Twitter Trends for Business: 149 Smart, Interesting People to Follow Today

Whether or not you can make it to the #140conf in New York April 20-21 at the 92nd Street Y, the list of speakers represents a veritable Who’s Who of business-savvy Twitterers worth following.

The event could be the largest gathering of it’s kind as participants take a hard look at what organizers are calling “The State of NOW” and the effect of the real-time Internet  on business.

Some of the 150 speakers at #140conf  worth following are:

  1. - AJ Leon (http://www.twitter.com/ajleon) – co-creator, #twitterkids
  2. - Alexis Maybank (http://www.twitter.com/giltfounder) – Co-Founder and Chief Strategy Officer of Gilt Groupe
  3. - Alf LaMont (http://www.twitter.com/Alflamont), The Comedy Store
  4. - Alon Nir (http://www.twitter.com/TheKotel)
  5. - Amanda Wernick (http://www.twitter.com/funomenalrealtr) – REALTOR Associate, Licensed: CA
  6. - Amy Rosenbaum (http://www.twitter.com/Joan_Rivers)
  7. - AndreaSyrtash (http://www.twitter.com/AndreaSyrtash) – Author of ‘He’s Just Not Your Type (And That’s a Good Thing)
  8. - Andy Carvin (http://www.twitter.com/acarvin) – Senior strategist at NPR
  9. - Andy Dixon (http://www.twitter.com/andydixn) – Singer, Songwriter, Author
  10. - Angela Gruszka (http://www.twitter.com/ABC_Carpet) – Public Relations Director at ABC Carpet and Home
  11. - Angela Shelton (http://www.twitter.com/angelashelton)
  12. - Ann Curry (http://www.twitter.com/AnnCurry) – News Anchor on NBC’s Today Show
  13. - Aparna Vashisht (http://www.twitter.com/Parentella) – Founder, Parentella
  14. - Avner Ronen (http://www.twitter.com/avneron) – CEO, co-founder, Boxee
  15. - Bijan Sabet (http://www.twitter.com/bijan) – Partner, Spark Capital
  16. - Bill Hankes (http://www.twitter.com/bhankes) – VP, Corp Comm, RealNetwork
  17. - Blair Kelley (http://www.twitter.com/profblmkelley) – Professor at North Carolina State University
  18. - Bob Watson (http://www.twitter.com/TopBrokerOC)
  19. - Brad Hunstable (http://www.twitter.com/bhunstable) – co-founder, Ustream.tv
  20. - Bronwyn Barnes (http://www.twitter.com/InStyle) – Associate Entertainment Editor for InStyle.com
  21. - Bruce Upbin (http://www.twitter.com/bupbin) – Managing Editor at Forbes
  22. - C.C. Chapman (http://www.twitter.com/cc_chapman)
  23. - Cathy Brooks (http://www.twitter.com/CathyBrooks)
  24. - Chris Bartlett (http://www.twitter.com/harveymilk)
  25. - Chris Lehmann (http://www.twitter.com/chrislehmann) – Principal of the Science Leadership Academy
  26. - Chris Weingarten (http://www.twitter.com/1000TimesYes), Music Critic
  27. - Corvida Raven (http://www.twitter.com/corvida) – Student
  28. - Craig Engler (http://www.twitter.com/Syfy) – SVP, SYFY Digital
  29. - Dan Harple (http://www.twitter.com/dharple) – Executive Chairman, GyPSii
  30. - Daren Forsyth (http://www.twitter.com/DarenBBC) – Founder, 140Characters.co.uk
  31. - Dave Winer (http://www.twitter.com/davewiner) – Software developer, Entrepreneur, Writer and NYU Scholar
  32. - David All (http://www.twitter.com/DavidAll) – Health Care/Capitol Hill Tweets Founder
  33. - David Carr (http://www.twitter.com/carr2n) – Writes Media Equation column, blogs http://www.twitter.com/ Decoder & covers pop culture at NY Times
  34. - David DeVore (http://www.twitter.com/daviddentist) – Dad, David After Dentist
