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five marketing mistakes to avoid

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illustration with some employee symbols standing in circlesbe thoughtful about how you seek new clients.

by sandi leyva

as an accounting professional, you’re likely very talented at delivering the service you offer your clients. but when it comes to marketing and selling yourself, many of you didn’t voluntarily sign up for that part. many of you are resisting (kicking and screaming) marketing yourself. if that’s you, that could be why your business is slow or not growing at the rate you’d like it to.

more on small-firm growth strategies: spend your time on the most profitable tasks | seven performance boosters for your firm | why your google ranking is about to tank | seven tips to keep the clients you have | 12 ways to stress less this busy season | six ways to make your own history during women’s history month
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we all hope we will have enough referrals so that we will never have to sell ourselves. but in the last few years, referrals, even for those of us with huge followings, have slowed down. it’s (past) time that we work on more fully developing the marketing and selling function of our businesses. as you do, here are five mistakes to avoid.
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assessing your firm

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diagramfor a true baseline, bring in a consultant.

by anthony zecca
leading from the edge

now that we have completed an assessment of your leadership team and your leadership, the third leg is assessing the overall performance of the firm. this assessment, coupled with the assessment of the leadership team and your leadership, provides a strong foundation upon which to build the roadmap (strategies) for moving the firm from where it is today to a standout, high-performing firm. the underlying objective for this assessment of the firm is to have a factual basis for establishing a myth-free and accurate baseline of the firm by analyzing a number of key characteristics.

more on edge leadership: assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
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what are the major areas of focus for the firm assessment? in center-led firms, the assessment of how well the firm is doing is generally focused around financial metrics. how much profit did we make? what was our growth? what was the change in average partner compensation? what profit percentage to revenue did we achieve?
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how long should it take to make partner?

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hourglass on money backgroundyour top candidates might not want to wait.

by marc rosenberg
the role of the managing partner

accounting today published a very interesting piece of research titled “the long path to partner.” the polling question: how many years does it take to make partner at your firm?

more: how a good managing partner impacts profitability | the 9 biggest merger pitfalls | 10 ways to hold partners accountable
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the results:

  • less than 5 years: 9%
  • 5-7 years: 12%
  • 8-9 years: 12%
  • 10-13 years: 30%
  • more than 13 years: 17%
  • don’t know: 20%

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coaching the right way

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dom cingoranelli joins steven sacks and judy trepeck.

^ click to play video

with steven sacks
the new fundamentals: thriving in disruption

with an increasing number of accounting firms embracing employee coaching, it’s becoming clear that many just aren’t doing it right, practice management advisor dom cingoranelli tells steven sacks and judy trepeck in an exclusive new 卡塔尔世界杯常规比赛时间 discussion.

more: nancy fox: winning the mind game of success | gary cokins: the truth about activity-based costing | when cyber-crime hits close to home | james lopiccolo: sell service, not hours | the cpa’s best role: leveraging knowledge, not just process | five common negotiating mistakes | courtesy still matters | bigger firm, bigger thinking | 5 steps to better time management | swot’s the purpose? | is your firm’s culture a magnet or a repellent?

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

“there are more and more firms who are really taking seriously their investment in their people,” says cingoranelli, emeritus founder, senior consultant at succession institute llc. “they understand that for the long term they need to develop their intellectual capital. and they realize that it’s not going to happen by itself.”

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what + who leads firms to better service

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maze with word "plan" at the centeryou need commitment + competency.

by gary bolinger

you may remember the old abbott and costello routine “who’s on first.” after some back-and-forth dialogue, we get to “all i’m trying to find out is what’s the guy’s name on first base?” abbott responds, “no. what is on second base.” after some more banter, we finally learn that “i don’t know is on third base.” baseball almanac says that this is “one of the most famous baseball comedy acts to ever take place.”

more: how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
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setting all of this up, lou costello said to bud abbott, “if you’re the coach, you must know all the players.” and that is a true statement. you need a good understanding of your players’ (who) competencies (what). a partner must know all the players’ strengths and weaknesses.
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how to get promoted to manager

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bonus: 12 questions to ask of staff.

by marc rosenberg
the rosenberg practice management library

cpa firms have many different titles or positions. we’ll address the most common:

  • staff
  • senior
  • manager

more: how to create a path to partner | making partner: what managers need to know | the 17 rules for making partner at a cpa firm | who shouldn’t be a partner? | nine reasons people are promoted to partner | how to make partner?
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i often use the term “staff” to refer to anyone who is not at the partner level. this is different from a “staff-level” associate, who typically has only a few years or less of experience in public accounting. this post addresses what it takes to advance from staff to senior and from senior to manager.
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nancy fox: winning the mind game of success

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how to overcome the mind-blocks holding you back from total success.

^ click to play video

with steven sacks
the new fundamentals: thriving in disruption

professionals need to use a blend of psychology and strategy to guide them with both mental fitness and tactics to produce career breakthroughs, executive coach nancy fox tells steven sacks.

more steven sacks: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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in business, the mind is 95% of the game, according to fox, so it’s essential to recognize the causes of mindset blocks that are encountered, such as competition and business development, and what their impact can be.


