break out of the compliance commodity trap.
by randy johnston
accounting firm operations and technology survey
the best firms are offering new services packaged at flat rates.
for example, performing bookkeeping/write-up services for $2,000 to $3,000 per month and including the tax returns, or picking a specialty service or niche and wrapping a set of services around that.
all marketing in these firms has the same focus: read more →
sharing information to help clients (and prospects) succeed.
by sally glick
sobel & co. llc
at our firm we continue to believe that the more value we add by sharing important and relevant information, the more new business we will generate (along with raising retention as well.)
we do this with a three-prong approach:
1. the first is to host over 26 niche-specific programs (seminar, webcasts, half day symposiums) annually;
2. we write industry-specific white papers on topics our clients tell us are meaningful to them, which we also coordinate with website content; and
and are they ever coming back? a seismic shift is shaking the accounting profession: an acute and worsening shortage of clients. a sluggish economy has knocked a lot of traditional clients — individuals and business alike — to the wayside. … continued
camico marks 25 years of service with 25 tips for managing malpractice liability risks.
the professional liability insurance company was created by the california state cpa society amid a crisis shortage of insurance in 1986 as firms were facing mounting problems. since then, the company has spread to 45 states.
from their 25 tips marking 25 years in business, here are our favorite five: read more →
the new war for clients calls for real strategic advisers.
by rick solomon
many firms that i know and work with are not experiencing any difficulties in bringing in new clients. in fact, some are dealing with capacity issues. the majority of our profession is having a different experience because they have, to put it bluntly, fallen asleep at the wheel.
our profession’s thought leaders have for years been making an impassioned plea for cpas to be more client focused. they’ve been telling us we must better understand and provide solutions to client’s needs beyond traditional services. for the most part, only a small percentage of the profession has responded. common talk among many thought leaders is about how resistant to change most accountants are. in reality, most firms continue to provide pretty much the same services they always have, making a few “tweaks” along the way in the name of “progress.” that’s just not enough anymore. read more →
despite cpas’ huge advantages, why do they own only one-tenth of 1% of the business? the cpa profession could — if it mobilizes on the opportunity — quickly become the dominant provider of comprehensive high-profit wealth management and financial planning … continued
clients were already clamoring for it.
[jwplayer mediaid=”13618″]
in this series of video bites, david strother, financial services director at dsf wealth management, the investment arm of darnall, sikes, gardes & frederick cpas in lafayette, la., explains how the firm decided to enter the wealth management business… and what they learned, sometimes the hard way.
what’s your best advice for winning the battle for new clients?
by august aquila
aquila global advisors
today’s economic environment poses unique problems for cpa firms that want to bring in new clients. there is no single solution to growth in the present situation. firms must look at multiple ways to bring in more business.
the three main strategies that firms must embrace, which are not mutually exclusive, are:
1. growth through acquisition/merger
2. improve client retention
3. bring in new clients
many staffers would rather clean toilets than file for reimbursements
according to new data from concur, an expense-accounting management company:
live online workshop: build your accounting firm’s marketing plan. this brand new workshop is designed to help help accounting firm leaders focus on what your firm really needs and the moves that are most likely to leverage success. you’ll cut … continued
accounting and bookkeeping sector adds 17,800 jobs in may.
in the biggest single-month gain since the recession, the accounting industry added almost 18,000 new jobs in may, bringing the total headcount to 926,300, a 29-month high. in fact, accounting was one of the few bright spots in an otherwise disappointing jobs report.
client retention falls to winning new business as top issue for firms.
in a signal that the competitive wars among cpa firms have only just begun, a new survey of practitioners shows client retention and even revenue growth are taking a backseat to a desperate grab for new clients.
adding new clients ranks no. 1 for firms employing 2 to 5, 6 to 10 and 11 to 20 professionals, according to the 2011 aicpa private companies practice section’s cpa firm top issues survey, last issued in 2009. read more →
$200,000 per year doesn’t cut it anymore.
the established notion of “mass affluence” is getting pushed aside by a new study that redefines the spending power of the truly and the up-and-coming affluent as the “class affluent” and the “emerging affluent.”
key findings: