The Big Issue for 2013: Fee Pressure

Rick Telberg

But that's not the real problem.

A media outlet contacted me the other day to ask:

"What challenges or opportunities do you predict for the accounting profession in 2013?"

Here's what I told them: READ MORE →

Six Ways to Stay Positive in 2013

How to remain on track despite setbacks and detours.

Nick Keseric

Nick Keseric

by Nick Keseric

Is there a change? Is the economy showing some slight signs of getting a little bit better and stronger? Is it the beginning of a new year that brings new hopes?

I actually believe that some of those frowns that people have been wearing for years are beginning to be turned upside down a little more these days. Do I dare say it, but are we becoming more positive? READ MORE →

SURVEY RESULTS: Accountants’ New Year’s Resolutions — 2013 Edition

'Tis the season for new promises and plans. 

We've been asking finance and accounting accounting professionals about what 2013 may hold, and you've been answering. To get all the details, click here to join the survey and get the results.

Meanwhile, here are a few sample New Year's resolutions from colleagues and peers. Some may sound all too familiar from resolutions made in 2012. Personally, I'm still working on the lose-15-pounds resolution from 2012, and, er, 2011, 2010, 2009... Oh well.

-- Rick Telberg
President / CEO 

New Year's resolutions from finance and accounting professionals:

  • New SEO plan for getting higher ranking on Google.
  • Working with tax resolution professional and preparing returns for them at a split fee.
  • Work more on marketing
  • Downgrade expectations.
  • Get more audits of private companies.
  • Work, work and work, because of so much competition and unemployment, the best bet is to keep busy by working and get the maximum out of colleagues/sub ordinates. I will not be carried away with number 13, this is my lucky number so I will capitalize on this number. READ MORE →

Top 10 Tech Predictions for Your Business Clients

And why you need to be more demanding of your IT vendors.

With technology constantly changing the rules of the game, it's almost impossible to keep up. Let alone to stay a step ahead. But here, from the analysts at SMB Group, are a few trends to watch with your small-business and mid-size-business clients and stakeholders. Some also apply to accounting firms. Many of these trends will need more investment and evangelism from vendors for CPAs and their clients to obtain maximum benefits.

-- Rick Telberg
President / CEO 

1. Be prepared for the most progessive-thinking clients to sprint ahead of their peers. And watch out for the accounting firms that are doing the same.

Last year we identified a distinct correlation between investments in technology and business performance. Progressive companies and firms are more growth driven, invest more in technology and use technology for competitive advantage. They are also much more likely to anticipate revenue gains than peers whose tech investments are flat or declining—and the gap is widening. READ MORE →

The “Aha Moment” in CPA Firm Leadership

Are you leading, or merely managing or administering?

by Marc Rosenberg, CPA
Author of “CPA Firm Management and Governance”  

When attending conferences, we love “aha” moments.  Those are moments when a speaker says something so profound that it causes a sudden understanding of a major issue and captures our imagination.  We can’t wait to get back to the office, share it with our partners and start implementing the idea.

More on CPA Firm Management and Leadership:   Leadership Is Overrated: It’s Good Management that Makes Successful Firms   40 Great Ways to Improve Firm Profitability  •  Four Management Metrics that Fool Even the Best-Run Firms  •  19 Ways to Improve Accounting Firm Profitability • De-Bunking the Myth about Niche Marketing for Tax and Accounting FirmsPractice Development Is No Longer an Optional Activity10 Good Ways the Achieve Partner AccountabilityPick Your Partners Right to Begin WithThe First Nine Questions Your Partner Team Needs to Embrace for Optimal ProfitabilityProfitability and The Value of Strategic ThinkingThe Five Essential Building Blocks for Creating a Strong Accounting FirmThe Seven Signs of Great Leadership in a CPA FirmCompensation Issues for the New Managing Partner •

Marc Rosenberg

Marc Rosenberg

I had an “aha” moment not so long ago.  The speaker was Bob Bunting, long time managing partner of regional firm  Moss Adams, a leader in our profession par excellence.   He delivered a very simple but powerful statement that described a value system at Moss Adams:

  • Leadership is worth more than your billing rate.
  • Management is worth your billing rate.
  • Administration is worth less than your billing rate.

