sales

practice doctor q&a: how to get started in family office services

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ed mendlowitz cpa the practice doctor q and aincluding a sample engagement letter.

question: some of my clients are getting older and are becoming unable to handle their own financial affairs and i have been asked if i could assist them.  what is involved and how do i charge for it?

ed mendlowitz, vpa, pfs, abv, responds: many large firms provide “family office” services.  this is a complete one stop financial service that helps clients manage their money, pay their bills, collect their dividends and interest, and make sure insurance isn’t cancelled, mortgage, car lease or condo fee payments aren’t skipped, and tax payments paid on time.

more from ed: seven ways to increase fees in 2013 | 10 best practices for tax season  | nine healthy things to do during tax season  |  12 reasons to love tax season | free instant download: sample fee schedule for 1040s | ask the geek: a couple great gadgets for saving money on all your other gadgets | three and a half ways to get your own cpa practice |  also: “implementing fee increases” and “the tax season opportunity guide.”

following is a sample engagement letter that i use with clients needing such services. also, this letter provides a detailed description of what the service involves. read more →

six ways to stay positive in 2013

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how to remain on track despite setbacks and detours.

nick keseric
nick keseric

by nick keseric

is there a change? is the economy showing some slight signs of getting a little bit better and stronger? is it the beginning of a new year that brings new hopes?

i actually believe that some of those frowns that people have been wearing for years are beginning to be turned upside down a little more these days. do i dare say it, but are we becoming more positive? read more →

accountants, do you know your opportunity number?

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the pragmatic six-step way to evaluate potential new clients.

by sandi smith, cpa
accountant’s accelerator

every week, do you get wonderful, exciting calls from new clients who want to use your services? you might want to talk with every one of them to get the sale. the problem is, if you do, you’re likely to go bankrupt. let me explain.

sandi smith

more for soloists and small firms from at 卡塔尔世界杯常规比赛时间:  five ideas to reduce client price-sensitivity • rise to the top with a fresh elevator speech  •  four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients •  the success secrets women already know  • his and her brains at work in tax and accounting  • the power of deadlines in closing a deal • on the road to a stress-free life: identify your character strengths • the missing ingredient in your marketing that will make all the difference  •

each of us has 24 hours in one day. most of us have annual revenue goals. a few of us have monthly, weekly, daily, or even hourly revenue goals. hopefully you know what your revenue goal is. (if not, you should!) if you don’t pull in that level of revenue for the week or month, then you’ve missed your plan.

let’s say you want to generate $1 million in sales for the year. on average, you need to pull in $20,000a week. that’s $4,000 a day. read more →

rise to the top with a fresh elevator speech

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3 tips for a powerful pitch.

by sandi smith, cpa
accountant’s accelerator

an elevator speech is that short and sweet 30-second answer to the question “what do you do?” in networking circles, it’s critical that your elevator speech is clear and interesting. if it’s not, people will be confused, and no one who is confused will know how to refer you to others.

sandi smith

more for soloists and small firms from at 卡塔尔世界杯常规比赛时间:  four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients •  the success secrets women already know  • his and her brains at work in tax and accounting  • the power of deadlines in closing a deal • on the road to a stress-free life: identify your character strengths • the missing ingredient in your marketing that will make all the difference  • 3 steps to start running on millionaire time  • 5 mistakes to avoid when seeking new clients • why you’re missing out on 98% of your new business potential • how to win new clients with a freebie strategy  • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients• five things accountants take for granted that costs them revenue • what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

the typical networker recites their elevator speech by listing everything they do. for example, i recently heard an insurance agent say, “we insure your auto, car, home, life, …” well, i heard part of it. she listed a dozen more things – the kitchen sink may have been in there – and i bet some of those services haven’t been sold in years. read more →

seven steps to leverage the power of positivity in your firm, your career and your life

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success comes to those who go out and find it.

by nick keseric

so what’s wrong in being upbeat and positive? nothing at all. this is not about rose colored glasses.

nick keseric
nick keseric

more on the entrepreneurial accountant:  nine bridges to cross in business development for accounting firms  | if business development is a circus at your firm…   |  my attitude??? what’s wrong with my @#$%! attitude?  |  curious minds want to know: are you helping or selling?  |  the six-step roadmap for cpa change agents  |  20 biz dev ideas for your career and your firm  |

given today’s world, if you are waiting for good things to happen to you, you better get a comfortable chair because that train isn’t coming towards you. success comes from effort. our own individual effort. and having a positive attitude and being upbeat plays a huge role in obtaining success.

this has as much to do with us as individuals as it does about us as a profession. the professionals in accounting are among of the most respected of all the professions. given that foundation, how we deal with others can only enhance an already proud and powerful profession.

read more →

four ways to practice entrepreneurial perseverance

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how to change your thinking to prevail over the toughest of circumstances

perseverance is a skill that anyone can learn to not only survive, but thrive through life’s curves. when adversity strikes, it’s not what happens to you but how you respond to what happens to you that has the greatest impact on your life.

