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when to cut your losses

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man with head down on desk, sticky note with "help" writte on it on baseball captenacity and persistence can be friends … or foes.

by bill reeb

you are now at the final leg of the process. to be here, you had to kick out of the try (work)-evaluate loop because you were either feeling unsuccessful or unhappy about your progress or priorities. this negative evaluation occurs as you are either starting to get stuck or you are already stuck.

more: heading off course? time to correct | it’s all right to enjoy success | failure paves the road to wisdom | are you paralyzed by fear? | how to change the way you think (and why) | have your beliefs stopped serving you?
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because you have already worked through the techniques of “what you are thinking,” it’s time for us to walk through the other side of this evaluation, which is “what you are doing.” these techniques should help you find ways to get unstuck from what you are doing so that you can once again start regaining momentum toward whatever goal you are trying to accomplish.
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how the managing partner manages the partners

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silhouettes of three business partners talking against a window in an officeit’s a people job.

by marc rosenberg
the role of the managing partner

this is a saying i developed about partners that stands as tall today as it did 20 years ago: “as the partners go, so goes the firm.”

more: overarching authority that managing partners must have | exceptional managing partners offer their advice | why management is the #1 key to the firm’s success | herding cats: advice for managing partners
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this means that the partners are the drivers of the firm’s success. to be sure, nonpartner personnel are critically important to the firm’s success, but nowhere near the level of the partners, who

  • bring in the clients
  • keep the clients
  • help clients grow
  • satisfy clients’ needs by cross-selling services
  • mentor staff, helping them learn and grow
  • embrace the firm’s core values and spread the word to others
  • manage the firm and provide leadership to all

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managing vs. leading

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are you solving too many problems?

by anthony zecca
leading from the edge

one of the biggest obstacles to a firm realizing its potential, its partners and staff realizing their potential, and a firm leader maximizing his impact on the trajectory of the firm is when the line between leading and managing gets blurred.

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
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too often, center leaders believe their job is telling everyone what to do and how to do it (managing things) versus providing the tools, authority and clarity on the firm’s strategic objectives and then getting out of the way (edge leadership). leadership at its most basic level is about inspiring everyone toward a common shared vision and ensuring that the decision-making hierarchy is clear and consistent within the firm’s mission and core values. edge leadership is not about tactics and how things are done, but about making sure everyone is doing the right things, with accountability for results.
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remote work is more productive

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young businessman punching and breaking clock with fistan unexpected pandemic benefit.

by chris frederiksen

after distancing (a.d.), senior people want to work at home all the time. younger staff members want to work in the office all the time. so, what is the new normal?

more: 2021: you’ll never see ‘normal’ again | survey: we adapted to remote work … now what? | survey: 2020’s disruptions are only the beginning | covid brought us more and better client communication
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the most likely is a hybrid model, where people work at home most of the time but come to the office one to two days a week for meetings and team projects – with appropriate masking and social distancing. in 2020, many firms are more profitable than in 2019 because they cut costs and raised productivity.
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five time management tips to survive busy season

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ask why you’re putting things off.

by ty hendrickson

tax season is already here and in full swing in our house. i know what you are thinking, “she doesn’t have tax season anymore!” but that is not true. some of you know that not only am i a cpa, but i’m also married to a cpa so i couldn’t manage to get away from tax season even with a career change. that means that this time of year is always a little stressful as everyone adjusts to new schedules and routines, but with a little planning and the correct mindset it does not have to be bad.

more: sales shouldn’t be scary | sell your services on value, not price | 3 steps to getting the most out of every meeting | why choose you? | the one big reason your hiring sucks | are you botching your first impression?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

each year we look for new ways to better manage our time and become efficient so that we can make these three and a half months as stress-free and easy as possible on everyone involved. today, i’m rounding up our top five time management tips to help make these crazy few months operate just slightly more smoothly for you as well.
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five reasons new financial advisors fail

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don’t be afraid of a learning curve.

by matt solomon

if you’re thinking about making the shift to financial advising, you might be wondering if you have the skills you need to succeed. the good news is that as an accountant, you already have all the tools you need to become a financial advisor.

more: you’re selling the wrong stuff | the path to a conscious business | tap into your gold mine | shift your practice: stop depending on compliance work
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however, having the right tools does not automatically make you an advisor just like owning a hammer doesn’t make you a carpenter. you’ll need to develop a new skill set to use your accounting tools as a financial advisor. without these new skills, accountants often fail to achieve their goals and build a business that allows them to do meaningful work, make more money and spend less time doing it.
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10 ways to stay in control

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number 10respect your staff … and vice versa.

