today's features

are you throwing away profits?

$50 bills in a wastebasket

nine things to stop doing today.

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

a critical measure for accountants – whether they bill either by the hour or a fixed price – is the amount they bill clients each month. as anxious as many accountants are to raise their revenues, their daily activity often sabotages that goal with the same common billing mistakes.

more: want to close a deal? set a deadline | how mindset affects your marketing | how to use chatgpt to create images | how to leverage chatgpt during this crazy tax season | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | eight steps to getting started with ai: a guide for tax professionals | how to weather any economic storm | leverage your strengths to beat stress | you don’t have a time problem | are you crossing off your business bucket list? | three money leaks and how to plug them
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here’s a checklist so you can compare your behavior with the list. i’ll give some tips on how to break the bad habit, and the rest will be up to you.

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accounting arc: busting the big 4 myth

the realities and opportunities beyond big 4 firms.

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accounting arc 
with donny shimamoto, liz mason, and byron patrick
center for accounting transformation

the latest episode of accounting arc, “busting the big 4 myth,” offers various perspectives on careers in accounting. 

more: harper & co. cpas: the perspective of a non-accountant is imperativemenlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |

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hosts donny shimamoto, cpa, citp, cgma; byron patrick, cpa, citp, cgma; and liz mason, cpa, share their unique experiences, challenging the notion that success in accounting is synonymous with working for one of the big four firms. 

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understand the 10 steps of the buying process

two men looking at computer screen

how to become a solution magician.

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

closing a business opportunity refers to the process of finalizing and securing an agreement with a prospective client. it involves bringing the negotiation or sales process to a successful conclusion and solidifying the commitment from both parties involved. the closing stage is critical because it marks the point where the decision to move forward with the opportunity is made, and the terms and conditions are agreed upon.

more: market technology services through workshops and training | service quality: the key to client retention | how life cycle changes your marketing | clients buy solutions, not features | make sure you know what you will get from your marketing | three pillars support a successful accounting firm | clients have six reasons for needing you | six ways to market your technology consulting practice
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closing an engagement requires that you not only understand the selling cycle, but also the buying process that clients and prospects go through every time they are deciding to purchase something from you or from someone else. if you want to close more new engagements, it’s important for you to fully understand this.
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accounting needs a ‘rethink’ not a ‘rebrand’

two women talking while seated at a table

your value is in the knowledge you have and the relationships and trust you’ve built.

by seth fineberg
at large

the field of accounting, and being an accountant, is challenged on many sides – none more so than the very act of being an accountant. in short, given the demand for new services and the growth in automation for nearly all “tasks,” what does accounting or being an accountant mean anymore?

more: big change comes with deep reflection | three ways to raise the bar for your business | randy crabtree: stress management for overworked accountants | tax chat: eric green reveals the tax rep guide to tax season  | it’s time to do the uncomfortable  | three ways to improve next tax season  | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously?
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let’s be clear: accounting’s literal and metaphorical face is, and needs to be, changing if it is to grow and thrive. this, however, isn’t necessarily a bad thing. but, as we well know, change is not easy or quick. what should encourage accounting professionals is that at this very moment in time, they have the ability to have a say in what accounting, and being an accountant, actually is and could be.
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bissett bullet: what’s your story?

today’s bissett bullet: “you need to be able to tell your story in a way that relates to potential future clients, either directly or via your marketing collateral.”

by martin bissett

but what do they want to know? what will convince them that they should work with you and, if the opportunity arose, could you demonstrate that when under pressure?

why is your firm successful? why have your clients chosen you and what major outcomes do you achieve for them?

today’s to-do:

consider the above and write it into just one paragraph. stick to the facts; don’t include cliches such as “big enough to cope, small enough to care.” read this back to yourself until you’ve memorized it and then practice telling your story out loud until it feels natural.

see more bissett bullets here

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brannon poe: grow your business by preparing to let it go

the two big metrics and 12 more takeaways.

this video is a preview. the complete video episode, with commentary and transcript, is first available exclusively to pro members. the podcast version is available everywhere you get your podcasts.

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the disruptors
with liz farr

after helping people buy and sell accounting firms for years, brannon poe realized he was sitting on a treasure trove of valuable information that could help firm owners who were “motivated to change their practices for the better.” he’s leveraged those insights into a coaching program for accountants (accounting practice academy) and several books. his latest book, prepare your cpa firm for sale, describes the process of transforming a firm into one that buyers willingly pay top dollar for.

more podcasts and videos: dawn brolin says grow your firm by shrinking itjason blumer & julie shipp: move leaders out of client service | james graham: drop the billable hour and you’ll bill morekaren reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusionbill penczak: stop forcing smart people to do stupid worksandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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poe recommends that firm owners start planning for an eventual sale well before they’re ready to leave. “i think the biggest mistake that i see often is they don’t do any planning,” poe says. starting the planning process three to five years ahead gives firm owners time to change things, including getting alignment on the timetable and price with other partners, which may be a tricky issue.

