Today's Features

Handle Objections Effectively by Preparing for Them

Business meeting of three men3 ways to address a prospect's concerns.

By Martin Bissett
Business Development On a Budget

If you have landed the opportunity to present your proposal in person, understand that concerns will be raised, particularly if several decision makers are present. Don’t be put off your stride by these objections, or assume they mean that the prospect doesn’t want to work with you. On the contrary, objections can be a sign that there is interest, but they just need more information or assurance.

MORE ON BUSINESS DEVELOPMENT: How to Prepare for the First Meeting with a New Prospect | Consider Hiring a Sales Director | Your Perception vs. Your Client’s Reality | Appraise Your Prospects | Develop the Habit of Consistency | Banish the Idea that Selling is Difficult | How to Win Your First Client | 5 Ways to Make Selling Easier to Swallow

When it comes to handling objections or concerns, you have three options on the timing. You can handle it
READ MORE →

3 Non-Performance-Based Comp Systems

Businessman sitting on scales with stack of coins in other trayHint: They don't eliminate arguments.

By Marc Rosenberg
Partner Comp: Art & Science

The common thread to non-performance-based systems is that partners’ compensation is not based on their performance, but on other factors that have nothing to do with performance. There are three main systems of this type:

MORE ON PARTNER COMPENSATION: The 3 Best Partner Compensation Formulas | Why Firms Use Partner Comp Formulas | 3 Tiers of Compensation | Partner Compensation 101| What Partners Earn and How They Earn It | Partner Compensation: An Art, Not a Science | How Partners View Compensation: It’s Not All about the Money | Why Most Partner Comp Systems Are Performance-Based

  • Ownership percentage
  • Pay all partners equally, or nearly so
  • Seniority

READ MORE →

Mandate Training Programs, Accountability

Three young businessmen in office training sessionProcesses make it easier to achieve results.

By Roman H. Kepczyk
Quantum of Paperless

For many firms, the ability to identify, standardize and implement best practices is the last remaining competitive advantage in business today as communications tools and access to technology have become available to everyone.

MORE ON TECH SPENDING: Centralize Contact Administration | Standardize Your QuickBooks Support | Remote Banking Offers Instant ROI | How to Stop ‘Overauditing’ | Devil's in the Details of Digital File Delivery
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

To take advantage of the continuous stream of innovation and opportunities, firms must adopt a “learning culture.” This requires a formal process to capture and standardize best practices in every department within the firm so that every person can take advantage of them.
READ MORE →

Selfie App Spots Early Cancer Signs

Male taking selfie while wearing glasses mentionedIt seems nearly as accurate as a blood test.

By Rick Richardson

Pancreatic cancer has a meager survival rate, with just 9 percent of patients surviving past five years.

MORE TECH THIS WEEK: Magnify Your Smartphone Screen | 3 Considerations for Better WiFi Security | New MIT Drone Flies 5 Days on 1 Tank | Will HEIF Kill JPEG?
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

The disease, which killed Apple co-founder Steve Jobs, is one of the hardest types of cancer to treat, but detecting and treating it early can make a big difference to survival rates. Researchers at the University of Washington have come up with a simple and incredibly accurate way to test for the cancer that people can administer themselves.
READ MORE →

How Much Should Partners Make?

Scale with coins on one side, alarm clock on the otherDo they deliver or develop?

By Rob Nixon

How much should a partner of a multipartner accounting firm be paid? Should it be equal pay because you have equal shareholding?

MORE ON STRATEGY: The Entrepreneurial Accountant: An Oxymoron? | How to Structure Your Firm for Success | Why Average Project Value Matters | Do Your Clients Want More? | The Bizarre Habits of Accountants | 12 Traits of a Better You
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

If it is going to be equal pay then each person must pass the checklist of the ideal partner. It’s my opinion that most should not be paid equally.
READ MORE →

What’s Your Why? And Why Should Anyone Care?

Businessman pole vaulting toward his goalUnderstanding the drivers of others in the firm will make succession planning easier.

