today's features
outlook & analysis

tax & accounting firms to see more consolidation

illustration of business negotiation with paperwork, puzzle pieces

also: next gen leadership will rise.

by jennifer wilson
the rosenberg map survey

editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?

unless there’s another round of vaccines, we’ll see more covid-19 disruption as colder weather forces more firm activities indoors. more consolidation will happen as more firm leaders feel pressure to move their problems to a larger firm and the megafirms feel more pressure to keep up with the joneses and absorb more.

more: 2024 outlook: ‘specialization is the future’ | remote work will see cuts; pe will trickle down | tech, capital will drive accounting profession growth | ‘great shakeup’ in cpa firms on the way | pe, consolidations to keep impacting accounting profession | soft skills are front and center
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

at some point, perhaps longer than 12 months from now, one or more of the superconsolidators is going to falter. more than likely is some significant service failures as their lack of integration and acculturation drives turnover and a talent shortage beyond what they’re able to rescue. i hope this doesn’t happen, but it feels like some of these firms are facing a perfect storm of financial performance and growth expectations, high client demand, capacity issues and a less unified, disorganized leadership apparatus unable to respond to these challenges.
read more →

management

five reasons to implement change orders

man and woman looking down at document

plus five steps to follow.

by august j. aquila
price it right: how to value accounting services

accounting firms, like any other professional service providers, may use change orders for several reasons. here are a few key reasons why accounting firms should consider utilizing change orders:

more: why you need progress billing | sixteen marketing activities to try | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  1. scope of work changes: change orders allow accounting firms to document and address any changes in the scope of work requested by their clients. these changes could involve additional services, alterations to existing services, or changes in project timelines. by using change orders, accounting firms can clearly define the new requirements and avoid any misunderstandings or disputes with their clients.

read more →

marketing & sales

bissett bullet: the tortoise will always beat the hare

today’s bissett bullet: “when times are tough, choose short-term lifestyle changes over sacrificing long-term investments.”

by martin bissett

the temptation will always be to cash in an investment in order to enjoy the spoils of your previous discipline and maintain the lifestyle to which you have become accustomed. before you sacrifice your future with no guarantee that you’ll ever catch up on that lost income, have you considered cutting back?

play the long game for your future. run a budget at home and in your business that ensures that you spend less than you earn and that allows you to invest even when times are hard. stay the course slowly but surely and resist the urge to keep up with the joneses.

today’s to-do:

where could you cut back if you had to in order to avoid sacrificing an investment you’ve worked hard toward? make a list of unnecessary outgoings that could be canceled in the event of a reduction in income.

see more bissett bullets here

read more →

marketing & sales

give to receive, and eight more ways to boost sales

confident businesswoman handing man a business card in networking session

these tips work for referrals, too.

by sandi leyva
the complete guide to marketing for tax & accounting firms

networking is an essential part of building your business.

whether you network locally, nationally or internationally, there are some tips that are common to all businesses:

more: five ways to target the low-hanging fruit | eight ways to build busy-season stamina | make your prospect kit stand out | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

1. be crystal clear about what you do and how people can use you. also know exactly who your ideal client is in case you’re asked. if you don’t do this, you’ll leave people scratching their heads about you and they won’t know how to connect with you even if they want to.
read more →