leadership

telling prospects too much

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know when to stop.

by ed mendlowitz
202 questions and answers

q. i usually give away too much info at a meeting to get a new client. we simply answer too many of their questions during the initial meeting.

more: how to improve quality control | how to get into your own cpa practice | when not to charge for an initial consultation | what good managers know about bad judgment
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we don’t know how much info to give away, so the possible new client will get hooked and not take the information and run to somebody else. usually, somebody else is cheaper.

how do i find the right balance?

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rule #1: start with cash

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lots of information is lurking there.

by ed mendlowitz
77 ways to wow! the checklist handbook for small-business advisory services.

one time i was asked to audit a hotel in florida that was going to be foreclosed on by the mortgagor and for which i was paid in advance. the audit was planned and scheduled, and it looked like we had everything under control from our end as much as we could.

more: organization minutes too often overlooked | five cash reports you can’t live without | when an audit is a great thing | which kpis do you need?
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i received a call on a friday morning that the foreclosure was going to take place sooner than expected, and i had to either do my work monday through wednesday or return the retainer because the foreclosure was going to take place on thursday. i took a sunday evening flight with a senior accountant. when i walked into the hotel, i got really nervous. this was not a small motel but a big hilton hotel – not what i anticipated.
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marketing: not just for partners anymore

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let people at all levels show their strengths.

by bonnie buol ruszczyk
bridging the gap

firmwide initiatives that bridge generations aren’t limited to process refinements and lean-style efficiency efforts. dramatic changes in marketing have accompanied the digital revolution, and today’s most successful firms are embracing their new opportunities. marketing is yet another avenue for bringing together old and young firm members and enhancing mutual understanding as everyone works to benefit the firm’s growth.

more: how to close the generation gap | eliminate mystery through communication | leadership growth is a two-way street | how to encourage firm ownership | change when? continuously | win with an intentional culture | each generation must change
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marketing in the accounting industry has an interesting, and fairly short, history. it is not unusual to find partners who still remember when it was against aicpa rules to advertise, market, directly solicit or even participate in competitive bidding. virtually non-existent for most of the 20th century, accounting marketing has evolved at a rather slow pace even since the rules were changed with the bates ruling in 1978.
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keep the accountants focused on accounting

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six businesspeople in meeting around tablechecklist: the 10 questions you need to ask.

by penny breslin
it’s not just the numbers

i’ve developed a series of questions to assess someone’s aptitude for being on a team. each person in your firm who is a possible member of the back office support (bos) team needs to answer these questions. that includes you, as you are a potential team member.

more: which kind of team do you have? | you don’t have to do everything | what do you want advisory services to be? | meet the new bos | why ai is not the enemy
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ask others in your firm or people you work with outside your firm to give you feedback on these questions as they see you and the other potential members of your team. their responses will give you a second filtering of your potential as well as others you would like on your team. notice these are not questions relating to the competencies in accounting functions. the assumption is that you and your people already possess those skills.
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how to improve quality control

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your reviewer should be adding value.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q. i want to improve my firm’s review and quality control. do you have any suggestions?

more: how to get into your own cpa practice | 15 tips for novice managers | what’s your ‘kg’ value? | when clients call you at home | why partner retreats are worth the cost | selling your practice is not a retirement strategy
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a: this is a recurring issue for most firms. every cpa practice needs quality control. the issue is whether a dedicated quality control (“qc”) person is needed, and if not, how the qc can be done without one.
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