bissett bullet: complacency breeds failure
today’s bissett bullet: low client attrition rates are not necessarily a barometer of great service.
by martin bissett
today's features
staffing tops list of woes at cpa firms
the irs comes in second, says the aicpa pcps.
via aicpa
finding qualified staff is the top issue for all categories of accounting firms except sole practitioners, according to a biennial survey by the american institute of cpas’ firm practice management section.
loren fogelman: stop undercharging and start being client-centered
stop letting your business and career “suck the life out of you.”
this video is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members. the podcast version will be available everywhere you get your podcasts.
the disruptors
with liz farr
loren fogelman is on a mission to help accountants and bookkeepers build businesses that “don’t suck the life out of you.” as fogelman says, “how much can you actually give up your personal life before it’s not sustainable any longer?”
more podcasts and videos: dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |
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according to fogelman, a keynote speaker and one of america’s top-ranked business coaches for business success solution, “at least 57% of firm owners are undercharging for their services.” she encourages professionals to double or even triple their fees, which frees up time so they can provide client-centered services and “go back to the gym or spend more time with your family or take that much-needed vacation.”
the highly-sought business coach has several methods her clients use to earn more, work less, and have more quality time for themselves.
four ways automation pushes the paradigm shift
everyone’s job is enhanced when you can automate wherever possible.
by jody padar
radical pricing – by the radical cpa
when you have three people in your firm, each doing things their own way, you won’t be able to standardize until you get them all on the same page. technology makes it easy to do that.
more: are you the key signal caller for your clients? | value pricing requires defining your clients | how value pricing impacts your employees | 6 steps to start value pricing | what are you selling? | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
technology is spurring innovation and driving automation – and that’s reshaping the future of accounting. automation is simply using technology to complete tasks that are typically done by humans, and it will help you standardize by providing:
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steve yoss, quick tech talk: a.i. automation tools for tax, accounting, and finance professionals
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quick tech talk
with steve yoss
cpe today
i’m a big proponent of artificial intelligence and automation. i think these tools are incredible for automating day-to-day tasks, making our lives simpler, faster, and easier, especially lower-value tasks that don’t need our time or focus on our resources.
in the hands of a professional who knows what they are looking at, these tools can do much of the pre-work and the pre-processing. however, it is up to us to ultimately know what we’re looking at to determine if the results are correct or incorrect. these tools can never assume responsibility or accountability for what they produce. in the same way, a self-driving car is not responsible for getting you from point a to point b; it is ultimately the person in the driver’s seat who assumes responsibility. as the financial professional, you’re in the driver’s seat, and you must ultimately be able to look at this information and interpret it for your client because they won’t trust the ai. they’re going to trust you. and so these tools can be incredibly helpful, but it’s up to you to know how to use them responsibly.
four key questions about leadership
think of it as an upward spiral.
by martin bissett
passport to partnership
unhappy and difficult clients help our firms to improve our client management skills and present opportunities to refine our leadership skills.
more: four key questions about leadership | does client perception match your firm’s reality? | firm not thriving? five fixes | five questions for grading prospects | health, wealth, stealth: challenges on the path to partnership | don’t let recurring fees kill your practice | rate your personal purpose | five ways to make selling easier | six keys to getting a proposal accepted | tell the world your worth
exclusively for pro members. log in here or 2022世界杯足球排名 today.
it is tough for us to build a successful firm without difficult clients or internal personnel issues in order to provide learning experiences for us to build a robust and commercially successful infrastructure.
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microsoft discovers a security flaw impacting android apps
beware: malicious apps could smuggle in dangerous code masquerading as regular files.
by rick richardson
technology this week
a recent bleeping computer report claims that microsoft has discovered a severe security flaw that might impact many android apps. this vulnerability, dubbed “dirty stream,” poses a significant risk because it might allow someone to take control of apps and steal essential user data.
