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nine ways to measure client experience

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two people talking and smiling in officedo your processes lead where you want your firm to go?

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: how the pandemic changed firm mindsets | twelve clues it’s time to outsource or offshore | yes, you have the staffing for cas | why firms shy away from cas | hook your firm on cas | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
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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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top trends ’23: look who’s making money now

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partners’ percentages surge substantially.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map study

financially, it’s been a good year for accountants – especially at the partner level.

more: outlook 2023: compensation gets creative | what new leaders want in ownership | getting partners to accept a new pricing philosophy | survey results: partners rejoice on surging fee growth | headcounts grow 5%; pay rates surge at 7% pace | fourteen rules for lateral partner hires

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revenues are up. the income per partner (ipp) is up. profitability is up. firms that qualify as “elite” are more elite than ever. and, yes, size matters.

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five lessons my clients taught me

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number 5 drawn in sandthey might not know what they need, so listen carefully.

by sandi leyva
the complete guide to marketing for tax & accounting firms

i feel extremely fortunate to have such a wonderful set of clients that i have learned much from the last few years. here is a list of lessons learned that i hope will inspire you to work with your clients in new ways.

more: five tests: how open are you to change? | 13 reasons to master consumption marketing | when to talk about fees | take a moment for appreciation | five skills that spell success | beyond compliance: what more you can provide
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lesson 1: help clients with what they dislike

although not all clients dislike writing, i’ve found that the majority of professionals in financial fields appreciate getting help with their writing. what took me a while to learn was the degree to which many wanted help, and what worked the best was to provide sample letters, emails and marketing materials that were as close to their situation and as complete as possible.

what skill do you have that your clients dislike doing, takes them longer or wants done for them?
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build your high-performing family office practice

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make your firm indispensable to elite clients.

by russ alan prince

if you have an elite wealth management practice, you might want to “upgrade” to a family office practice.

more: enhance wealth by mitigating taxes | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting | 2022世界杯32强赛程表时间
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self-proclaimed family office practices are multiplying at an incredible rate. for a great many financial and legal professionals, professing to have family office practices is nothing more than a marketing ploy.

as there is no “official” definition of a family office practice, anyone can say they have a family office practice irrespective of the expertise they can deliver. today, family offices are being described in all sorts of ways.

but, when you get right down to it, a family office is a very simple concept: “a family office is an expert coordinator of expertise that optimizes the lives of family members.”

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merger minded? go out on top!

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hands raising wine glasses to toastit’s time to be realistic.

by marc rosenberg
cpa firm mergers: your complete guide

an aging seller who has no successors on staff has four possible exit strategies:

1. persist in eternally searching for smaller firms with bright young owners to merge in and eventually take over the firm. but ask yourself: why in the world would a young, successful firm want to merge with a firm that’s older than dirt? besides, every firm in the country wants to merge in a talented young firm. the competition is formidable.

more: cherry-pick your merger partner | 34 steps to implement a merger | where mergers go wrong | what your merger letter of intent needs | 61 things buyers should explore with sellers | thirteen ways to woo potential firm buyers | one times fees isn’t the only way
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

2. continue the endless search for that young manager at a bigger firm who is disenchanted working at such a large firm and would jump at the opportunity to become a partner at your firm. ask yourself: why in the world would such a manager want to work for a small firm of old guys instead of joining a more vital, sophisticated firm with much more to offer?
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accounting staffs grow 4%; pay rates surge 8%

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weaker signs in tax and payroll.

by 卡塔尔世界杯常规比赛时间 research

it’s not a bad time to be an accountant.

the accounting sector is charting stable, predictable expansion in an uncertain economic environment, with some signs of weakness in tax prep and at payroll agencies, according to a new 卡塔尔世界杯常规比赛时间 study.

more: headcounts grow 5%; pay rates surge at 7% pace | cpa staff wages hit new high and keep climbing | firms battle staff shortages with pay hikes | tax & accounting firms beef up wages and headcounts | employee counts, earnings rise
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we report here on the accounting profession as a whole as well as:

  • cpa firms
  • tax preparation services
  • payroll services
  • bookkeeping
  • women

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seven types of tax return reviews

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businessman shaking hands with grim reaperit’s time for “tick and tie” to die.

by ed mendlowitz
how to review tax returns: the field-tested update

there are numerous ways to review tax returns. most reviewers have their own techniques, and some alter these based on

  • the type of or size of the return, or
  • who the preparer is or
  • who the partner in charge of that client is.

more: how to turn tax returns into new business
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there is nothing wrong with this as long as the reviewer is experienced and really knows their stuff.
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outlook 2023: capacity strategies drive change

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clients benefit, but so do small firms and next gen staff.

