bissett bullet: how healthy is your pipeline?
today’s bissett bullet: “it is no coincidence that the accounting firms that have superior profitability are those taking growth seriously and forecasting their new business income.”
by martin bissett
today's features
five areas to ground new metrics other than time
you need to measure your progress and success, but not by the hour.
by jody padar
radical pricing – by the radical cpa
it may sound ridiculous, but the only people who are married to timesheets are professional services firms staffed by people who spend their professional lifetimes building their knowledge. every other company in the world has figured out how to sell and price products or services without relying on timesheets.
more: five reasons to ditch timesheets for good | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
exclusively for pro members. log in here or 2022世界杯足球排名 today.
why do professional services firms believe you should sell knowledge in increments of time? ron baker, an accounting visionary and author of “firm of the future,” once asked, “when you’re a knowledge worker, should you be selling your time?” i don’t think so.
accounting arc: following a different game plan with vince lorusso
“keep learning, keep your eyes open, and play with technology.”
accounting arc
with donny shimamoto
center for accounting transformation
as a seasoned cpa and founder of trueup, vince lorusso offers a fresh perspective on the accounting profession by merging traditional roles with pioneering educational technology.
more: regenerative accounting: ingrid edstrom pioneers a holistic approach to financial practices | accounting arc: decoupling deib: a nuanced approach with jina etienne | accounting arc: what tech-savvy accountants know |accounting arc: where in the world are you seeing this? | accounting arc:breaking barriers – how becky dupree’s love for data analytics and her identity shaped her professional path
lorusso began his career at pwc, where he spent three years in audit. this foundational experience provided him with essential technical and soft skills. “the few years of audit propelled me to apply my accounting and audit knowledge to various projects,” lorusso tells donny shimamoto, cpa.citp, cgma, in this episode of accounting arc. his subsequent roles in private equity and venture-backed companies allowed him to specialize in streamlining accounting processes and preparing firms for growth.
can’t recruit? retain!
other options: outsourcing, m&a, even freelancers with different skill sets.
by 卡塔尔世界杯常规比赛时间 research
there’s no good news coming out of the talent pipeline. there are fewer accounting majors coming in at the college end, and fewer coming out at the cpa exam end.
the reasons are legion. kids these days have little interest in a career reputed to be boring and exhausting. they can make more money in some other area of finance or business. the extra credit hours take too long and cost too much.
more: the accountant as a strategic business partner | report: efficiency still the top priority for accounting firms | is tech causing both cpa shortage and low salaries? | audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade
exclusively for pro members. log in here or 2022世界杯足球排名 today.
the 2024 thomson reuters state of tax professionals report sums it up with illustrative stats.
- 39 percent say recruitment will be “highly challenging” in 2024.
- another quarter say it will be “somewhat challenging.”
- 33 percent of firms with four or more employees say talent will be a top priority.
rosenbloom: don’t merge for the money
merge to make a better business.
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members.
the disruptors
with liz farr
ira rosenbloom has worked in m&a with accounting firms for years, but things are changing today. the community of buyers is shrinking, so firms are being more selective about with whom they partner. rosenbloom is also seeing more creativity in transactions, and acquiring firms are looking closer at the clients they may be adding.
more podcasts and videos: adam lean: get out of the accountant’s trap | geraldine carter: charging more is better for your clients | vimal bava: when working smarter, not harder, is the only option | dawn brolin says grow your firm by shrinking it | jason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |
“we’re bringing in more clients. are they the right clients?” he asks. “and if we bring in clients from this other firm, and we do some cutting, how do we let that other firm earn some money back?”