more for soloists and small firms: how to win new clients with a freebie strategy  • the success secrets women already know  •    why you’re missing out on 98% of your new business potential  •  the missing ingredient in your marketing that will make all the difference • 3 steps to start running on millionaire time  •  on the road to a stress-free life: identify your character strengths   •  the power of deadlines in closing a deal   •   his and her brains at work in tax and accounting • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make •

here are four specific ways you can change your thinking to persevere in the toughest of circumstances, from sandi smith, cpa, “the accountant’s accelerator:” read more →

how to win new clients with a freebie strategy

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build trust by giving prospects a small sample of value.
[for another view, see when not to offer a free initial consultation]

by sandi smith, cpa
accountant’s accelerator

today’s biggest marketing challenge for soloists and small firms is getting people’s attention, then getting their trust. one way to completely overcome the trust issue is to let prospects receive a small sample of value from you at no charge.

sandi smith
sandi smith

related: the success secrets women already know  •    why you’re missing out on 98% of your new business potential  •  the missing ingredient in your marketing that will make all the difference • 3 steps to start running on millionaire time  •  on the road to a stress-free life: identify your character strengths   •  the power of deadlines in closing a deal   •   his and her brains at work in tax and accounting • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make •

because the trust factor is at an all-time historical low, as a practitioner you need to do one or more of several things before clients will do business with you in most cases:

  1. spend a lot of time developing individual relationships until people trust you,
  2. provide a complementary sample of value up front,
  3. spend a lot of time in the proposal stage wooing the prospect. read more →

the success secrets women already know

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who gets more out of their employees, men or women?

by sandi smith, cpa
accountant’s accelerator

if you guessed women, you’re right. women possess natural relationship skills that help them build loyalty, foster productivity, and spark motivation.

sandi smith

related:   why you’re missing out on 98% of your new business potential  •  the missing ingredient in your marketing that will make all the difference • 3 steps to start running on millionaire time  •  on the road to a stress-free life: identify your character strengths   •  the power of deadlines in closing a deal   •   his and her brains at work in tax and accounting • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make •

according to a study by the guardian life small business research institute, women’s skills provide: read more →

when not to offer a free initial consultation

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are we giving it away too easily?

ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers.

related: measuring growth in yourself, staff and partners  |  what do you think you’re doing?  | can you teach judgment?  |  clients’ calls at home  | what you need to know before expanding into business valuation | asking an attorney for a referral fee  |  are partner retreats really worth the cost? | audit reports without doing the work? | should i really spend the time making checklists? | what’s a tax practice worth today? |

question: i was wondering what your thought is regarding initial consultation fees. currently, i do not charge a fee for an initial consultation, and it seems that most cpas do not charge either (at least not the sole-practitioners that i know). would the fee deter new clients or actually weed out the ones who are most likely not going to become clients anyway? if a fee is charged, then how much, and how long should the consultation last? should the fee be applied to any work that i am eventually engaged for?

it seems to be a toss-up between two different philosophies:

  • people value something more when they pay for it
  • you don’t want to create any barriers to entry

i am eager to hear your thoughts. read more →

his and her brains at work in tax and accounting

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three things that are different.

by sandi smith, cpa
accountant’s accelerator

are men’s and women’s brains different, when it comes to the workplace? the answer is a resounding yes, and more importantly, science is finding that men and women work differently. when a woman works like a man does, her health suffers

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

here are three things that are different in men’s and women’s brains. read more →

the power of deadlines in closing a deal

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headache or dream come true?

by sandi smith, cpa
accountant’s accelerator

in the accounting profession, there are a ton of deadlines. month-end, quarter-end, and year-end. payroll taxes, sales taxes, and corporate taxes. and extension deadlines, filing deadlines, and payment deadlines, to name just a few.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间:  on the road to a stress-free life: identify your character strengths •  the missing ingredient in your marketing that will make all the difference •  3 steps to start running on millionaire time • 5 mistakes to avoid when seeking new clients • the top 12 business card blunders accountants make • seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

all of these deadlines may be a headache to business owners and accountants alike, but they are a marketer’s dream come true. how can you use deadlines to your advantage in marketing your services? and what if you are selling a service that is not in the accounting profession? keep reading and we’ll answer these questions and provide you with five ways to woo your prospect with deadlines. read more →

on the road to a stress-free life: identify your character strengths

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and put them to work.

by sandi smith, cpa

how many times a day do we tell ourselves with the little voice in our head that we’re falling short of the ideal we have for ourselves? “i forgot to add the salt, so i ruined the recipe.” “i’m not good enough.” “i was mistaken.” “i’m not smart enough.” “i didn’t get picked for the finals.” “nobody likes me.” and so on.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: 5 mistakes to avoid when seeking new clients •  the top 12 business card blunders accountants make •  seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

instead, why don’t we focus on our strengths? a university of michigan psychology professor undertook an extensive research project to discover 24 positive character strengths that each person has to varying degrees.

they are: read more →