today's features
pricing, fees & billing rates

how to choose which clients to scope

it’s all about risk.

by jody padar
radical pricing – by the radical cpa

scoping is a time commitment, so know that the client is worth the commitment and they have the revenue to back it. start by setting a minimum price point you will charge for the assessment process. if the client falls below your threshold price point, it doesn’t mean you’re not going to scope them, it just means the process will be less complex and can probably be done within an hour.

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for smaller clients, it helps the process if they arrive at the assessment with all the necessary information. you can look at their quickbooks data and tax returns to get a strong sense of what they need and how long it will take to deliver. scoping a small, straightforward client will become second nature with time. but be careful about being too casual when scoping smaller clients. if you miscalculate, you are still opening your firm up to risk.

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management

what internal controls mean to clients

man writing in notebook

and how to explain them.

by ed mendlowitz
77 ways to wow!

what are internal controls? auditors widely use this term. it also appears multiple times in engagement letters for audits of businesses and not-for-profits, but i do not believe many outside of the accounting profession really know or understand what internal controls are. i will try to explain it here.

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internal controls refer to an organization’s system of deterrence, oversight, checks and balances. an illustration is where someone in a business writes and mails the checks to pay a bill. if this same person then receives the bank statement and performs the reconciliation of that account, there would not be any control or oversight on that person and whether the payment was proper and not misdirected. they are checking their own work. this is how many frauds occur.
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mergers & acquisitions

how to attract the best merger candidates

man's hand sowing wheat

never stop looking.

by marc rosenberg
cpa firm mergers: your complete guide

firms that are serious about merging in smaller firms on a regular basis understand that doing mergers is all about planting seeds. a buyer has to have this attitude:

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every day of every year, at least one firm decides to test the merger waters. if our efforts to identify sellers are made continuously throughout the year, every year, sooner or later, we will find at least one interested merger candidate and probably more than one.

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marketing & sales

it’s the client’s perception that counts

black cat statue and white cat statue, nose to nose

look at your firm 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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featured video

proctor: turn dumb ideas into brilliant solutions | the disruptors

reward curiosity, encourage experimentation, and involve the team in every step of firm transformation.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by poe group advisors: helping accountants buy, build, and sell exceptional firms. see today’s special offer

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poe group advisors consistently excels in helping our clients find the right accounting practice sales opportunity.

the disruptors
with liz farr

like many guests on the disruptors, tony proctor didn’t start out as an accountant. his firm, proctor and associates, started as a side hustle in 2007 when he was working in it management. as a testament to the client service focus of his tech-forward firm, his very first paid client remains his customer. 

“they are actually still on the roster, and so i’m very excited about that, and i’m excited that they are still willing to pay what today’s price is, and they are not stuck on what the price was in 2007, so i love that,” proctor says.  

卡塔尔世界杯常规比赛时间 celebrates:the 100th episode of the disruptors

more streaming: carter-gray: how 1 poor review strengthened the firm | hartman: upwork to “40 under 40” in 3 years | telka: transform fear into fuel | woodard: move past reports; deliver results | baker: find true purpose to end burnout | brolin: the w.i.n. leadership formula | gertrudes: how eos & “unreasonable hospitality” reshaped growthlab | vilms: the power of people in a tech-driven world | dickerson: from diagnosis to disruption | kapilovich: treat people like people | martha yasso: from wall street to main street | jackie meyer: tax plans in 90 seconds? believe it  | erica goode: build a $200k firm in 15hrs/week |

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proctor, like many of today’s forward-thinking accountants, thinks like an entrepreneur. as he explains, accountants are “usually very risk averse and very honed in on the details, and it’s like compliance first,” while entrepreneurs are “what i would call risk tolerant, and so they usually are seeking the risk and figuring out what opportunities are presented from that.” 

thinking solely like an accountant, proctor says, can lead to paralysis.

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