growth strategies

the 8-step method for launching client accounting services

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start small, learn, and then expand.

by hitendra patil
client accounting services

whether you are thinking of offering client accounting services, have already started offering it or you want to grow your cas practice or make it more profitable, some proven steps will make your cas practice shape up in the most optimized way. if you have already started offering cas, these are the steps that you will revisit from time to time.

more: six reasons cas is king | who’s afraid of client accounting services? | what cas is … and is not | how to develop the cas mindset | the right mindset for client accounting services | client accounting services: the definitive guide
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there are several steps to get started in cas and make your cas practice better. the following details are just a bird’s-eye view of the important aspects of how to create your cas practice. read more →

advice to new accountants

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businesspeople discussing chartswhat to know when you’re starting out.

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

i was asked to provide advice to people starting out in accounting and am sharing my thoughts here. i get many requests to speak, write and comment on all sorts of areas of practice management. here is one such interview that hopefully you might find interesting and insightful.

more: what does the client want to see? | the clients that keep you awake at night | creating a cross-selling culture | cross-selling beyond your comfort zone | a test of concentration | value pricing in uncharted waters
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what is the best career advice you received? why do you consider it so?
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step into the role of a business advisor

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portrait of a cheerful businessman smiling at the cameraare you proactive or reactive?

by matt solomon
the center for enlightened business

once you’re ready to stop depending on compliance work, you’ve got to move your business into another model. you need to be proactive, charge for your value and leverage your existing knowledge and skill set.

more: shift your practice: stop depending on compliance work | take the nine-point practice checkup | three ways to leverage today’s uncertainties for renewed growth
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the business advisory model is your way out of compliance work! you can charge premium prices, work with better clients and be of greater service – while working fewer hours.
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an alternative to pro bono

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businesswoman at crossroads, facing two pathstry board service instead.

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

question: occasionally i receive requests to perform accounting services for free for not-for-profit organizations. i usually ignore them. do you have any suggestions on how to handle these emails?

more: work the client needs … but won’t pay for | advising estate executors: the newbie guide to getting started | 14 better uses for timesheet data | tossing timesheets is just the start | how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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shift your practice: stop depending on compliance work

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number 5 drawn in sandare you ready to step off the hamster wheel?

by matt solomon
the center for enlightened business

this article is the first in our five shifts series, which lays out five key shifts you need to take your business away from a high-volume model with long hours and unfulfilling work and toward monthly engagement of $3,000-$15,000 per client with $500+ hourly realization rates and a better quality of life.

shift 1: stop depending on compliance work

more: let go of beliefs that hold you back | reframe sales as communicating value | 3 keys to evolving your accounting practice
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the idea of reducing your dependence on compliance work may be radical for some accountants and familiar to others.

compliance work is the main source of income for many accountants, but unfortunately, it’s a high volume, low-profit ballgame. in order to be successful, you need to have flawless execution and massive leverage – if anything is out of place or goes awry, you won’t get the results you’re hoping for.
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build the practice you want in 4 steps

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businessman's shoes toeing words "what's your next step?"it’s never too late to start.

by ty hendrickson

building an accounting practice is not for the faint of heart. you go into this profession because of a love of analyzing numbers and helping others, but to have work to do accountants have to pivot and become salespeople too.

more: get goal-ready for 2021 | why choose you? | the one big reason your hiring sucks | 5 crucial areas of firm culture not to ignore | the cpa firm partner’s role is changing | are you botching your first impression? | maybe the pandemic isn’t all bad
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

there are many ways to grow a practice, some being more passive, including utilizing referrals as they come, and some being more outward, including networking and prospecting. the bottom line is that accountants must find a way to bring new clients in the door to keep the doors open.
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work the client needs … but won’t pay for

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young businesswoman putting hand out in "stop" gesture while sipping coffeemaybe it’s time to part ways.

