Today's Features

Not The Managing Partner, But Still a ‘Managing’ Partner

Ed Mendlowitz CPA The Practice Doctor Q and ANot managing the whole firm is no excuse for not polishing management skills.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: I am a partner in a multipartner firm and have no firm management responsibilities, rather I manage a large book of business and while I do not bring in much new business (I don’t have time) I get substantial additional consulting services from existing clients and my realization rate is highest in the firm.

MORE PRACTICE DOCTOR Q&A: 34 Ways to Make More Money | How to Know Everything | The Six Rules To Get the Most Out of CPE | Everyone Needs Strategic Planning | 19 Ways to Stop Wasting Reviewer Time | No Go On Pro Bono | Why Your Clients Need Annual Minutes – And How You Can Help | How Much Overhead Is Too Much?

But yet you told me I should attend at least one daylong practice management program a year.  Why?

They Should All Be ‘A Class’ Clients

Red and black letter A with upward arrow swoosh in centerPlus 10 sample criteria.

By Rob Nixon

Every client you have should be an "A" class client.

MORE ON STRATEGY: Your Clients on Your Terms | Mindset Is Everything | The Entrepreneurial Accountant: An Oxymoron? | How to Structure Your Firm for Success | Why Average Project Value Matters | The Bizarre Habits of Accountants
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You have all sorts of clients. Some have great potential, they are open to new ideas, they pay your bills on time, are pleasant to your team and are generally great to deal with – they might be your A’s. Others have no potential, they are closed-minded, they moan and groan about everything and are a general pain in the rear – they might be classed as a "D" class clients.

The Importance of Goals and Affirmations

Young man fixing collar in mirrorWhat are you telling yourself?

By Jassen Bowman
Tax Resolution Systems

Every day, you should go through your goals checklist.

MORE: Use Checklists to Manage Your Tax Firm | Checklists for Your Tax Resolution Office Setup | Case Study: Building a Tax Resolution Business | Marketing Requires Ruthless Accountability | First, You Need Clients | The Tax Resolution Client Intake Checklist
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Whether you do this just at the beginning of the day, or also at the close of the business or actual day, be sure to include

  • empowering daily questions,
  • affirmations and
  • goals.


9 Steps to a Great Open House

Business people meeting over healthy foodConsider partnering with others.

By Sandi Leyva

Hosting an open house is an extremely successful way to attract new clients and provide education and perks to existing clients.

MORE SMALL FIRM GROWTH STRATEGIES: Make the Most of Trade Shows | Speaking: How, Where and Getting Leads from It | The A-B-C’s of Getting Started with Advisory Services | 3 More Kinds of Referrals | Turn to the ABCs for Client Feedback | Use Client ‘Touch Plans’ to Stay in Touch
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An open house is a great option for accountants who have a large number of clients who are located in the same geographic area. If you have a small number of clients, then you can partner with other noncompeting professionals to increase your turnout.

Cannabiz CPA: Dani Espinda Chooses Option Number Three


Building out a cannabis practice with a spin-off entity called ACT Resources.

By Liz Gold

Cannabis CPAs who are entering this booming industry usually need to figure out how to structure their practice: Do they focus exclusively on cannabusinesses? Just create a new niche industry practice and hope their clients won’t raise eyebrows? Or, create a separate entity within an already established firm?

GoProCPA.comMORE CANNABIZ for PRO MEMBERS: Jordan Cornelius: Guiding Cannabiz Clients through Minefields | A CPA’s Unexpected Journey into the Cannabis Industry | The Two Crippling Compliance Issues for Cannabis Industry | Wayne Harding: From Tech Boom to Cannabis Boom | Billion-Dollar Questions: Cannabis FAQ for Accountants | Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry | America’s New Breed of Cannabis CPAs [VIDEO] | Pioneering Cannabiz CPA Warns: Tread Softly | IRS Section 280E & Marijuana: Tax Limbo or Hell? | The Rise of a Cannabiz CPA | CPA Cannabiz BoomThe Wild World of Weed: Tax Season Never Ends | What’s a Cannabiz Worth? Ask a CPA.

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For Rhodes & Associates, the third option made the most sense.


3 Ways to Get ‘Unstuck’

Diagram of objectives
[Click for larger view]
A process for overachievers.

By Bill Reeb

I was looking for a process that was logical, yet would be dynamic enough to respond to life as it unfolds around us.

MORE from Reeb: When the Inmates Are Running the Asylum | The Two Most Common Management Styles | Different Roles for Different Partners | How Big ‘Books’ Hurt Firms | Developing a Three-Year Vision [VIDEO]
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For example, when I am hired to help an organization create a strategy and then implement it, I call upon a formal process to get us from vision through execution. However, often the reason I am called in the first place is because someone or some organization realizes they are stuck.

11 Alternative Pricing Methods

Woman in officeWhen to use each, plus the marketing and operational perspective.

By August J. Aquila
Price It Right

There are many ways to price professional services.

MORE: 12 Pricing Factors Beyond Cost | Ethical Issues in Pricing | How Utility and Value Affect Pricing | Understanding the Product Pricing Life Cycle | 4 Ways a Production Orientation Can Harm a Firm | Price to Get the Maximum Fee | 7 Issues in Partner Retirement Planning | Is It Time for a Partner Compensation Checkup?
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Alternative pricing methods in the legal profession have received much more attention than in the accounting profession. In fact, entire publications have been issued by the American Bar Association (ABA) on this particular topic.

Firms Focus on Profitable Growth, True Leadership

Coworkers discussing charts in officeALSO: Retirees must transition the relationship, not just the work.

By Allan Koltin
Rosenberg MAP Survey

I see movement of “advanced” lateral talent. While lateral talent has always left the Big 4 firms to pursue career opportunities with local, regional and middle-market national firms, it appears the movement of “advanced” talent is happening at a greater pace.

MORE FROM THE MAP SURVEY: Survey: Many Firms in Transition | Technology Playing Center Stage in CPA Profession
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Positions ranging from manager, senior manager, principal and partner are finding they can accomplish their career goals at a potentially accelerated pace at local, regional and national firms, while also enjoying the culture of these firms. In the past, this type of movement didn’t take place as often, as many of these individuals completely left public accounting when they left the Big 4.