By Gary Adamson
Bridging the Gap

The very human tendency to assume that others think as we do can lead to great misunderstanding.

MORE: 6 Tips for Fostering Leadership in Your Organization | 3 Ways to Keep Your Team Members Connected, Engaged and Energized | Growing, Developing Future Leaders Is a Two-Way Street | A Winning Culture Is an Intentional Culture
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

In truth, the things that drive individuals – what makes it all worth it – vary widely. Discovering what makes each team member tick and what he or she most desires and values is an important step toward creating a cohesive partnership and bridging the gap, not just between generations but among all members of the firm.
READ MORE →

We Mourn the Passing of John Covaleski

Covaleski

Long-time accounting technology journalist.

John Covaleski, who covered the tax and accounting profession for 20 years, starting at Accounting Today and, more recently, at CPA Trendlines, has died. He was 64.

Covaleski was well-known throughout the profession, particularly in technology circles. "John was among the most diligent and respected journalists in the field," says Rick Telberg, who worked with him at Accounting Today and CPA Trendlines. "He was widely recognized for his character, integrity, and professionalism. He will be missed."

He and his work were quoted widely, including the by The New York Times. He was an award-winning journalist, with experience as a senior editor, manager, and feature and hard news writer for magazines, newspapers and on line. His expertise included domestic and international finance, local and regional business and government, accounting, insurance, the non-profit sector, business technology, and commercial real estate.

John Michael Covaleski of Hatboro, Penn., died Thursday, Sept. 14, 2017, at Abington Hospital Jefferson Health. He was 64 years old. John was born Oct. 20, 1952, in Philadelphia, Penns., son of the late John J. Covaleski and the late Ella O. Covaleski (nee - Bubernak). He is the husband of Janet Klabe; father of Katie Decker (Corey); brother of Patricia Jones (Robert) and Gerald Weslosky (Nancy). He is also survived by his niece and three nephews.

John was an avid golfer and United States Marine Veteran.

Relatives and friends are invited to his viewing on Tuesday, Sept. 19, 2017, from 10:30 to 11:30 A.M. at Wetzel and Son Funeral Home, 501 Easton Road, Willow Grove, PA 19090. His Funeral Mass will follow at 12 P.M. at St. David Church, 316 Easton Road, Willow Grove, PA, 19090.

Religious services will be conducted by Fr. Richard P. Connors from St. David Church.

In lieu of flowers, donations may be made in his memory to St. Joseph’s Manor, 1616 Huntingdon Pike, Meadowbrook, PA 19046. More at www.wetzelandson.com

Case Study: Building a Tax Resolution Business

Sending emails from a laptopAutomated touches are the key.

By Jassen Bowman
Tax Resolution Systems

This is the story of a small CPA firm (three partners at the time, now five) in New York City that hired me in January 2011 to help them grow their tax resolution business.

MORE: Market to Your Ideal Clients | Follow Up with Leads Longer | 5 Daily Tasks for Maximum Tax Resolution Profitability | 4 Problems with the Tax Resolution Industry | When Tax Filing Season Is Over, What’s Next?
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

This was one of my first such consulting projects. I worked with them to create a written, systematic and scheduled marketing process to drive sales of this service, which then fed sales of their other service offerings.
READ MORE →

Learning from Hurricanes Harvey and Irma

What disaster recovery readiness means for accountants.

How Ready Are You?
Disaster Recovery Effectiveness
Join the Survey. Get the Answers.

 

By Donny C. Shimamoto

Think back just a short while agp when you first found out that Hurricane Harvey was poised to hit Texas. Or this past week, knowing that Irma was about to hit Florida.

MORE: Focus on Cyber Risk, Not Just Security | Making IT Matter to Accountants | IT Nerds Need Budget Help | 8 Ways to Wrestle Software Subscriptions Into Submission | IT Hardware Gets Even More Complex (Great!) | How Accounting Geeks and Techie Nerds Can Play Nicely Together
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

If a hurricane or other natural disaster were coming to your town would you know what to do to ensure that the damage and impact to your IT environment was prevented or minimized?
READ MORE →