Monthly Archives: December 2012

Seven Ways to Increase Fees

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The techniques for telling clients you’re raising your rates.

by Ed Mendlowitz
Author of “Implementing Fee Increases“

Any time is a good time is a good time to review your fees and consider increasing them.  But the beginning of the year or a new season is especially good.

Keep in mind that whatever the method you choose, you are making a business decision that should be handled with care and finesse and can affect the relationship with the client that you have been cultivating.

Also, losing the client is always a threat, so you must be prepared for this. Further, not raising the fee also presents a threat to your long term success and business viability, and this must also be considered.

Here are seven methods of increasing fees: READ MORE →

The Problem with Timesheets? Not Enough Timesheets!

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Time tracking and the V.B.T. (Value Billing Taliban)

by Frank Stitely, CPA
Stitely and Karstetter 

I have long been a true believer in value billing.  Five times a day I kneel towards the east and pray, “I am not selling time.  I am selling expertise.”  However, I just can’t follow with the end of the prayer which goes, “Time trackers are evil.  We must stone them.”   Time tracking is essential to value billing, done profitably.

More unconventional wisdom from Frank Stitely, CPA: Who’s Missing in Action From Your Workflow Processing System?  | How to Make an Extra $72,000 by Working Smarter

Let’s invite some people to leave our discussion.  If you are a coach, consultant, or some other type of CPA advisor, who has never owned an equity position in a CPA firm, please exit stage left.  Yes, I know you have decades of experience observing CPA firms.  I have decades of experience watching professional football.  That doesn’t qualify me to coach the Redskins.  Veteran poker players know that playing someone else’s hand is easier than playing your own when big money is on the table.  If you’re a CPA firm employee, please stay.  Some day you’ll need this information.  But sit there silently until we are done.

There are three reasons time tracking is important: READ MORE →

Seven Ways to Build the Right Culture

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And five ways how NOT to implement a system of partner accountability.

August J. Aquila

August Aquila, a veteran practice management consultant, works globally with accounting firms on leadership and management issues. If you’re thinking about the quality of leadership at your firm, think on this.

Five WRONG ways to make partners more accountable:

  1. Let’s make it into a checklist. One thing you can count on – accountants love checklists. It seems that a checklist is the answer to all our problems. READ MORE →