strategy

preparing to sell your practice in a few years? 13 things you need to know today

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what to do before you put your practice on the market.

here at 卡塔尔世界杯常规比赛时间, 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. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

meanwhile, browse more from ed here:  what’s a tax practice worth today?  /  congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die | 

— rick telberg
president / ceo

question: i am getting older and want to continue working at least five more years.  should i merge now to anticipate and facilitate a buyout?

read more →

eleven easy ways to deliver more value to clients

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(and add to revenues.)

by sandi smith

as you build your relationships with your clients, it’s always a good thing to see how you can serve them even better.

here are eleven ways you can add value to your existing services which will enable you to stand out from the competition, serve the client better, and put more green in your bank account.

as you go through the list, check them off to see which ones you are doing, and which ones sound good to add to your business.

1. offer add-on peace of mind services

if you are in the information business, offer to run or set up a backup system, store a backup of what you just did, or otherwise keep copies of your work so that the client does not have to worry about recovery issues. if you offer products, this may translate into an insured package that can be tracked and monitored. what kind of safety net can you think of to create for your clients?

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overcoming four imaginary barriers that limit cpa firm growth

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change your thinking. change your results.

by gale crosley
crosley & co.

sometimes it’s not what we’re thinking, but how we’re thinking that keeps us from the success we deserve.  in this case i’m referring to the limits we impose on ourselves, which i call thought borders.

while not necessarily geographical, they constrain our forward movement much as the absence of a passport prevents us from entering another country.

more gale crosley at 卡塔尔世界杯常规比赛时间 for pro members:

how firms unleash the power of diamonds, cash cows and fat cats
how smart firms use market research
got leads? get real. learn how to qualify big opportunities
it’s a new generation in lead generation
at the best firms, growth is no accident
four keys to success at seiler cpas
how accounting firms are re-building their sales pipelines
how to get started on ifrs in one easy step

learning to identify these artificial limitations and move beyond them is a powerful tool for growth. read more →

the accounting profession promise that could change everything

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“30 minutes or it’s free;” “absolutely, positively overnight;” “no surprise billing. ever!”

edi osborne

by edi osborne
mentor plus

what do these three tag lines have in common? predictability.

dominoes and fed ex built their entire business model on making (and keeping) an uncomplicated predictability promise to the customer.  dominoes and fed ex looked at their marketplace and asked one simple question, “what is your number-one  frustration in dealing with pizza and package delivery?” those frustrations were dissected and turned into game-changing promises that rocked everyone else in their industry.

in the same way, accounting firms that adopt a “no surprise billing” promise could be game changers in their marketplace as well.

more from edi osborne for 卡塔尔世界杯常规比赛时间 pro members (go pro here):

game changing innovations are not limited to big companies. in fact, even the smallest of accounting firms are in a position to be game changers.

read more →

how firms unleash the power of diamonds, cash cows and fat cats

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dozens of accounting firms are turning a business cliche into new growth.

by gale crosley
crosley & co.

an internet search for the term “predictable growth” yields millions of links to websites, videos, books, and consultants. there seems to be no doubt about the idea that growth can be planned and charted.

but for accounting professionals who are trying to grow their firms, it may seem that there’s nothing at all predictable about sources of opportunity and how to manage them. if that’s your situation, it may be because you haven’t yet unlocked the power of the product lifecycle.

more gale crosley at 卡塔尔世界杯常规比赛时间 for pro members:

in the 1970s, bruce henderson of the boston consulting group introduced the concept that products and services have a predictable, consistent cycle. some four decades later, the bcg matrix that he developed remains a popular growth tool. dozens of accounting firms are adapting a version of the model and are using it to help determine how to grow each service line and industry. read more →

planning a partner retreat for real results

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and why the best firms make them regular events.

by marc rosenberg, cpa
author of guide to planning the firm retreat

retreats are critically important to a firm’s success.

a retreat provides an opportunity for key people to meet off premises to plan for the future, devise strategies, form goals and address problem areas. another objective of a retreat is less tangible, but equally as important: to enhance the quality of the relationships among co-workers and improve communications between them.

read more →

no alignment? no execution.

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seven steps to getting things done right.

august aquila
august aquila

strategy, they say, is easy. execution is hard.

excellent execution beats excellent strategy most of the time. unfortunately, at many accounting frims, good strategies die a slow death as intertia, obstinacy or simple disinterest take hold.

the roadmap to success may seem easy to follow. but, as management consultant august aquila says, “it takes real commitment from the firm’s leaders to do it and follow through.”

aquila is ceo of aquila global advisors, specializing in succession planning, mergers and acquisitions, and compensation plan consulting. here’s his seven-step formula for translating good intentions into real results. read more →

the six-step roadmap for cpa change agents

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nick keseric
nick keseric

… and the nine keys to successful change.

by nick keseric
www.mpscpa.com 

there are some pretty tough jobs out there. sword swallower. repairman at a nuclear plant. dentist for alligators. but being a change agent could top the list.

when you mention change agent, the term “cultural change” is usually close behind. change agents change the way things are being done on two fronts:

1. structurally/organizationally within a business and

2. change employee’s thinking, and how they do things.

read more →

larry autry, wp: looking to acquire a practice group

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strategy 2012: succession solutions

what are your critical challenges for 2012, and what can do you about them? a number of the profession’s leading lights have been sharing their thoughts with accounting today. here’s one:

larry g. autrey
whitley penn

the aging of partner ranks. older partners want to continue when they’re in good health, while younger staff sees that as preventing their career progression.

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new year’s resolutions for and by accountants

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‘tis the time to be thinking and planning for the new year.

so, naturally, we’re all making new year’s resolutions. here are a few from 卡塔尔世界杯常规比赛时间 members.

add your resolutions in comments at the bottom, or join the survey and get the results.

  • 90 day performance plans with all staff.
  • increase fees for tax prep
  • provide better information to top management so it better understands cost structures and can react accordingly. read more →

charles postal, sp&co.: investing in people and mergers

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strategy 2012: battling for market share

what are your critical challenges for 2012, and what can do you about them? a number of the profession’s leading lights have been sharing their thoughts with accounting today. here’s one:

charles postal
santos postal & co.

we see a shrinking market share of small and medium-sized businesses with the need for premium accounting services caused by increased competition from larger firms with greater resources.

read more →

bill hagaman, withum: metrics for partners

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strategy 2012: talent, pricing, accountability

what are your critical challenges for 2012, and what can do you about them? a number of the profession’s leading lights have been sharing their thoughts with accounting today. here’s one:

bill hagaman
withumsmith+brown

we see the top challenges as retaining talent, pricing and partner accountability. we’ve worked hard at creating a culture that our professionals want to work in.

read all the 2012 strategies:

this starts with our philosophy that no jerks are allowed at any level and while we will work with partners and staff to mentor them regarding the proper behavior in the office we will not tolerate any unprofessional conduct toward our staff. read more →