pro member exclusive

bonus: seven systems to allocate income … and who uses them.

by marc rosenberg
how to bring in new partners

it would take a book much longer than this post to properly explain the finer points of partner compensation, especially how each of the major compensation systems works. oh, did i forget? we wrote such a book, “cpa firm partner compensation: the art and science.”

more:fifteen steps to new partner buy-in|what buying in actually means|how partner and staff actions impact profits|nuts and bolts of mentoring staff|nine ways to measure staff performance on the path to partner|sixteen duties of a partner|five people to keep out of partnership
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

best practices and key concepts

as is the case with all of my lists, no one firm incorporatesallof these practices in its partner compensation policy. but i have observedallof the practices below in one or more of the best firms i’ve worked with over 20 years.

  1. performance-based.there should be a strong link between pay and performance. when it comes to cpa firm performance and profitability: as the partners go, so goes the firm. the partners have a much greater impact on the firm’s success than professional staff and other personnel. if they perform at a high level, the firm will do the same. if partner performance lags, then the firm will suffer. therefore, the firm needs to motivate the partners to produce at high levels and reward them accordingly. compensation isn’t the best way to motivate anyone’s performance, but itiseffective.

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11 best practices for partner compensation

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bonus: seven systems to allocate income … and who uses them.

by marc rosenberg
how to bring in new partners

it would take a book much longer than this post to properly explain the finer points of partner compensation, especially how each of the major compensation systems works. oh, did i forget? we wrote such a book, “cpa firm partner compensation: the art and science.”

more:fifteen steps to new partner buy-in|what buying in actually means|how partner and staff actions impact profits|nuts and bolts of mentoring staff|nine ways to measure staff performance on the path to partner|sixteen duties of a partner|five people to keep out of partnership
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

best practices and key concepts

as is the case with all of my lists, no one firm incorporatesallof these practices in its partner compensation policy. but i have observedallof the practices below in one or more of the best firms i’ve worked with over 20 years.

  1. performance-based.there should be a strong link between pay and performance. when it comes to cpa firm performance and profitability: as the partners go, so goes the firm. the partners have a much greater impact on the firm’s success than professional staff and other personnel. if they perform at a high level, the firm will do the same. if partner performance lags, then the firm will suffer. therefore, the firm needs to motivate the partners to produce at high levels and reward them accordingly. compensation isn’t the best way to motivate anyone’s performance, but itiseffective.

read more →

get your name in the news

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10 triggers for free publicity.

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

as a marketing channel, public relations is one of my personal favorites. it includes getting mentioned in news or trade media and publications, having an article you wrote published or reprinted, applying for and winning awards, or otherwise being in the public eye for one reason or another.

more:when you don’t know what you don’t know|five stages of any business|five ideas for summer focus|leverage your client list today|need leads? try a quiz|now’s the time to clean up your email list
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

when i started a photography studio several years ago, i sent sample photos of my work along with a letter explaining my business to several news outlets. it was july, and in august, the sunday magazine supplement to the dallas morning news picked up the story and published my samples. they were portraits of cats and dogs, and my phone rang for days. within a week, i was booked through christmas, and my business broke even a year ahead of time because of that one piece of publicity.
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the biggest obstacle to taking your firm upmarket

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executive woman and man in business meetingwho do your referrals come from?

by russ alan prince

moving upmarket refers to working with wealthier clients. the desire to move upmarket is becoming more pervasive and stronger because of many factors, such as economic volatility, increased competition and fee compression. for many accountants to do well going forward, they need to work with wealthier clients. they need to move upmarket.

more:what the wealthy getting wealthier means for your practice|growth during a recession? here’s how|five business models for wealth management|wanna know what clients say about you?
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

for a substantial percentage of accountants with high-net-worth practices, they likely have to change their business model to move upmarket. for example, the ultrawealthy – individuals and families with a net worth of us $30 million or greater – commonly require accountants to have a different business model than clients of lesser affluence.
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new aicpa program aims to open personnel pipeline

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young businesswoman talking to her client and using tabletfirms are being contacted to participate.

by 卡塔尔世界杯常规比赛时间 research

as the leaders of cpa firms know quite well, the pipeline of incoming professionals has slowed to somewhere between a trickle and a drip.

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the causes are many:

  • the cost of higher education
  • misconceptions about the profession
  • the difficulty of the cpa exam
  • competition from other professions
  • competition from corporations needing accountants

but not to worry! the american of institute of cpas is on the case!
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how to assist investment clubs

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hands raising wine glasses to toastconsider the contacts you’re making.

by ed mendlowitz
how to build a stronger tax practice

investment clubs are a social activity where people of similar backgrounds or interests

  • get together,
  • contribute funds in a periodic manner and
  • research and discuss suitable investments for the group.

more on marketing:help clients with basic budgeting|help clients manage their investments|when clients remarry|questions for after tax season|help heirs with tax issues|seven questions to suggest estate planning|28 data points for a financial planning discussion|every client can use financial planning|four reasons to perform tax projections|four additional services to suggest
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

investment clubs invest the money collectively and maintain a single brokerage account with separate records kept within the club.
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10 can’t-skip steps for business development

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young black businessman looking at his reflectionbonus: 10 questions to check your comfort level.

by martin bissett
understanding selling

i’ve been asking you to believe in yourself, to get your potential clients to open up to you, and to demonstrate to them the outcomes that working with you and your firm would create in their personal and professional lives.

more:three things that rich accountants do|make your expertise a new-client magnet|don’t think of it as selling|experts: what it takes to become partner|where is your next money coming from?|your website promises. do you deliver?|five reasons firms don’t thrive|good enough is not enough
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

now here’s a checklist for you to run through before you begin your next business development initiative, and before each new business appointment that you have.
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smartwatch saves two lives

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a watch that can detect trauma could get er help asap.

by rick richardson
technology this week

the health functions of the apple watch are in the news again and are said to have saved at least two lives – one in minnesota and one in ohio. the feature taking the spotlight wasfall detection.

more:first e-road charges electric vehicles as they drive|stanford scientists 3d-print heart tissue|four of today’s new technologies that will be tomorrow’s ‘norm’|cyber insurance costs rise in health care as attacks soar|phishing attack hackers have a new trick
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

apple watch user michael brodkorb was struck by a car in minnesota before it fled the scene. when he could not react, his apple watch used fall detection to identify the impact and called 911. “i was just shocked,” he said. “i mean, just the sheer force of what it’s like to get hit by a vehicle.”
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survey: more than ever, ethics matter

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poll response snapshotopportunities persist for trusted advisors.

by 卡塔尔世界杯常规比赛时间 research

a recent harris poll survey conducted on behalf of the american institute of cpas finds that individuals in business have more concerns about ethics than ever – and the trend is rising.

in that ethics often involve money and compliance, the trend in business intersects with accountancy and the kind of consulting that accountants often offer.

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the survey segregated data for three cohorts:

opinion elite– people in the general public who are active in civic activities and follow business issues.

business leaders– full-time corporate officers or high-level managers 28 years old or older who have decision-making responsibility in companies with 500 or more employees.

future talent– ages 20-30 pursuing or having a college degree and working less than 10 years.
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