today's features
pro member exclusive

lexar ssd expands storage for pro-level video

photo courtesy of https://ksglobal.lexar.com/

 

mobile filmmakers, it’s time to unleash your creativity without storage fears.

by rick richardson
technology this week

capturing 4k footage with an iphone might quickly use up a terabyte of storage. lexar’s new professional go portable ssd with hub offers up to 2 tb of additional storage. it also allows mobile filmmakers to capture prores video at 60 frames per second and provides a couple of extra usb-c connections for attaching other equipment.

more: five new google maps and waze features | new warehouse robot could revolutionize efficiency | recently discovered antibiotic spares ’good’ bacteria | ai displacing more jobs in banking than other sectors | google launches new private space feature | fool’s gold may not be so foolish now | educators can benefit from new generative ai course | chatgpt is getting humanlike memory
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several businesses have released ssd drives made explicitly for the iphone. these drives enable 60 frames per second of 4k prores video recording, which is limited to 30 frames per second when recording to the internal storage of the 15 pro and 15 pro max. lexar’s solution’s unique feature is its small size and matching usb-c hub, which ensures that the iphone can still be used with devices like handheld gimbals.

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innovation & change management

alan whitman: stop accepting the status quo | the disruptors

the firms that shift from billable hours to value outcomes will win. plus 10 key takeaways.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

the disruptors
with liz farr

alan whitman wants to break the mold of public accounting. he wants to end the billable hour and the siloed practices that characterize how many firms have operated for decades. as whitman says, “we’re here to serve clients, we’re here to deliver great value. but do we really need to do it the way we’ve been doing it since before my father was in the workforce?”

more podcasts and videos:  sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial | 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 | vimal bava: when working smarter, not harder, is the only option | 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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while “most firms believe that billable hours are the holy grail,” whitman points out that “the client isn’t necessarily buying billable hours.” instead, clients buy the outcomes and “the intellectual capital you’re delivering to them.” he believes that “the firm that can shift from production, from billable hours to outcomes, is going to win.”

as ceo of baker tilly, he pushed through changes that tripled the firm’s size and increased collaboration. like law, medicine, and architecture, accounting is a technician-based profession, and “most of your identity is based on what you do,” which can lead to siloes within a practice. but whitman argues that to deliver the appropriate solutions, “your responsibility is to not only deliver what you can deliver, it’s also to deliver what other people in the organization can deliver,” so the client is “getting what they need to prosper.”

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advisory & consulting

risky business: the art and science of startup company valuation

balancing metal balls

proven methods for staying out of trouble and getting the numbers right for founders, investors and regulators.

by anthony venette

valuing startup companies accurately has long been a challenge for legal, financial and regulatory professionals because data is scarce and projections are inherently speculative. take the recent case of hyde park venture partners fund iii l.p. v. fairxchange llc. this case has garnered significant attention as the delaware court of chancery was tasked with determining the fair value of fairxchange, a nascent company with a business model focused on revolutionizing the securities exchange landscape.

more: non-accountants in accounting: a game-changer for the profession | 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 | does firm culture still matter? | tax and accounting jobs and salaries show strength | tax law is driving practice development | olympics of outsourcing and offshoring for accountants
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valuing a startup is a nuanced exercise, often requiring a blend of creative thinking and rigorous financial analysis. unlike established businesses that have predictable cash flows and extensive financial histories, startups have uneven cash flow and minimal operating histories. so, their valuation is typically based on future potential rather than past performance. the lack of historical data forces both investors and courts to rely heavily on projections and assumptions, which can vary significantly based on the valuation method used. if you’re working with (or for) a fast-rising startup, you don’t want to be cavalier about the company’s valuation.
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management

innovation through wellness: you can’t grow without a “well” firm

“when we take good care of our people and ourselves, we can drive success at all levels.”

by adam herman
market leader, wipfli llp

herman

wellness is more than just a powerful tool for retention and recruiting—it’s one of the most critical issues for the accounting profession to tackle moving forward. it’s also a subject that i’ve been passionate about for many years.

so when i had the opportunity to participate in a panel discussion highlighting practical approaches to wellness at the allinial global executive team conference in may, i jumped at the chance to share ideas and experiences with fellow panelists demetrice branch, chief people officer at weaver, and mike giuli, cio at cherry bekaert.

our panel moderator, donny shimamoto, opened the discussion with an intriguing observation: innovation doesn’t always have to be driven by technology. wellness is a way for firms to innovate. keeping that in mind, we explored three different dimensions of wellness and how allinial global firms are incorporating these aspects into their wellness initiatives.

