leadership

selling your practice is not a retirement strategy

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consider your other possible sources.

by ed mendlowitz
101 questions and answers: managing an accounting practice

q: i’ve heard you say that you shouldn’t count on anything from your practice when you decide to retire. are you serious?

more: thirteen things to know before selling your practice | 10 reasons clients don’t pay
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a: i probably said that, but it was in the context of planning for guaranteed cash flow in retirement. a practice’s value is never guaranteed until the checks clear.
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thirteen things to know before selling your practice

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older businessman sitting at desk smiling as wall clock indicates 5 minutes to retirementtiming is critical.

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

q: i am getting older and want to continue working at least five more years. should i merge now to anticipate and facilitate a buyout?

a: selling means retiring. is that something you want to do?

more: 10 reasons clients don’t pay
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i’ve written many times about being clear about your goals and what you really want. that being said, here is a general discussion about the reality of the value of your practice.
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10 reasons clients don’t pay

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person writing check with pen and checkbookand what to do about it.

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

q: i always have large amounts owed to me from clients. is there anything i can do about this?

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a: absolutely! my feelings are that large a/r balances are your fault. accounting fees are almost never material to a business’ cost structure, but letting fees pile up can make them somewhat material.
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civility goes a long way

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business people laughing at lunch in a cafe outdoorsbad reputations spread more quickly now.

by steven e. sacks
the new fundamentals

technology has overtaken the traditional forms of communication that include face-to-face interaction, telephone conversations and of course, the handwritten or typed note slipped into an envelope, affixed with a stamp and dropped in the mailbox.

more: don’t overlook office relationships | how to deliver authentic value | making the jump from small to mid-sized firm | what sets your firm apart … if anything? | why deadlines get missed | too busy? you may need to reprioritize | is it time to outsource? | five reasons you’re not swot-ready | who needs another meeting? | 4 questions for cpa firm boards
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but wait. how can professionals succeed if the situation calls for in-person interaction if they have not been given the necessary training in the art of a conversation? whether you are involved in a job interview or entertaining a potential client over a meal, how you exercise the appropriate behavior will determine whether a relationship is forged or tossed on the pile of failed results.
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four accountability steps for firm success

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plus four challenges to address.

by anthony zecca
leading from the edge

i’ve been focusing on the leadership accounting firms need to succeed in a future driven by seismic disruptors. we began with strategy, then empowerment. this third post will address the critical element that makes empowerment work – accountability.

more: the art of leadership: empowerment | the art of leadership, lesson one: strategy
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

a characteristic of a great “edge” leader is the ability to empower everyone and understanding that as a leader, your responsibility is to lead and not manage. if you are the type of leader that manages, you own accountability since you can’t manage and empower at the same time. as i defined it in my previous post, a simple definition for empowerment that applies to all organizations is, “authority or power given to someone to do something.” 
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