There are 4 keys, but they come down to meeting needs. By Jody Padar The Radical CPA People often ask me: What makes a firm a “New Firm?” There are four fundamental tenets. MORE ON RADICALISM: Why Should CPAs Be Radical? | The Roots of ‘Radical’ CPAs | The First 3 Questions I Should Have Asked Before Starting My Own Practice These four tenets, although adopted differently within each firm, compromise a new set of values that most of the “movement” firms embrace. Ready? Here we go:
The alternative is complacency. We all know where that leads. By Jody Padar The Radical CPA CPAs must be “radicalized” so they cannot be lulled into complacency and driven by reaction to their current firm or livelihood. The changes that are happening in today’s fast-paced world need to be addressed. MORE ON GETTING RADICAL: The Roots of ‘Radical’ CPAs | The First 3 Questions I Should Have Asked Before Starting My Own Practice You and your team have already felt the changes. The silent majority of many employees are hurt, suspicious and feeling unheard. They see and experience the changes happening around them and don’t understand the complacency or the resistance to change from firm management. You may even be […]
The budget demands it. By Donny C. Shimamoto Strategic Technology Decisions Over the next few weeks, CPA Trendlines will present a series of articles based on conversations with Donny C. Shimamoto, CPA.CITP, and a leading advisor to CPA firms, that will look at issues in strategic technology budgeting for 1. personnel, 2. hardware, 3. software, 4. licensing and subscriptions to IT-related services, 5. capital vs. operating vs. project expenditures, and 6. the IT asset lifecycle. We’ll look at ways to use cloud computing to reduce costs and smooth budgets. These articles will offer concrete solutions whenever possible, but often they can do no more than suggest issues that geeks and nerds need to make relevant to their organizations. The solutions […]
Now, what do you do about it? By Hitendra Patil Pransform Inc. There is a shift in how people make their buying decisions and actually how they buy. Accordingly, there is a total transformation how people sell their products and services. And it’s impacting the CPA business… in at least 10 ways:
How the ‘new firm’ was born. By Jody Padar The Radical CPA I started to use this newfangled payroll software that worked through the Internet. Back then they didn’t call it the cloud. It was just payroll software that used an Internet browser. It solved my business problems of preparing paychecks, paying taxes and filing tax returns for my customers. The technology was PayCycle, a cloud-based payroll software. MORE RADICAL CPA: The First 3 Questions I Should Have Asked Before Starting My Own Practice PayCycle (which has since been acquired by Intuit) fundamentally changed my firm and my life. All of a sudden payroll became one of the most profitable areas of our firm. It also became a catalyst to […]
Creating awesome value to become the go-to business strategist. By Hitendra Patil Pransform Inc. As part of my role in calling on CPA firms, I meet with as many as a hundred in a month. But three of them absolutely blew me away. Let me tell you why. They all share one common factor in their thinking, which is creating awesome value for their clients. All of them provide the same standard services to their clients that an accounting and tax firm would. What happens beyond those standard services is what separates them from the rest of the world. And they use a simple trick to create awesome value.
Attitude is a big factor. Change, in business as in life, doesn’t always happen the way we want it. Especially in busy season. It’s at those times when we may need some help. Here, from “change expert” M.J. Ryan, author of “AdaptAbility: How to Survive Change You Didn’t Ask For,” are a few helpful thoughts… 1. Focus on the solution, not the problem. Because society rewards analytic thinking, we believe that identifying the cause of our troubles is the answer: Why is this happening? That’s a starting point, but don’t spend too much time there. What are you going to do about where you are?
And the 3 questions you should be asking yourself today. By Jody Padar The Radical CPA I had just come off a really bad tax season. This was about eight years ago now, and I knew there had to be a better way. I left a mid-sized firm, with seven partners and about 50 other employees and I joined my dad’s firm — literally and figuratively. Figuratively, because many of his technology and processes were “old school.”
News flash – the business model has changed. By Gale Crosley Crosley+Co. When we think of innovation we typically think of a new product or service – something that didn’t exist yesterday that will make tomorrow better. Innovative offerings are essential to the portfolio of any growth-minded CPA firm. MORE from CROSLEY: The Three Elements of Growth Strategy [VIDEO] | Defining the New Business Model [VIDEO] | The New Growth Evolution [VIDEO] | At the Best Firms, Growth is No Accident | Jody Padar’s New Vision for the ‘New Accounting’ | Reality Check: Achieving World-Class Growth Requires Real-World Intelligence | No Shortcuts to Sustainable Growth | Expand Your Vision and Expand Your Business | Leveraging Leadership: A New Way of Looking at Growth | […]
‘Generation Flux’ embraces adaptability, flexibility, openness, decisiveness. By Gretchen Pisano The Radical CPA With a lifelong commitment to continuous learning, CPAs are some of the most willing learners you’ll ever come across. Today’s new generation of CPA embraces adaptability and flexibility, an openness to learning from anywhere, decisiveness tempered by the knowledge that business life today can shift radically.
Five ways the new generation of CPAs is changing the profession. By Gale Crosley The Radical CPA: New Rules for the Future-Ready Firm When CPA Jody Padar joined her father in his practice after eight years in a traditional mid-market firm, she assumed that his clients would become theirs. But Jody’s dad had a different idea. He believed his daughter should learn how to build a client base, not just serve an existing one. The approach may not have been what Jody was expecting, but the experience of seeking out and developing client relationships was formative. In fact, she leveraged it to create New Vision CPA Group in Chicago, which provides complete accounting and tax solutions. Jody and her firm are part […]
CPA Trendlines Strategy Shift Report: Accounting firms around the world reap benefits of easing oil prices, government stimulus and innovation. By Rick Telberg CPA Trendlines Tax and accounting practitioners are heading into a new year and a new busy season markedly more confident and optimistic than they’ve been in years, according to the 10th annual CPA Trendlines Strategy Shift Report. Professionals from Milwaukee to Tucson and Karachi to Kampala are telling CPA Trendlines of brightening business forecasts for their firms in 2015. Top Trends in Emerging Business Strategies Join the survey. Get the results. Fully 71 percent of professionals say they are more than somewhat confident in the business and economic outlook for their firms, with a record 30 percent telling CPA Trendlines they are “highly confident” for the […]
One key: Accept that there are many different ways of achieving the same objective. By Robert J. Lees, August J. Aquila and Derek Klyhn Not every firm can be the market leader. MORE ON LEADERSHIP: Leader Training Is Time Well Spent | Managing Partners Must Remember Partners’ Needs | 5 Questions About Your Firm’s Direction | Like Herding Cats: Partners Must ‘Walk Together’ But every firm can have a culture of excellence, of striving to be the best at everything they do and of reinventing themselves as the markets for both clients and people change.