My take on this is: READ MORE →

Ask the Geek: A Couple Great Gadgets for Saving Money on All Your Other Gadgets

Two inexpensive gadgets that could save you big money.

More from Ed Mendlowitz, author ofImplementing Fee Increases," plus: Three and a Half Ways to Get Your Own CPA Practice | Novice Manager Needs to Know: How To Do It All? | Why No One Listens to You | Fun Reads for Busy Season  |  When NOT to Offer a Free Initial Consultation | Measuring Growth in Yourself, Staff and Partners  |  What Do You Think You’re Doing?  | Can You Teach Judgment?  |  Clients’ Calls At Home  | What You Need to Know before Expanding into Business Valuation |

Question: I'm having a long-standing 'disagreement' with my husband about whether we should turn off our home computer when we leave for the day. I like to be as Green as we can, but he's read somewhere that it causes more 'wear and tear' and energy use to be constantly turning things on and off. I think he just doesn't like to wait for it to start up! What's your take?

Answer: I'd rather not take sides in a domestic (ahem) power struggle, but as your husband may have found when Googling around on the topic, PC power saving can be a complicated business. Still, I have some tips that may result in a household compromise. I went to a geek colleague, Scott Dare, for his suggestions. READ MORE →

Accountants, Do You Know Your Opportunity Number?

The pragmatic six-step way to evaluate potential new clients.

By Sandi Smith, CPA
Accountant's Accelerator

Every week, do you get wonderful, exciting calls from new clients who want to use your services? You might want to talk with every one of them to get the sale. The problem is, if you do, you’re likely to go bankrupt. Let me explain.

Sandi Smith

More for soloists and small firms from at CPA Trendlines:  Five Ideas to Reduce Client Price-Sensitivity  Rise to the Top with a Fresh Elevator Speech  •  Four Ways to Practice Entrepreneurial Perseverance • 5 Mistakes to Avoid When Seeking New Clients •  The Success Secrets Women Already Know  • His and Her Brains at Work in Tax and Accounting  • The Power of Deadlines in Closing a Deal On the Road to a Stress-Free Life: Identify Your Character StrengthsThe Missing Ingredient in Your Marketing That Will Make All the Difference  •

Each of us has 24 hours in one day. Most of us have annual revenue goals. A few of us have monthly, weekly, daily, or even hourly revenue goals. Hopefully you know what your revenue goal is. (If not, you should!) If you don’t pull in that level of revenue for the week or month, then you’ve missed your plan.

Let’s say you want to generate $1 million in sales for the year. On average, you need to pull in $20,000a week. That’s $4,000 a day. READ MORE →

What Accounting Firms Need to Learn from Personal Financial Planning Specialists

Is the traditional business model holding back the profession?

by Bruce W. Marcus
Author of Professional Services Marketing 3.0

It’s not a race, nor are there prizes for the winner. But it has been suggested that personal financial planners trading in college, retirement and estate planning are light years ahead of the accounting profession in marketing.

Bruce W Marcus

Bruce W. Marcus

More for CPA Trendlines PRO members:   The Delicate Art of Positioning Your Firm in the Mind of the Prospect  •  Who’s Better at Marketing?    •   Lawyers or CPAs?  • Even a Random Disaster Can Be Controlled with Risk Management  •  Managing Risk in Client Relations   •  Your Clients Love You? What If You’re Wrong?   •    The Three Degrees of RiskFour Essential Habits for Building Client TrustThe Nine Hallmarks of a Marketing CultureThe Four Cornerstones to Building A Marketing CultureGetting the Client is Only Half the BattlePractice Development: It’s Not Rocket ScienceNine Fundamentals for a Healthy Marketing Culture in an Accounting Firm

As veteran consultant Terry Lloyd, a CPA and financial advisor, points out, “Even though the lines continue to blur between the services, there are still differences in the way CPAs and financial planners are perceived.” READ MORE →

CPA Firm Succession Planning: A Perfect Storm

A roadmap for creating and implementing a succession plan.

This monograph provides a roadmap for creating and implementing a succession plan. It guides you through all of the issues, considerations and details related to succession planning for your firm. The goal of the monograph is a call to action for all CPA firms to understand the urgency of succession planning.

Order today for $165