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make your firm faster, smarter, richer … with millennials

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you need them as clients … and employees.

by frank stitely
the relentless cpa

do you know why millennials can’t buy houses?

  • avocado toast is expensive.

more: seven ways to beat staffing shortages | who’s your most valuable employee? | ‘quick questions’ and other client sins | when clients create errors | how we killed the tax season client meeting | why small firms can win the talent wars
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how many millennials does it take to change a light bulb?

  • none. they accept it for what it is.

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nine reasons you need another partner

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number 9 created by gaps between many small green plastic 9'splus nine reasons they should want to be.

by marc rosenberg
the rosenberg practice management library

before we get too far, we must answer a basic question: why would a cpa firm ever want to make someone a partner in the first place? why would it want to share profits with more people?

more: how to make partner?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the short answer is that it must be beneficial to both the firm and the new partner. a win-win, as the saying goes.
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but i am managing!

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not being the managing partner is no excuse for not polishing skills.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i am a partner in a multipartner firm and have no firm management responsibilities, rather i manage a large book of business and while i do not bring in much new business (i don’t have time) i get substantial additional consulting services from existing clients and my realization rate is highest in the firm.

more: make more money starting now | how are you spending the next five years? | how to get the most from cpe | does your staff know all the services you provide? | price your practice by gross | advising estate executors: the newbie guide to getting started
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but yet you told me i should attend at least one daylong practice management program a year. why?
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how to make partner?

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don’t keep it a mystery: six common mistakes.

by marc rosenberg
the rosenberg practice management library

accounting firms worldwide are dealing with an enormously difficult challenge today – one that has topped every firm’s list of critical issues since the turn of the century and will continue to be a high priority for years to come. the vast majority of firms struggle with it. failure to solve it causes hundreds of firms to merge out of existence every year.

more rosenberg: 10 ways to hold partners accountable | five ways to evaluate partners | compensation is no way to manage partners | 4 big issues that firms face | make sure partners focus on two things | manage partners with goal setting | clarify partner expectations | how the managing partner manages the partners |

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

the “it” is, of course, succession planning, with difficulties rooted in a perfect storm of causes:

  • the huge number of baby boomer partners nearing or reaching retirement age, coupled with …
  • an acute shortage of younger people with the desire and the skills to succeed them, accompanied by …
  • cpa firms’ historical weakness at retaining staff and developing them into leaders and future partners. evidence of this is the fact that 80 percent of first-generation firms never make it to the second.

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seven ways to win the talent wars

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how small firms can beat the staffing shortage.//www.g005e.com/2020/09/18/better-talent-drives-better-results/

by frank stitely
the relentless cpa

the following story brought tears to my eyes while i sat in a barbados resort drinking some alcohol concoction. was it the alcohol talking or the happy ending where i got a profit distribution check? maybe a little of both.

more: who’s your most valuable employee? | how to implement the laziness equation | the happier, saner, richer tax firm | ‘quick questions’ and other client sins | how to train clients | avoiding projects hung up in process | when clients create errors
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the afternoon before i left for beautiful barbados, the partner group of our outsourced accounting practice met for a state of the practice meeting conducted by our director of outsourced accounting.
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deliver internal reports digitally

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abstract illustration of binary data flowyes, even to the owners.

by roman h. kepczyk

improving firm efficiency means that the owners have to get on board. one of the more obvious opportunities is the delivery of the firm’s own financial reports. many firms still print a hard copy of the monthly financials and distribute them to each owner, many of whom physically store these documents in a binder or drawer in their office.

more: why daily t/e entry matters | the case for digital auditing | teach your clients to send info digitally | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

most firms consider these documents confidential and yet copies are distributed throughout the office, many of which are not secured. a better solution is to set up an “owner’s drawer” on the firm’s portal or document management system and post one copy of the monthly financial statements when they are ready.
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