  35. - David Faggard (http://www.twitter.com/USAirforce), Capt, USAF Secretary of the Air Force, Office of Public Affairs
  36. - Debra Bowen (http://www.twitter.com/DBowen) – Secretary of State, California
  37. - Deirdre Sullivan (http://www.twitter.com/GrittyPrettyPR) – Principal / Social Media
  38. - Dennis Crowley (http://www.twitter.com/dens) – co-founder, FourSquare
  39. - Dennis Allen (http://www.twitter.com/dennis_allen)
  40. - Diane Guercio (http://www.twitter.com/HeyAmaretto) – REALTOR, Boston, MA
  41. - Donny Deutsch (http://www.twitter.com/Donny_Deutsch) – Television Host & Chairman, Deutsch Inc.
  42. - Elon James White (http://www.twitter.com/elonjames) – Comedian and Social Critic
  43. - Eric M. Singley (http://www.twitter.com/ericsingley) – Product Manager, Yelp
  44. - Eric Sheninger (http://www.twitter.com/NMHS_Principal) – Principal of New Milford HS (NJ)
  45. - Eric Stegemann (http://www.twitter.com/EricStegemann) – Broker, Licensed: MO
  46. - Fabien Cousteau (http://www.twitter.com/fabiencousteau)
  47. - FakeJerry Paffendorf (http://www.twitter.com/WELLO) – Artist, futurist, entrepreneur
  48. - Gary Vaynerchuk (http://www.twitter.com/garyvee), Wine guy, host of Wine Library TV
  49. - Gavin Purcell (http://www.twitter.com/gavinpurcell) – Producer, Late Night with Jimmy Fallon
  50. - George Haines (http://www.twitter.com/oline73) – Technology Teacher
  51. - Grace Bonney (http://www.twitter.com/designsponge) – Design Blogstress
  52. - Hammer (http://www.twitter.com/MCHammer), Music Artist
  53. - Hank Wasiak (http://www.twitter.com/hankwasiak) – Author, TV Host, Ad Guy
  54. - Imal Wagner (http://www.twitter.com/imalwagner) – Moderator
  55. - Ivanka Trump (http://www.twitter.com/IvankaTrump)
  56. - Jacob Soboroff (http://www.twitter.com/jacobsoboroff) – http://www.twitter.com/AMCnews Correspondent and Executive Director of http://www.twitter.com/WhyTuesday
  57. - Jay Rosen (http://www.twitter.com/jayrosen_nyu) – Journalism professor, NYU
  58. - Jeff Jarvis (http://www.twitter.com/jeffjarvis) – blogger, author, professor
  59. - Jeff Keni Pulver (http://www.twitter.com/jeffpulver) – Creator, #140conf
  60. - Jeff Newelt (http://www.twitter.com/JahFurry) – Editor, The Pekar Project; Comics Editor, HEEB, SMITH, & ROYAL FLUSH Mags
  61. - Jeffrey Hayzlett (http://www.twitter.com/JeffreyHayzlett) – CMO, Kodak
  62. - Jeffrey Merrihue (http://www.twitter.com/JeffreyMerrihue) – Chairman, MoFilm
  63. - Jeffrey Sass (http://www.twitter.com/sass) – Vice President, Business Development, Myxer Inc.
  64. - Jessica Gottlieb (http://www.twitter.com/JessicaGottlieb)
  65. - Jim Jones (http://www.twitter.com/jimjonescapo) – Music Artist
  66. - Joan Walsh (http://www.twitter.com/joanwalsh) – Editor in Chief, Salon
  67. - Joe Randazzo (http://www.twitter.com/Randazzoj)
  68. - Joe Trippi (http://www.twitter.com/JoeTrippi) – http://www.twitter.com/WhyTuesday advisory board member
  69. - John Bell (http://www.twitter.com/jbell99 ) – Managing Director, Ogilvy’s 360 Digital Influence
  70. - John Bernier (http://www.twitter.com/bernierjohn ) – Social Media Manager at Best Buy. http://www.twitter.com/twelpforce
  71. - John Borthwick (http://www.twitter.com/JohnBorthwick ) – CEO of betaworks
  72. - John Kremer (http://www.twitter.com/JohnKremer) – Author
  73. - John Magennis (http://www.twitter.com/supernanny_com )
  74. - John Strauss (http://www.twitter.com/johnstrauss ) – Owner, John Strauss furniture design, ltd.
  75. - Jonathan Maberry (http://www.twitter.com/JonathanMaberry ) – Author, Marvel Comics Writer
  76. - Jonathan Markwell (http://www.twitter.com/jot )
  77. - Jonathan Mildenhall (http://www.twitter.com/Mildenhall) – VP Global Advertising, Coca Cola
  78. - Josh Williams (http://www.twitter.com/jw ) – Founder, CEO, Gowalla
  79. - Joshua Fouts (http://www.twitter.com/josholalia ) – Cultural relations futurist
  80. - Julie Spira (http://www.twitter.com/JulieSpira ) – Author, dating coach
  81. - Kathleen Hessert (http://www.twitter.com/kathleenhessert ) – President, Sports Media Challenge
  82. - Kelly Sutton (http://www.twitter.com/KellySutton )
  83. - Kevin Jarrett (http://www.twitter.com/kjarrett ) – K-4 Technology Teacher
  84. - Kimberly Miller (http://www.twitter.com/StyleWatchMag ) – VP of Consumer Marketing, People StyleWatch
  85. - Kyle B. Pace (http://www.twitter.com/kylepace ) – Teaching K-12 teachers about technology infusion
  86. - Lacy Kemp (http://www.twitter.com/RealTweeter )
  87. - Lauren Litwinka (http://www.twitter.com/beebow )
  88. - Leslie Hall (http://www.twitter.com/dollyhall ) – President, ICED Media
  89. - Leslie Sanchez (http://www.twitter.com/LeslieSanchez ) – Author and a former Bush presidential advisor
  90. - Lisa Cohen (http://www.twitter.com/cohills )
  91. - Lisa Nielsen (http://www.twitter.com/InnovativeEdu) – Educational Technologist – NYC Dept of Ed
  92. - Liz Strauss (http://www.twitter.com/lizstrauss) – Founder of SOBCon, brand strategist
  93. - Liza Sabater (http://www.twitter.com/blogdiva) – Publisher of Culturekitchen & DailyGotham
  94. - Luke Renner (http://www.twitter.com/firesideint)
  95. - Maegan Carberry (http://www.twitter.com/maegancarberry)
  96. - Marc Sirkin (http://www.twitter.com/autismspeaks) – Chief Community Officer, Autism Speaks
  97. - Mary Beth Hertz (http://www.twitter.com/mbteach) – K-6 Computer Teacher and Technology Teacher Leader in Philadelphia
  98. - Matt Pinfield (http://www.twitter.com/mattpinfield) – Morning show host on WRXP 101.9 FM in New York City
  99. - Matthew Bishop (http://www.twitter.com/mattbish) – NY Bureau Chief, The Economist
  100. - Maya Bisineer (http://www.twitter.com/thinkmaya)
  101. - Maya Paveza (http://www.twitter.com/mayaREguru) – Realtor, DE/PA
  102. - Maz Nadjm (http://www.twitter.com/Mazi) – Social networking at Sky Television
  103. - Melinda Emerson (http://www.twitter.com/SmallBizLady)
  104. - Melissa Leon (http://www.twitter.com/melissaleon) – Creator of #twitterkids
  105. - Meredith Fisher (http://www.twitter.com/InsideDVF) – Editorial Brand Director, Diane von Furstenberg Studio
  106. - Micah Baldwin (http://www.twitter.com/micah) – CEO and Chief Community Caretaker, Graphic.ly
  107. - Michael Ian Black (http://www.twitter.com/michaelianblack)
  108. - Michael Kupperman (http://www.twitter.com/MKupperman)
  109. - Michael Tasner (http://www.twitter.com/tazsolutions)
  110. - Mo Krochmal (http://www.twitter.com/Krochmal) – Professor, Hofstra Univesity
  111. - Nancy Scola (http://www.twitter.com/nancyscola)  - associate editor at http://www.twitter.com/techPresident
  112. - Natalie Gulbis (http://www.twitter.com/natalie_gulbis)  - Pro Golfer
