selling your practice is not a retirement strategy

consider your other possible sources.

by ed mendlowitz
101 questions and answers: managing an accounting practice

q: i’ve heard you say that you shouldn’t count on anything from your practice when you decide to retire. are you serious?

more: thirteen things to know before selling your practice | 10 reasons clients don’t pay
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a: i probably said that, but it was in the context of planning for guaranteed cash flow in retirement. a practice’s value is never guaranteed until the checks clear.
read more →

today’s top 3 problems: staffing, workflow and tech

cybersecurity, competing for clients and lagging profits make the list.

recruiting and retention may lead the list of issues accountants are facing. but problems in managing workflow have almost doubled in the last year.

bar chart

and, while firms of all sizes share many of the same problems, there are stark differences through the spectrum of solo operators to the largest firms. for instance, about two-thirds of firms with 11 to 100 employees rate staffing as their chief concern, but larger firms aren’t having nearly as much trouble. the mid-size firms are leading in solving the workflow dilemmas, while the largest and smallest firms at opposite ends of the spectrum are having considerably more trouble.

read more →

the right dna for growth

dreamstime_xs_66975872are you providing training and tools?

by sarah johnson dobek
inovautus consulting

more: seven reasons your growth plans are stalled | five ways to grow new service lines | how crisis illuminates your biz dev skills | take the pressure of ‘selling’ out of ‘cross-selling’ | don’t confuse marketing with biz dev | business development and sales aren’t scary
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when i speak with partners about growing their firms, the conversation almost always goes to bringing in more business. and while i don’t disagree that bringing in more business is a key component to growth, i often have to step back and ask why a problem exists in the first place. what i’ve learned is that many times firms hit a wall because they haven’t established a culture of growth.
read more →

2022世界杯南美区预选赛

man facing five large yellow stars on wallwork on building your resilience.

by sandi smith leyva, cpa

most of the time, being an accounting entrepreneur is a delight, an honor and a great way of life.

more: five skills that spell success | the seven-step plan for marketing by spreadsheet | five things clients have taught me
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

every once in a while, there can be those days where you just need a little moral support for one reason or another. read more →

thirteen ways to woo potential firm buyers

man writing in notebookplus how sellers should assess them.

by marc rosenberg
cpa firm mergers: your complete guide
[now updated and expanded]

once sellers have created a list of firms they will consider as a merger partner, the first step is often to talk by phone or video call with the buyer and ask basic questions to determine if a get-to-know-you meeting makes sense.

more: 13 reasons to merge up | merger? the 100 data points you need first | one times fees isn’t the only way | thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the forms below are good cheat sheets.
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thirteen things to know before selling your practice

older businessman sitting at desk smiling as wall clock indicates 5 minutes to retirementtiming is critical.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

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

a: selling means retiring. is that something you want to do?

more: 10 reasons clients don’t pay
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i’ve written many times about being clear about your goals and what you really want. that being said, here is a general discussion about the reality of the value of your practice.
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//www.g005e.com/2021/07/30/how-to-embrace-the-blended-future/the real tech trends on worthy topics, according to your colleagues.

by 卡塔尔世界杯常规比赛时间 research

ever alert for what’s coming down the pike, the 卡塔尔世界杯常规比赛时间 business barometer is looking for early omens of future trends. our readers across the continent know what’s happening.

they also know what only seems to be happening.

this year we’re asking where the opportunities are, what the challenges are and, significantly, what the most overhyped trends, technologies and topics are.

in other words, what’s the next wave on the way, and what’s just a bubble in a turbulent sea?

the answers on the overhyped are interesting.

read more →

2022世界杯32强赛程表时间

five challenges to anticipate.

by anthony glomski

my years of experience helping successful entrepreneurs, combined with my research and interviews with experts in the area of successful business exits, have helped me to identify five key financial challenges that must be addressed by entrepreneurs who are planning to cash out of their businesses.

the objective is to help business owners make a smooth and successful transition from where they are today to where they want to be post-exit.

let’s look at five of the top challenges in more detail. read more →

grow your prospect lists in 5 steps

dreamstime_xs_75612830are you overlooking an easy source?

