today's features

the when, what, how of cas

weave review actions into your processes.

by hitendra patil
client accounting services: the definitive success guide

why review your client accounting services offering periodically?

most accounting firms ultimately optimize their internal processes and resources that produce their services. the measurement of such optimization is the profitability of the firm. when firm owners/partners feel the pressure on profitability, it is natural for them to measure the factors that contribute to profitability, and the cost thereof.

more: your sales success is your proof | three keys to developing your cas sales process | your clients’ words = your new cas marketing | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas
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you can measure the performance of your cas offering in similar ways. but there is a difference that makes cas performance measurement processes somewhat unconventional. it is not just for the cost and profitability parameters you will measure, but because cas is about outcomes your cas clients (are supposed to) receive/experience, measuring the “promise fulfillment” of cas is a necessity. and if you do not do it periodically, at pre-decided intervals, it can be challenging to course-correct when it is too late.
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voting on ownership basis? three better methods

four people seated around conference table, one with thumb pointed down

maybe one-partner, one-vote isn’t working.

by marc rosenberg
the rosenberg practice management library

most firms vote on a one-person, one-vote basis despite varying ownership percentages.

but is that always the best way? here are three better ways.

more: what partners do and don’t deserve | tell potentials what partnership takes | fifteen big questions for your next strategy session | five steps to transition to partnership | disturb the present to improve the future
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voting done on an ownership percentage basis:

  1. essentially “disenfranchises” the minority owners. their vote doesn’t mean much, and it becomes tantamount to not having a vote at all. when they have no vote, they tend to get disenchanted and cease acting like partners. they may eventually leave.
  2. gives too much power to the majority owners.

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eight ways to build busy-season stamina

attitude is key, but can only do so much.

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

busy season is just around the corner. can you feel the excitement? or the dread?

here are eight ways to boost your stamina and minimize burnout for those of you who are working long hours in the weeks ahead.

more: five things that clients don’t know about accountants | are your revenue projections realistic? | six strategies to make more without working more | the art of prompt engineering for accountants | calculate your business relationship ratios | five ways to acquire more clients | five stages of any business | put your linkedin profile to work | what’s in a (domain) name? plenty
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1. understand the physical limitations of “willpower.”

according to scientists, our willpower is replenished every morning after a good night’s sleep. it’s strongest in the morning (even if you’re an evening person like me), and it wanes throughout the day. the more stress you’re under, the faster it depletes during the day, and sometimes your willpower runs out before the day does.
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bissett bullet: show them the value

today’s bissett bullet: “if we demonstrate that we can create more wealth for our client than it will ever cost them to hire us, price sensitivity starts to diminish.”

by martin bissett

the objection or concern phrased as you’re too expensiveis the most common one experienced in the accounting profession, bar none. you’re too expensivesimply means i do not understand why i should pay this much money. that is the prospective client telling you that you have yet to make a case strong enough for them to change from their current accountant at the price you’re asking. once you overcome that, watch fee sensitivity disappear before your very eyes.

today’s to-do:

how strong is the commercial case for working with you and your practice? what value do you actually deliver that other firms don’t, won’t or can’t? until you know that, do not expect the prospects to know that either.

see more bissett bullets here

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tech, capital will drive accounting profession growth

business hand holding hot chart in crystal ball

how much? faster than the rest of the economy.

by terry putney
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?

the private equity model is still unproven in the minds of many cpa firm partners as there are no examples of a secondary market for the investors of cpa firms. private equity investors in other professional disciplines like veterinary, dental and engineering have experienced success with attracting secondary and tertiary investors.

more: new energy comes from new ways of doing business | outsourcing, remote work will help firms grow capacity, revenue | private equity leading to corporate-style cpa firms | pe, consolidations to keep impacting accounting profession | a 40-hour workweek is feasible | five ways staff shortages are changing firms forever | soft skills are front and center
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

until we see that happen in accounting, there will remain some skepticism about the viability of this business model. it is not my skepticism. but accounting firms that are considering private equity are expressing that as one of their concerns.
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