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michelle golden-river: break the billable hour | gear up for growth

firms that price for time rather than value are holding themselves back.

gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

for decades, accountants have relied on billable hours, tracking time spent on client work and invoicing accordingly. however, according to michelle golden-river, ceo of fore llc, this model is fundamentally flawed.

“accountants have taken their cost structure—allocating hours to clients and projects—and turned that into their revenue model,” she explains. “they’re not supposed to be the same thing.”

gear up for growth spotlights the best strategies for smart and effficient growth in today’s competitive landscape. more gear up for growth every friday here.|  more capstone conversations with jean caragher every monday | 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

despite the evident inefficiencies, many firms remain resistant to change. david yeghiaian, chief strategy officer for kerberrose, noted that the biggest hurdle is uncertainty: “they’re just not used to it. there’s a fear of getting the pricing wrong—what if i estimate too low? what happens if a client expects more than i anticipated?”

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outlook & analysis

what’s keeping firms from growing?

data chart

despite ideal market, challenges obstruct expansion.

by 卡塔尔世界杯常规比赛时间 research

if cpas were farmers, they’d be praising the fertile fields, the shining sun, the plentitude of rain.

to put that in terms more accounting than agricultural, the market is rife with clients, the need for accounting and tax work has never been stronger, and rainmakers have never had an easier time of seeding the clouds for showers.

more: five ways to fill the staffing gap | top 10 red flags to watch for in accounting offices | arc | deals 2024: over 100 cpa firm mergers and acquisitions | barry melancon: private equity and the partnership | gear up for growth | does your firm suffer cultural deficiencies? | audit fees continue to climb | cfos see ai as top risk and opportunity | does accounting belong in stem? | accounting arc | opportunity awaits incoming aicpa ceo | artificial intelligence may already be plateauing | regulation, geopolitical instability spark concern
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but that doesn’t mean that growing an accounting firm is as easy as growing corn in kansas. just as firms have every chance to bring in more clients, and better clients, they find themselves needing to clear some serious obstacles before they can move ahead.
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pricing, fees & billing rates

get your legacy clients on board with value pricing

seven steps to transition your firm.

by jody padar
radical pricing – by the radical cpa

until this point, we’ve spent a lot of time talking about the advantages of building a client-centric practice on a foundation of value pricing. now it’s time for the rubber to hit the road. let’s talk about how you can painlessly move from a past filled with billable hours to a bright new future built on value by exploring your current client base.

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

 

let’s start at the beginning: finding the right clients to embrace your new way business model. take a look at your current clients and bucket them into three categories:

  1. those who love you and will follow you to the ends of the earth
  2. those who’ve been with you for years and are reliable
  3. those difficult, tech-challenged clients who are somewhat less than ideal

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2022年世界杯抽签

bissett bullet: many sources of rain

today’s bissett bullet: “a proactively managed pipeline has several components, all working together to afford you the ability to accurately forecast fee growth for your firm.”

by martin bissett

what makes a great pipeline for your firm?

firstly, consistent priming. continuous work carried out on new opportunities. secondly, a solid foundation. new client opportunities should only be worked on by members of your team who understand how to control the process of sale through to conclusion.

you also need many sources to feed this pipeline. you may choose to rely mainly on referral business as your warmest prospects, but what if those dry up or aren’t the size of fee that you need them to be? lastly, you need a scheduled and managed review of your pipeline with accountability for turning opportunities into money.

today’s to-do:

do you have all of the above in place? when was the last time you reviewed your pipeline? set aside some time to identify what is working well for you and where you could improve the process.

see more bissett bullets here

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accounting arc

doug slaybaugh: coaching unlocks professional success | arc

“coaching isn’t about fixing people—it’s about helping them unlock their full potential.” 

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accounting arc
with donny shimamoto
center for accounting transformation

for many accountants, career progression follows a predictable path—graduate, gain experience, and work toward a leadership role. however, as the industry transforms, many cpas find themselves seeking something beyond technical expertise: personal growth, leadership skills, and work-life integration. 

that’s where doug slaybaugh, cpa (a.k.a., the cpa coach), comes in.

more arc: analysis, reaction, comedy

 

more accounting arc: demystifying accounting governance |  top 10 red flags to watch for in accounting offices | jeremy dubow: private equity as a catalyst for growth | break the burnout cycle in accounting | accounting in transition: 2024 reflections & the road ahead | ron baker: visions for the accounting profession | angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change

a former big four auditor and regional firm partner, slaybaugh now dedicates his career to helping accountants thrive through professional coaching. 

slaybaugh’s journey into coaching wasn’t a straight line. after spending years in public accounting, rising through the ranks at arthur andersen and later price waterhouse, he realized his passion wasn’t just in financial statements—it was in people. 

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