  113. - Nate Erickson (http://www.twitter.com/NateErickson)  - Intern for Wyclef Jean and Haiti Volunteer
  114. - Nathan Levinson (http://www.twitter.com/N8theSk8)  - The Viper Room
  115. - Nick Bilton (http://www.twitter.com/nickbilton)  - Lead Technology Writer, New York Times
  116. - Noush Skaugen (http://www.twitter.com/noushskaugen)  - Music Artist
  117. - Oz Sultan (http://www.twitter.com/ozsultan)  - Remembrance in the Real-Time Web
  118. - Pat Kiernan (http://www.twitter.com/patkiernan)  - News Anchor, NY1
  119. - Paul Rieckhoff (http://www.twitter.com/PaulRieckhoff)  - Founder of Iraq & Afghanistan Veterans of America (IAVA)
  120. - Peter Corbett (http://www.twitter.com/corbett3000)  - CEO of iStrategyLabs
  121. - Peter Gregson (http://www.twitter.com/petergregson)  - Cellist
  122. - Rick Borutta (http://www.twitter.com/CBSborutta)  - Producer, CBS Backstage LIVE
  123. - Rita J. King (http://www.twitter.com/RitaJKing)  - Innovator-in-Residence, IBM Analytics Virtual Center, #SmarterWork project.
  124. - Ron Hogan (http://www.twitter.com/RonHogan)  - Author
  125. - Ryan Leslie (http://www.twitter.com/ryanleslie)  - Music Artist
  126. - Ryan Osborn (http://www.twitter.com/todayshow)  - Producer, NBC’s TODAY
  127. - Ryan Penagos (http://www.twitter.com/Agent_M) – Editor of Marvel.com. Writer
  128. - Sarah Cooley (http://www.twitter.com/sarahcooley)
  129. - Scot McKay (http://www.twitter.com/ScotMcKay) – Dating Coach
  130. - Sean Suchter (http://www.twitter.com/ssuchter)  - General Manager, Search Technology Center Silicon Valley, Microsoft
  131. - Shelly Palmer (http://www.twitter.com/shelly_palmer)  - Host of MediaBytes with Shelly Palmer, president of the Emmy Awards
  132. - Shira Abel (http://www.twitter.com/shiraabel)
  133. - StaceyMonk (http://www.twitter.com/StaceyMonk) – Founder of Epic Change & TweetsGiving
  134. - Stefanie Michaels (http://www.twitter.com/adventuregirl) – Travel Expert
  135. - Steve Garfield (http://www.twitter.com/stevegarfield) – Author, Get Seen: Online Video Secrets to Building Your Business
  136. - Steve Greenberg, founder/CEO, S-Curve Records (http://www.twitter.com/steviegpro)
  137. - Steve Grove (http://www.twitter.com/grove) – Head of News and Politics at YouTube
  138. - Steven W. Anderson (http://www.twitter.com/web20classroom) – Technology Educator, Blogger, Co-Creator of #edchat
  139. - Stowe Boyd (http://www.twitter.com/stoweboyd )
  140. - Tal Givoly (http://www.twitter.com/givoly ) – Chief Scientist, Amdocs
  141. - Ted Cohen, Managing Partner, TAG Stragegic (http://www.twitter.com/spinaltap )
  142. - Thomas Miller (http://www.twitter.com/TomfooleryTM ) – General Manager, Your Tango
  143. - Tim Ferriss (http://www.twitter.com/tferriss ) – Author
  144. - Tish Shute (http://www.twitter.com/TishShute ) – “enthusiast for our networked potential to make a better world”
  145. - Tom Brevoort (http://www.twitter.com/TomBrevoort)  - Executive Editor/VP, Marvel Comics
  146. - Tom Whitby (http://www.twitter.com/tomwhitby)  - Professor of English in Secondary Education
  147. - Whit Jones (http://www.twitter.com/whitjones)  - Energy Action Coalition – Climate
  148. - Xavier Jernigan (http://www.twitter.com/XavierJernigan )  - Senior Director, Digital Marketing, Universal Motown
  149. - Yoni Bloch (http://www.twitter.com/yonibloch ) – Music Artist

