outlook & analysis

the powerful mega-trends behind the upheaval at sage software

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sage’s one-brand cloud strategy is built on a tidal wave of change.

sage na ceo pascal houillon addresses 3,500 attendees at sage summit 2012

by rick telberg

it would be an understatement to say that the accounting software mavens arriving for the 2012 sage software convention were in a skeptical mood. at last year’s meeting, they were told that some of the products they know and support (and sometimes love) — like mas 90, peachtree, and accpac — are disappearing under a single sage label.

it was a long time in coming. the company, with roots in the 1990’s in state of the art and best, was built through almost helter-skelter acquisitions without merging and consolidating brands, nor even marketing departments, r&d efforts and support departments.

complete sage summit coverage and analysis:

now all that is changing. and it’s about the cloud, subscription pricing and a wrenching transformation to a new business model. the question for sage’s resellers: can sage deliver? the question for sage’s accountant partners: can they keep up?

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seven pearls of wisdom for the new managing partner

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a thankless job: divide, conquer and delegate.

most cpas are thrust into the managing partner role with little or no training or coaching. who teaches you to be an effective managing partner? how do you know if you’re performing well?

your partners won’t tell you. if you’re new to the job, do you just do it the same way as your predecessor? is that the best approach for the firm? who will mentor you?

gary adamason, longtime managing partner of dayton, ohio-based, bradyware, has been there, done that, and come back with a few wise words:

more at 卡塔尔世界杯常规比赛时间: what a coach can do for you  |  how to balance the six jobs of managing partner  |  the partner compensation checklist  |  how cpa firms make money in turbulent times

there are not too many places to turn for help. whether you are new or a veteran, here is an approach to organizing the job with a focus on dividing and conquering and delegating when necessary. read more →

7 tips to keep the clients you have

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new revenue may be closer than you think.

by sandi smith cpa
accountant’s accelerator

it’s far less expensive to keep your existing clients happy than it is to find new clients, especially since the trust factor between people is at an all-time low. so you might want to think about re-directing a portion of your marketing attention on your existing client base instead of networking for new clients.

i’ve met a lot of business owners who have trouble getting their employees to sell while they’re on site, and i’ve also heard from some customers who’ve remarked that their vendors don’t stay in touch with them. so here are some tips to mine the pot of gold that lies right before you: your current clients who already trust you and are eager to hear about new solutions that will ease their pain and problems.

sandi smith
sandi smith

more from sandi smith at 卡塔尔世界杯常规比赛时间: • how to attract clients like a magnet • eleven easy ways to deliver more value to clients•five things accountants take for granted that costs them revenue • what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise
• strategies to stop losing business to competitors • five tips to manage your ‘overwhelm’ level • easy ideas for a quick business boost • four new mega-trend marketing strategies • how to stop leaving money on the table

  1. change your attitude about staying in touch with your client.you might feel like you don’t want to “bother” your client, but i bet your client would be delighted to get a phone call out of the blue, especially if you have an idea that will save them time or money. they already trust you, so find out how you can help them even more than you already are. read more →

the keys to success for compensation committees

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why firms need comp committees and how some of them do it right.

by marc rosenberg, cpa
author of how to operate a compensation committee

cpa firms are increasingly turning to the use of formal compensation committees for a number of reasons. chief among them: it’s the best way to achieve a balance between recognizing traditional production accomplishments and rewarding intangibles.

the convergence of three aspects of cpa firm management

the compensation committee approach aligns the firm’s (1) strategic plan and core values with how partners are (2) evaluated and how they are (3) compensated. it motivates partners to produce what the firm needs them to produce.

related:  compensation issues for the new managing partner  |  20 decisions for your firm’s new partner compensation committee  | three ways to break partner gridlock in an accounting firm  | what partners are entitled to, and what they’re not entitled to | how to make partner?  |  why accounting firm partners are “popping prozac like m&m’s”  | more…

at most firms, there is a disconnect between these three functions. but at the better managed firms, they are integrated.

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cpa firm compensation plans and the law of unintended consequences

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“unintended,” maybe. but not altogether unforeseeable.

with a new generation of cpas taking over as managing partners comes a host of new questions and issues. marc rosenberg addresses some of the concerns in compensation issues for the new managing partner, which inspires gary zeune, managing director at the pros & the cons llc, to weigh in on the kind of comp issues that he sees all too often as a fraud-fighter.

zeune comments:

gary zeune
gary zeune

don’t tell anyone but the problem with cpa firms is they’re run by accountants who don’t understand the unintended consequences of decisions.

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what to do when you lose your biggest client

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and why aren’t more cpas asking the same question?

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.

meanwhile, browse more from ed here:  congratulations! you bought a tax practice. now what?  |  how accountants can keep the business when a client wants to sell theirs  |  10 reasons clients don’t pay, and what to do about it  |  13 reasons timesheets will never die  |  

— rick telberg
president / ceo

question: i have an established practice and just lost my largest client and need to get new business to make up for the loss. how do i go about getting additional clients?

answer: funny, cpas aren’t asking me about marketing. maybe it’s because 1) they are too busy working so aren’t thinking about marketing, 2) they really don’t like to sell; 3) they feel uncomfortable about asking existing clients for referrals and especially so if they feel they aren’t doing as good a job servicing the client as they should be; 4) they would like new business but don’t seem to want to go out of their way to get it unless it is a referral, or 5) they don’t know what “marketing” is.

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get real: 15 questions for achievable growth

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  first, understand your firm. by bruce w. marcus professional services marketing 3.0 in building a growth plan for your firm, perspective is important. objectives, clearly defined as they should be, should not be overwhelming. nor should they be adhered … continued

how to attract clients like a magnet

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10 tips to build an irresistible reputation.

by sandi smith, cpa
accountant’s accelerator

if you’re an expert at something, don’t be the best-kept secret on your block. get the word out about what you can offer others, and one way to do that easily, especially if you’re an accountant, is to build your reputation.

here are 10 quick tips to boost yours.

1. get credentialed, certified, or educated. a good credential, and the cpa is pretty much the gold standard, will get you instant credibility with your prospects and clients. you are simply treated better and respected more when you’ve earned a credential that others recognize.

sandi smith

more from sandi smith at 卡塔尔世界杯常规比赛时间:

• eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue
• what’s in your new client funnel?
• what’s in your welcome kit for new prospects?
• five fun and easy ways to wow your clients
• six ways to give yourself a raise
• strategies to stop losing business to competitors
• five tips to manage your ‘overwhelm’ level
• easy ideas for a quick business boost
• four new mega-trend marketing strategies
• how to stop leaving money on the table

2. create a results-oriented biography. let people know what you’ve accomplished so far in your career and what you’re capable of doing for them by writing a great bio that represents you well. read more →