surveys & research

three steps to thought leadership

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hand below light bulb

will you create, curate or both?

by anthony glomski and russ alan prince

becoming a thought leader is one of the most effective ways to effectively position you and your practice to the ultrawealthy and the other professionals who serve them. think of it as complementing and augmenting the powerful relationships you are building using the everyone wins process.

more: set your processes apart in nine steps | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you? | wants vs. needs: why not fill both? | get sticky with cas
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while there are different ways people define a thought leader, the following captures the actions and outcomes of becoming a thought leader:
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how to put target marketing into context

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three people meeting, "strategy" written behind them

combine the best parts of two approaches.

by bruce marcus
professional services marketing 3.0

editor’s note: 卡塔尔世界杯常规比赛时间 was privileged to have a long relationship with bruce w. marcus, who was ahead of his time in his thinking and practice in marketing for accounting. we are publishing some of the late expert’s evergreen work, which retains wisdom for the present.

there is much ado, these days, about niche marketing and target marketing and using mailing lists and knowledge management. how does it all come together to make sense for the smaller accounting or law firm, particularly when there’s a limited marketing budget, and a limited opportunity to reach out to the marketplace?

more: how to build a marketing culture | professional services marketing requires flexibility | how to set marketing objectives | accounting marketing 3.0: new rules | nine fundamentals for a healthy marketing culture in an accounting firm
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niche marketing is a valid concept, but unfortunately, it is inflated and distorted by suppliers of niche marketing materials. marketing niche marketing material doesn’t make the concept any less valid, although certainly, a distinction should be made between the products of different suppliers. some are clearly better and more relevant than others.

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generative ai coming to microsoft 365

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microsoft is putting a lot of eggs – $10 billion – in the openai basket.

by rick richardson
technology this week

microsoft has recently dominated the tech news cycle as a result of its $10 billion investment in openai, the company that created chatgpt, and a flurry of new products like bing chat. the redmond behemoth isn’t done either; it’s getting ready to introduce a brand-new ai-powered assistant to its office suite.

more tech this week: congress: tax prep companies shared private data with google, meta for years | the first police officer on the scene might be a drone | research: accounting pros cautiously optimistic about generative ai | first e-road charges electric vehicles as they drive | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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dubbed microsoft 365 copilot, the feature will automate tasks like writing emails, summarizing meetings and even making beautiful powerpoint presentations. even though it all seems too good to be true, microsoft’s initial demos show promise.

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four reasons people struggle with communication

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chart showing passport to partnership's 7 levels of communication managementplus two things you must demonstrate with existing client relationships.

by martin bissett
passport to partnership

ultimately, when we have to interact with clients, subordinates, superiors or peers, the questions are always the same: who do i need to deliver this information to and what approach would they respond most favorably to?

more: five questions for measuring partner potential | culture can’t be ignored | three questions about your competence | 10 can’t-skip steps for business development | attract clients, don’t chase them | success in business comes second | business won’t come to you | forged in fire: the pains of leadership | a lesson in customer service and reputation | prioritize your prospects | good enough is not enough
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in arriving at “communication” we come to the most intangible of all the components to obtain a “passport to partnership.”
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with fresh funding, irs shows service improvements

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man talking on phone and smiling

welcome to the 21st century.

by 卡塔尔世界杯常规比赛时间 research

it turns out that all it took was money. funded better, the irs performs better. it’s as simple as that.

more: research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai | how tax practitioners became cybersecurity risks | why the u.s. must act now to protect our online privacy | top tax vendors caught red-handed selling private taxpayer data
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look at the accomplishments as of the end of the filing season:

  • three million more phone calls answered.
  • phone wait times cut from 28 minutes to just three.
  • 140,000 more taxpayers served in person.
  • 80 times more returns digitized than in 2022.
  • entire backlog of 2022 returns cleared without error.
  • new online filing and notification options offered.
  • tax preparers can file 1099s in bulk.
  • new direct deposit refund enabled for amended returns.
  • 35 taxpayer assistance centers opened or reopened.

the improvements are possible thanks to funding provided under the inflation reduction act, and the irs deserves credit for accomplishing so much in so little time. the ira was passed on august 16, 2022.