In the meantime  check out the #140conf NYC schedule http://nyc.140conf.com/schedule.

And let us know if we missed any of your favorites at http://www.twitter.com/cpa_trendlines.

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Posted on March 29, 2010
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The Federal HIRE Act: A Win-Win for Business and the Workplace

Signed into law by President Obama on March 18, the HIRE Act has the potential to be a direct boost to a business’ bottom line because it will both help employers and at the same time encourage job creation.

Butler

by Gary Butler
President and CEO of ADP

Far too many Americans are currently unemployed, yet many small- and medium-sized businesses remain at the cusp of resuming hiring.  It is hoped that the HIRE Act will serve as a catalyst that will help our economy recover.   I believe this jobs bill is a good piece of legislation that comes at a very opportune time.

The HIRE Act provides incentives for businesses to hire new employees sooner rather than later.  The incentives for businesses are straightforward, immediate and are available for each job created. The bill eliminates the current 6.2 percent employer Social Security tax for eligible new employees, generating immediate savings that will positively impact a business’ bottom-line.   It also requires any new hire to certify his/her previous employment status by signed affidavit.  Additionally, companies are afforded a significant income tax credit of $1,000 per qualifying worker once the worker is employed for at least 52 consecutive weeks.

While these measures are welcome by employers, staying compliant in this complex and quickly changing business environment can be a burden for companies of all sizes.  ADP, the leading provider of outsourced HR, payroll and benefits administration services, is committed to making it easy for clients to remain compliant while reducing expenses and increasing cash flow. We’ve done this before, helping businesses reap the benefits of special legislation such as the Katrina Tax Credit and the Cobra Stimulus Plan.

For employers already stretched thin, administration and compliance can be a somewhat complex and time consuming process.  Pre-selection and screening of eligible employees, affidavit certification, eligibility reporting, compliance support, documentation and audit support as well as tax credit administration are all tasks that the business must execute either on their own, or with support of companies like ADP which has helped businesses for over 60 years to reap the benefits of special stimulus legislation.

At a time when employers are challenged to do more with less, outsourcing non-core or administrative tasks is one way to enhance employee productivity and increase profitability.  Legislative reform is a major focus of the current administration, and regulations like the HIRE Act will continue to put pressure on employers to understand and respond to new requirements. Helping clients understand and take advantage of legislation like the HIRE Act is a primary benefit of partnering with ADP.

Gary Butler is the President and CEO of ADP, serving some 570,000 clients worldwide. For more information and to obtain an estimate of a company’s potential HIRE Act savings, visit www.ADP.com/JobTaxCredit or call 1-888 5 ADP SAVE.

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Posted on March 29, 2010
Filed Under BSG [CPA TRENDLINES] | 1 Comment

Recession’s Effects Show in Tax Season Filings

IRS releases key benchmarks.

via IRS

Electronically filed tax returns are on track with last year and overall refunds are running nearly 10 percent higher so far in 2010, according to statistics issued today by the Internal Revenue Service.

The statistics issued today, covering the period through March 12, show that while the overall number of tax returns filed this year is down slightly, the percentage of returns using e-file remains strong. More than 82 percent of the 69 million returns received this year have come in via e-file. Home usage of e-file is up almost 7 percent compared to this time last year.

Additionally, the average federal refund totaled $3,036, an increase of $266 compared with the same period a year ago.

The refund increase follows a number of federal tax incentives enacted last year as part of the American Recovery and Reinvestment Act, such as the homebuyer credit and the American Opportunity Credit.

“There are several new credits and deductions this year, so we encourage taxpayers to see if they qualify when they fill out their tax return,” said IRS Commissioner Doug Shulman. “To get their refunds quicker, the IRS reminds taxpayers that the fastest, easiest way is to e-file and use direct deposit.”

