today's features

3 steps to start running on millionaire time

stop “non-profit” tasks and start making more money in your practice.

by sandi smith, cpa / exclusive to 卡塔尔世界杯常规比赛时间
accountant’s accelerator

let’s do the math. to earn a million dollars in a year, you have to bring in $83,333 per month. assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. if you want to make five million in one year, you will need to charge $5,000 per hour.

here’s some breaking news: you won’t get there doing tasks that are worth $10 per hour. even if we drop a zero and aim for six figures in a year, you won’t get there doing $10 per hour tasks either. at six figures, you’re worth $100 per hour.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间:  5 mistakes to avoid when seeking new clients  the top 12 business card blunders accountants make   seven tips to keep the clients you have how to attract clients like a magnet eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors • five tips to manage your ‘overwhelm’ level • easy ideas for a quick business boost • four new mega-trend marketing strategies • how to stop leaving money on the table

the difference between poor people and rich people is simple: one values the scarcity of their time and uses every minute wisely, and the other doesn’t.

here are some tips to help you start thinking like a millionaire, which is the first step to becoming one: read more →

profitability and the value of strategic thinking

“to succeed, we have to disturb the present.”

by marc rosenberg, cpa / exclusive to 卡塔尔世界杯常规比赛时间 
author of what really makes cpa firms profitable 

roberto goizueta, the late chairman of coca-cola, and certainly one of the top two or three ceos of the last 20 years, said it best: “challenging the status quo when you have been successful is difficult. if you think you will be successful running your business in the next 10 years the way you did the last 10 years, you’re out of your mind. to succeed, we have to disturb the present.”

more accounting firm management strategies: the five essential building blocks for creating a strong accounting firm  | the seven signs of great leadership in a cpa firm | the 10 biggest mistakes cpa firms make in reading map statistics | new rosenberg map survey says cpa firm revenue growth re-accelerating | five skills that separate winners from losers in the accounting business | don’t ask a cpa what profitability means | the essence of cpa firm profitability | compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” |

compared to most vocations, cpa partners make a pretty good living. their success has been attributable primarily to a combination of the following: read more →

asking an attorney for a referral fee

how to capitalize on your “business currency” with better referral strategies.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

browse more from ed here:   are partner retreats really worth the cost?   |   audit reports without doing the work?  | should i really spend the time making checklists?   |  what’s a tax practice worth today?preparing to sell your practice in a few years? 13 things you need to know today     |    10 questions to ask yourself before you decide to add financial services to your practice   |  why selling your practice is not a retirement strategy | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

question: i referred a large amount of business to an attorney friend and she hasn’t reciprocated.  i asked her for a referral fee and she declined.  i’d like to keep referring her because she does a great job for my clients and that makes me look good too.  what should i do?

read more →

getting the client is only half the battle

four must-do’s for outstanding client retention.

by bruce w. marcus / exclusive to 卡塔尔世界杯常规比赛时间
professional services marketing 3.0

in the cpa firm with a strong marketing culture, getting the client is only half the battle. the other half is keeping the client. it’s done with more than just doing good work. in fact, most clients, surveys tell us, don’t really know how good or how bad your work is. why should they? it’s not the business they’re in. they have to trust the professional.

independent studies also show that a large percentage of accounting clients are dissatisfied with the levels of service from their accountants. clients are given no foundation for understanding what’s being done for them, nor are reasonable expectations defined. what basis do clients have, then, for being satisfied?

bruce w. marcus
bruce w. marcus

more on marketing strategy for large and mid-size firms:  practice development: it’s not rocket science  |  nine fundamentals for a healthy marketing culture in an accounting firm   |  what accounting firms need to understand to grapple with radical change   |   six reasonable goals for cpa firm marketing     |    the tools of marketing are not a program – they are simply tools     |    is your marketing program really a program?     |    six metrics for marketing roi     |    how to formulate the right marketing goals for your firm     |     get real: 15 questions for achievable growth     |     if you don’t know where you’re going, how do you know how to get there?     |     eight tips for staying one step ahead of the competition (and maybe the client, too)     |     nine things we know for sure about how to grow an accounting firm   |     the cpa’s castle is crumbling

the reality is that this new world is competitive in ways that it’s never been before. ask your clients how many times they’ve been approached by your competitors, and pursued aggressively. and then ask yourself if you can continue to be sanguine about keeping your clients happy, on a day-by-day basis. read more →

cpa interstate mobility becomes a reality in all but one of the united states

hawaii last holdout in battle dating to the last century.

by rick telberg exclusive to 卡塔尔世界杯常规比赛时间

it took 15 years, but cpas can now operate freely throughout the contiguous united states.

california gov. jerry brown has signed into law a bill allowing out-of-state-licensed cpas to work in the state without needing a california license. hawaii is now the last holdout. california’s law takes effect july 1, 2013. and the district of columbia’s law goes into effect today.

it is an historic milestone in a long political struggle fraught with frustrations and setbacks that began with fiery, divisive wars within the profession itself.

more for pro members only read more →

practice development: it’s not rocket science

but that doesn’t make you a rocket scientist.

by bruce w. marcusexclusive to 卡塔尔世界杯常规比赛时间
professional services marketing 3.0

whatever the management style – command-and-control or consensus – it’s not the same thing as being able to understand and then explain why marketing activities are essential for the growth of the firm.

top management support means inculcating into the firm the concept that in all professional activities, the client is at the core. top management support means more than acceptance of marketing – it means leadership.

