Why Choose You?

Businessman cutting back jobs. All on white background.You may be unique, but then what?

By Ty Hendrickson

Why should someone choose to do business with you over someone else? Have you ever sat down and truly thought through the answer to this question?

MORE: The ABCs of Exceptional CPA Leaders | Three W’s for Networking the Right Way | The CPA Firm Partner’s Role Is Changing | The No. 1 Reason Accountants Fail To Build Advisory Practices | 4 Reasons to Welcome Rejection
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Whether you own your own accounting practice or are a part of a larger firm, this is probably the most important question you will ever need to know the answer to if you want to be successful.
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The ABCs of Exceptional CPA Leaders

Businesswoman sitting in front of business meetingWorried about retention? Look within.

By Ty Hendrickson

Have you ever heard the quote, “People don’t leave bad jobs, they leave bad bosses?” This quote was proven in Gallup’s comprehensive survey which found that 50 percent of Americans have left a job to “get away from their manager at some point in their career.”

MORE: Three W’s for Networking the Right Way | The One Big Reason Your Hiring Sucks | Are You Botching Your First Impression? | The REAL Problems Created in a Remote Workforce
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Today, retaining top employees ranks as one of the top three issues CPA firms have. No one wants to be known as a “bad” boss, but what are some things you can do to help you become a leader in your firm?

Here is a quick ABC strategy.
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Three W’s for Networking the Right Way

People standing, holding food and talkingWho, what and where: The keys to smarter networking.

By Ty Hendrickson

Do you ever feel frustrated that you put yourself out there in networking situations, but you just don’t see the results you want?

MORE: The One Big Reason Your Hiring Sucks | 5 Crucial Areas of Firm Culture Not to Ignore | Maybe the Pandemic Isn’t All Bad | Can You Really Grow Without Adding Clients?
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So, what’s the secret to being efficient with business development and not getting burnt out on all of these after-hours networking events?

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The One Big Reason Your Hiring Sucks

Three partners, one male and two female, walking and smiling outside a buildingAnd three ways to fix it

By Ty Hendrickson

It’s said in the profession that employees must earn their place by proving their loyalty to the firm through years of experience.

MORE: 5 Crucial Areas of Firm Culture Not to Ignore | The CPA Firm Partner’s Role Is Changing | Are You Botching Your First Impression? | Maybe the Pandemic Isn’t All Bad | The No. 1 Reason Accountants Fail To Build Advisory Practices | The REAL Problems Created in a Remote Workforce | 4 Reasons to Welcome Rejection
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That might be one of the biggest lies in our industry right now and the No. 1 reason firms are facing recruiting and retention problems.

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5 Crucial Areas of Firm Culture Not to Ignore

Two businesswomen shaking handsTop talent is looking for true support.

By Ty Hendrickson

Firm culture. I recently saw an interesting post about culture on LinkedIn that got me thinking about this topic. Culture has become almost a buzzword in the accounting industry because firms are facing an incredibly competitive talent market combined with high expectations and long hours that come with this career choice. Firms are making a big deal out of building a culture that is a fun and balanced working environment in hopes of attracting and retaining the best talent, but unfortunately, the majority of firms are missing the mark.

MORE: The CPA Firm Partner’s Role Is Changing | Are You Botching Your First Impression? | Maybe the Pandemic Isn’t All Bad | The No. 1 Reason Accountants Fail To Build Advisory Practices | The REAL Problems Created in a Remote Workforce | Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection
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Let me let you in on a little secret, which was the exact point of the LinkedIn post I mentioned. The most attractive cultures are not the firms that have team events and mixers and other “fun events.” Fun is not what the top talent is looking for in a firm culture. In all reality, a fun culture with events is going to attract the opposite of the top talent you desire as a firm.
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The CPA Firm Partner’s Role Is Changing

… like it or not.

By Ty Hendrickson

The role of a partner in an accounting firm is changing. Actually, the role of a partner in an accounting firm has changed and now too many firms and individuals are playing catchup.

MORE: Are You Botching Your First Impression? | Maybe the Pandemic Isn’t All Bad | The No. 1 Reason Accountants Fail To Build Advisory Practices | The REAL Problems Created in a Remote Workforce | Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection
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Accounting firms as a whole have changed significantly over the past 10 to 15 years with the influx of new technology that modernizes the work being done within the firm. Compliance work is now being done much more quickly and efficiently because of ever-improving software that automates many accounting tasks.

More of the day-to-day work is being done by software, which has caused the following to happen:

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Are You Botching Your First Impression?

Three steps to the perfect elevator pitch.

By Ty Hendrickson

Eight seconds. That’s all the time that you have to catch someone’s attention and draw them in before they become disinterested in you and your conversation.

MORE: Maybe the Pandemic Isn’t All Bad | The No. 1 Reason Accountants Fail To Build Advisory Practices | The REAL Problems Created in a Remote Workforce | Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection
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The human attention span has dropped recently from 12 seconds down to a whopping eight whole seconds. Sadly, a goldfish now has a longer attention span than humans at nine seconds. For accountants who are working furiously to grow a practice through networking, this presents several challenges.
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Maybe the Pandemic Isn’t All Bad

Dog sleeping in home office as woman works at computer in background4 hidden blessings.

By Ty Hendrickson

I have never felt the power of the old saying, “The only constant is change,” more than this year. As we navigate the second half of 2020, I find myself reflecting on how much has changed in the course of just a few short months. 

MORE: The No. 1 Reason Accountants Fail To Build Advisory Practices | The REAL Problems Created in a Remote Workforce | Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection
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I don’t want to talk about COVID-19 or the new normal or unprecedented times or any of the other hot terms we’ve all heard about 100 times daily. Everything that 2020 has hit us with has been incredibly heavy, insanely bizarre (can we please never hear about murder hornets again?) and for someone like me who already functions with a high level of anxiety, it is has been very stress-inducing.

2020 has been a wild ride both personally and professionally, and I’m ready for a fresh start.
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The No. 1 Reason Accountants Fail To Build Advisory Practices

Shift your mindset for COVID-era client services. Stop thinking about selling and start thinking about helping.

By Ty Hendrickson

What is the number one reason that accountants get stuck providing transactional services?

Mindset.

Now, I’m not one of those gurus that preaches mindset and how if you want something in your life, all you have to do is visualize it. That’s not the mindset I’m talking about here. I’m talking about the mentality that accountants “feel bad” for charging someone for their expertise and advice.

MORE: The REAL Problems Created in a Remote Workforce |  Can You Really Grow Without Adding Clients? | 4 Reasons to Welcome Rejection |

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While this is not a new problem, it has bubbled to the surface amidst the Covid-19 crisis. In the vast majority of my conversations with firm owners recently, I hear the same line over and over again, “I’ve spent so much time talking to my clients about loans and explaining their options that I’ve hardly gotten any tax work completed. Now, I have to charge them $1,000 for those conversations, and I just don’t feel like I can do that because I know the financial situation they are in right now. I feel bad.”

What?!?!

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