2010 FILING SEASON STATISTICS

Cumulative through the weeks ending 03/13/09 and 03/12/10

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Posted on March 23, 2010
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The Big Mistake CPAs Make in Client Service

How to find new success by shifting your firm’s focus from service-centric silos to client-centric goal-setting.

by Rick Telberg

Most accounting firms believe they provide pretty good client service. And most of them are probably right.

But there are other firms that strive to deliver more than just satisfactory service. They are seeking to go a step further, something beyond merely satisfying clients, something akin to wowing clients. Perhaps they know what Bain & Co. consultant Fred Reichheld discovered in 1995: Even among clients who say they are perfectly “satisfied,” half will change providers anyway. Clearly, customer satisfaction is not enough. Something more is needed.

To be sure, more accountants today are focused on pushing fresh tax returns out the door than on esoteric discussions of client service. But it’s exactly when you have the client’s most ardent attention that you have a real opportunity to vault past mere satisfaction.

Osborne

Most firms are service centric, meaning they focus on the services they provide, i.e. tax, assurance or estate planning. But in too many firms, that means the client becomes fixed in one silo. In other words, if they came in as a tax client, the tax department probably “owns” them. Of course, if the client needs an audit, the tax department “refers” them to the audit department.

To completely embrace the client, Edi Osborne of MentorPlus in Carmel Valley, Calif., is telling CPA firms to “stop looking at the client through your services and instead start looking at the client like a client. They have all sorts of needs and desires, challenges and goals. And it’s not all about finance.”

You may already know Osborne from her work with the AICPA — a few years ago — bringing performance-management techniques to CPA firms. Today she’s not saying that taxes and accounting aren’t important, but she is saying CPAs have an under-leveraged opportunity to work with clients to improve operations, strategy, processes and even hiring.

“Everything in business comes down to numbers. That’s how you run a business,” she says. “It’s just not all measured in dollars.”

Many key performance indicators are familiar to accountants, such as receivables days outstanding, inventory turns or return on equity. But accountants can also help clients “drill down to what’s important, to what drives those KPIs (key performance indicators),” Osborne says. Accountants can ask, what are the behaviors and processes that drive the KPIs? They can help clients connect the employee or customer actions that determine the KPI outcomes.

For instance, are orders getting out late because of data entry errors? An accountant informed in process management can tell. And an accountant can bring a fresh perspective.

In one case, an ambulance company was trying to accelerate its collections. “You’d think that getting the billing out fast would do the trick,” Osborne says. “But that wasn’t the problem. In fact, faster billing actually delayed collections.” The reason? The bills were going to the patient’s address. Not only was the patient in the hospital and not picking up their mail, but the patient wasn’t even the linchpin in getting paid. It was the hospital. So the ambulance company started billing the hospital instead and collections improved.

In a service-centric approach, the tax accountant or the audit partner may never have asked the questions that led to finding the right problem. But with a client-centric philosophy, any accountant working on the account could be observing, listening, questioning and analyzing.

In the end, the approach can lead to greater revenue per client at higher fees with better margins. It may sound like rainmaking, but it’s not about rainmaking. It’s about understanding the client as a whole, not just as numbers in a spreadsheet. With some basic skills and tools, Osborne says, “anyone can be a rainmaker. You don’t need to be a superstar.”

NOW IT’S YOUR TURN: What’s the secret to delighting clients? E-mail me with your comments, ideas, rants, raves or questions.

Copyright 2010 AICPA.


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Posted on March 22, 2010
Filed Under BSG [CPA TRENDLINES] | 3 Comments

Sam Allred Launches New Sales Training Program

For new partners and senior managers.

via Upstream Academy

Set to launch in June, the Academy for Business Development will bear many of the signature characteristics of Upstream Academy’s other programs.

Allred

“Everything we do at Upstream emphasizes timeless principles, proven processes, and practical accountability,” said Sam Allred, who founded Upstream Academy nearly a decade ago.  “We’re thrilled to have Graham Wilson, a world class trainer and expert on business development in public accounting firms, join us for this new program.”