more on marketing strategy for large and mid-size firms: nine fundamentals for a healthy marketing culture in an accounting firm   |  what accounting firms need to understand to grapple with radical change   |   six reasonable goals for cpa firm marketing     |    the tools of marketing are not a program – they are simply tools     |    is your marketing program really a program?     |    six metrics for marketing roi     |    how to formulate the right marketing goals for your firm     |     get real: 15 questions for achievable growth     |     if you don’t know where you’re going, how do you know how to get there?     |     eight tips for staying one step ahead of the competition (and maybe the client, too)     |     nine things we know for sure about how to grow an accounting firm   |     the cpa’s castle is crumbling

someone once said that if you’re smart enough to be an accountant, you’re smart enough to do your own marketing. sure. and you’re probably smart enough to be a nuclear physicist – but that doesn’t make you one. read more →

are partner retreats really worth the cost?

how to do it right.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers.

browse more from ed here:   audit reports without doing the work?  | should i really spend the time making checklists?   |  what’s a tax practice worth today?preparing to sell your practice in a few years? 13 things you need to know today     |    10 questions to ask yourself before you decide to add financial services to your practice   |  why selling your practice is not a retirement strategy | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

question: is there any value to a retreat? read more →

billing rates jump sharply at cpa firms

a sign of a full economic recovery for the profession?

pro members: click for details, charts, analysis

by rick telberg
exclusive to 卡塔尔世界杯常规比赛时间

cpa firms are shaking off the effects of years of a fee-cutting death-spiral that halted growth, pinched profits and forced painful staff reductions.

instead, firms are now pushing through some of the most aggressive price increases in years, led by audit services, followed by tax prep, bookkeeping and compilations. read more →

a&a update: au-c sections 330, 402 and 450

risks, service organizations and misstatements. [free podcast for pro members]

special to 卡塔尔世界杯常规比赛时间

practical accounting and auditing guidance from the plain-english a&a update service by dr. thomas a. ratcliffe, phd, cpa

au-c section 330: performing procedures in response to assessed risks and evaluating audit evidence obtained

in implementing the clarified auditing standards in calendar-year 2012 and subsequent period audit engagements, practitioners need to have a clear understanding of what is required when performing audit procedures in response to assessed risks and evaluating the audit evidence obtained.

au-c section 402: service organization audit considerations

with the clarified auditing standards, when reporting entities use service organizations to provide services relevant to the audit, practitioners need to have a clear understanding of what is required in considering work performed by service organizations.

au-c section 450: evaluation of misstatements identified

in the clarified auditing technical literature, practitioners have some clear responsibilities related to evaluating the effect of identified misstatements on the audit along with the effect of uncorrected misstatements, if any, on the financial statements.

[pro members: click read more to get the free 10-minute podcast.]

read more →

5 mistakes to avoid when seeking new clients

business development for sole practitioners and small firms.

by sandi smith, cpa special to 卡塔尔世界杯常规比赛时间

if you’re a sole practitioner or small-firm operator,  you’re probably very good at what you do — or you wouldn’t be in business today. but when it comes to marketing and selling yourself, well, many of us didn’t voluntarily sign up for that part.

as a matter of fact, some of us are resisting — kicking and screaming — marketing ourselves. so no wonder, for some of us, business is slow or not growing at the rate we’d like.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间: the top 12 business card blunders accountants make   seven tips to keep the clients you have how to attract clients like a magnet eleven easy ways to deliver more value to clients five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors

we all hope we will have enough referrals so that we will never have to sell ourselves. but in the last few years, referrals, even for those with huge followings, have slowed down. it’s past time that we work on more fully developing the marketing and selling function of our businesses.

as you do, here are five mistakes to avoid: read more →

mcgladrey’s big bet on new thought-leadership strategy pays off

click to enlarge. from the slide deck for 卡塔尔世界杯常规比赛时间 pro members

$427,000 in new business tied to web-driven content marketing campaign.

by rick telberg
exclusive to 卡塔尔世界杯常规比赛时间

top 10 firm mcgladrey has taken the wraps off an under-the-radar marketing program that is producing dramatic results and serves as a case study for the rest of the profession.

at a conference in orlando last month, eric webb, senior director of communications & brand, presented a 65-slide case study that shows since this effort began in 2009:

  • 100% increase in web visits per month
  •  300% increase in content production (gross amount of content project)
  •  200% increase in content productivity from writers (measuring the “busyness” of content producers)
  •  60% increase in content promotion
  • 4 new newsletters added to the content marketing mix
  • 5% email clickthrough rate (ctr) and 19% social content ctr

mcgladrey attributes $427,000 worth of business to its content marketing process since july 2011.

“if the website is the center of the universe for all of marketing, the content — especially the original thought leadership type of content — is the cement of that foundation,” webb says in describing the importance of content marketing.

the effort demonstrates the importance of better communication throughout the entire content production process and clear expectations for each content creator.

卡塔尔世界杯常规比赛时间 pro members: click read more to get the details and download the slide deck

read more →

the five essential building blocks for creating a strong accounting firm

the ideal management structure for a profitable cpa firm.

by marc rosenberg, cpa
author of what really makes cpa firms profitable

the vast majority of cpa firms are well under 100 people and therefore don’t need the kind of formalized structure that larger firms need. but virtually all firms, regardless of size, need some minimum form of structure.

marc rosenberg
marc rosenberg

more like this: the seven signs of great leadership in a cpa firm | the 10 biggest mistakes cpa firms make in reading map statistics | new rosenberg map survey says cpa firm revenue growth re-accelerating | five skills that separate winners from losers in the accounting business | don’t ask a cpa what profitability means | the essence of cpa firm profitability | compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…

there is a natural tendency for firms to minimize the role of management. there are several reasons for this: read more →