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tax season is over; now what?

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woman driving a sports carhow are you marking this year like no other?

by ed mendlowitz
call me before you do anything: the art of accounting

i always ended tax season with my office closed the next day. we once gave employees a choice of taking off either the day after or friday after tax season. those who chose the friday said they should have taken off the day after. that day off provided a way to unwind and just be lazy.

more: when parents, children hit an impasse | how bickering can ruin a family business | one hour a year since 1972 | why annual staff evaluations fall short | why create an accounting firm business model? | the clients that keep you awake at night
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one year, one of my partners, a close friend and i all bought new cars that day. it is a day to clear your mind and come down from a high-performance mentality.
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advisory vs. low-value clients

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where is your energy best spent?

by gary bolinger

all firms have low-value clients. sometimes, they take more time than they are worth. there is never any growth with those clients. same thing, year after year.

more: what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
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it isn’t all that much fun to work on those engagements. these clients are generally interested in the lowest fee possible, but they create a lot of work or anxiety in many ways.
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why job #1 for new partners must be staff development

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hand holding a pile of dirt with a plant growing from itwhat do they want most? challenging work. surely you must have some.

by marc rosenberg
the rosenberg practice management library

firms have two levels of expectations of new partners. many firms aren’t consciously aware of these alternatives, but they exist nonetheless, and they are quite different from each other.

more: how to get promoted to manager | how to create a path to partner | making partner: what managers need to know | the 17 rules for making partner at a cpa firm | who shouldn’t be a partner? | nine reasons people are promoted to partner | how to make partner
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expectation 1: the new partner is qualified for the job.

new partners must drive the firm by

  • increasing revenue by bringing in new clients
  • retaining clients and expanding services to them
  • developing staff, helping them learn and grow
  • providing proactive, world-class service to clients
  • having the leadership skills to take over the firm from existing partners

if new partners don’t do these things, then they don’t fully perform like partners.
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four qualities of the wealthy

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and what they need.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

by design, the clientele of an accounting firm’s high-net-worth practice is the wealthy, defined as having a net worth of $10 million or more.we know that with clients at this level of net worth, you can indeed build a $5 million high-net-worth practice.

more: a high-net-worth practice in four steps | don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

admittedly, the $10-million criterion is somewhat arbitrary. but in extensively researching the wealthy, coupled with “in the trenches experience,” clients with a net worth of $10 million or more consistently prove very rewarding for most accounting firms.
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when parents, children hit an impasse

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overhead view of male and female business partners analyzing statistical annual report represented in graphs on digital tablet.four ways to proceed.

by ed mendlowitz
call me before you do anything: the art of accounting

many family-run businesses have parents and children who perform excellently together, and i have worked with many proud companies. however, occasionally there is a stumbling block, in that a parent and child just cannot get it together. what to do?

more: how bickering can ruin a family business | ceos don’t always know numbers | finding new business in sustainability | 14 simple, easy tips for a better tax season | how to recoup staff training costs | 10 ways to stay in control
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in many small businesses an underperforming employee hurts, and oft times there is a reluctance to get rid of them. they linger on, holding back the company. it is inevitable that they will be gone at some point, but that point seems to be delayed past when it should have been dealt with. biting the bullet is necessary, and when the owners realize they are better off in the long run, they take the necessary step.
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the 4 traits of great cpa leaders

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key leadership attributesdo they have these attributes?

by anthony zecca
leading from the edge

as the leader of the firm, as important as it is to complete a comprehensive assessment of your leadership team, it is equally if not more critical to assess your own leadership. what are the key leadership attributes that reflect great edge leadership?

more on edge leadership: assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how can you get a meaningful and comprehensive assessment of how well you are doing as the leader of the firm? the trap to avoid is to just listen to yourself and your own self-assessment. to really understand how well you are performing, you need multiple checkpoints.
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a high-net-worth practice in four steps

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businesswoman holding giant dollar symbolyou have the knowledge. it’s time to apply it.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

the world has changed in ways we can see and some that we do not yet understand. some of these changes have been in process before the covid-19 crisis, such as greater competition, the use of artificial intelligence, and the immense increase in private wealth.

repeats: don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

other changes, such as the way people are and will likely continue to interact, are a function of the crisis. for example, video calls and conferences are going to become a bigger part of the way professionals interact with clients and each other.
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why your google ranking is about to tank

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new algorithm could penalize older, slower sites.

by sandi leyva, cpa

i don’t know about you, but i would prefer to go through tax season without any interruptions, especially about marketing. but google doesn’t see it that way, and we have a significant search algorithm update hitting us in may 2021. if firms aren’t ready, they could see their search rankings, and correspondingly, prospects and future clients from website traffic, go way down.

more on small-firm growth strategies: seven tips to keep the clients you have | 12 ways to stress less this busy season | six ways to make your own history during women’s history month | ppp client fraud: how much risk is too much? | 3 ways to opt out of any downturn | how to lead in a crisis
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

while google updates its search ranking algorithm on a daily basis, it generally announces big changes ahead of time. google’s may 2021 update will focus on “page experience,” which includes three metrics called core vitals as well as four additional page experience signals.

no one knows the exact algorithm that google uses to rank web pages in search results. experts say there are over 200 ranking factors to consider. the latest update is all about providing a better mobile experience for the user.

here’s what all that means in detail. read more →