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one hour a year since 1972

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digital visualization of a blue alarm clock“i love it when clients’ children call me.”

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

one day i met with a client for one hour to get his tax information. this is a client i have had since 1972.

more: finding new business in sustainability | the six types of “impossible” clients | you’re not just taxes | granting unconventional request pays off | 20 best practices for staff training and retention
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at this point his tax return is much less complicated and he could easily mail in his info, but then we would forgo the meeting. we met when his lawyer introduced me to help negotiate his divorce. i got it done and in a way that he and his soon to be ex-wife did not fight and remained friends (to this day!). because of this i will never lose this client. we are truly in a great profession!
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the path to partner

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man pointing at computer screen while woman works, both smilingyou need skills in general, in business development and in being a good boss.

by marc rosenberg
the rosenberg practice management library

the old-school way of developing staff into partners was very simple:

  • staff are bountiful. those with the right stuff move up; we’ll move the others out and hire a new crop to replace them.
  • it’s up to the staff to pull themselves up by their own bootstraps and make their mark. nobody showed us how to make partner. nobody held our hands.

more: 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
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  • it’s up to the staff to tell us that they want to be partners. unless and until they show us this ambition, we won’t talk to them about becoming a partner.
  • bringing in business can’t be taught. you’re either born with it or you’re not.
  • and while we are on the subject of business development, we all know from experience that marketing must be done nights and weekends. clients are too busy during the day. and we need the days to get our billable hours in. so a partner must commit to working long hours, including nights and weekends, and be willing to sacrifice his or her personal life for the firm.

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how small firms find new growth as family offices

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businesswoman in a meeting with a male colleague smiling at him as they sit at a table discussing paperwork over coffeesize doesn’t matter. interpersonal skills do.

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

the accounting industry is comprised of several colossuses, many midtier firms and thousands of small firms. in a bustling economy, most smaller firms can do quite well. when times get more difficult, as they are today, all accounting firms are under pressure. nevertheless, they can still do exceptionally well.

more: trendwatch: new revenues in financial stress testing | family feud isn’t just a game show | personal wealth creation can be coached | the power of stress testing | guiding clients through covid
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one of the keys to success for small accounting firms is being able to provide integrated solutions. while continuing to deliver compliance services, small firms can benefit from developing and highlighting high-demand, value-added advisory capabilities. they can then use these advisory capabilities to differentiate themselves effectively. many larger firms continue to grow because of their advisory services, and smaller firms can duplicate this same approach.
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effective networking is an art

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four people meeting for business lunchlisten to learn … about the speaker and yourself.

by steven e. sacks
the new fundamentals: thriving in disruption

there is no one right way to effectively network. you can join boards, attend conferences and sign onto various electronic forums, among other ways. no matter how you decide to get yourself “out there,” the critical factor is the approach you take. “how may i help you?” is the positive, proactive way to establish a relationship.

more: avoid last-minute deal making | five common negotiating mistakes | reaching for authenticity in client service | deadlines? ha! don’t make me laugh | organizational change starts and ends with people | busyness isn’t the same as productivity
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you as the networker are seeking to build a relationship. if the other person or group benefits from your effort, think of it as an investment for the future. if you are looking for an immediate quid pro quo, it will become transparent to the other party. when you offer assistance, be authentic and sincere in your words and actions. follow through on your promises.
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what to do with a lousy client?

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young businessman staring at laptop computer in officeexamine how you’re managing the relationship.

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

question: i have a client that is a not-for-profit and they are having a dinner and expect me to attend as well as take an ad.

more: stop drowning in client documents | employee demands a raise she doesn’t deserve | 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 | how’s your overhead?
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however, they are a lousy client. they do not give us the requested information until the last minute and then complain we are always late with our report. they pay us months after the bill is sent and then only after quite a few phone calls, and then they complain about the fee being too high when it is half of our time charges – they are on a fixed fee and don’t let us raise it each year. and now they expect a “contribution.” what should i do?
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