanted some suggestions of what type of person he should hire. read more →
how to upgrade c and d clients
use relationship building and a little bit of detective work.
by alan anderson, cpa
transforming audit for the future
ideally, if you’re practicing business-mindedness, you only keep the a and b clients. if a client is below that level, you must consider whether that client is salvageable. if the answer is no, you need to exit the relationship.
more: eleven types of audit clients and which to fire | don’t risk losing good employees for bad clients | four questions to make your firm more successful as a business | say adios to audit fee pressure | deliver more audit value by getting out of the conference room | six essential elements in audit planning | before the audit: more than just planning | five crucial attributes for successful audit leadership | put the ethics code to work for your clients and your firm | is audit in crisis because of definitions?
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for c and d clients, you want to try to grow them into a or b clients by developing a relationship with them. if they don’t reach that level within three years, they can be passed off to another firm. there’s always more than enough work to go around with a and b clients.
is pricing a marketing function?
ten steps to designing your pricing strategy.
by august j. aquila
price it right: how to value accounting services
yes, pricing is indeed a fundamental marketing function. it plays a crucial role in determining the value of a product or service in the eyes of customers and has a direct impact on a company’s profitability and market positioning. pricing decisions are typically made based on various factors such as production costs, competition, target market, positioning strategy and customer perceptions of value.
more: develop your personal marketing plan in ten steps | five ways to make partners fall in love with marketing | losing can help you win more | eight areas to cover for personal goals | service quality: the key to client retention | how life cycle changes your marketing | clients buy solutions, not features | make sure you know what you will get from your marketing | three pillars support a successful accounting firm | clients have six reasons for needing you | six ways to market your technology consulting practice | sixteen marketing activities to try
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here are a few reasons why pricing is considered a marketing function:
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allison schlegelmilch: leadership lessons from firm mergers | capstone conversations
capstone conversations
informal and informative discussions with leading growth strategists from the nation’s most dynamic cpa firms.
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with jean caragher
for 卡塔尔世界杯常规比赛时间
i was delighted to have a capstone conversation with allison schlegelmilch, director of marketing at rkl llp and an association for accounting marketing marketer of the year.
follow jean caragher on 卡塔尔世界杯常规比赛时间 here. | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | catch jean caragher every friuday with gear up for growth here |
why was allison named marketer of the year? well, let me give you an idea. read more →
why staff leave cpa firms… and how to keep them
the 14 top reasons they depart, plus insights from young employees.
by marc rosenberg
cpa firm staff: managing your #1 asset
the following data is from recent rosenberg surveys.
more: how to solve the big disconnect in talent management | what relevance means for staffing in accounting | how accounting staffing has changed
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steve yoss: advanced data visualization techniques in excel | quick tech talk
bring complex financial data to life with advanced visualization techniques.
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quick tech talk
with steve yoss
cpe today
have you ever checked out microsoft power bi? it’s microsoft’s business intelligence and visualization tool. it can take any type of structured and digital data and turn it into beautiful interactive dashboards.
more steve voss | more tech | more podcasts
it’s difficult for most non-accounting folks to read a balance sheet or make sense of a cash flow statement. what’s beautiful about tools like power bi or tableau is that they can take your financial data, bring it to life, and allow decision-makers to get the information they need in the way that they want to receive it.