CPA Hiring, Wage and Hour Trends: See this week’s newsletter
By Sandi Smith Leyva, CPA
Most of the time, being an accounting entrepreneur is a delight, an honor and a great way of life. Every once in a while, there can be those days where you just need a little moral support for one reason or another. READ MORE →
And the two methods used by the smartest firms.
By Marc Rosenberg
Author of How to Bring in New Partners
Regardless of whether it is a corporation or a partnership, there is a substantial amount of accrual basis capital in a CPA firm. All the partners “own” some portion of that capital.
There are at least three methods for determining how much capital each individual partner “owns.” One of them should be avoided like the plague. READ MORE →
How to help them take initiative and allow you to be proactive.
By Hitendra Patil
Neuroscience studies have shown that fear is a far bigger driver than we would ever care to admit. According to Kevin Hogan, author of The Science of Influence: How to Get Anyone to Say “Yes” in 8 Minutes or Less!, “most people react to the fear of loss and the threat of pain in a much more profound way than they do for gain. They overemphasize the importance of pain by about 2.5:1 in decision making.”
Your customers and prospects fear that their actions or inactions will cause bad things to happen, or bad things can suddenly happen to them. It’s therefore important to ask yourself what sort of problems your potential clients are facing during current times. If you can identify their true fears and show them how you can remove the possibility of loss, you are one step ahead of your competitors. READ MORE →
See this week’s complete newsletter here.
If you’re like most of the tax practitioners we’ve been hearing from, you’re already gearing up for Busy Season 2014. Maybe you’re even banking on one of the four big strategies for success our research has uncovered.
Meanwhile, the battle rages over pricing and value. I can’t think of a more important topic, nor one that inspires so much passion in the profession.
PS: The Busy Season Survey will remain open through April 2014.
Join here and get the real-time updates.
By Jean Caragher
Lack of time is an often-used excuse for failing to plan. However, I believe that we make time for the things that we really want to do. Almost anyone can get a start on a networking plan by answering the following questions: READ MORE →
How to become and remain competitive in the marketplace.
By Robert J. Lees and August J. Aquila
Creating the Effective Partnership
The challenge in designing the right system for the firm’s context is ensuring it motivates the partners to deliver the initiatives the firm needs to be successful.
If compensation is supposed to motivate and reward productive behavior and outcomes, and discourage non-productive behavior and outcomes, then you must ask yourself, “How well are we doing?”
We don’t claim that our recommended system is perfect since we know that the perfect compensation system does not exist. We do feel, though, that it encompasses the critical elements needed for leaders to better engage and reward partners.
We believe that if a firm wants to maximize its performance and keep its partners motivated and engaged, then it needs to design a compensation plan, which includes the following elements: READ MORE →
By Ed Mendlowitz
“Tax Season Opportunity Guide“
QUESTION: I do not belong to the NJSCPA and see no value in it. What are the benefits if I am a sole practitioner and just starting out?
RESPONSE: I belong to the AICPA, NJSCPA and NYSSCPA, feel strongly about supporting
these societies and believe it is a responsibility of professionals to do so.
I am also active in these three organizations, in different ways and not always at the same time, although I have never been on the board of any of them.
by Bruce W. Marcus
Professional Services Marketing 3.0
At a VeraSage conference not too long ago Ron Baker addressed the question of why so few Top 100 firms have switched to value billing. But the answer is not difficult to discern. “There are decades of culture,” he says, “around the culture of time sheets.”
They are literally at the center of all financial reporting in the firm, and there is too much investment in time sheets and related financial systems for senior management to move in different directions. “It’s human nature to remain on the shores of the familiar,” he says. As for the future, he is optimistic, as am I. READ MORE →