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

question: i know that one of my clients needs some extra work done, but they don’t want to pay for it. it is important that this work gets done.

more: advising estate executors: the newbie guide to getting started | 14 better uses for timesheet data | 9 must-haves for firm growth | 5 ways to build teamwork
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do you think i should do it anyway? what is my responsibility?
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who’s offering your clients ppp services?

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https://www.e-junkie.com/ecom/gb.php?ii=1671049&cl=23704&c=cart&ejc=2&aff=29672084% of your colleagues are.

by sandi leyva

clients have inundated accountants all year with questions and issues about the paycheck protection program (ppp), and no end is in sight.

more: ppp client fraud: how much risk is too much? | survey: who’s not billing for ppp services?
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earlier this year, it was all about loan acquisition. now, borrowers are gearing up for loan forgiveness and asking their cpas for assistance.
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what does the client want to see?

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the lesson isn’t the investment, it’s the presentation.

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

here is a story of something that occurred in 1980 and became the reason for my understanding of how bond investments work.

more: the clients that keep you awake at night | clients don’t lose sleep for overpaying taxes | when time-based pricing works | how auditing is like a pirouette | ¿que es bookkeeping? | underpaying others hurts you, too | yes, christopher columbus had an accountant | 10 reasons for my success
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these rules still apply today, so in some measure, i’ve learned a lifelong message.
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why your firm needs to attract more millenials

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two men talking at table, one younger in plaid with man bun, one older with glasses and sweater over shoulderswhat makes a firm millennial-friendly? ask a millennial.

by frank stitely
the relentless cpa

younger clients demand electronic solutions. if you want younger clients, evolve your firm.

more: why millennials are the answer | why small firms can win the talent wars | there are no easy answers | how to thrive as a 21st-century firm | farm-aid for accountants? | whittle down wip | the tax practice traffic cop
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this evolution becomes even more critical when you consider that paper tax forms are going away. we will harness electronic data feeds from blockchain transaction systems. annual tax season meetings become totally useless at this point.
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advising estate executors: the newbie guide to getting started

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bonus checklist: 14 questions to answer.

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

question: i have a client who became the executor after his mother died.

more: 14 better uses for timesheet data | tossing timesheets is just the start | how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

he has a brother and two sisters. they asked me to advise them, but i am not that familiar with handling estates. is there anything you can tell me to get me started?

answer: it is never good to work on things you are not familiar with, but doing so can provide that familiarity, as long as you cannot do any harm to the client.

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the four-step process for client-focused business development

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everyone wins… here’s how.

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

when it comes to working with the wealthy, all your expertise and all your firm’s capabilities and all the other top-notch experts you can bring to the table are “givens.” put another way … they are table stakes, and you must have table stakes to play. you absolutely need a top-of-the-line high-net-worth practice.

more: building a high-net-worth practice during covid-19 | the essential process for building a high-net-worth practice | what the wealthy need | setting financial and practice goals during covid-19 | 4 components of a high-net-worth practice | life insurance as part of wealth management | mistresses, mister-esses and accountants | 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.

as for your expertise, if you have a wealthy entrepreneur who wants to sell her business in a couple of years, there are some ways to mitigate capital gains and estate taxes. tax mitigation could come from the use of selected trusts or establishment of an offshore pension plan. the fact that you can do all these things does not inherently differentiate you from another quality accountant and many other high-caliber professionals. it most likely will separate you from many possible competitors, but they are not really the competition.
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yes, your clients need annual minutes

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businesswoman writing with pencil on notepad in the officebonus checklist: 34 items for corporate or organization minutes.

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

question: should my corporate clients have annual minutes?

more: 14 better uses for timesheet data | tossing timesheets is just the start | how’s your overhead? | 9 must-haves for firm growth | collect more by clearing up billing | envision your future, then plan for it | 5 ways to build teamwork
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

answer: yes. and not only corporations, but also partnerships, llcs, not-for-profits and other entities.
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