today's features
advisory & consulting

private equity and the future of client advisory services

what to watch for now and over the next 10 years.

by hitendra patil
client accounting services: the definitive success guide

the accounting profession has experienced an unprecedented increase in private equity (pe) and private credit activity in recent years, significantly transforming the landscape of client advisory services (cas).

more by hitendra patil
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let us explore why pe firms are interested, how these deals work and what it all means for the advisory-cas movement. whether your firm is courting outside capital or not, these shifts signal where the profession is headed and how to future-proof your role within it.
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featured video

garrett: embrace your ‘and;’ transform firms | gear up for growth

your job title doesn’t define you. your ‘and’ does. 

this is a preview. the complete episode is first available exclusively to pro members | go pro here
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gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

“if we make sure that people are doing their ‘ands,’ they’re going to accidentally do their best work,” says john garrett, author of “what’s your ‘and’?” and stand-up comedian. during his appearance on gear up for growth, hosted by jean caragher of capstone marketing, the self-described “recovering cpa” says, “they’re going to accidentally stay. you’re going to attract more talent. you’re going to attract more clients. everything good is going to happen from that.”.  

more gear up for growth here. | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here

garrett says your job title doesn’t define you, your “and” does. an “and” is a passion, hobby, or interest outside of work that makes people unique and memorable. “you’re not a cpa; you’re a human being that does accounting work. you’re bigger and better than a tiny, little job title,” he explains. 

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2022年世界杯抽签

bissett bullet: strike while the iron is hot

today’s bissett bullet: “business owners are busy people. if they already have an accounting firm and have asked or agreed to spend time meeting with you, you can safely assume they’re open to change. don’t lose momentum.”

by martin bissett

picture this scenario. you’ve met with a potential client and it’s gone well. they may have given you a tour of their offices, you’ve talked through their issues and you know you can help them but the meeting has reached its natural conclusion and this is when you say goodbye and promise to send a proposal. don’t do that.

instead, tell them that you have identified several ways in which you can help them and need to put some thought into the best solution. suggest the second meeting for a date that gives you sufficient time to prepare your proposal. if they are resistant to meeting again when they’ve been willing to invest time into speaking with you, then that should be a red flag that something has gone wrong during your meeting.

today’s to-do:

there is a very real possibility that the above approach will be met with a request for your proposal to be emailed. practice doing the following so that it feels natural when you next have a conversation with a potential new client:

ask who else in the business is involved in the decision to hire another accounting firm and when would be convenient to get everyone involved in the process in a room so you can share your thoughts with them all and give everyone a feel for what it would be like to work together.

see more bissett bullets here

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leadership

will your success be incremental or exceptional?

eight forces that have altered the future of accounting firms.

by anthony zecca
leading from the edge

“all organizations are perfectly designed to get the results they are now getting. if we want different results, we must change the way we do things.” – tom northup, author of “five hidden mistakes ceos make”

what a great statement not just about accounting firms, but all organizations – “perfectly designed to get the result they are now getting.” there is another old saying that goes something like this: “if you want different results you have to do things differently.” center leaders hold onto the status quo whereas edge leaders constantly push the envelope of what is possible – pushing to the future edge.

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

leadership is a topic that has been researched, talked about, written about, training sessions built around, and endless models developed – yet it is also one of the most challenging issues in most firms today. over my career, i have worked and consulted with leaders of all shapes and styles and firms that experienced varying degrees of success. based on working with hundreds of companies, my conclusions – and two of the primary reasons that drove me to write my book – are that in many cases, firms are performing below their capabilities and every firm has the potential to reach higher levels of performance if and when leadership moves from the center to the edge. edge leaders want to be at the top of the pack when it comes to all metrics that matter whereas center leaders are content to remain average.
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growth strategies

four practical case studies of real advisory success

woman and man meeting in office; chart on his laptop screen

and four lessons learned.

by jackie meyer

you’ve already heard the story of one of my first high-net-worth clients – an executive preparing their own tax return, making costly errors and ultimately turning to me for help. let’s revisit this example with a deeper dive into the transformation and outcomes.

more: your balanced millionaire journey begins now | how to cultivate holistic wealth | five hard-earned lessons from exiting an accounting firm | it’s never too early to plan your exit strategy | beyond blocking: more time management strategies | reclaim your hours with time management and productivity hacks | master the roi method: price for value, not time
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

case study 1: from $150,000 in tax savings to 1,400 percent roi

the situation: this client was an executive with a complex financial situation, including private equity investments that generated dozens of k-1s. when i initially reviewed his self-prepared return, i found that he had misclassified a capital gain sale as royalty income, which led to an overstatement of income by hundreds of thousands of dollars. in 2012, i charged him an hourly rate of $150 to amend the return and correct the mistake. this simple fix saved him $150,000 in taxes.
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