it’s complicated: billing a friend
in this week’s edition of research update, ed mendlowitz takes on…
outlook & analysis
the managing partner’s secret weapon in change management
by august aquila
author of “leadership at its strongest”
and “how to engage partners in the firm’s future“
research shows that managing partners and marketing directors are still facing some major challenges when it comes to getting their firms to implement change. why?
here are four key issues firm leaders today face.
1. getting partners to buy in.
2. creating a firm vision that gets all partners on the same page.
3. helping develop a culture of accountability.
4. being asked to accomplish too many goals.
when the managing partner and the chief marketing officer work together they have a better chance of being successful in these areas. you may ask what do these four factors have to do with the marketing director? and i would answer – everything.
overcoming these four issues will make the firm more competitive, efficient and profitable. here’s how the best managing partners work with their marketing directors: read more →
consulting with a client who is also a friend
question: i have a close friend who is also a client. he went through a rough time with his wife threatening a divorce and we spent a lot of time talking about it (out of office settings). i sent him a bill and he returned it with a notation that “we spoke as friends and not as a professional consultation, and the bill should be cancelled.” what should i do? read more →
there’s a leak in my firm
never mind who — why? by bruce w. marcus professional services marketing 3.0 ok, somebody talked to the press, and leaked information that shouldn’t have been leaked. that’s three problems, not one. primary, of course, is how do we control … continued
the three biggest money leaks in your practice
start with a clean spreadsheet.
by sandi smith, cpa
accountant’s accelerator
there are dozens (and maybe hundreds) of ways your practice can leak money. here are three ideas that are fairly simple to implement and may be some great goals for you to consider.
more for soloists and small firms: new client opportunities with mobile apps / six questions to launch your strategy sessions / what most accountants miss in the five simple steps to get more clients / 10 ways to add a “money maker” hour to your day / 11 sources of wealth we can celebrate / nine value-adds to command a higher fee / how to design your business around your strengths / how to make it easy for clients to hire you / 12 fast, low-cost tips for a stress-less practice
correction
the editor’s note in this week’s research update newsletter reported a dollar figure in billions instead of millions and rounded it incorrectly. the typos are ours and not attributable to the source. a corrected version of the article appears here.
the 19-point marketing director job description
the post of marketing director is fast evolving in the accounting business. it is becoming more essential and more professionalized. but few firms have experience in marketing and so find it challenging to determine exactly what they need and want – and what to expect. here marc rosenberg, cpa, author of “cpa firm management and governance,” provides a checklist of the duties that the best firms in the business routinely consider. read more →
tax season 2013: “we wuz robbed!”
from this week’s research update newsletter.
what’s next in cpe?
the live, in-person seminar reborn, refashioned for the web.
by bob jennings
jennings seminars
in the roughly forty years since continuing professional education first started for accountants, there have been three major changes in the way to obtain cpe.
the first major change came from the presentations of the venerable sidney kess, who brought practicality and examples to an arena that had previously been occupied by pedantic and often academic educators. in the early years of cpe his shining light of the highest quality cpe was held to be the pinnacle for all other presenters.
the next era became the era of boredom. read more →
what partners don’t tell staffers about clients
by jean caragher since strong client relationships contribute to client satisfaction, longevity and lead generation, partners often encourage their managers and staff to build relationships with their clients. but these managers and staff look at the relationships their firm’s partners … continued
trends in temporary staffing
rationalizing a broken system and recapturing two-thirds of lost value.
with cpa firms and corporations rushing to staff up with a suddenly warming economy, finance and accounting employment agencies are booming. but it can’t last. sooner, rather than later, the internet will change everything.
dan gaffney, a cpa, cia, cisa and a 20-year audit veteran, in both public accounting and in corporate, is positioning himself to take advantage of the paradigm shift. he’s out to revolutionize the finance and accounting temp business.
his chicago-based incubation-stage start-up, vouchedin.com, is seeking to do to short-term staffing placements what monster did to newspaper classifieds and what apple did to the recording industry: leverage the internet to cut out the middleman, re-channeling profits to both the worker and the employer. it could change a big part of the accounting profession as well. – the editors read more →
value, billem & dunn: a value billing case study
frank stitely, cpa, cva, and the managing member of stitely & karstetter cpas, likes to stir things up – especially when it concerns the intersection of timesheets and value pricing. here’s a piece of fiction (we assume) that he titles…
– the editors
cpa firm nightmares
by frank stitely
in this week’s show, my brother and famed practice management consultant, gordon stitely, visits the venerable firm, value, billem, and dunn. vb&d managing partner bob cratchett took over the firm when founding partner izzy dunn died unexpectedly after jamming an rj45 cable into an electrical socket. cratchett knew he had to modernize the firm, and he started by banishing timesheets.
related:
why value billing won’t transform your life
the problem with frank stitely?
when he left his previous employer, scrooge & associates, p.c., he vowed never to sell time again. he would sell knowledge. he hired a value billing consultant to implement a new business model that eschewed timesheets in favor of trusting employees, since costs will always take care of themselves.
here comes gordon striding into cratchett’s office. read more →
the 10 basic ways to boost profits at an accounting firm
the new practice management discipline.
by august aquila
author of leadership at its strongest
no profits, no mission, as one of my partners is fond of saying.
while leadership, balanced life, outstanding client service and efficient processes are critical for success, they mean nothing if the firm is not sufficiently profitable to make investments for the future and compensate performers. i want to focus on ten ways to make your practice more profitable.
these ten areas form the basis of a practice operational review. read more →