today's features
pro member exclusive

get the right people on the bus

 

people gathering in the shape of an arrowshift from serving clients to serving and developing leaders.

by jody grunden
building the virtual cfo firm in the cloud

“once you recognize that the purpose of your life is not to serve your business, but that the primary purpose of your business is to serve your life, you can then go to work on your business, rather than in it, with a full understanding of why it is absolutely necessary for you to do so.” – michael e. gerber, “the e-myth revisited”

more by jody grunden
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as our team was growing and we reached over 30 team members, we recognized the need to establish a formal leadership team. when we were smaller, it worked fine for adam and me to be the primary decision makers, but as our client base and workload grew, we realized we would become a bottleneck and slow things down. at that point, we made a conscious effort to transition our daily tasks and client responsibilities to other team members so we could remove ourselves from the weeds and focus on the higher-level view of the company.
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featured video

tyree: cracking the code for successful m&as | gear up for growth

trust, values, and local connections are fueling the national rise of one of accounting’s newest top 50 firms.

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

4impactdata: 10x your advisory. not your headcount

“if we say we’re going to do something, we’re going to do it. and that’s how you build trust,” says josh tyree, president of sorren, during an episode of gear up for growth. host jean caragher, president of capstone marketing, sat down with tyree to discuss how the newly-formed top 50 firm – created by the combination of 13 bdo alliance firms – is navigating large-scale integration while laying the foundation for national growth. 

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

the conversation reveals two critical lessons for cpa firms considering mergers or expansion.

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leadership

five questions about leadership vs. management

group of businesspeople hiding their faces behind question mark signs at office

do you see yourself in either of these two businesses?

by anthony zecca
leading from the edge

let’s look at examples of managing versus leading from two actual clients.

stuck in managing – center leadership

i was retained by the owner/ceo of a $40 million manufacturer of a home products company. the current leader inherited the business from his dad, and over 20+ years grew the business on the top line, but always struggled with profitability. over the last few years, however, there was no top-line growth and he was frustrated.

more by anthony zecca
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his leadership view of the future was the next quarter, and the company had no strategy or vision beyond the current year. the most he thought about the future was when they were preparing their annual budget. this was an incremental process versus a real bottom-up process coupled with a growth strategy so as a management tool, the budget was relatively useless.
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growth strategies

your balanced millionaire journey begins now

woman pulls pack storm page and reveals sunset.

how to bring it all together.

by jackie meyer

this is is the beginning of your revolution. you’ve journeyed with me through the trenches of hourly billing, felt the weight of burnout, and witnessed the exhilarating transformation to a seven-figure advisory firm built on my terms.

more: how to cultivate holistic wealth | five hard-earned lessons from exiting an accounting firm | reclaim your hours with time management and productivity hacks | hiring strategies for your dream team | streamline your operations with systems and processes | from compliance to advisory: shifting the value proposition | how i became an accidental entrepreneur
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but this story, this blueprint, it was never truly about me. it was always about you, about the spark within you waiting to ignite. you’ve seen me go from an exhausted cpa, trading time for dollars, to an empowered entrepreneur, crafting a life where work supports my dreams, not suffocates them. and now, it’s your turn to step into that power.
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2022年世界杯抽签

bissett bullet: ask the expert

today’s bissett bullet: partner: “we tried this before and it didn’t work.”
mb: “based on your analysis of that project, why didn’t it work?”
*silence*
partner: “dunno.”

by martin bissett

“we tried marketing and it did not work” is a refrain often heard from the managing partner’s office. this is because they neither understand marketing nor understand the failure or success thereof. to understand the subject, we first must master it, so bear in mind that to understand what makes a great marketing person or a great marketing campaign, we first must understand the discipline itself.

today’s to-do:

take advice from a leader in their field about what works and what doesn’t in terms of professional services marketing so that you can delegate the task of marketing your firm in the future with the assurance and discernment that you know what works and what doesn’t.

see more bissett bullets here

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accounting arc

gen z redefines careers | arc-slc

students push for networking, compensation clarity, and creativity as the path to success in a changing profession.

sponsored by 4impactdata: start delivering scalable advisory in weeks–not months: see today’s special offer

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4impactdata: 10x your advisory.
not your headcount

accounting arc – student-led conversations
with chayton farlee
center for accounting transformation

when dominic piscopo, cpa, compared his first big 4 paycheck to his weekend bartending income, he had one reaction: disbelief. “i clocked 100 hours during busy season, and the check wasn’t much different than what i made in two nights at the bar,” he recalls.

more accounting arc: bootleggers, baptists, & cpas: rethinking licensure | cpa firm ownership under fire | walking violation: when showing your cpa gets you in trouble | audit bags to tiktok tags, gen z talks success | students challenge accounting’s traditional career path | true grit: recognizing struggles that shape our successes | more admins, fewer students, no plan | what career advice gets wrong for gen z – and how to fix it |your identity is not a liability | what happens in vegas… gets reported on a tax return | burnout, be gone: accounting needs a boundary breakthrough | the ultimate business hack you’re probably ignoring | resilience, real talk, and the road to mental wellness | blockchain could still reshape accounting | what gen z wants from business | firm differentiation depends upon client service

instead of shrugging it off, piscopo started asking questions—lots of them. he gathered salary data from peers across firms and discovered his cohort was underpaid compared to the market. presenting the numbers to leadership, he helped secure a nearly 10% raise for his entire group.