“With clients hunkered down trying to ride out the recession, increased client attrition, and the Baby Boomers retiring in ever-greater numbers, a lot of firms are worried about where new business is going to come from next year, three years from now, and five years from now,” Allred said.  “Graham and I want to be part of the solution to that problem.”

Key features of the intensive, 18-month program include the following:

Interested firm leaders can learn more about the Academy for Business Development by participating in a free conference call presentation on April 22nd or May 5th.  To register for the call, contact Upstream Academy at 406-495-1850.

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Posted on March 19, 2010
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CPA Click: What Accountants Are Reading

In case you missed it this week.

Top hits and retweets from Twitter.com/cpa_trendlines in the last seven days:

  1. Do You Know the Top Seven Growth Areas for CPAs? http://ow.ly/16J2pG
  2. How do accountants define “success?” http://ow.ly/1eZUh
  3. Top Secrets of a CPA Start-Up http://ow.ly/1o6Qh
  4. The Accountant in the Modern World – Francine McKenna http://ow.ly/16LKdM
  5. Jim Boomer: Accountability – The Lifeline of Firm Success http://ow.ly/16KZB6
  6. Rita Keller: CPA Managers Need to REALLY Manage http://ow.ly/16LweU
  7. NetSuite to Launch as First Cloud Computing ERP Suite For Google Apps Marketplace http://ow.ly/16OsFk

.

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Posted on March 19, 2010
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How to Find Opportunity in ‘The New Normal’ [VIDEO]

Is today the right time to invest in new processes and grab some good talent?

While some accounting firms struggle in the economic downturn, others are finding new opportunity for growth, profit and investment, according to Teresa Mackintosh, senior vice president in charge of the tax and accounting software unit at Thomson Reuters.

Local accounting firms, she says, are “the fabric of America.” They’ve been through as much uncertainty and turmoil as many of their clients.

But Mackintosh says some savvy firms can seize this period as “an opportunity to double down on process and to hire staff.”

More video from Mackintosh:

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Posted on March 19, 2010
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14 Clues Your Firm is Headed for Merger

And 5 things you can do about it.

by Rick Telberg

The next 15 years could see as many mergers or acquisitions among accounting firms as we’ve seen in the last 100, according to conventional wisdom.

The reasons, of course, are well-known: simple demographics. The baby boomer generation that built today’s CPA industry is facing retirement. And the accounting business is not alone. Indeed, U.S. industries across the spectrum are facing the same issues of wealth transfer, knowledge shortage and looming changes in ownership control and management culture.

So every CPA and finance executive could be affected by this megatrend in one way or another.

If you’re planning to retire any time soon, the rest of this article is not for you. You either know what you need to do or it’s too late to help you.

But if you belong to the next generation of CPAs, the generation that’s going to take over from today’s retirement-minded partners and managers, then read on. This post is for you.

While the baby boomer generation plots its exit strategies, many among the Millennials, Gen X-ers, and Gen Y-ers are chomping at the bit.

Dominic Cingorelli and Bill Reeb are here to help you catch the signs of an impending merger at your firm.

Both are CPAs and consultants to the profession through The Succession Institute and the new two-volume set on succession planning, “Securing the Future.” The set may be as relevant for up-and-coming partners-in-training as it is for anyone structuring a firm strategically for the future.

Look for these eight signs that your firm will be shopping for an upstream merger when the partners-in-control come to believe:

1. We can get more for our retirement benefit from a merger.

2. We don’t believe that the remaining partners have the leadership ability.

3. We don’t believe that the firm will stay together after we leave.

4. We have some partners who refuse to be held accountable.

5. We are short on talent, either at the junior-partner level or the next tier down.

6. Our financial results are not particularly shiny.

7. We have a specialty niche and talent pool that requires a bigger client base than we can access.

8. Our business processes and practices are somewhat out of date.

And look for these six signs that your firm will be looking to acquire another firm when you start hearing:

1. We need more market share gains than we’re getting now.

2. We’d like to add some new services. We don’t have the people for now.

3. We need to prop up a marginal office or expand geographically.

4. We are short on talented people.

5. We have too many partners around the same age and we don’t think our junior partners have the leadership ability for the firm to continue over the long run.

