Ira Rosenbloom, Author at CPA Trendlines

How COVID Changes Succession Planning

Larger firms want to drive scale; smaller firms want more distribution and leverage.

By Ira Rosenbloom

Even as the pandemic rips through the world with horrific tragedy, it is also spawning some new ideas, some critical imperatives, and some unforeseen opportunities, especially in the area of CPA firm succession.

MORE: Top 10 Steps to Maximizing Profitability
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We are witnessing a heightened interest in firms committing sincerely to mergers and other practice combinations, and there is now a shifting business culture that aligns better with internal practice succession than we have seen in a long while.

These shifts in succession potential are largely a function of technology, quality of life, client needs (and demands), and resources.

Let’s break it down:

CHECKLIST

Top 10 Steps to Maximizing Profitability

How to manage your most important metrics.

By Ira S. Rosenbloom

Given the significant responsibilities that accountants in public practice carry, it is only right that they should be rewarded with strong earnings and maximum profitability.

MORE: Seven Smart Ways to Make This Your Best Tax Season Ever | Eight Steps for Re-engineering the Role of Managing Partner | New Rules: Covid Shifts M&A Landscape | Assessing Your Firm | Spend Your Time on the Most Profitable Tasks | Seven Performance Boosters for Your Firm | Gary Cokins: The Truth about Activity-Based Costing | How to Decide on Your Firm’s CAS Pricing | What Really Makes CPA Firms Profitable? |

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However, maximizing profitability is not as simple as raising billing rates and controlling costs. It is a disciplined process that will influence your culture and become part of your everyday routine.

Optimize your profit potential with these 10 steps.

CHECKLIST

New Rules: Covid Shifts M&A Landscape

Checklists: Top 10 Tips for Buyers and Sellers.

By Ira Rosenbloom

Many CPA firms go into merger conversations thinking that, because they have done deals before, they can do what they’ve done in the past. But in this Covid-impacted economy, the tolerance for risk is low—and changing day-to-day.

MORE IRA ROSENBLOOM: Seven Smart Ways to Make This Your Best Tax Season Ever | Eight Steps for Re-engineering the Role of Managing Partner | Ten Steps to a Better Tax Season | Feeling the Urge to Merge? First, Consider the Angles

Coronavirus crisis updates: Start here for a guide to all our coverage.

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We’re seeing every day how much the pandemic can impair and alter both daily life and business fundamentals, so the more efficient you can be in getting ready for a merger, the better. These days, you need to move fast or risk losing out.

Here are some recommendations crucial for getting both buyers and sellers properly prepared for their next step in M&A negotiation.

BUSY SEASON MANAGEMENT

Seven Smart Ways to Make This Your Best Tax Season Ever

How to make tax season work for you and not just your clients.

By Ira S. Rosenbloom, CPA

Tax season is a fantastic business cycle for accounting firms but too few leverage all of their hours to capitalize on its value. The time has come to maximize the value of tax season and make this your best tax season yet.

Here are seven vital agenda items to achieve the kind of success you deserve: READ MORE →

LEADERSHIP

Eight Steps for Re-engineering the Role of Managing Partner

Orchestrating change is a firm-wide responsibility.

By Ira S. Rosenbloom

Succession planning and the stress that comes along with it are quite the rage in the world of public accounting. When it comes to recruiting a firm’s next managing partner, the challenge may be enormous.

BUSY SEASON MANAGEMENT

Ten Steps to a Better Tax Season

Tools for balancing work and life in the most special time of year.

By Ira Rosenbloom

Three nights a week and Saturdays. For many accountants, this describes the extra effort that is made to properly service clients during tax season. The quality of life for accountants and their families typically takes a turn for the worse during this special time of year. Most will tolerate the change because it brings cash flow and profits.

But are accountants truly making the most of this extra effort? What if it were possible not only to improve tax season but also to enhance profitability and improve quality of life, as well? Here are ten steps that will give you a better shot at achieving those goals. READ MORE →

GROWTH STRATEGIES

Feeling the Urge to Merge? First, Consider the Angles

Partner retreats may be gearing up for new mergers, acquisitions, and competitive strategies. But which side of the deal do you want to be on? READ MORE →

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Ira Rosenbloom

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Ira S. Rosenbloom, CPA (LR), is the chief operating executive (COE) of Optimum Strategies, LLC, a niche CPA practice succession and management engineering firm that specializes in mergers and acquisitions (M&A), succession plans, and other transition measures that focus on M&A-readiness, realistic valuation and market expectations, deal structuring, and integration processes designed to maximize client and staff retention.

A well-known and respected leader in the accounting community across the mid-Atlantic region, Ira is known for his ability to motivate internally and externally for strong bottom-line results.

Before founding Optimum Strategies in 2010, Ira served as managing partner of a mid-sized regional firm, practice director for a national firm, and as a regional partner in a national CPA M&A advisory firm, among other positions.

He has served in important professional leadership positions as a member of the AICPA Management of Accounting Practice Committee and the Board of Trustees of the New Jersey Society of CPAs (NJSCPA).

In demand as a speaker and author, Ira regularly contributes to industry and general business associations, publications, and websites, including MACPA, PICPA, VSCPA, Accounting Today, and Philadelphia Business Journal.

Ira graduated cum laude from New York University with a Bachelor of Science degree in Economics and received his Master of Science degree in Accounting with honors from Northeastern University.

Email: ira@optimumstrategies.com | Phone: 215-694-8084 | Connect: LinkedIn

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