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resources & vendors

avalara names kevin sellers chief marketing officer

sellers

key appointment under new president ross tennenbaum.

avalara, a tax compliance automation software provider, has named kevin sellers as executive vice president and chief marketing officer, succeeding jay lee, who left in march to join icertis, an ai-powered contract intelligence company.

the cmo shift follows the ascension in april of ross tennenbaum from cfo to president under founder and ceo scott mcfarlane.

before avalara, sellers held cmo positions at ping identity and avnet and spent over 20 years at intel in various global marketing and investor relations leadership roles. he holds a bachelor’s degree in finance and an mba from brigham young university.

as avalara’s cmo, sellers is responsible for all marketing functions, including driving demand generation, digital marketing, brand identity, partner marketing, product marketing, prospect marketing, and corporate communications.

pro member exclusive

make work flexibility work for everyone

woman working on laptop at home while cat looks out nearby window

bonus: a sample flexible work arrangement policy.

by marc rosenberg
cpa firm staff: managing your #1 asset

this post originally by convergencecoaching, cofounded and led by jennifer wilson; updated by rosenberg associates

what is work flexibility?

convergence coaching uses the terms “anytime, anywhere work” and “work flexibility” very similarly. both refer to increased flexibility around timing and location, around one’s work schedule and the place where work is done, while simultaneously meeting the needs of its staff and the goals of the firm.

more: why staff leave cpa firms … and how to stop them | 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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“we like to give people the freedom to work where they want, safe in the knowledge that they have the drive and expertise to perform excellently, whether they (are) at their desk or in their kitchen. yours truly has never worked out of an office and never will.” – richard branson

“be stubborn about your goals and flexible about your methods.” – anonymous
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featured video

art werner: post-mortem estate planning | quick tax tip

it’s never too late.
listen, stream, download, and subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music and audible, player fm, and audacy.


quick tax tip
with art werner

so, ladies and gentlemen, what does post-mortem mean? you know, it means after death.

more art werner quick tax tips here

so, how can you do an estate plan after a person dies?

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marketing & sales

boost your value, boost your fees

person handing a folder to another person

can you leave behind a cheat sheet? a toy? it’s not silly if it works.

by sandi leyva
the complete guide to marketing for tax & accounting firm

want to charge more for your services? one way is to offer clients more value. your fees and your value to the client should go hand in hand.

more: three ways to make it easier for prospects to say yes | make your next busy season easier now | three ways to follow up with prospects | how mindset affects your marketing | twelve ways your business card can hurt you | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | how to weather any economic storm | ten ways to have more energy this tax season | seven steps to keeping your clients forever | give to receive, and eight more ways to boost sales | five things that clients don’t know about accountants
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here are nine ideas to increase your value to your clients:

1. offer a guarantee

you might feel like offering a guarantee is taking on a lot more risk than you’d like to, but this is a myth. when you offer a guarantee, you help to lower the perceived risk your client feels they might have when deciding to do business with you. this greatly increases the number of clients who will take that chance, even if they don’t know you very well yet. the surprising truth is that very few people will take the time to ask for a refund, making the increased sales far more valuable than the few returns you’ll need to process, if any.
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marketing & sales

seven ways that marketing helps you retain clients

woman reading something on computer screen

how connected to your firm do they feel?

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

if you have any doubts about marketing’s role in retaining clients, this post is for you. i will show you how marketing plays a crucial role in retaining clients by building and maintaining strong relationships, reinforcing trust, and demonstrating ongoing value. here are seven ways in which marketing contributes to client retention:

more: is pricing a marketing function? | develop your personal marketing plan in ten steps | what makes a great website? | four strategies for building your practice | market technology services through workshops and training | service quality: the key to client retention | calculate the cost of losing clients | the secrets of great business developers | dodge the four curses of a production orientation | client acquisition never stops | ‘sales’ is not a four-letter word | three types of marketing message, and which is best | five tips for cross-selling and upselling
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  1. communication and engagement: effective marketing ensures regular and meaningful communication with clients. it keeps them informed about the firm’s services, updates, industry trends and relevant insights. this engagement helps clients feel connected, valued and more likely to continue working with the firm.

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featured video

steve yoss: an accountant’s detailed guide on databases, integration, and data sharing | quick tech talk

data integration allows you to offer clients a 360 view of their businesses.

quick tech talk
with steve yoss
cpe today

what’s the primary purpose of accounting? it’s decision usefulness. we’re in the business of interpreting information in a way to help business leaders make decisions.

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

in today’s complex business environment, we’ve got data coming from all over the place: inventory, accounting, hr, payroll, and more. depending on your business, you can have upwards of 10 different systems inside your organization.

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2022年世界杯抽签

bissett bullet: what’s your bottom line?

today’s bissett bullet: “are you maximizing your profitability?”

by martin bissett

are you doing everything you can to leverage your profitability? outsourcing what has been described as “sausage factory work” such as annual returns has become mainstream in recent years, so in order to remain competitive without compromising your bottom line, it is important to make sure that you minimize the labor intensity of the work you carry out, where possible.

if that is not to be achieved by outsourcing low-fee labor, could you embrace practice technology to improve your efficiencies, instead?

today’s to-do:

where are you reducing labor intensity in your firm? what takes up the most of your time that could be delegated to a junior team member, expedited with investment in new technology or outsourced altogether? identify three ways in which you could increase profitability over the next 12 months.

see more bissett bullets here

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