By Sandi Smith Leyva With so much to do as business owners, we can get pretty overwhelmed at times. We can start believing that we have a “time” problem, but since all of us have 24/7, there really is no such thing as a time problem.
By Hitendra Patil Pransform You can call it a “Stop Doing These” list. If you have done the “ABC Analysis” of your clients, you know the best customers who yield highest net profit per unit of effort (generally your time) are your A clients and those who yield the least are your C clients.
By Ed Mendlowitz 101 Questions and Answers QUESTION: I assigned four projects to a manager who reassigned them to a Staff 2 person and I gave a date when they were needed that was three weeks away. When I asked about the progress after two weeks, I was told that nothing was near completion. Now there is a super rush with much stress. How could this situation have been avoided? RESPONSE: First off – you are to blame. You did not work with the manager to see how she would assign the work and to whom.
Nine reasonable entitlements and 15 misconceptions, bad ideas and outright abuses. It’s a privilege to be a partner in a CPA firm. Not an entitlement. Too many partnerships seem to operate as if they had it the other way around. And, in most cases, those partnerships don’t usually make the best CPA firms. Marc Rosenberg has seen his share of dysfunctional firms. They are no better nor no worse than the people who run them. Get these 24 points of partner roles and responsibilities correct and your firm could find a renewal in spirit and in growth.
By Ed Mendlowitz 101 Questions and Answers QUESTION: How can I get buy-in in the implementation of new things we decide to do? RESPONSE: I find buy-in the key to a successful program. It is also extremely hard to get. It is easy in the board room or at the meeting when the new process or procedure is agreed to, but then there has to be a champion to be responsible for the follow-through and success.
Checklists work for astronauts. Why not accountants? By Sandi Smith Leyva Accountant’s Accelerator Airplane pilots and astronauts have checklists for just about everything they do. Checklists promote performance consistency, make it easier to learn new procedures and increase safety exponentially. In accounting, we can learn from the airline industry and apply checklists to certain areas of our practices in order to reap similar benefits. Here are three areas of your accounting practice that can benefit from checklists:
Dealing with dysfunctional partners: The six-step process. By August Aquila Creating the Effective Partnership As much as you would like to, you cannot ignore them; nor can you accept them as they are. Doing that would be unfaithful to your core principles and ultimately cause more harm to the firm than any one of them is worth. That leaves us with three options: rehabilitate them, fire them or place them outside of the firm. But first, be sure it’s not you.
Four quick fixes and a magic bullet. By August Aquila The fact of the situation is that too much time is wasted in meetings that don’t accomplish anything. We meet, we talk and we leave. No one takes minutes, there is no follow-up and we are all glad that another meeting is over. Don’t get me wrong; I am not a meeting basher. A meeting can be an effective way to make sure you are on course to achieve firm and departmental objectives and use your “bully pulpit power” as the managing partner.
Six guesses. Only one right answer. By Marc Rosenberg The Rosenberg Survey Of the 45,000 CPA firms in the U.S., an elite group of these firms, referred to as The Top 100 (in terms of annual revenues), is publicized by several media groups. What do they have in common? What are they doing right?