bissett bullet: this too shall pass
today’s bissett bullet: “you will undoubtedly encounter challenges in business, just as there will be good times. the important thing to remember is that neither lasts forever.”
by martin bissett
today's features
don’t make firm profitability a goal
an example from outside the accounting profession.
by marc rosenberg
the rosenberg practice management library
it has been said that organizations should never have profitability as a goal. why? because profitability should be the result of an organization’s efforts, not its goal.
more: core values: why your firm needs them | five keys in compensating new managing partners | what partners do and don’t deserve | five steps to transition to partnership | disturb the present to improve the future
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profitability is a measure of success in accomplishing core business goals. the disney corporation probably says it best in their mission statement, which is short and sweet, but very powerful: “our mission is to make millions happy.”
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get clients to understand firm processes … or say goodbye
with just a little advanced marketing, you can get paid year-round and have more satisfied clients.
by frank stitely
the relentless cpa
when i’m frustrated, here’s how i explain the importance to clients of letting us work our process:
“when you get your car repaired, you don’t look over the mechanic’s shoulder and tell him which wrench to use. the same principle applies to us. if you knew the best ways to prepare tax returns, you should become our competitor.”
more: train now before it costs you down the road | keep clients from “balance due” shock | it’s ok to say no to clients (even the large ones) | you train your clients, whether you mean to or not | business owners face one of three exits | how small firms can win the talent wars | do you know your turnaround time?
let’s be perfectly honest with each other.
there’s a reason you aren’t actively training clients to allow you to work efficiently. you’re afraid that you’ll lose clients.
i guarantee that you will.
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cas challenge: no staff, no services
demand isn’t a problem, but supply might be.
by 卡塔尔世界杯常规比赛时间 research
the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities and trends survey asks 23 questions about client accounting services. early results clearly reveal certain emerging issues:
more cas survey: cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
- a majority of cpa firms (59 percent) now offer cas, and a lot more (21 percent) may soon join them.
- a sizable portion of clients want these services.
- staff shortages and training are the biggest challenge (for 30 percent) and biggest obstacle (for 44 percent) to offering cas.
use timesheets for productivity, not billing
back office support calls for flat rates. here’s why.
by penny breslin
it’s not just the numbers
let’s get to the big questions that confound professional service providers of all types in today’s tech environment:
- how do i charge my client for these services?
- how do i continue to get paid?
- how do i charge hourly for processes that will be taking less and less time because of the application of technology?
more: best practices for source doc permissions and handling | sixteen guidelines for naming conventions | you have to manage three kinds of procedures | tech tips for back office support | decoding accounting tech (and all those acronyms) | digital marketing strategies level the playing field | eight tasks to delegate today | advisory services done your way
fixed pricing
flat-rate billing is the logical choice for back office support (bos) services. this fixed pricing is typically used for monthly recurring work. we can do this by knowing how long it takes to create any given transaction. there will be swings in time, but the idea is that the fixed monthly rate considers the busiest season or months for the business. that way, on less heavy months, you receive the same rate and it makes up for the times when the workload increases.
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