strategy

four-part plan to re-ignite revenue growth

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sprout growing on money pile of glass jar banknew times call for new expansion strategies.

by gale crosley

it’s been a long slog, but we finally see the light at the end of the tunnel known as the great recession. both job creation and the gross domestic product are robust. interest rates remain low, and the stock market is showing solid gains.

more by gale crosley: not all fish need audits  |  the 4 new growth engines in today’s marketplace  |  change catches up with auditors  |  the 6 elements to sustainable growth for cpa firms  | jody padar’s new vision for the ‘new accounting’  |  reality check: achieving world-class growth requires real-world intelligence  |  crosley: the new growth evolution  |  expand your vision and expand your business  |  leveraging leadership: a new way of looking at growth  |  are you creating a sustainable firm?  |  don’t confuse marketing with a true growth strategy  |  overcoming four imaginary barriers that limit cpa firm growth  |  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  |  [pro member exclusive. log in required.]

video: the three elements of growth strategy  |  defining the new business model  |  the 3 hallmarks of the ‘new accounting’ business

while these bright spots are welcome, i urge firm leaders not to be lured into believing that it’s back to business as usual. the light at the end of the tunnel may look like, well, light. but the market conditions illuminated by that light are substantially different from those of the pre-recession environment.

what’s changed? nearly everything, from an upsurge in globalization to stiffer competition, increased standards and regulations, more specialization and a growing reliance on technology. today, clients can engage cpa firms around the corner or around the globe. just because you’re in the neighborhood doesn’t mean you’re in the running. read more →

the cloud is your starting point

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man typing into cloudyour customers’ expectations have changed, so you might as well embrace them.

by jody padar

let me clear this up now: the cloud is not an actual cloud.

more on radicalism: you’re already a consultant | why transparency matters in the ‘new firm’ | 10 questions to prepare for radical change | who’s your competition? everyone | radical or complacent? you choose | 3 questions to ask if you dare

it’s your software in a computer room, miles away from your physical location. i’ve been to the cloud and it’s a funny and interesting place to visit.

it’s just a warehouse; they take your driver’s license, they scan you in, inspect your eyeballs and make sure that you’re not some bad person. there’s a large area full of servers and wires and it’s unbelievably hot. but what was especially endearing about my experience was that my cloud provider, byron patrick from simplified innovations, couldn’t contain his excitement about taking me. he was like a kid in a candy shop. it must be a techie thing.
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5 ways to capitalize on trends

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number5-adobestock_58123020the market is moving. can you keep up?

by jody padar

a cch white paper, “charting a course for the future: a report on firm preparedness,” defines some of the trends that will have the most significant impact on accounting firms and their customers over the next five years.

more on radicalism: you’re already a consultant | why transparency matters in the ‘new firm’ | embrace disruption | new thinking brings new results | 10 questions to prepare for radical change | who’s your competition? everyone | how the ‘new firm’ was born | radical firms embrace 4 values | radical or complacent? you choose | 3 questions to ask if you dare

the study also notes how well-prepared accountants are to take advantage of these trends. by putting the “very prepared” firm under the magnifying glass, the report examines what makes firm owners confident about the future.
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you’re already a consultant

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two businesswomen shaking hands in modern officechances are you offer clients more than you realize.

by jody padar

to me, the most trusted business advisor is the small busi­ness advisor. that’s what my customers see. my firm serves small businesses from the ground up to $10 million. yes, we look at their numbers, but, practically speaking, one gains a lot when you’re in their financial underwear drawer.

more on radicalism: why transparency matters in the ‘new firm’ | embrace disruption | 10 questions to prepare for radical change | radical firms embrace 4 values | 3 questions to ask if you dare

most of our conversations are around their questions. it’s a natural extension of the work we already do – financials, taxes, payroll, cash flow and forecasting.
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why transparency matters in the ‘new firm’

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clear glass marble on a beachit’s time to move from number cruncher to advisor. here are 4 questions to ask.

by jody padar
the radical cpa

aside from creating a new way to do compensation and work, the “new firm” model brings upon a whole new level of trans­parency for both the customers you work with and your employ­ees…

more on radicalism:embrace disruption | new thinking brings new results | 10 questions to prepare for radical change | who’s your competition? everyone | how the ‘new firm’ was born | radical firms embrace 4 values | radical or complacent? you choose | 3 questions to ask if you dare

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 

…in at least four ways:

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how many partners is too many?

