MAP SUCCESS: Molinar on Marketing

What are most important business development trends facing CPA firms today?

For some answers, just ask Russ Molinar, Director of Marketing & Practice Development at Plante & Moran. We did, and here’s what Russ offered up…

1) The maturation of marketing. Marketing in most accounting firms is an “adolescent” — a teenager with increased expectations and demands being placed on the function. The marketing function has emerged from a tactical “write the brochures” mentality to more of a strategic and revenue-focused function.

2) The next phase of business development and sales professionals. Many firms have tried using outside lead generators, with mixed success. Many firms, starting with the Big Four and now cascading down to the national and super-regional firms are looking beyond “lead generation” to marketing and sales professionals to help with sales coaching, sales management, account planning, and opportunity management, among other things.

3) Integrating marketing and sales. Marketing should drive sales, or at least create opportunities for the firm. Many of the marketing tactics often used by accounting firms aren’t linked with sales efforts ? for example, trade shows or event sponsorships to increase firm awareness without adequate planning and follow-up activities to turn those efforts into qualified leads. Firms should be looking to more aggressively and comprehensively link and better integrate existing marketing and sales efforts. Our firm, along with many others, is looking to change the focus to more of a sales, or practice development, orientation.

You can catch Russ and the best of accounting marketing at the AAM
Summit in June. Visit: AAM Read more

Bookmark and Share

Posted on April 29, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

PEAK PRODUCTIVITY: Email Makes You Dumb

A survey of 1,100 Britons, conducted by TNS Research, and sponsored by Hewlett Packard, finds that the stuff of modern, instantaneous communications — phone calls, e-mails and text messages — distract them and actually cause them to suffer a greater loss of IQ than if they were smoking marijuana.

Read more

Bookmark and Share

Posted on April 26, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

AT LARGE: What Business Do You THINK You’re In?

With busy season ended, accountants and financial managers assess the meaning of it all.

By Rick Telberg
At Large

What business are you in? Or rather, what business do you THINK you’re in? Now that the busy season is over, many CPAs are taking the time to assess and re-assess how it went, how they feel, and what they’d REALLY like to do in the future. So this is a good time to ask yourself if you can readily define your business mission.

What business are you in? Does any of this sound familiar?
“Babysitting my clients.”
“Handholding.”
“The peace-of-mind business.”
“Solving people’s problems.”
“Measuring and improving performance.

[Planning a leadership strategy meeting? Request your FREE Situation Assessment Discusson Guide] Read more

Bookmark and Share

Posted on April 25, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

FIRM SUCCESS: Primping for a Partner Buyout

The days of wine and roses in selling CPA firms for pricey premiums to big-monied buyers are over, says consultant Marc Rosenberg, writing in the upcoming May issue of the Practical Accountant.

“A host of forces have combined to make succession planning into the ‘Perfect Storm,’ Rosenberg says. “Baby Boomer partners are now 55 to 60 years of age and hence, five to 10 years from retiring. At the same time, firms are suffering from a dearth of staff with partner potential.”

Read more

Bookmark and Share

Posted on April 21, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

TAX SEASON: Key Benchmarks Look Good

The key benchmarks for tax practices look good and strong for the 2005 season.

Read more

Bookmark and Share

Posted on April 20, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

SMALL BIZ BITS: Hiring Growth Stalls

Small- and Medium-Size Businesses Turn to Contract Workers

Hiring growth by small business in the year’s first quarter stalled completely, as owners remained cautious about the economic outlook, according to SurePayroll Inc., a Chicago-area provider of payroll management services to businesses with up to 100 employees. And the average paycheck shrank 1%.

California and Virginia suffered the sharpest hiring slowdowns, with near zero growth this year, compared to 7% to 8% same time last year.

The result: Nationally, 3.27 percent of small business workers are now contract employees, up from 2.99 percent in March 2004 and 3.2 percent in December 2004. Read more

Bookmark and Share

Posted on April 20, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

VENDER TRENDER: CCH Links with 10-K Wizard

CCH is linking up its Accounting Research Manager with 10-K Wizard to launch 10-K Lookup for SEC EDGAR research. This means that the corporate accounting and financial executives who now rely on CCH’s Accounting Research Manager, will also get access to SEC EDGAR filing detail through a licensing agreement with 10-K Wizard.

Read more

Bookmark and Share

Posted on April 20, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

LETTERS: ‘Tremendous Benefit’

From:
Dax Stoner, CPA/ABV, CVA
St. Paul, MN

“As a single member firm, I have to be very efficient with my time. The problem is not getting the business, it’s getting TO the business. Your articles on time, client and stress management are of tremendous benefit.

“You boil it down and give real-life examples of what’s working and what isn’t for other professionals just like me. That’s why I rely on what you do. Nowadays, we get all the technical writings we want with ease; in fact, we are inundated with technical teachings. You talk about soft issues that matter as much or more, like how to use one’s time better, balance work and personal life, and craft strategies for dealing with challenging client situations. In short, you help me run my business better.”
Read more

Bookmark and Share

Posted on April 19, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

VENDOR TRENDER: Construction Niche Heats Up

Foundation Construction Software To Add Audit/Review Module

Foundation Software, a developer of construction accounting systems, is pushing ahead with plans to add a CPA Audit/Review Module that would compliment their FOUNDATION for Windows construction accounting software program. The company said it is working jointly with various construction-focused CPA firms to design the add-on.

?After speaking with thousands of contractors and their CPA firms over the years, a common request has been for a quick and accurate method to gather the necessary information easily from a client?s accounting software,? stated Fred Ode, Foundation Software CEO/Chairman. Details at www.foundationsoft.com. Read more

Bookmark and Share

Posted on April 19, 2005
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

keep looking »