covid: learning how to operate in the new normal
coronavirus crisis management outlook and analysis with sarah dobek.
growth strategies
covid and client communications
twice a week isn’t too much.
value pricing in uncharted waters
and when hourly billing and fixed fees make more sense.
by ed mendlowitz
call me before you do anything: the art of accounting
equitable is not the same as equivalent.
more: testifying before congress | creative ways to retain staff | what cpas can learn from lawyers and doctors | my top 10(ish) regrets | social security is an asset class | what’s your negotiating style? | how to make your own opportunities
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i use the word “equitable” because i have charged three completely different fees for the same result. “equitable” refers to the value delivered and charged to the client. but it’s not “equivalent.” and the difference can determine your pricing strategies.
with many accountants now working in uncharted waters helping clients get through the covid-19 crisis, the pricing question is especially important.
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is the worst over? 63% of small business say so
but 84% worry about a second wave of infection.
by 卡塔尔世界杯常规比赛时间
as business owners across the country focus on getting back to business, 63 percent feel the worst is behind them when it comes to the impact of covid-19 on their operations, according to new research from a payroll agency that handles payrolls for 670,000 small- and medium-sized businesses.
more on the covid crisis: six ways accounting firms will never be the same again | retired cpa partners face pay cuts from covid | covid tests accountants’ entrepreneurial talents | deciphering the sba’s new ppp loan forgiveness rules [new dates added] |
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however, four in five business owners are somewhat or very concerned about a possible second wave of infection.
testifying before congress
this was a valuable experience.
by ed mendlowitz
call me before you do anything: the art of accounting
i testified two times before the house ways and means committee, in june 1980 and june 1985.
more: creative ways to retain staff | i am an accountant because of clients like stanley | advising cheapskates | getting bonuses from clients | be an accountant, not a salesperson for other things
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each time i was given five minutes to present my views. the first time i was shaking at least four of the five minutes. this was in the capitol and here i was testifying about what they should do.
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six ways accounting firms will never be the same again
how some of the pandemic’s ad hoc changes could become permanent.
by 卡塔尔世界杯常规比赛时间 research
new & updated! covid-19 crisis toolkit
guidance, templates, client letters and emails, phone scripts, conversation starters, best practices for your firm – available through 卡塔尔世界杯常规比赛时间.
卡塔尔世界杯常规比赛时间 is partnering with inovautus consulting, a nationally recognized leader in marketing and business development programs for accounting firms, to offer a new client covid-19 client communications and practice management toolkit that will be updated continuously for the duration of the coronavirus crisis.
save $50 today with discount code cpatrendlines20
click here to learn more
the “ffcra+ toolkit” was launched with coverage for the families first coronavirus response and the coronavirus aid, relief and economic security acts, and will include coverage of all future crisis-related legislative, regulatory, and business impacts.
beat the covid crisis with these 20 steps for your firm and your clients
the ultimate checklist for focusing on cash, communication, continuity – and accepting uncertainty.
卡塔尔世界杯常规比赛时间 business barometer
your best advice to colleagues and clients?
join the survey. get the results.
by 卡塔尔世界杯常规比赛时间 research
the toll of covid-19 on business will be an ongoing trauma. it ain’t gonna be over ’til it’s over, and that ain’t gonna be for a long, long time.
more on covid crisis management: how to inoculate your firm against covid competition | pro tax prep stalls to a crawl amid covid-extended season | covid kills 67,600 jobs in tax and accounting | client accounting services poised to surge in post-corona world | clients, revenues, profits – trending down, down, down | andrew argue is on a mission | 3 questions for determining your value | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector |
see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage
to survive, tax and accounting practices are going to need to take precautionary and proactive measures to ensure their financial continuity. those measures must necessarily include guidance for clients to help them survive. because failing clients mean failing firms.
crisis management is a lot easier if it starts before the crisis hits. here are some steps that accountants can take for themselves and their clients, gleaned from the thousands of accountants and advisors we’ve been hearing from over the past several weeks. read more →
3 steps to better client communication in a crisis
help yourself while you’re helping them.
by jody grunden
clients desire transparency. being transparent with clients and having open, honest communication with them helps build really strong, healthy working relationships. it’s never been so important for us to have open communication channels with our clients at all times no matter what form of communication is being utilized.
more: the right way to onboard new clients | how to audit 401(k)s | 3 measures of the effectiveness of your team | how to profit with workflow apps | cyber security at a virtual cpa firm | top tech choices for the virtual firm | keeping the right people on the bus
in some organizations, people hide behind their computers if they feel too busy or if they don’t want to face the client because they aren’t able to meet a deadline. we, on the other hand, make it a priority to be available to our clients at all times.
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covid launches a new reality: now what?
^click to play: aquila addresses covid crisis response strategies.
eight new trends you can’t ignore in the new normal.
by august aquila
every day we get a clearer picture of what the future holds for the accounting profession, business in general and the overall population. while the future may look daunting, we will do our best to make the most of it and come out stronger. it’s what we have always done.
more: 6 action steps for a smooth retirement transition | 7 succession planning best practices | grissom and aquila on partner performance evaluations | gross profit in a professional services firm: opening a dialogue | checklist: 18 essential steps to effective billing | how to get partners to accept a new pricing philosophy
nevertheless, don’t plan on the old ways coming back. i just read that more than 60,000 accountants have already lost their jobs. perhaps, the war for talent will be over. there will be further reductions in the professional service workforce and firms will be able to pick and choose from the talent pool.
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the secret recipe for staff retention
money, satisfaction, and growth – plus the secret ingredient.
by ed mendlowitz
call me before you do anything: the art of accounting
i believe that cpa firms do best when they hire people out of school and train them. however, today we’re not going to talk about training or who to hire, but how to retain who you have.
more: i am an accountant because of clients like stanley | underpaying others hurts you, too | my top 10 personal game changers | yes, christopher columbus had an accountant | 10 reasons for my success | when the kids don’t want to take over | staff may surprise you with leadership
when i had my practice with peter weitsen and frank boutillette, before we merged with withum, at some point each staff person’s first job was with us and we trained them our way. we had a substantial investment in them and losing anyone would cause great inconvenience and cost to us. we wanted to make sure we had the greatest chance of retaining them.
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the right way to onboard new clients
how do you want your new virtual cfo client to feel?
by jody grunden
onboarding is critical when it comes to bringing on new virtual cfo clients. it’s also important to have a smooth onboarding process for clients receiving any other types of services. i want to dive into onboarding in each of our service areas a little bit more.
more: how to audit 401(k)s | four key financial metrics for growing any business | transferring clients to a new employee | why process is key to remote work | innovate for the right reasons | creative perks for remote employees
i don’t mean to beat a dead horse here, but i simply cannot express enough how important the onboarding process is for establishing extremely solid client relationships. when it comes down to it, relationships are the backbone of our business.
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how to inoculate your firm against covid competition
the nine steps to locking in client loyalty when competitors come for your clients.
by bill penczak