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older businessman leaning back thinkinghint: probably fewer than you have.

by domenick j. esposito
8 steps to great

more often than not, cpa firms support too many partners relative to the firm’s revenue, profitability and its anticipated growth rate. that usually means, too, that the partners are doing a lot of work that could or should be done by staff.

more on strategic planning: is your pyramid upside down? | start with sound firm governance, economics | how to develop tactics for your strategic plan | taking a balanced scorecard to your partners | as tax season ends, strategic planning seasons begins | the big eight: harsh realities for firms today | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’

look at the average revenue per partner for the mid-market sustainable brands and you will see that the trend is to get more done with fewer partners, more staff and more effective use of technology.
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new thinking brings new results

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illustration of old thinking leading to old resultsbeing radical is all about your customer.

by jody padar
the radical cpa

once you begin brainstorming about overhauling your internal processes, you need to think about it from as many different viewpoints as possible, with an emphasis on design thinking. the easiest way to define design thinking is to look at it from your customer’s perspective instead of yours.

more on radicalism: 10 questions to prepare for radical change | who’s your competition? everyone | how the ‘new firm’ was born | radical firms embrace 4 values | radical or complacent? you choose | 3 questions to ask if you dare

it’s not all about you. i know, i know. but hear me out. it’s hard to look at your firm from a customer’s perspective. that’s why we gravitate to a firm-centric point of view. this point of view asks questions like:
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how to start strategic planning

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businessman writing on a flip chart16 questions to ask.

by marc rosenberg
cpa firm retreats

strategic planning is the process of examining where you are now, where you want to be and most importantly, what you need to do to get there. it’s that simple.

more on retreats: how to identify partner potential in staffers | 13 steps in succession planning | staff best practices … for the firm | 25 ways to turn good firms into great firms | make more money | how to address partner compensation at a retreat | how to decide who decides what | how marketing for cpa firms is different | how to take action after a retreat 

the word “process” is very important. many people view strategic planning as an event, fixed in time, the results of which are bound in an immaculately prepared document and cast in stone. actually, strategic planning is a never-ending process. it goes through phases; it is continually monitored, changed and tweaked as circumstances warrant.
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start with sound firm governance, economics

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hand drawing a rainbow-colored 33 critical components of success.

by domenick j. esposito
8 steps to great

“growth is never by mere chance; it is the result of forces working together.”

– james cash penney
founder, jcpenney

your firm is a business and the vehicle for generating wealth for you and your partners. you need to operate it with strict governance processes, a system of accountability and a firm economic foundation.

more on strategic planning: how to develop tactics for your strategic plan | taking a balanced scorecard to your partners | as tax season ends, strategic planning seasons begins | the big eight: harsh realities for firms today | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’

balance sheets, usually funded by partner capital and a line of credit for seasonal working capital needs, need to be strong to protect your cpa firm from the loss of a senior partner, loss of a marquee client or just an overall poor economy that results in tepid growth for clients and therefore a reduced appetite for professional services.
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chris allegretti makes retention a top priority at hbk

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allegretti
allegretti

also: expanding on the notion of ‘most trusted advisor.’

by 卡塔尔世界杯常规比赛时间 staff

while hiring top talent is a key concern for chris allegretti, chief executive officer of hbk cpas & consultants in canfield, ohio, he’s even more concerned with his firm’s ability to retain its best people.

hbklogomore from the corner office: lou grassi focuses on recruiting, retention at namesake n.y. firm | richard berkowitz drives berkowitz pollack brant to ‘warp speed’ | randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent | the robo-cpa: jim sikich prepares for disruptive technologies |  exclusively for pro members. log in here or 2022世界杯足球排名 today.

“of  course our job is to recruit the best, but we ‘re also finding that we have to constantly ‘re-recruit’ them by investing in their futures and making our firm the place where they’ll want to stay,” he says.
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how to develop tactics for your strategic plan

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overhead view of five people in a meeting‘failure to hold your partners accountable is unacceptable leadership.’

by domenick j. esposito
8 steps to great

once you know where you want to go and when you want to get there, the next step requires you to develop the tactics or steps on how you and your partners are going to get there.

more on strategic planning: taking a balanced scorecard to your partners | as tax season ends, strategic planning seasons begins | the big eight: harsh realities for firms today | seizing the $10 trillion opportunity | learning to ‘run with the big dogs’

let’s take an example. assume, for purposes of illustration, that your strategic plan and your firmwide balanced scorecard indicate that you will elect a new ceo in the next year or two.
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lou grassi focuses on recruiting, retention at namesake n.y. firm

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grassi
grassi

paid internships, outreach to high school among managing partner’s strategies.

grassi & co. logo

by 卡塔尔世界杯常规比赛时间 staff

“the number one challenge for our organization today is finding and maintaining talented professionals,” says louis c. grassi, chief executive officer and managing partner of grassi & co.

more from the corner office: randy myeroff at cohen & co.: winning the youth movement | rick dreher innovates wipfli for clients, younger workers | how blain heckaman drives value at kaufman rossin | weisermazars mp blake charts u.s. expansion | frank longobardi: cohnreznick’s battle for top talent | the robo-cpa: jim sikich prepares for disruptive technologies |  exclusively for pro members. log in here or 2022世界杯足球排名 today.

to make itself more attractive to a younger generation of workers, his new york city-based firm is offering paid internships. grassi says the offer is available to “students interested in the field of accounting as a way to identify and develop young talent in our area.”
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