12 Traits of a Better You

Man facing mirror that has bursting out of it a hand holding a red question markPlus a 12-step annual goal-setting process.

By Rob Nixon

I've said that you should design your business by your rules and the way you want it to be. You’re taking all the risk so you should have all the spoils.

MORE ON STRATEGY: How to Calculate a Value Price | Why Old Pricing Models Are Unethical | 8 Ways to Improve Firm Profits | 17 Killer Questions for Prospects | Growing Your Client Database | Niche Markets Are Your Best Buyers | Is Your Business By Design or Default?

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Many partners of accounting firms get the concept and they agree with the theory. What I find is that they often lack the personal development to pull it off.
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How to Calculate a Value Price

Price and value balanced on scale above a tablet computer3 areas of focus.

By Rob Nixon

The problem with pricing by the hour is that the assumption is that the price per hour is correct (often calculated by a salary multiple) and the time to do the task was correct. The assumption is that time multiplied by the rate equals the correct price.

MORE ON STRATEGY: Why Old Pricing Models Are Unethical | 8 Ways to Become Super-Efficient | Sales Is Like Workflow Management | Sales Is about Trust | How to Dominate the Internet | Marketing Objectives Determine Marketing Amount | What Products Should You Create? | Keep a Watchful Eye on Clients | Rewards Go Far Beyond Money | People Still Needed, But In Different Ways
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In my view, nothing could be further from the truth.
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Why Old Pricing Models Are Unethical

Listen to the marketplace.

By Rob Nixon

I am using the ethics card right up front to get your attention.

MORE ON STRATEGY: 8 Ways to Become Super-Efficient | Boost Efficiency and Your Bottom Line | 4 Sales Systems and Some Secret Sauce | Marketing Must Generate Leads | Be an 'Object of Interest' | Marketing Must Be About Sales | Turn Your Knowledge Into Products | Why Clients Really Stay | 8 Ways to Build Team Engagement | How to Create 4 New Billable Hours per Day | Do You Know What Clients Want? | Is Your Business By Design or Default? | The World Is Flat | The Profession Disrupted: Compliance Commoditized
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I personally feel that pricing by the hour in arrears is an unethical way to price. Here’s why:
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8 Ways to Become Super-Efficient

How many open jobs do you have right now? Why?

By Rob Nixon

How do you get efficient and take time out of every single client job?

MORE ON STRATEGY: Boost Efficiency and Your Bottom Line | 8 Ways to Improve Firm Profits | 17 Killer Questions for Prospects | Growing Your Client Database | Niche Markets Are Your Best Buyers | 8 Questions for Product Creation | How to Deliver Wow! Every Day | Communicate Until It Hurts | Why a Virtual Team Makes Sense | 14 Ways to Leverage Client Data for New Billings | What It Means to Be a Real-Time Accountant | 12 Predictions on the Future of Accounting | Will the Internet Replace CPAs?
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After many years helping accounting firms to be more efficient, I have observed that there are eight key ways to get super-efficient with any accounting or advisory project. The premise on this list is that you have a good team of people so I am not covering that here.
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Boost Efficiency and Your Bottom Line

Hand watering small plant in pot shaped like upward arrowValue pricing lets you be super-efficient and still make money.

By Rob Nixon
Panalitix

When a partner of an accounting firm says to a colleague or team member:

"I want more billable hours out of you" or

"I need you to get more time on the clock" or

"Your utilization/productivity is low – fix it"

...what are they saying?

MORE ON STRATEGY: 8 Ways to Improve Firm Profits | Sales Is Like Workflow Management | Sales Is about Trust | How to Dominate the Internet
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They are basically saying that the individual is not performing, when in actual fact they may be. The individual you are "performance managing" may actually be super-efficient, however, the traditional business model says that he or she is not.
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8 Ways to Improve Firm Profits

Because businesses make money, right?

By Rob Nixon
Panalitix

The purpose of any business is to find and keep customers. So you have a marketing and sales function to find them and then you have great service and services that "wows" them into staying with you.

MORE ON STRATEGY: Sales Is Like Workflow Management | 4 Sales Systems and Some Secret Sauce | Marketing Must Generate Leads | Be an 'Object of Interest' | Marketing Must Be About Sales | Turn Your Knowledge Into Products | 8 Ways to Build Team Engagement | Is Your Business By Design or Default? | The Profession Disrupted: Compliance Commoditized
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

That’s all well and good for your clients. What about you? You’ve taken a risk to start/buy your business (it’s not a practice and you need to stop practicing – you’ve been practicing long enough) and you need to be rewarded.
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Sales Is Like Workflow Management

Four colored arrows in an arc with shadows underneathThe 4 core steps to take.

By Rob Nixon
Panalitix

Most accountants have a workflow system of sorts. You get the information in, you check the information, you manipulate the information, you query it, and you then bind it up and lodge or file it.

MORE ON STRATEGY: 4 Sales Systems and Some Secret Sauce | 17 Killer Questions for Prospects | Growing Your Client Database | Niche Markets Are Your Best Buyers | 8 Questions for Product Creation | How to Deliver Wow! Every Day | Communicate Until It Hurts | Why a Virtual Team Makes Sense
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

It’s a process (simplified, I know) that is like a manufacturing line. The raw materials come in and after a series of steps and people touching the item, a finished product is created and shipped to the customer.
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