seven lessons in competing effectively, starting with digital and social media marketing. by evelyn edwards, cpa evelynedwardscpa.com there is a war for new clients. but its always been my policy to never go down in my prices. it confuses the … continued
nine rules for tax season success, including: bartering services for ammo, if necessary.
by thomas avery blair, ea
tomblairea.com
i believe that in order for the registered tax preparer/licensed tax attorney, cpa and enrolled agent to remain in business now and in the future, there will have to be a resurgence in the attitudes of conventional and unconventional “personal service” to the individual tax client.
i bear witness to the fact that my own small tax practice now requires that more personal attention be given to the individual client. “one size fits all” simply won’t work. the tax code is growing ever more complex while the public’s education in federal taxation matters is waning.
here are some examples of what i mean:
1. my clients needed year around access to a notary public… so i became and now remain a commissioned notary public.
2. my clients needed cost-effective access to legal advice, especially over matters of wealth retention… so i fostered a business relationship with an attorney with a desire to have her own practice who had the precise skills my clients asked me to find for them. she gets free office space in my office three days a week by giving my tax clients $50 an hour discounted rates on initial consultations in the “off season.”
how the best firms grow in tough times. by david bergstein cpa, citp director of strategic relationships, cch cch intelligent solutions blog the best firms are rewarding staff — all staff — for bringing in new clients and new revenue, … continued
clients want to see niche-focused expertise and a heavy marketing spend.
by joel sinkin
accounting transition advisors
we see two tactics being used by the best firms.
due to the competitive environment and the flat economy, acquisitions of other practices is a primary growth strategy for many firms today.
but, to spur organic growth, most of the best firms are targeting their marketing and service offerings at specialized target audiences either through industry or service niche offerings. read more →
winning new business is a team sport. spectators need not apply.
by gale crosley, cpa
crosley+company
the best firms are involved in the relentless pursuit of creating a firm-wide growth culture. read more →
break out of the compliance commodity trap.
by randy johnston
accounting firm operations and technology survey
the best firms are offering new services packaged at flat rates.
for example, performing bookkeeping/write-up services for $2,000 to $3,000 per month and including the tax returns, or picking a specialty service or niche and wrapping a set of services around that.
all marketing in these firms has the same focus: read more →
and are they ever coming back? a seismic shift is shaking the accounting profession: an acute and worsening shortage of clients. a sluggish economy has knocked a lot of traditional clients — individuals and business alike — to the wayside. … continued
what’s your best advice for winning the battle for new clients?
by august aquila
aquila global advisors
today’s economic environment poses unique problems for cpa firms that want to bring in new clients. there is no single solution to growth in the present situation. firms must look at multiple ways to bring in more business.
the three main strategies that firms must embrace, which are not mutually exclusive, are:
1. growth through acquisition/merger
2. improve client retention
3. bring in new clients
client retention falls to winning new business as top issue for firms.
in a signal that the competitive wars among cpa firms have only just begun, a new survey of practitioners shows client retention and even revenue growth are taking a backseat to a desperate grab for new clients.
adding new clients ranks no. 1 for firms employing 2 to 5, 6 to 10 and 11 to 20 professionals, according to the 2011 aicpa private companies practice section’s cpa firm top issues survey, last issued in 2009. read more →
clients report little change to their external audit fees in 2010.
publicly held companies surveyed this year paid on average $3.3 million in total audit fees for fiscal year 2010, which represented an increase of 2% from the audit fees that these same respondents paid for the prior fiscal year audit, according to the financial executives research foundation, an affiliate of financial executives international.
no economic slowdown has been as bad for jobs as this one. the big red line is the current employment recession. nothing in the last 63 years has been as painful or as prolonged for american workers. the good news? … continued
principles of accounting remain unchanged, but…
by dustin lubertazzi,
senior consultant, sageworks, inc.
luca pacioli, an italian mathematician and franciscan friar, is widely known as the “father of accounting” for publishing 36 chapters on the double-entry accounting method used by venetian merchants during the italian renaissance. his book, summa de arithmetica, geometria, proportioni et proportionalita (which translates, “everything about arithmetic, geometry and proportion”), was written as a textbook for students in northern italy at the end of the 15th century. pacioli’s documentation of double-entry accounting and ledgers taught entrepreneurs of the day how to conduct business using timely and accurate financial information, and it established the fundamentals of accounting still practiced today.
pacioli’s fundamentals were only feasible thanks to the written numeral system and the abacus developed before that. and since then, the industry has seen further and more ground-breaking developments including the introduction of the typewriter, then computers, and later the internet. with each of these milestones, technology not only impacted how accountants handle financial information but also how they interact with their clients.
with the changing technological landscape, what must accountants do to stay competitive in the future, and how will technology change the future role of the accountant?
there’s a buzz this tax season about a deepening divide between high performing firms and the rest of the profession — interestingly: especially among soloists.
some solo practitioners are having a terrific season, others not. there’s no in-between. we’ve been wondering about the causes. and practitioners have been answering.
— rick telberg