6. We have some partners who refuse to be held accountable. (Yes, this item is in both lists.)

Whether your firm is looking upstream or downstream, you can tell from just looking at those lists, what you need to do. Starting with:

1. Develop your client skills and build a book of business.

2. Dig in to a specialty and become the acknowledged go-to person for all technical questions on the topic.

3. Pay attention to your firm’s financials.

4. Help upgrade operating procedures and technologies.

5. Ask the partners the tough questions about the future of the firm.

Whether the old guard knows it or not, Next Gen CPAs are waiting in the wings. Your time is here.

Copyright 2010 AICPA.
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Posted on March 18, 2010
Filed Under BSG [CPA TRENDLINES] | Leave a Comment

Six Ways to Save a Client Today

Local accounting firm redefines “R&D” for client retention and business development. How to keep clients happy and build your business.

by Rick Telberg

At most companies, “R&D” means “research and development.” But at Dugan & Lopatka CPAs in Wheaton, Ill., every staffer knows it means client “retention and development,” as in business development.

Lopatka

Like many firms faced a couple years ago with the credit crash and ensuing Great Recession, Dugan & Lopatka’s attention was wrenched from landing new clients to serving the clients they already had. “We started a renewed focus on client retention and business development,” according to Managing Principal Jerry Lopatka, who dropped me a line in response to “Do You Know the Secrets of Happy Clients?”

Dugan & Lopatka has 45 people, including nine principals. It specializes in the usual small- and medium-size business lines — manufacturing, distribution, real estate and construction. This tax season, they’ll probably do about 750 returns.

Today, what the firm abbreviates as “Biz R&D” “is a daily focus for all of us,” Lopatka says.

The firm’s “Biz R&D” program contains six building blocks, which may be intuitive for many and familiar to anyone who has studied relationship marketing or consultative selling:

1. Going the extra mile on the current engagement.

  • Conducting extra analysis using business-intelligence tools like BizBench.
  • Bring the project in earlier than promised.
  • Or hand-deliver reports and discuss in person.

2. Increasing the amount of client contact.

  • Visit at every opportunity.
  • Schedule business meetings near mealtimes to grab some extra quality time over a nice meal.
  • Invite the client into the firm’s office.

3. Building the business relationship.

  • Help the client network with your other clients.
  • Offer free seminars for the client’s staff.
  • Refer new business to the client.

4. Building the personal relationship.

  • Understand their goals in life and business.
  • Get hard-to-find tickets to big games or shows.
  • Remember birthdays and anniversaries.

5. Increasing knowledge of the client’s industry.

  • Read the same trade journals they do.
  • Learn all you can about their competitors.
  • Join them at trade shows.

6. Increasing knowledge of the client’s company.

  • Spend time with the junior managers.
  • Understand the company’s power structure.
  • Meet the boss.

Of course, the firm’s leadership knows that the “R&D” plan would mean nothing without support from the staff. So they launched it at a firm-wide meeting, tied it into training consultant Troy Waugh’s Five Star Client Service Model.

On top of that, Lopatka nudges them with an early-morning daily e-mail. By the time you read this, the firm may be posting those notes on a blog, open to clients and prospects. Check their Web site.

Is all the effort worth it? What’s the ROI, every CPA asks. “I can’t quantify it,” Lopatka admits. “But I’m afraid what to think if we didn’t have the program.”

“We try, but we can always do better,” he says. “As I often tell our employees — our good clients are on our competitor’s radar screen.”

Let that be fair warning to Dugan & Lopatka’s competitors, as well.

ARE THEY ON THE RIGHT TRACK? Dugan & Lopatka is one of many firms pioneering new techniques and strategies for successful CPA firm management. What’s working at your firm? Tell me and we’ll share the best ideas.

Copyright 2010 AICPA.
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Posted on March 15, 2010
Filed Under BSG [CPA TRENDLINES] | 2 Comments

keep looking »