by sarah johnson dobek
inovautus consulting

prospects are one of the greatest keys to increasing revenue but unfortunately, many accounting firms are struggling to grow their prospect lists. often, this struggle comes from not knowing how to grow a prospect base in a way that generates results.

more: seven reasons your growth plans are stalled | five ways to grow new service lines | how crisis illuminates your biz dev skills | take the pressure of ‘selling’ out of ‘cross-selling’ | don’t confuse marketing with biz dev | business development and sales aren’t scary
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

prospect lists must be permission-based, otherwise, you’ll run the risk of poor outcomes. here are three practical and easy ideas for growing your prospect base and making the most out of your communications.
read more →

essential kpis for your cas practice

portrait of a young pensive businesswoman in officeplus, how to tailor your offering.

by hitendra patil
client accounting services: the definitive success guide

“i am not a good salesperson.”

i have lost count of how many accountants have told me this over the years. but i also learned that what they really mean is that they do not have a well-defined, structured sales process.

more: how to cas: first, break bad habits | how much cas profit per person? | five reasons the top 100 loves cas | look backward for your cas processes | make sure your differentiation is truly different | is it time to outsource? | your firm’s cas team: who and how many | two tech approaches to cas | when to start building your cas tech stack | stop derailing cas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this post is not about fundamental sales skills. that is beyond our scope today. this post is more about how to develop and execute your cas sales process, pitch and supporting collaterals that can help get you more cas sales, including:

  1. how to define your cas sales process
    • four stages necessary for a sale
    • seven things you need to know about your sales process
  2. the cas sales pitch
    • thee key recommendations
  3. the cas sales collaterals
    • 11 items for your tool kit
  4. your existing clients as your cas salespersons
    1. how to provide client references
    2. daft template of the introduction email
  5. the cas sales process performance measurement
    • 10 kpis
    • 3 objectives

read more →

13 reasons to merge up

woman ladder binoculars city view outlook vision success climb adobestock_57204649.jpegand sellers’ 13 top worries.

by marc rosenberg
cpa firm mergers: your complete guide

merging up or selling a firm is one of the biggest life milestones that a cpa firm goes through.

more: merger? the 100 data points you need first | one times fees isn’t the only way | thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you’ve toiled long and hard to build your firm. it’s your life’s work. adding to the anxiety is the element of facing your own mortality. when people contemplate big personal or business decisions, it’s common to need to move through several stages mentally. merging your firm is no exception.

read more →

10 reasons clients don’t pay

person writing check with pen and checkbookand what to do about it.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q: i always have large amounts owed to me from clients. is there anything i can do about this?

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

a: absolutely! my feelings are that large a/r balances are your fault. accounting fees are almost never material to a business’ cost structure, but letting fees pile up can make them somewhat material.
read more →

seven steps to indispensability

two women sitting across a desk from one anotherand the six benefits that will accrue.

by gary bolinger
profit in disruption

being seen by a client as indispensable has at its core two factors:

  • the client’s perception that you understand their most important things and
  • that you are key to helping them achieve them and stay on track.

more: how do you rate on the 34 kpis for client relationships? | the key that unlocks client advisory services | if you can’t explain it, no one will buy it | the three types of advisory services clients need today
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

success is a perception that varies with individuals. for control freak entrepreneurs, feeling successful is a big deal and if we can help them feel more in control and thus more successful, then we are well on the way to them seeing us as indispensable.
read more →

seven reasons your growth plans are stalled

by sarah johnson dobek
inovautus consulting

growing a cpa firm isn’t easy. there are many dynamics that must align to get a team rowing in the right direction.

more dobek:   |  five ways to grow new service lines  |  how crisis illuminates your biz dev skills   |  how crisis illuminates your biz dev skills  | how crisis illuminates your biz dev skills | don’t confuse marketing with biz dev  | do you ask the right questions to deepen client relationships?  | advisory services: real commitment or just talk?  | covid: learning how to operate in the new normal

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

with a distinct gap between growth rates of the best-performing firms and the rest of the pack it’s no surprise that high-growth accounting firms have a “secret sauce.”

today we’ll identify seven reasons why low-growth cpa firms struggle a bit more than their high-growth counterparts. read more →