“that was the moment i realized transparency could change the profession,” piscopo says.

piscopo shares the story on accounting arc: student-led conversations, hosted by accounting student chayton farlee. the two explore how networking, pay transparency, and building side projects can help students and young professionals stand out in an industry struggling to recruit and retain talent.

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marketing & sales

fourteen ways to get the right clients

you should be selective. here’s how.

by august aquila
max: maximize productivity, profitability and client retention

marketing should be about mainly getting the right clients for your firm – clients who will help you achieve your financial and strategic goals.

more by august j. aquila
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it’s often been said, “no profits, no firm.” firms can attract the right clients through a combination of strategic marketing, networking, reputation building and providing excellent service. here are some steps and strategies that can help a cpa firm attract the right clients.
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management

back to basics: where is the cash?

person on roof wielding fire hose spewing out paper currency

profits don’t mean anything if they’re not backed.

by ed mendlowitz
77 ways to wow!

cash is the lifeblood of a business. cash amounts. cash flows. cash changes. no matter what anyone tells you, cash is the bottom line you must watch and accumulate.

more by ed mendlowitz
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simplistically, knowing your cash balance gives you a sense of how you are doing. if it goes up, you are making money – if it goes down, you are losing money.
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pricing, fees & billing rates

make your kpis more meaningful

what are employees working toward? they need to know.

by jody padar
radical pricing – by the radical cpa

key performance indicators separate the signals from the noise. throwing timesheets into the trash is your opportunity to focus all your attention on what is most important to your firm’s continued success.

more by jody padar
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good kpis are quantifiable measurements agreed to beforehand. they must be important to the organization as a whole and specific. here are a few examples you might consider adopting:
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pro member exclusive

are automation and ai killing entry-level jobs?

where the jobs aren’t.

by 卡塔尔世界杯常规比赛时间 research

the tax and accounting sector is shedding more jobs, with women and nonsupervisory workers feeling the brunt of the decline.

more staffing & recruiting | how disc profiles help remote teams | meet your new boss: gen z | accounting influencers |  kassi rushing: leadership gaps, not motivation gaps, hold firms back | gear up for growth

a new analysis by 卡塔尔世界杯常规比赛时间 reveals the profession may be holding headcounts near historic highs but gradually reshaping itself. women hold 62.1 percent of jobs, down from 63.4 percent a year ago — the sharpest one-year drop in female workforce share since 2010. supervisory staff, meanwhile, make up 9.7 percent of total employment, up from 9.3 percent last year, reflecting a slow but steady increase in managerial presence, while nonsupervisory employment is down 3.6% year over year. read more →

growth strategies

five fixes for floundering firms

plant seedlings growing out of coin stacks , both increasing in size

taking steps “little and often” works, but only once you get started.

by martin bissett
passport to partnership

a big concern in recent years has been how the incoming partners will purchase equity or fund the capital account and exit of a retiring partner.

much has been written that examines the mathematical complexities of this topic but the bottom line is simple. would-be partners in the age demographic of 28-42 are part of a generation who are already heavily borrowed in the form of credit card debt, mortgage debt and other forms of personal loans.

more by martin bissett
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their capacity to borrow in the current economy is extremely limited and it would appear that this will be the environment for the foreseeable future. in turn, banks’ willingness to lend has also been largely withdrawn in recent years.
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featured video

telka: transform fear into fuel | the disruptors

mindset shifts, gut instincts, and the right mentors matter most when starting your own firm.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by 4impactdata: start delivering scalable advisory in weeks–not months: see today’s special offer

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss

4impactdata: 10x your advisory.
not your headcount

the disruptors
with liz farr

making the shift from employee to entrepreneur isn’t always easy, as questian telka, founder of reqoncile financials and co-host of the she counts podcast, discovered. besides the obvious pieces of getting business licenses and opening a business bank account, telka believes it’s essential to keep your reason for starting your business – your why – firmly in focus.

“if i lose sight of that why, then i am continually getting away from what it is that i enjoy about it, why i’m doing it in the first place,” she explains. 

卡塔尔世界杯常规比赛时间 celebrates:the 100th episode of the disruptors

more streaming: woodard: move past reports; deliver results | baker: find true purpose to end burnout | brolin: the w.i.n. leadership formula | gertrudes: how eos & “unreasonable hospitality” reshaped growthlab | vilms: the power of people in a tech-driven world | dickerson: from diagnosis to disruption | kapilovich: treat people like people | martha yasso: from wall street to main street | jackie meyer: tax plans in 90 seconds? believe it  | erica goode: build a $200k firm in 15hrs/week | randy crabtree: live at the intersection of passion & skill |mcclelland and telka: women ready to rewrite the rules of accounting | jacob schroeder: ai won’t replace accountants—but it will reveal who’s replaceable | ditching corporate america: the bold story behind pbs accounting’s rapid rise | jean zick: happy team = happy clients | breslin & greathead: be a client advocate | dominic piscopo: clear pay=bargaining power | debbie kilsheimer: stop thinking small |

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for telka, her why centered around “having a little bit more freedom and flexibility to spend time with family, being able to take on my ideal clients.” without the centering influence of a strong why, entrepreneurs may risk working with clients who don’t fit their ideal client profile.  

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