management

nine ways to create well-behaved tax clients [pro member exclusive]

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help them to do what you want.

ed mendlowitz

by ed mendlowitz
adapted from the 2013 tax season opportunity guide

providing instructions of what a client needs to do must be clear enough so that the client doesn’t call you to find out what to do.

sometimes taking an extra minute to lay out what the client should do can eliminate that call or indecisive moment a client might feel.

the object of the instructions is to have the client do what you want them to do. read more →

the 9 biggest billing mistakes that cost accountants their hard-earned profits

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. . . and what you can do about it.

by sandi smith, cpa
accountant’s accelerator

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month.  as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more for soloists and small firms:  seven checklist secrets for turning tax season into opportunity season  •  how to stay energized, upbeat, and thinking bigger through busy season • seven ways to wow your prospect • rev up your revenue with these two daily rituals • 10 tips for creating more energy this tax season  • take a cue from venture capitalists: your firm needs a brain trust trinity    •   

in this article, i present you with a checklist so you can compare your behavior with the list.  i’ll give some tips on how to break the bad habit, and the rest will be up to you. read more →

no partner vote needed: 17 decisions best left to the managing partner alone

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a lesson in leadership from the front lines.

tony kendall

by marc rosenberg, cpa
author of “cpa firm management and governance.”

tony kendall is the ceo of mitchell & titus, a firm of over 170 professionals, 19 partners and locations in new york city, chicago, philadelphia, newark, baltimore, and washington, d.c.

shortly after taking over the reins from the firm’s founder, he orchestrated changes in the firm’s management structure, saying this: “i can’t manage this firm if i have to take a vote every time i want to make a decision.”

more on cpa firm leadership and management:  what a managing partner is… and is not   •  when is it time to shift your firm from partnership-style to corporate-style governance?  •  de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • not every firm needs a general patton • overcoming the three biggest obstacles in succession planning at cpa firms • cpa firm merger “non-negotiables” • the “aha moment” in cpa firm leadership • leadership is overrated: it’s good management that makes successful firms • 40 great ways to improve firm profitability • four management metrics that fool even the best-run firms • 19 ways to improve accounting firm profitability•

marc rosenberg
marc rosenberg

all partners usually vote on major decisions, such as:

  • admitting or dismissing a partner.
  • mergers and lateral partner hires.
  • changes to the partnership agreement.
  • expenditures in excess of a dollar amount.
  • annual budget approval.

beyond that, most well-managed firms with a strong managing partner allow him or her to make at least 17 types of decisions without any approval process: read more →

can you hear me now?

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eight reasons why accounting firms need to work on internal communications first. by bruce w. marcus professional services marketing 3.0 a terrific definition of chaos is when a client asks two different people in your firm the same question — … continued

putting the “no jerks” rule to work in tax season

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and a couple more ideas for high performing firms.

by ed mendlowitz
tax season opportunity guide

ed mendlowitz
ed mendlowitz

if you have staff, have happy, cheerful, helpful people. don’t surround yourself with downers and nay-sayers.  make sure they are team players.

part of this is your firm’s culture.  it takes work to get people to work together and to focus on doing what it takes to service the client fully, properly and timely.  everyone working together gets it done.  you need to create that atmosphere.

here are three things that might help:

read more →

how to stay energized, upbeat, and thinking bigger through busy season

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five motivation tips from the masters.

by sandi smith, cpa
accountant’s accelerator

here are a few of the best lessons i’ve received from the masters. although tried and true, their stories and hardships keep me energized, upbeat, and thinking bigger.

1. don’t give up

  • thomas edison performed 10,000 experiments before he discovered the light bulb. friends asked him what he would carry on after getting no results. edison said, “i got lots of results. i haven’t failed. i’ve just found 10,000 ways that don’t work.”
sandi smith

more for soloists and small firms: seven ways to wow your prospect • rev up your revenue with these two daily rituals •  10 tips for creating more energy this tax season  • take a cue from venture capitalists: your firm needs a brain trust trinity    •   accountants, do you know your opportunity number?    •  five ideas to overcome client price-sensitivity   •    5 mistakes to avoid when seeking new clients  •  3 steps to start running on millionaire time   •  the missing ingredient in your marketing that will make all the difference   •  on the road to a stress-free life: identify your character strengths  •

  • beethoven had his share of critics during his time and was in constant conflict with the royalty that hired him to write his works. his response: “a few fly bites cannot stop a spirited horse.” read more →

what a managing partner is… and is not

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why some firms decide they don’t want a true managing partner.

by marc rosenberg, cpa
author of “cpa firm management and governance”

over the years, i have found that many firms lack a clear understanding of what a managing partner is.  often, it’s a negative conception, caused by a bad experience at their current firm or a previous one.  so, to avoid a repeat of these bad experiences, the partners decide either not to have a mp or to provide for the mp position with greatly limited authority and responsibility.

marc rosenberg
marc rosenberg

more on cpa firm leadership and management: when is it time to shift your firm from partnership-style to corporate-style governance?  •  de-bunking the myth about niche marketing for tax and accounting firms • practice development is no longer an optional activity • 10 good ways the achieve partner accountability • pick your partners right to begin with • 

the points below clarify what a managing partner is and is not. read more →

get paid faster this tax season: six good reasons to send the bill with the return

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it’s good for business and considerate to clients.

by ed mendlowitz
tax season opportunity guide

ed mendlowitz

tax season is a business and businesses need to be paid.  it is harder to justify prices when providing services rather than products.  products are usually priced before delivery while many times services are priced after delivery, i.e. performance.

more on busy season management: tax season trends, issues and opportunities 

many accountants price returns before they are worked on, usually basing the fee on last year, or a rate schedule.  sending a bill with the return establishes the relationship that you should be paid promptly for the work done. read more →

when is it time to shift your firm from partnership-style to corporate-style governance?

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which is best for your firm?

by marc rosenberg
author of “cpa firm management and governance.” 

cpa firm management styles generally fall into two categories:  partnership and corporate. for the sake of argument, let’s use the terms “partnership” and “corporate” to describe management styles, rather than legal entities such as partnership, corporation, llc, etc.

marc rosenberg
marc rosenberg

more on cpa firm management and leadership for pro members [go pro here]:   not every firm needs a general patton  • overcoming the three biggest obstacles in succession planning at cpa firms  •  cpa firm merger “non-negotiables”   •   the “aha moment” in cpa firm leadership   •  leadership is overrated: it’s good management that makes successful firms •  40 great ways to improve firm profitability  •  four management metrics that fool even the best-run firms  •  19 ways to improve accounting firm profitability • de-bunking the myth about niche marketing for tax and accounting firms •

in this article, we’ll:

  • define each style
  • compare the two styles’ pro’s and con’s
  • explain the concept of “rights”
  • explain the key duties of a partner in a corporate-style firm
  • when a firm needs to think about shifting from partnership to corporate

read more →

not every firm needs a general patton

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but leadership remains crucial to making things happen. by marc rosenberg, cpa the author of “cpa firm management and governance.” every firm asks the question, at one time or another:  do we want the firm managed by a leader, which … continued