these lessons were learned the hard way in the magazine business. but they can apply to many, especially in these turbulent times. what is our purpose for existing? who is our target customer? why does anyone need what we’re selling? … continued
skip reardon says watch out, more change coming next year. here are his seven steps to preparing your organization for another bumpy year: create a commitment to change. engage the stakeholders. visualize the changed future. begin the transformation. embed the … continued
new survey by the credit research foundation shows business shifting focus from driving revenue to preserving cash flow. details: 90% report that the economy has had a direct negative effect on their business, up from 77% in november 2008 44% … continued
still, many cpas see a better year ahead. by rick telberg cpas appear to be headed into busy season 2010 with cautious optimism that this year will be better, or at least no worse, than last year’s, when the economy … continued
… while u.s. unemployment hits 26-year high of 10.2%. the accounting and bookkeeping sector of the economy gained jobs at a seasonally adjusted rate of 3,800 in october, according to today’s bureau of labor statistics report from the department of … continued
the number of new york-area professionals at the region’s top 25 accounting firms fell by 1,929 people, or 7%, versus year-earlier levels. the latest crain’s list of the 25 largest accounting firms in the new york metropolitan area shows the … continued
while u.s. economy loses 216,000 jobs and unemployment hits 9.7 percent. in today’s monthly employment situation data release, the bureau of labor statistics reported that total employment in the nation’s accounting and bookkeeping services sector climbed by a seasonally adjusted … continued
barry schimel, cpa and bizactions co-founder, has been there, done that. now he has some insight for the rest of us.
by rick telberg
in these turbulent times, it’s more important than ever for accountants and finance managers to go beyond traditional compliance services and think instead about forward-looking strategies for helping their companies and stakeholders become more effective and profitable.
barry schimel, cpa and a co-founder of the bizactions e-mail marketing system for accounting firms, has seen lots of ups and downs in his career, starting as the managing partner of a regional accounting firm a couple recessions ago. back in the 1980s, when schimel was managing partner of his own accounting firm, more than a few of his business clients were desperate. so he steered his whole firm into crisis control.
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“we would work with clients until midnight, coaching them on what they could do to sustain themselves and help them grow,” schimel told me. today, he tells accountants to focus on what can you do for the company tomorrow, instead of on what happened last year. “the opportunities are greater for a business if you can reverse the usual ways a cpa has been trained and think about the future instead of the past.”
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now on his fifth book, “100 ways to profit in a volatile economy,” schimel talked to me about what he has learned about how accountants and accounting firms can help companies through the recession. co-authored with bizactions colleague gary kravitz, the book offers a slew of proven and tested strategies that have been successfully implemented in numerous organizations, as well as new tactics based on provisions in the 2009 american recovery and reinvestment act.
what’s working today in cpa firm growth strategies?
by rick telberg
the recession may or may not be officially ending, but savvy cpas and accounting firms aren’t planning for a return to “the good old days.”
instead, smart accountants are retooling their skills and overhauling their offices for the next new economy. at general electric, for instance, jeff immelt, the ceo who was once ge’s cfo and an accounting standards wonk, is calling it “the reset economy.” some, like intuit ceo brad smith, prefer to call it the “new normal.”
whatever you call it, you can’t just cut costs, lay off people and expect a routine “post-recession” comeback. this new economic picture may be much different than any in a lifetime.
“it’s not just about cost-cutting” according to mike ramos, cpa and author of the first book in a new aicpa “practice forward ” series, ride the bear: strategies for cpa firms to thrive, survive, and grow in a down economy (ride the bear). ramos, a consultant to cpa firms, has written nine books, most recently the aicpa audit guide, assessing and responding to audit risk in a financial statement audit, an authoritative interpretation of the risk assessment standards. read more →
looking for career help? start local by rick telberg as if matt yuskewich wasn’t already busy enough running his own nine-person accounting firm, now he’s stepping up to become chairman of his state cpa society at a time when state … continued
confidence index jumps 5.7 points to 48.0.
huge market opportunity for cpas, consultants who can boost profits, efficiency. a new survey of 1,000 small business owners across the united states by management consulting firm george s. may international finds that 45 percent of respondents said their businesses … continued