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why merging in smaller firms is fabulous

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businesspeople having a meeting over coffee sitting together at a table discussing a document, young man and two middle-aged women presenteleven reasons to do it.

by marc rosenberg
cpa firm mergers: your complete guide

if an opportunity to merge in an attractive smaller firm was presented to you, would you be interested in pursuing it?

my guess is that at least 90 percent of all cpa firms would answer this question with a resounding yes! (and a healthy percentage of the remaining 10 percent perform at such high levels that they cannot conceive of merging in a smaller firm whose performance falls well below their own high standards.)

more: selling your firm? what to expect | thirteen ways to woo potential firm buyers | 13 reasons to merge up | merger? the 100 data points you need first | one times fees isn’t the only way | thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
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why is this? the short answer is that it’s a great deal, both financially and operationally. it’s an almost can’t-lose proposition, as long as you do it right.
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how to expand into business valuation

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bonus checklist: 47 types of bv services.

by ed mendlowitz
managing an accounting practice: 202 questions and answers

q: i am exploring the business valuation credential as a way to expand our practice. i’m still (relatively) young to the profession and would (i think) love to expand into this niche area.

more: how to handle referrals with attorneys | audit reports without doing the work? | ask these 10 questions before adding financial services | 10 reasons clients don’t pay
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a few things:

  • we don’t do any bv now so my ability to acquire the abv credential would be difficult without the experience aspect.

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firms report it buys, budgets

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laughing businesswoman talking on the phone in office in front of four monitorscentralized scanning is common, backup appliances less so.

by 卡塔尔世界杯常规比赛时间 research
accounting firm operations and technology survey

the 2021 accounting firm operations and technology survey has turned up interesting findings in how firms are maximizing their use of technology.

more: dell tops in accountant tech | tech vexes 58% of solos | firms on the brink of big spending
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here are some highlights, but note that percentages related to “all firms” are heavily skewed to firms of under 10 employees, which accounted for 66 percent of respondents:

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fine-tuning the subscription fee model

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how cpa jamie lopiccolo’s subscription pricing models manage client expectations and the firm’s cash flow.
^ click to play video | > play the podcast and follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.

with steven sacks
the new fundamentals: thriving in disruption

james (jamie) n. lopiccolo, cpa, cgma
lopiccolo

jamie lopiccolo, the managing member of a small midwest firm, has been employing a subscription-based model for more than four years to invoice clients for services rendered. in addition to positioning the cpa as the client’s partner for success, it also encourages those who employ the system to provide maximum value in each client interaction, rather than focusing on getting as much money or billable hours as possible. catch another conversation with lopiccolo here: sell service, not hours.

more: 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  | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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

the approach is to both manage expectations by the client and ensure a normalized cash flow for the firm. additional benefits include a more strategic approach to dealing with new clients because they are getting the full picture of their business’s needs.

more takeaways:

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five lead generation mistakes to avoid

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magnifying-glass-1-150x150who is listening?

by sarah johnson dobek
inovautus consulting

we work with a lot of professional service firms. the one thing they always want is to generate more leads.

more: five post-tax season growth ideas | six tips for winning more proposals | six ways to engage young managers, staff in firm growth | the right dna for growth | how crisis illuminates your biz dev skills | business development and sales aren’t scary
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

many of them have more leads than they realize at their disposal, but they are making some common mistakes.
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which kpis do you need?

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mature businessman holding an electronic tablet inside an office buildingconsider how the data will be used.

by ed mendlowitz
77 ways to wow!

key performance indicators (kpis) are shortcuts and tools to give managers a quick grasp of essential activities enabling greater control. whether a manager runs a business, not-for-profit, governmental unit, department or a small group, kpis can help the manager be more effective, achieve goals and better serve customers, stakeholders or others relying on the organization.

more on advisory: when an audit is a great thing | how to read a financial statement | the kpi an absentee manager needs | which kpis do you need? | the seven-minute financikal statement
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

managers need to develop the kpis that will help them the most. this development should be based on what they are doing now (with some tweaking) so they get four or five numbers daily that will not take more than three minutes to absorb, assess and activate changes, if necessary. transparency and sharing the kpis will also draw team members into the process.
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the role of the personal cfo

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woman and man talking with coffee, laptopyour client? the family ceo.

by anthony glomski

truly consultative collaborative wealth management stands in stark contrast to how most investors and their advisors operate today. even the most affluent and successful people you know – professionals, entrepreneurs, executives – rarely take this type of coordinated and comprehensive approach with their finances.

more: three components of collaborative wealth management | 2022世界杯32强赛程表时间
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the vast majority of people tend to address retirement, estate planning and other financial goals on an ad hoc basis – treating these issues as separate concerns and placing each one in its own discrete box. given that, their efforts to deal with their many interconnected issues are not coordinated. this leads to challenges that can jeopardize their financial health as well as that of their families, their practices or their businesses.
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listen to learn

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four people meeting for business luncheffective networking is an art.

by steven e. sacks
the new fundamentals: thriving in disruption

there is no one right way to effectively network. you can join boards, attend conferences and sign onto various electronic forums, among other ways. no matter how you decide to get yourself out there, the critical factor is the approach you take. asking others, “how may i help you?” is the positive, proactive way to establish relationships.

more: build the framework to a solution with five answers | try for success, not a win
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you as the networker are seeking to build a relationship. if the other person or group benefits from your effort, think of it as an investment for the future. if you are looking for an immediate quid pro quo, it will become transparent to the other party. when you offer assistance, be authentic and sincere in your words and actions. follow through on your promises.
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client wants vs. needs

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woman driving a sports carhow cas fills both.

by hitendra patil
client accounting services: the definitive success guide

what some clients feel is an absolute need, other clients may feel it is not. people may need to book an uber or lyft ride, but some of them may want a premium ride.

more: clients’ new expectations | 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
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some of your client accounting services will be the premium ride your clients will want. for some clients, your premium services will be the need. (you want such clients.)
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better ways to attract and retain talent

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new staffing strategies for the next-generation accounting firm

by hitendra patil
client accounting services: the definitive success guide

topmost thought leader ronald j. baker said, “the world bank reports that 80 percent of the developed world’s wealth resides in human capital, illustrating that we’ve been in a knowledge economy since the 1950s. yet most accounting firms are utilizing a business model developed during the industrial era, with a relentless focus on efficiency and a ‘we sell time’ mentality.”

more: clients have higher expectations | 8 ways to create your cas practice | the big money in cas for small firms | what cas is and isn’t | do you value your cas value? | the mindset you need for client accounting services
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in his succinct and soul-searching praise for “accountaneur: the entrepreneurial accountant,” baker urged, “from changing your business model to focusing on developing your firm’s human capital, and more – will keep your firm relevant as we encounter an increasingly turbulent and changing marketplace.”
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how to handle referrals with attorneys

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let’s redefine currency: seven forms, and none are cash.

by ed mendlowitz
managing an accounting practice: 202 questions and answers

q: i referred a large amount of business to an attorney friend, and she hasn’t reciprocated. i asked her for a referral fee and she declined. i’d like to keep referring her because she does a great job for my clients and that makes me look good, too. what should i do?

more: audit reports without doing the work? | why partner retreats are worth the cost | why checklists? | ask these 10 questions before adding financial services | selling your practice is not a retirement strategy | thirteen things to know before selling your practice | 10 reasons clients don’t pay
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a: it is always the right thing to look out for your clients’ best interests. referring the best attorney you know for a job is the right thing to do. but…

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