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are you the key signal caller for your clients?

calling the right plays means understanding your clients and their goals, as well as their weaknesses.

by jody padar
radical pricing – by the radical cpa

it’s up to you to recognize the client persona most suited for your firm, but you’ll want to start by defining your customers’ needs. so, what do people really want, and how can you figure it out?

more: value pricing requires defining your clients | how value pricing impacts your employees | six steps to start value pricing | stop selling time | why pricing is so disruptive | the radical pricing model: start with $25k | three critical factors drive the value pricing trend | accounting disruptors are heading your way … with deep pockets | the convergence of trends makes pricing changes imperative | stop looking for talent that does not exist | advisory work must be priced by value, not hours
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

certainly, you can engage in expensive research, from questionnaires to focus groups. but, in reality, most of the clues you need will come from your knowledge of the people you work with within that group.
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does client perception match your firm’s reality?

black cat statue and white cat statue, nose to nose

don’t know? time to see through their eyes.

by martin bissett
business development on a budget

there used to be an old exercise used in training sessions about customer relations or selling or leadership that went like this. the trainer would ask the group to think about the color green. a few seconds later he would ask them what type of green they were thinking of, and of course there would be many variations of green.

the point is that, as the saying goes, perception is reality. whatever each person perceived as green, that would be the reality for them – but it would be different for each person in the room.
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what is an ai pc, and should i get one?

ai pcs are clearly the future, but are they ready for early adoption? check out the pros and cons first. 

by rick richardson
technology this week

ai pcs’ increased power and efficiency are poised to change computing. is the computer you’re considering an ai pc, though? we’ll examine their unique characteristics and whether upgrading to these cutting-edge devices makes sense.

more: fool’s gold may not be so foolish nowai-engineered enzyme could be solution to plastic pollution | german researchers develop ev motor with no rare-earth magnetseducators can benefit from new generative ai courseai named the highest-paying in-demand tech skill for 2024 | ai generates revolutionary new battery design | breakthrough implant uses excess blood sugar to generate electricity | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | study: solar will lead global energy by 2050
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

how does it work? an ai pc is a powerful device built specifically to tackle artificial intelligence (ai) tasks easily. it’s not your typical computer. the device processes everything in-house, eliminating the requirement for cloud data processing.

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geni whitehouse: conquer client communication chaos

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegooglespotifyiheartdeezer, amazon music and audibleplayer fmaudacygaana (india), and boomplay (africa).


with seth fineberg
卡塔尔世界杯常规比赛时间 research

geni whitehouse, cpa.citp, the “countess of communication” for brotemarkle, davis & co., llp (bdco), says you must meet your clients where they are and understand their personalities to better communicate with them.

doing so, she says, will provide the ultimate value for your clients.

more whitehouse: geni whitehouse: unlock your accountant super powers

in this episode of tax chat, whitehouse discusses strategies for improving client communication and efficiency in tax preparation, emphasizing the importance of productivity tools, workflows, and shared files. whitehouse highlights the need to tailor communication methods to meet client preferences and leverage new tools and technologies to provide interactive and insightful financial information. she also explores the crucial role of communication in tax consulting and accounting, emphasizing the need for empathy, understanding, and adaptability in addressing clients’ needs.

6 more takeaways:

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hiring experience vs. training inexperience

young woman in job interview

invest your mentoring time where it matters most.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: we were looking for an additional experienced person since september and hired someone with five years experience in mid-november, but she said she couldn’t start until january. she said she had work she had to finish up.

more: eleven ways new staffers can help bring in business | should you merge? here’s how to chart your path | hold staff accountable if you want them to listen to you | how to raise your rates | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
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two days before christmas she called to tell me her firm made her a “better” offer and she decided to stay there. it meant we had to enter busy season short a person. this seems to happen a lot. what do you suggest?
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five ways to prevent audit bottlenecks

keep your audit team flowing smoothly. 

by alan anderson, cpa
transforming audit for the future

your team must take a proactive, anticipatory approach to completing an audit in the field. think about the bottlenecks you faced last year with this same client and the bottlenecks that seem to happen with every client.

more: planning lays the foundation of audit relevance | how do we drive relevance in audit? | lack of relevance drives audit commoditization | four basic understandings every auditor must master | wanted: great audit mentors | closing the audit expectations gap
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

sit down with your team and have open-ended conversations about actions to take to reduce or eliminate those bottlenecks. here are some ideas for preventing problems:

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