more: fool’s gold may not be so foolish now | ai-engineered enzyme could be solution to plastic pollution | german researchers develop ev motor with no rare-earth magnets | educators can benefit from new generative ai course | ai named the highest-paying in-demand tech skill for 2024 | ai generates revolutionary new battery design | breakthrough implant uses excess blood sugar to generate electricity | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | study: solar will lead global energy by 2050
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the ability for malicious android apps to change and abuse android’s content provider system is at the core of the dirty stream vulnerability. usually, this technology enables safe data transfer between several apps on a device. it incorporates security measures such as stringent data isolation, applying rights linked to certain uris (uniform resource identifiers), and careful file path validation to prevent unwanted access.
know your three audit w’s
understanding all the nuances of the who, what, and when keeps your audit team on track.
by alan anderson, cpa
transforming audit for the future
taking the time to lay out a detailed who, what, and when plan for all audit staff assigned to an engagement will help ensure that fieldwork is successfully completed. as firms had to develop remote auditing processes in the covid-19 era, many have already been deploying this.
more: planning lays the foundation of audit relevance | how do we drive relevance in audit? | before the audit: more than just planning | are you correctly identifying the relevance intersection? | lack of relevance drives audit commoditization | five crucial attributes for successful audit leadership | traditional audits don’t deserve premium billing | four basic understandings every auditor must master
exclusively for pro members. log in here or 2022世界杯足球排名 today.
here are the details for understanding each of the three audit w’s to keep your audit process streamlined:
are you throwing away profits?
nine things to stop doing today.
by sandi leyva
the complete guide to marketing for tax & accounting firms
a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.
more: want to close a deal? set a deadline | how mindset affects your marketing | how to use chatgpt to create images | how to leverage chatgpt during this crazy tax season | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | eight steps to getting started with ai: a guide for tax professionals | how to weather any economic storm | leverage your strengths to beat stress | you don’t have a time problem | are you crossing off your business bucket list? | three money leaks and how to plug them
exclusively for pro members. log in here or 2022世界杯足球排名 today.
here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.
accounting arc: busting the big 4 myth
the realities and opportunities beyond big 4 firms.
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accounting arc
with donny shimamoto, liz mason, and byron patrick
center for accounting transformation
the latest episode of accounting arc, “busting the big 4 myth,” offers various perspectives on careers in accounting.
more: harper & co. cpas: the perspective of a non-accountant is imperative | menlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |
hosts donny shimamoto, cpa, citp, cgma; byron patrick, cpa, citp, cgma; and liz mason, cpa, share their unique experiences, challenging the notion that success in accounting is synonymous with working for one of the big four firms.
understand the 10 steps of the buying process
how to become a solution magician.
by august j. aquila
price it right: how to value accounting services
closing a business opportunity refers to the process of finalizing and securing an agreement with a prospective client. it involves bringing the negotiation or sales process to a successful conclusion and solidifying the commitment from both parties involved. the closing stage is critical because it marks the point where the decision to move forward with the opportunity is made, and the terms and conditions are agreed upon.
more: market technology services through workshops and training | 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
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closing an engagement requires that you not only understand the selling cycle, but also the buying process that clients and prospects go through every time they are deciding to purchase something from you or from someone else. if you want to close more new engagements, it’s important for you to fully understand this.
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accounting needs a ‘rethink’ not a ‘rebrand’
your value is in the knowledge you have and the relationships and trust you’ve built.
by seth fineberg
at large
the field of accounting, and being an accountant, is challenged on many sides – none more so than the very act of being an accountant. in short, given the demand for new services and the growth in automation for nearly all “tasks,” what does accounting or being an accountant mean anymore?
more: big change comes with deep reflection | three ways to raise the bar for your business | randy crabtree: stress management for overworked accountants | tax chat: eric green reveals the tax rep guide to tax season | it’s time to do the uncomfortable | three ways to improve next tax season | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously?
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let’s be clear: accounting’s literal and metaphorical face is, and needs to be, changing if it is to grow and thrive. this, however, isn’t necessarily a bad thing. but, as we well know, change is not easy or quick. what should encourage accounting professionals is that at this very moment in time, they have the ability to have a say in what accounting, and being an accountant, actually is and could be.
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bissett bullet: what’s your story?
today’s bissett bullet: “you need to be able to tell your story in a way that relates to potential future clients, either directly or via your marketing collateral.”
by martin bissett