Here’s what you’re looking for: Gary Bolinger

ADVISORY & CONSULTING

You Can’t Separate the Business from the Client

Don’t fight it, work within it.

By Gary Bolinger

So, you have a client who owns a small business (use whatever definition you want for small business). There may be two or three owners of this business. The client(s) spend a lot of time working in or on the business. Most small business owners spend more time working in the business rather than on the business.

MORE: Tell Managers What Ownership Means | Clients: What Accountants Don’t Understand | Why Accountants Fail at Consulting | Advisory vs. Low-Value Clients | What + Who Leads Firms to Better Service | How Accountants Are Profiting in Disruption | Ask the Right Question(s) | Seven Elements of Engagement for CPAs | True Advisory Work Isn’t Just Consulting
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With a structured approach to advisory services, you can get the client(s) to spend a little more time working on the business to enhance the possibilities for growth, improved profitability and long -term success. So, your firm needs to develop that structured, repeatable approach for advisory services.
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FEATURED

Tell Managers What Ownership Means

Younger businesswoman and older businessman smiling and talking in office hallwayDon’t assume they see the benefits.

By Gary Bolinger

Not long ago, I was in a firm meeting with several partners and senior managers. The plan for the meeting was for me to provide an update on current and emerging issues facing the profession and firms. The issue of succession planning came up (as it frequently does). I had been scanning the room to attempt to determine who was really tuned in and who was just warming the chair they were sitting in.

MORE: Clients: What Accountants Don’t Understand | Why Accountants Fail at Consulting | Advisory vs. Low-Value Clients | What + Who Leads Firms to Better Service | How Accountants Are Profiting in Disruption | Ask the Right Question(s) | Seven Elements of Engagement for CPAs | True Advisory Work Isn’t Just Consulting
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A senior manager had caught my attention because he seemed intent on learning and understanding what was shaping his chosen profession. So, I took the opportunity to bluntly ask if he was interested in being an owner in the firm. I got a raised eyebrow from some of the partners. They obviously thought I was asking a question with a rather obvious answer. But …
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CLIENT SERVICE OPPORTUNITIES

Clients: What Accountants Don’t Understand

Knowing them is just the start.

By Gary Bolinger

You know a lot about your business clients. As a  result of the compliance work you do – tax and financial reporting projects – you do know a lot about your clients. You know about profit and loss. You know about payroll. Certainly, you have some knowledge about vendors and customers, at least from a financial perspective. You have seen marketing budgets, cost of sales and know what occupancy costs are. All of that is good.

MORE: Why Accountants Fail at Consulting | Advisory vs. Low-Value Clients | What + Who Leads Firms to Better Service | How Accountants Are Profiting in Disruption | Ask the Right Question(s) | Seven Elements of Engagement for CPAs | True Advisory Work Isn’t Just Consulting
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But do you understand your clients? Do you understand your clients in ways that can give you the kind of insight that is needed to indeed be a most trusted advisor? In fact, to be the most valued advisor?
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CLIENT SERVICE OPPORTUNITIES

Why Accountants Fail at Consulting

Couple meeting with investment advisor.The move requires commitment and resources.

By Gary Bolinger

Most all CPAs in public practice talk about transitioning away from traditional compliance services to offer more advisory services.

MORE: Advisory vs. Low-Value Clients | What + Who Leads Firms to Better Service | How Accountants Are Profiting in Disruption | Ask the Right Question(s) | Seven Elements of Engagement for CPAs | True Advisory Work Isn’t Just Consulting
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When I have talked to firms in the past few years and I ask about percent of total firm revenues in A&A, tax and advisory, the percentage for A&A and tax constitutes a significant majority of total fees. But advisory alone is usually 10 percent or less.

Even then, those advisory consulting fees are generally closely tied to some aspect of compliance. So, I’m not sure that I would really say that’s advisory. So, with all the talk – for maybe the last 20 years – about the need to grow advisory revenues, why are the revenues so low in relation to compliance services?
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FEATURED

The 5 Key Skills of Innovation

Businessman switching on "innovation" slider buttonYour firm needs them now more than ever.

By Gary Bolinger

Peter Drucker once said, “Every organization, not just businesses, needs one core competency: innovation.”

One core competency. That is powerful. In today’s pandemic environment and, as we prepare for the post-pandemic environment, it is more important than ever in businesses of all kinds, including CPA firms. CPA firms need to prepare to assist clients for the world ahead. There won’t be a return to “normal” as we remember it for some time. And that means CPA firms must innovate in client service to add value in this new environment.

MORE: Advisory vs. Low-Value Clients | What + Who Leads Firms to Better Service | How Accountants Are Profiting in Disruption | Ask the Right Question(s) | Seven Elements of Engagement for CPAs | True Advisory Work Isn’t Just Consulting
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Innovation sounds big. Innovation sounds big because we tend to think about historic innovations, and they were big. You know … the wheel, the printing press, railroads, mass production, airplanes, the electric light bulb, television, the internet and cellular phones.
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