outlook & analysis

ask the geek: a couple great gadgets for saving money on all your other gadgets

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two inexpensive gadgets that could save you big money.

more from ed mendlowitz, author of “implementing fee increases,” plus: three and a half ways to get your own cpa practice | novice manager needs to know: how to do it all? | why no one listens to you | fun reads for busy season  |  when not to offer a free initial consultation | measuring growth in yourself, staff and partners  |  what do you think you’re doing?  | can you teach judgment?  |  clients’ calls at home  | what you need to know before expanding into business valuation |

question: i’m having a long-standing ‘disagreement’ with my husband about whether we should turn off our home computer when we leave for the day. i like to be as green as we can, but he’s read somewhere that it causes more ‘wear and tear’ and energy use to be constantly turning things on and off. i think he just doesn’t like to wait for it to start up! what’s your take?

answer: i’d rather not take sides in a domestic (ahem) power struggle, but as your husband may have found when googling around on the topic, pc power saving can be a complicated business. still, i have some tips that may result in a household compromise. i went to a geek colleague, scott dare, for his suggestions. read more →

accountants, do you know your opportunity number?

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the pragmatic six-step way to evaluate potential new clients.

by sandi smith, cpa
accountant’s accelerator

every week, do you get wonderful, exciting calls from new clients who want to use your services? you might want to talk with every one of them to get the sale. the problem is, if you do, you’re likely to go bankrupt. let me explain.

sandi smith

more for soloists and small firms from at 卡塔尔世界杯常规比赛时间:  five ideas to reduce client price-sensitivity • rise to the top with a fresh elevator speech  •  four ways to practice entrepreneurial perseverance • 5 mistakes to avoid when seeking new clients •  the success secrets women already know  • his and her brains at work in tax and accounting  • the power of deadlines in closing a deal • on the road to a stress-free life: identify your character strengths • the missing ingredient in your marketing that will make all the difference  •

each of us has 24 hours in one day. most of us have annual revenue goals. a few of us have monthly, weekly, daily, or even hourly revenue goals. hopefully you know what your revenue goal is. (if not, you should!) if you don’t pull in that level of revenue for the week or month, then you’ve missed your plan.

let’s say you want to generate $1 million in sales for the year. on average, you need to pull in $20,000a week. that’s $4,000 a day. read more →

seven ways to increase fees

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the techniques for telling clients you’re raising your rates.

by ed mendlowitz
author of “implementing fee increases“

any time is a good time is a good time to review your fees and consider increasing them.  but the beginning of the year or a new season is especially good.

keep in mind that whatever the method you choose, you are making a business decision that should be handled with care and finesse and can affect the relationship with the client that you have been cultivating.

also, losing the client is always a threat, so you must be prepared for this. further, not raising the fee also presents a threat to your long term success and business viability, and this must also be considered.

here are seven methods of increasing fees: read more →

the problem with timesheets? not enough timesheets!

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time tracking and the v.b.t. (value billing taliban)

by frank stitely, cpa
stitely and karstetter 

i have long been a true believer in value billing.  five times a day i kneel towards the east and pray, “i am not selling time.  i am selling expertise.”  however, i just can’t follow with the end of the prayer which goes, “time trackers are evil.  we must stone them.”   time tracking is essential to value billing, done profitably.

more unconventional wisdom from frank stitely, cpa: who’s missing in action from your workflow processing system?  | how to make an extra $72,000 by working smarter

let’s invite some people to leave our discussion.  if you are a coach, consultant, or some other type of cpa advisor, who has never owned an equity position in a cpa firm, please exit stage left.  yes, i know you have decades of experience observing cpa firms.  i have decades of experience watching professional football.  that doesn’t qualify me to coach the redskins.  veteran poker players know that playing someone else’s hand is easier than playing your own when big money is on the table.  if you’re a cpa firm employee, please stay.  some day you’ll need this information.  but sit there silently until we are done.

there are three reasons time tracking is important: read more →

seven ways to build the right culture

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and five ways how not to implement a system of partner accountability.

august j. aquila

august aquila, a veteran practice management consultant, works globally with accounting firms on leadership and management issues. if you’re thinking about the quality of leadership at your firm, think on this.

five wrong ways to make partners more accountable:

  1. let’s make it into a checklist. one thing you can count on – accountants love checklists. it seems that a checklist is the answer to all our problems. read more →

three and a half ways to get your own cpa practice

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and 11 good tips for once you do.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

more from ed mendlowitz, the practice doctor q&a: novice manager needs to know: how to do it all? | why no one listens to you | fun reads for busy season  |  when not to offer a free initial consultation | measuring growth in yourself, staff and partners  |  what do you think you’re doing?  | can you teach judgment?  |  clients’ calls at home  | what you need to know before expanding into business valuation |

question: i am working for a cpa firm, but would like to start my own practice.  can you give me some suggestions?

response: essentially, you have three options (four if you count my pet project, but i won’t belabor it).

read more →

three strategies to improve buy-in for change

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feeling the frustration?

by dustin hostetler
flowtivity

dustin hostetler

how many times has your cpa firm implemented a process change or new technology, only to find out on the back-end after implementation, that only a fraction of the firm is following the new process or using all the features?

related: the coming storm in staff turnover (video)

if you answered something along the lines of “all the time” don’t worry, you are not alone. obtaining the much needed buy-in for process and technology improvements within firms is a concern i hear regularly. read more →