QUESTION: I am sure you heard this before, but I just can’t seem to get on top of my work – I […]
By Sandi Smith Leyva
The Accountant’s Accelerator
The big change in lead generation for accountants is that there are many more methods out there today to get clients’ attention. The problem — or the opportunity! – is most accountants are still only using the old methods. READ MORE →
By Marc Rosenberg, CPA
CPA Firm Mergers
The 16-step plan to focus on landing one new client at a time.
By Bruce W. Marcus
Professional Services Marketing 3.0
Here’s a little secret about accounting marketing: It always comes down to selling the individual clients – one by one.
More Professional Services Marketing 3.0: What We’ve Learned Since Accounting Marketing Was Legalized • Do Accounting Firms Really Want an ‘Image’? • What Accounting Firms Need to Learn from Personal Financial Planning Specialists • The Delicate Art of Positioning Your Firm in the Mind of the Prospect • Even a Random Disaster Can Be Controlled with Risk Management •
You can talk about strategies, and image, and niche marketing and branding. You can talk about blogs, and social media, and press releases and webinars. But it always comes down to selling the individual clients – one by one.
Well… if you’re going to have to do that anyway, why not start with target marketing to begin with? READ MORE →
Evolving from running a practice to leading a business.
By Sandi Smith Leyva
The Accountant’s Accelerator
Technology has allowed just about everyone to start their own businesses. We can do something part time, full time or in between. We can start and stop our businesses. We can be successful at lots of different business models. And we can go through stages of our business.
If you want to grow exponentially, or even linearly, you’ll need to progress. And before you can do that, it makes sense to figure out where you are now. Here are five stages of business so you can see where you are now and where you want to go. READ MORE →
The ultimate success of a merger is directly proportional to the effort made by both firms.
According to Marc Rosenberg, of CPA Firm Mergers, each firm must ask lots of questions, agree on as many merger implementation issues as possible before the merger takes place and openly share as much of their “dirty laundry” as possible. ”Don’t assume anything,” Rosenberg says.
In merger talks between well-matched firms of similar size, the best deals seem to start with the right agenda at the first meeting. It’s a seemingly simple seven-item agenda. But the discussions are rarely simple. Nor should they be.
Agenda for the First Meeting: READ MORE →
Survey: 78% of firms scan at the front end – and it’s not just an admin job.
By Roman H. Kepczyk
Quantum of Paperless
One of the keys to optimizing accounting firm production processes is capturing information at its “root” source – the moment data enters your firm, regardless of the format – mail, fax, email or on a flash drive.
Ideally, documents would be delivered already in a digital format such as email attachments or preferably through a portal, but the reality today is that a significant portion of accounting firm source documents arrive from clients in a physical paper format. Your firm will need to develop processes to efficiently scan, name and store these documents.
The best firms start with the right scanners. Scanners come in three flavors, capturing data at three levels: production, workgroup and individual.
The compensation trap that turns winners into losers.
By August Aquila
Creating the Effective Partnership
The focus on most CPA firms is on billable hours. While there is nothing inherently wrong with this focus, it has become the overriding focus of firms.
There is nothing wrong with making money today, but what about building for the future? With “today” being the dominant focus, what is the encouragement to CPAs to innovate? In most firms there is no alignment with innovation and compensation.
You will never have innovation unless you allocate some time and reward to making it happen. READ MORE →
QUESTION: I am the managing partner of my accounting firm by default. No one else wanted to do it. I am trying to manage things but I have a full schedule, am shorthanded on staff and continue to do a reasonable amount of marketing. I am overwhelmed. How do others do it?
RESPONSE: I purposely left off the size of the firm because my response applies to every size firm – those with two partners on up to large firms with upward of 50 partners. No matter the size of your practice, it is a business and needs someone dedicated to running it. Smaller firms need less time, possibly less skills and perhaps one of the partners can fill in this role. Larger firms need a person who spends substantially all of their time running the business, but not necessarily a partner. READ MORE →
To develop and nurture talent: It’s more than just lunch.
Unfortunately, even the best-intentioned mentoring initiatives can easily fizzle in the early stages, before delivering value to the participants and the organization at large, according to Molly Sargent of Rowayton, Conn.-based Professional Impressions Consulting.
Sargent has trained and coached thousands of financial professionals and client-facing executives in professional image, presentation skills, business etiquette and sales effectiveness. Since 1985, she has helped major accounting firms and Fortune 500 companies, including Aetna, American Express, AT&T, Citibank, Goldman Sachs, JPMorgan, Key Bank, MasterCard, PricewaterhouseCoopers and Prudential achieve breakthrough results.