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six qualities the best wealth coaching candidates share

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they enhance not only their businesses but their lives.

by anthony glomski and russ alan prince

personal wealth creation coaching is a methodology we use with the wealthy, including the super-rich as well as select professionals. we start personal wealth creation coaching with clients by having them identify where they are today and where they want to be.

more: referrals best for gaining wealthy clients | why stress testing matters | help pros become experts through thought leadership | five questions for your high-net-worth practice | what your wealthy clients aren’t telling you | three ways the wealthy use life insurance | why tax planning matters so much to the wealthy
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we find there is always a gap. by leveraging and increasing their networks while enhancing the depth of their business relationships, we show them how to close the gap.
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sandra wiley: staffing problem? check your culture

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whether it’s clients or talent, if you build a better business culture, you’ll get better results.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

with liz farr
the disruptors

as shareholder and president of boomer consulting, sandra wiley has been speaking with firm owners and leaders for nearly three decades and clearly sees the need for change in the profession.

“the business model that was built before cannot be the business model that you have going forward. it simply doesn’t work,” wiley said. “now, we’re still living in the old business model,” and we have to get out of it.

more podcasts and videos:  peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance | clayton oates: one way to keep clients for life | randy crabtree: follow these three rules to keep employees happy | erik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

when she does exit interviews to find out why people are leaving a firm, she said they all say it’s because of the hours. they need to find more balance in their lives, and they need to work less. while accountants do have government-imposed deadlines for tax returns, there are ways to reduce hours, wiley explained. we can do extensions to spread the work out over time and people, and we can outsource. most importantly, we can be more selective in the clients we work with. “we don’t have to work with every client we’ve ever worked with,” wiley said. read more →

why students opt for accounting (or don’t)

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bar charts

they share their ideas for changes.

by 卡塔尔世界杯常规比赛时间 research

are accountants a threatened species?

more in staffing & recruiting: tax and accounting pay advancing at 5.9% pace | which is better: a year of education or a year of experience? | 44 critical criteria for accounting staff performance evaluations | four ways to propel new cpas into growing your firm | mike whitmire: re-think your hiring and training practices | what new leaders want in ownership |

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extinction’s still a ways off, but the numbers of cpas are in serious decline. between 2010 and 2021, the number of people taking and passing the cpa licensing exam fell 36 percent, from more than 50,000 to about 32,000.
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set your processes apart in nine steps

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woman in white office meeting with man

your clients should notice the difference.

by hitendra patil
client accounting services: the definitive success guide

if you were to define how your firm is different in three sentences, what would those three sentences be?

write them down. read those the next day and judge for yourself if your competitors can say the same three sentences to differentiate their firms. if yes, you will see why this is a significant challenge for your firm’s growth aspirations.

more: is it time for your firm to outsource? | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas
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the classic equation of “people, process and technology” defining differentiation from the competition is somewhat flawed in accounting. by its very nature, accounting is about doing exceptionally well-defined work that follows clear laws and regulations. most firms have employees certified in similar lines of education and specialization. technology solutions for accountants are highly mature now.
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congress: tax prep companies shared private data with google, meta for years

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former ftc chief says this data breach is a “five-alarm fire.”

by rick richardson
technology this week

a seven-month congressional investigation found that three of the biggest tax preparation firms in the country may have shared americans’ private financial information with google and meta for years in a possible violation of federal law. the information, in some cases, was used for targeted advertising.

more tech this week: the first police officer on the scene might be a drone | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar

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the investigation’s findings reveal a “five-alarm fire” for taxpayer privacy that, according to legal experts, could result in public and private lawsuits, criminal penalties or even a “mortal blow” for some major industry players like taxslayer, h&r block and taxact.

“on a scale from one to 10, this is a 15 … this is as great as any privacy breach that i’ve seen other than exploiting kids. this is a five-alarm fire if what we know about this so far is true.”

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is it time for your firm to outsource?

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businessman holding up magnifying glass

twelve clues to help you decide, plus the three categories of risk.

by hitendra patil
client accounting services: the definitive success guide

when you are the key person to make things happen at your firm, you want to invest as much time in “business development” (not just marketing and sales) as humanly possible. your firm’s growth will make you feel that producing and delivering your services is an essential core business function for you, but some of it is not. freeing up yourself to spend more time focusing on the things that add value to your practice, and help set it apart from the competition is an essential differentiating growth strategy you will ever deploy. the same principle applies to your experienced, talented staff.

more: cas tech stack depends on cloud use | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas | launch cas in just eight steps | who is the professional?
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you will build your cas practice on newer, cloud, collaborative technologies. it will help you automate many routine functions and optimize your operating costs. but you still need competent people to manage, nurture and strengthen your client services and advisory functions.
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