> download and subscribe to the podcast on itunes here

key takeaways:

  • leaders may not understand the nuances or fundamentals of mentoring and cultivating talent. as such, they find the biggest impediments to be themselves.
  • the conscious mind is where our thoughts are directed in such areas as logic, strategy, memory, learning, data analysis. however, 95% of our thoughts are directed by the subconscious mind, and only 5% by our conscious minds.
  • the subconscious mind is where the inner game of work, career, and life is really won — or lost.
  • there are some strategies you can use to train your mind to prepare yourself to experience an outcome and imagine ways to achieve that outcome.
  • in addition to training your mind to block negative thoughts and experience only positive thoughts, there are physical techniques that can be used.

nancy fox is the founder and president of the business fox, a business consulting and training company specializing in guiding law, accounting, and service business firms grow through smarter networking and business development and niche marketing strategies.

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don’t ignore life insurance

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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 presentit’s an important part of wealth management.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

a percentage of accounting firms have chosen to be compensated by delivering financial products – specifically investment management and life insurance. these firms see wealth management as a way to deliver greater value to clients. there are also solid business reasons for the decision, such as the profitability of wealth management practices, including the potential for consistent revenues.

more: adultery and other messy situations | how to attract the super-rich
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the best wealth management practices – anywhere – tend to be all about developing a deep understanding of their clients’ goals and concerns. with these insights, wealth managers evaluate how they can use the range of financial strategies and products to help their clients’ achieve their agendas.
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how today’s staffing crisis can forecast your future

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copyright 2021 rick telberg. all rights reserved

you can read the tea leaves in who’s getting hired today because they’re the generation that will re-define the tax and accounting firms.

by steven e. sacks
the new fundamentals

the accounting profession is at a crossroads: increasing pressure on keeping up with technology to serve more varied and complex clients, while a quick peek at the landscape indicates the ongoing struggle to attract and retain talent.

more: 7 signs your accounting firm agreement falls short | effective networking is an art | courtesy still matters | bigger firm, bigger thinking | 5 steps to better time management | swot’s the purpose? | is your firm’s culture a magnet or a repellent? | click here for more by steven sacks
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but what is meant by this, actually?

what will be the type of necessary talent? will it be a mixture of technical gaap and gaas know-how and technology-driven knowledge like artificial intelligence? or will the necessary technical expertise be superseded by a deep understanding of blockchain technology and data analytics? if that, then how will firms draw the right people to deliver the value-added services that leverage technology?

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spend your time on the most profitable tasks

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check the priorities on your to-do list.

by sandi leyva

the next few months are the most challenging for cpa firms when it comes to managing time and getting things done. sometimes it’s hard to figure out what to work on next because there is so much work to be done. it’s easy to lack focus and end up working on unprofitable, yet urgent tasks.

more on small-firm growth strategies: seven performance boosters for your firm | why your google ranking is about to tank | six ways to make your own history during women’s history month | ppp client fraud: how much risk is too much? | 3 ways to opt out of any downturn | how to lead in a crisis | 7 tips to keep the clients you have
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the case of the car wash task

when my husband and i relocated from texas to california for his new job, one of my moving tasks was to get my car to the new state. i decided to drive because i had a really fun sports car, an audi tts. when i got to california, the car was filthy on the outside and really needed a wash.
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better understanding = better communication

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overhead view of five people in a meetingdisc helps remote team work together effectively.

by jody grunden
building the virtual cfo firm in the cloud

working in a remote environment can be great, and it can also have its challenges. communication is one of the biggest hurdles distributed companies have to overcome. to tackle this issue head on, summit cpa has implemented many initiatives.

more: why your firm’s core values matter | when value billing eliminates guesswork | make tech your ally in protecting clients | be more efficient with tech stacks | put bots to work for you | not all employees want the same perks | not all employees will work out | uncover potential in 10 interview questions | what running a virtual cpa firm really costs | learning to love video calls
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one of our favorites is the disc profiles. let me start off by telling you a little bit of the background on the disc profiles.
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12 ways to stress less this busy season

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calm balanced businessman sitting outdoors on bench in yoga lotus pose meditating, with office building and blue sky in backgroundtips that are quick and low-cost.

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

i don’t want to stress you out, but we really do need to do something about our stress levels, especially during tax season. an american psychological association survey showed that our kids are getting headaches, having difficulty sleeping, and eating too little or too much because of pressure from school and household finances. the worst part is that the study showed that most parents were not aware of the severity of their children’s stress.

more on small-firm growth strategies: six ways to make your own history during women’s history month | clubhouse: hottest new social platform or just more noise? | who’s offering your clients ppp services? | ppp client fraud: how much risk is too much? | survey: who’s not billing for ppp services? | add these money-making rituals to your work day | 3 ways to opt out of any downturn
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many adults reported not knowing what to do to change their lifestyle so they could reduce their stress, so it just makes sense to talk about this a little.
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