management

what to say instead.

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

question: i usually give away too much info at a meeting to get a new client.

more: how to start providing family office services | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
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we simply answer too many of their questions during the initial meeting. 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.
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what do “disturbing the present” and “paradigm shift” really mean?

by marc rosenberg
the rosenberg practice management library

roberto goizueta, the late chairman of coca-cola, and certainly one of the top two or three ceos of the last 30 years, said it best: “challenging the status quo when you have been successful is difficult. if you think you will be successful running your business in the next 10 years the way you did the last 10 years, you’re out of your mind. to succeed, we have to disturb the present.”

more: seven things good firms must do | five ways to separate accounting winners from losers | core values: why your firm needs them | voting on ownership basis? three better methods | fifteen big questions for your next strategy session
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compared to most vocations, cpa partners make a pretty good living. their success has been attributable primarily to a combination of the following:

1. bringing in business
2. providing great service to clients, which results in client retention and moving clients upscale in terms of services
3. strong technical skills
4. developing staff into leaders
5. strong interpersonal skills

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it might be more of a workaround than a solution. but it gets results!

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

question: i notice that most of the time my staff doesn’t listen when i talk. how can i make them listen?

more: free consultation? not always | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
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response: i find this issue very widespread. i believe there is an epidemic of people not listening, not just staff.
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change can be difficult, but it can also be the key to success.

by seth fineberg
at large

yes, it’s that time of year again when proclamations of change are made, and everyone professes to be resolute in their goals.

the fact is that most of these statements don’t happen, despite all the best intentions, but let me give you one prescription for the new year. hopefully, beyond if accountants and the profession have any hope or goal of change, you need to do the uncomfortable.

more fineberg: jeremy sulzmann: can intuit mend fences with accountants at qb connect? | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously? | you’re doing email wrong  |  careful… you may be advising! | when live events fail | getting real: accounting tech decisions you need to make today | accounting tech doesn’t have to be daunting | who’s in control? you? or your clients? |  time management rule #1 for accountants |  plan to go ‘live’ post tax season |  why vc is a bigger threat than ai  |   what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ | some thoughts on in-person events | so you think you know accountants? | what bogs down accountants

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what does it mean to “do the uncomfortable”? it can include nearly anything outside of one’s comfort zone, ranging from not responding to every client call or email to working comparatively fewer hours using new technology to increase efficiency. it could even mean posting entry-level positions at a higher pay (you are raising fees anyway, yes?). and maybe, just maybe, embrace more diverse staffing practices.

change, in and of itself, is uncomfortable and not for everyone. it also doesn’t have to be anything major. these are incremental steps to improve your life and the life of your firm.

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an example from outside the accounting profession.

by marc rosenberg
the rosenberg practice management library

it has been said that organizations should never have profitability as a goal. why? because profitability should be the result of an organization’s efforts, not its goal.

more: core values: why your firm needs them | five keys in compensating new managing partners | what partners do and don’t deserve | five steps to transition to partnership | disturb the present to improve the future
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profitability is a measure of success in accomplishing core business goals. the disney corporation probably says it best in their mission statement, which is short and sweet, but very powerful: “our mission is to make millions happy.”
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plus five steps to follow.

by august j. aquila
price it right: how to value accounting services

accounting firms, like any other professional service providers, may use change orders for several reasons. here are a few key reasons why accounting firms should consider utilizing change orders:

more: why you need progress billing | sixteen marketing activities to try | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
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1. scope of work changes: change orders allow accounting firms to document and address any changes in the scope of work requested by their clients. these changes could involve additional services, alterations to existing services, or changes in project timelines. by using change orders, accounting firms can clearly define the new requirements and avoid any misunderstandings or disputes with their clients.

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