by jennifer wilson
the rosenberg map survey: national study of cpa firm statistics

unless there’s another round of vaccines, we’ll see more covid-19 disruption as colder weather forces more firm activities indoors. more consolidation will happen as more firm leaders feel pressure to move their problems to a larger firm and the mega firms feel more pressure to keep up with the joneses and absorb more.

more: outlook 2023: top five trends | outlook 2023: compensation gets creative | outlook 2023: the office is over | 2023 outlook: private equity comes for accounting firms
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at some point, perhaps longer than 12 months from now, one or more of the super consolidators is going to falter, more than likely is some significant service failures as their lack of integration and acculturation drives turnover and a talent shortage beyond what they’re able to rescue. i hope this doesn’t happen, but it feels like some of these firms are facing a perfect storm of financial performance and growth expectations, high client demand, capacity issues and a less unified, disorganized leadership apparatus unable to respond to these challenges.
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drive traffic to a bio for business

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after your turkey nap, check out this app. 

by beth ziesenis
app of the week

thanksgiving 2022 falls on national celebrate your unique talent day, november 24.

more apps of the week:  keep teams on task with project management apps | apps to put your affairs in order | app of the week: celebrate black business month | app of the week: cheap flights | help your clients save money | time to upgrade your spreadsheets | app of the week: secretly stash cash | easy apps for increasing client engagement with video | app of the week: grow your business knowledge and career skill sets | app of the week: upgrade your resume | app of the week: end procrastination | 

see all: apps of the week here |

goprocpa.com

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

what secret skills do you have to unveil? don’t keep the many sides of your life hidden anymore. let everyone see the real you (or the many layers of your business) using a bio site.

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consistency is key to business development

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man writing on a calendaryes, even during busy season.

by martin bissett
how to win the new breed of client

you may be asking yourself how you will know when you are successful in your selling efforts. many people have asked me that, but it’s the wrong question because firms have different goals.

more: prepare the next generation now | five ways to show commitment | selling isn’t hard | selling happens all the time | do you make your firm look good?
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some want to simply tick over and replace the clients they lose, some want to grow exponentially, some want steady and consistent growth they can measure and monitor. so there is no one definition of success. but no matter what yours is, you will never attain it if you are inconsistent in your process of winning new business.
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why a virtual family office? why now?

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diagramhow complex is your client’s financial security?

by anthony glomski

uberwealthy families like the vanderbilts, morgans and rockefellers realized several centuries ago that managing all of their vast wealth and resources was extremely difficult. sure, they had scores of advisors working exclusively for their families. still, when each of those advisors was toiling away in their silo, there was no coordination of their efforts and lots of waste and inefficiency.

more: maximize your client’s charitable giving | plan for your client to exit their business | enhance wealth by mitigating taxes | what clients need to know | what level of advice do entrepreneurs need?
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so, they established formal office headquarters where all financial experts working on their behalf could meet in one place to make it easier to oversee and coordinate everything important to the extended family – their taxes, asset protection, wealth transfer, and their legacy planning, etc.

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the 12 big questions for 2023

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the questions aren’t new, but the answers should direct your strategy.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

as gale crosley, of crosley+consulting, notes in the 2022 rosenberg survey, we are in the midst of “an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders.”

more outlook 2023: the 12 winning traits of a great cpa firm | what accounting firm start-ups are doing right | workflow is a problem. so why aren’t firms buying solutions? | top five trends | compensation gets creative | cpa partners rejoice on surging fee growth | the office is over | the great resignation or a reshuffling? | accounting firms face down private equity |

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

gale crosley
crosley

the profession, once characterized as staid and stable, has been hit by a confluence of what crosley calls “major thunderbolts,” to wit:

  • disruptive technologies
  • shifting economic conditions
  • non-traditional competition
  • fast-moving regulation
  • extensive talent constraints
  • work-from-anywhere options
  • unexpected market demand
  • private equities investing in firms
  • baby boomer retirements

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private equity heats up m&a

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firms competing in the buyers’ market need to put on some polish. 

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

the accounting industry is seeing an upswing in mergers and acquisitions after a slowdown during the pandemic confusion.

more: why solo cpas need pcas | where mergers go wrong | what your merger letter of intent needs | 61 things buyers should explore with sellers | thirteen ways to woo potential firm buyers | one times fees isn’t the only way | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the reasons, according to consultants quoted in the 2022 rosenberg survey, are several:

  • sellers are looking for viability as partners retire.
  • sellers are looking for funding to upgrade tech and shift to cas.
  • buyers are looking for scarce personnel.
  • buyers are looking for specialized niches.
  • buyers are looking for something to tempt private equity investment.

what kinds of tips are available for buyers and sellers?

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