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

a new year has just begun. start it by getting and staying in control.

more: 20 best practices for staff training and retention | why create an accounting firm business model? | the clients who keep you awake at night | creating a cross-selling culture | cross-selling beyond your comfort zone | value pricing in uncharted waters | i am an accountant because of clients like stanley | advising cheapskates
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here are some ways to do this.
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advisory services: real commitment or just talk?

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overhead view of two businessmen meeting in lobbyhow your answer affects growth.

by sarah dobek

the unfolding events of 2020 will continue to be the tailwind of change for the profession.

the most significant and obvious change is the forced adoption of remote/flexible work. so many firms were convinced that remote work just wasn’t feasible. the pandemic has proven otherwise.

more: 2021: you’ll never see ‘normal’ again | survey: we adapted to remote work … now what? | survey: 2020’s disruptions are only the beginning | covid brought us more and better client communication
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

yes, for some firms, it’s not working well. but on closer inspection, these challenges are actually bringing to light systemic management and operational issues. from today’s vantage point, long- term operational change is inevitable as firms evaluate more permanent work-from-home scenarios in both the long and short term.
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‘quick questions’ and other client sins

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young businessman with forehead resting on handshow to quietly convince them to pay for tax planning.

by frank stitely
the relentless cpa

a well-known practice management expert, whom i greatly respect, advises cpas to never tell clients that you don’t have time for them. i disagree with the never part. you know how it starts. on march 25th, the call comes in.

“i know you’re busy but …”

more: how to train clients | avoiding projects hung up in process | teaching the meaning of ‘done’ | why millennials are the answer | calculating and cutting turnaround time | debunking the demise of the cpa firm
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a request follows that could most certainly wait until after tax season. you are hip deep reviewing all the personal tax returns that got stuck in process while you climbed out of the march 15th corporate tax ditch.
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how improv can help accountants

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businessman looking up answers in a booktwo must-read books on communication and networking.

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

question: i am a very good accountant but have problems when i speak with people i meet whom i do not know. do you have tips for me?

more: strategic planning for the small firm | does your staff know all the services you provide? | price your practice by gross | advising estate executors: the newbie guide to getting started | how’s your overhead? | envision your future, then plan for it

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answer: there are many ways to break the ice when you meet new people that i could share with you, but i read a book about that so will recommend it to you and will now provide a brief summary of the book.
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covid-19 shakes up m&a activity

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arrow rising above ever larger blocks in businessman's hand, indicating growthwant to grow? make sure your tech stack can keep up.

by terry putney

we are in a fluid environment as firms adapt and learn more about what to expect. i think earlier this year there was hope that we would emerge from this economic environment by the end of 2020. it looks now like this could definitely have an impact through 2021.

more: 2021: you’ll never see ‘normal’ again | survey: we adapted to remote work … now what? | survey: 2020’s disruptions are only the beginning | covid brought us more and better client communication
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is a mixed bag so far for m&a. some firms have pulled back and i suspect that is because, although this may not make sense logically, it may be hard to internally sell buying a firm and hiring more staff when the firm is laying off people and cutting back on partner draws. however, we are also seeing very motivated buyers and sellers because of the opportunities that appear to be available. one thing that can’t be avoided is the difficulty of negotiating and evaluating targets when you can’t meet face to face regularly.
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working with the super-rich and single-family offices

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//www.g005e.com/?p=77973covid-19 means referrals are your best way in.

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

client-focused business development is fundamental. the everyone wins process is effective at every level of wealth. as we said, the everyone wins process is not only business-enhancing, it’s life-enhancing. so, if you are interested in working with the super-rich and with single-family offices, mastering the everyone wins process will serve you well.

more: the power of stress testing | product-neutral or product-inclusive? | help your referral sources become thought leaders | what the wealthy want | the essential process for building a high-net-worth practice | 4 components of a high-net-worth practice | the coming boom in tax services for the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

on the other hand, you will need to make modifications to how you operate, including what you can deliver to these cohorts when it comes to your high-net-worth practice. an obvious example is that a single-family office will turn to you for all that most high-net-worth practices can deliver. this is extremely rare.
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why you want a digital tax workflow system

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pixelated blue text "workflow" on binary code backgroundworkflow fails when admins are the only ones updating status.

by roman h. kepczyk

the most important aspect of transitioning the firm’s tax process to a digital environment is managing electronic files that are no longer physically viewable in assorted stacks around the office. this requires a digital tax workflow system that lets everyone know the status of every return and easily connects that person to digital copies of the return and the source documents.

more: retaining documents: how long and who decides? | the 4 buckets of firm knowledge | internet bandwidth: how much is enough? | why you need windows 10 with automatic updates | laptops vs. desktops
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under traditional manual tax systems, firms utilized due date tracking databases that identified when a return was due, but not what information was missing, or the preparation, review or extension status, which was often recorded manually on a physical routing sheet.
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