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STREAMING NETWORK

Coaching the Right Way

Dom Cingoranelli Joins Steven Sacks and Judy Trepeck.

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With Steven Sacks
The NEW Fundamentals: Thriving in Disruption

With an increasing number of accounting firms embracing employee coaching, it’s becoming clear that many just aren’t doing it right, practice management advisor Dom Cingoranelli tells Steven Sacks and Judy Trepeck in an exclusive new CPA Trendlines discussion.

MORE: Nancy Fox: Winning the Mind Game of Success | Gary Cokins: The Truth about Activity-Based Costing | When Cyber-Crime Hits Close to Home | James Lopiccolo: Sell Service, Not Hours | The CPA’s Best Role: Leveraging Knowledge, Not Just Process | Five Common Negotiating Mistakes | Courtesy Still Matters | Bigger Firm, Bigger Thinking | 5 Steps to Better Time Management | SWOT’s the Purpose? | Is Your Firm’s Culture a Magnet or a Repellent?

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“There are more and more firms who are really taking seriously their investment in their people,” says Cingoranelli, Emeritus Founder, Senior Consultant at Succession Institute LLC. “They understand that for the long term they need to develop their intellectual capital. And they realize that it’s not going to happen by itself.”

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STREAMING NETWORK

Nancy Fox: Winning the Mind Game of Success

How to overcome the mind-blocks holding you back from total success.

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With Steven Sacks
The NEW Fundamentals: Thriving in Disruption

Professionals need to use a blend of psychology and strategy to guide them with both mental fitness and tactics to produce career breakthroughs, executive coach Nancy Fox tells Steven Sacks.

MORE STEVEN SACKS: Effective Networking is an Art | Business Development Activities Shouldn’t Be a Chore | CPA’s Best Role: Leveraging Knowledge, Not Just Process | Avoid Last-Minute Deal Making | Five Common Negotiating Mistakes | The Myths of Performance Management | Business Is About Relationships | Reaching for Authenticity in Client Service |

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In business, the mind is 95% of the game, according to Fox, so it’s essential to recognize the causes of mindset blocks that are encountered, such as competition and business development, and what their impact can be.


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KEY TAKEAWAYS:

  • Leaders may not understand the nuances or fundamentals of mentoring and cultivating talent. As such, they find the biggest impediments to be themselves.
  • The conscious mind is where our thoughts are directed in such areas as logic, strategy, memory, learning, data analysis. However, 95% of our thoughts are directed by the subconscious mind, and only 5% by our conscious minds.
  • The subconscious mind is where the inner game of work, career, and life is really won — or lost.
  • There are some strategies you can use to train your mind to prepare yourself to experience an outcome and imagine ways to achieve that outcome.
  • In addition to training your mind to block negative thoughts and experience only positive thoughts, there are physical techniques that can be used.

Nancy Fox is the founder and President of The Business Fox, a business consulting and training company specializing in guiding law, accounting, and service business firms grow through smarter networking and business development and niche marketing strategies.

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FEATURED

How Today’s Staffing Crisis Can Forecast Your Future

Copyright 2021 Rick Telberg. All rights reserved

You can read the tea leaves in who’s getting hired today because they’re the generation that will re-define the tax and accounting firms.

By Steven E. Sacks
The NEW Fundamentals

The accounting profession is at a crossroads: increasing pressure on keeping up with technology to serve more varied and complex clients, while a quick peek at the landscape indicates the ongoing struggle to attract and retain talent.

MORE: 7 Signs Your Accounting Firm Agreement Falls Short | Effective Networking is an Art | Courtesy Still Matters | Bigger Firm, Bigger Thinking | 5 Steps to Better Time Management | SWOT’s the Purpose? | Is Your Firm’s Culture a Magnet or a Repellent? | Click here for more by Steven Sacks
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But what is meant by this, actually?

What will be the type of necessary talent? Will it be a mixture of technical GAAP and GAAS know-how and technology-driven knowledge like artificial intelligence? Or will the necessary technical expertise be superseded by a deep understanding of blockchain technology and data analytics? If that, then how will firms draw the right people to deliver the value-added services that leverage technology?

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CLIENT SERVICE OPPORTUNITIES

Gary Cokins: The Truth about Activity-Based Costing

How to implement progressive management accounting techniques.

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With Steven Sacks
The NEW Fundamentals: Thriving in Disruption

Management finance expert Gary Cokins says there’s nothing wrong with activity-based costing. Except that you’re probably doing it all wrong.

MORE GARY COKINS: The Myths of Performance Management

MORE STEVEN SACKS: Effective Networking is an Art | Business Development Activities Shouldn’t Be a Chore | CPA’s Best Role: Leveraging Knowledge, Not Just Process | Avoid Last-Minute Deal Making | Five Common Negotiating Mistakes | The Myths of Performance Management | Business Is About Relationships | Reaching for Authenticity in Client Service |

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The problem is, Cokins says, it’s convenient for the accountants to allocate the overhead based on allocation factors, like labor hours, number of units produced in a manufacturer, headcount, number of employees, and square feet, even though none of them reflect the unique consumption relationship between how the outputs products and services consumed.

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STREAMING NETWORK

When Cyber-Crime Hits Close to Home

Financial services are a prime target.

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With Steven Sacks
The NEW Fundamentals: Thriving in Disruption

With cyber-crime growing by leaps and bounds, accountants are caught in the cross-hairs, cyber-security professional Jill Cagliostro tells Steven Sacks for CPA Trendlines.

MORE: Effective Networking is an Art | Business Development Activities Shouldn’t Be a Chore | CPA’s Best Role: Leveraging Knowledge, Not Just Process | Avoid Last-Minute Deal Making | Five Common Negotiating Mistakes | The Myths of Performance Management | Business Is About Relationships | Reaching for Authenticity in Client Service |

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Cagliostro, senior product manager with Splunk, a data management and security company, says “cybercriminals are getting more advanced. They’re finding new avenues and new ways to get in every single day.”

“And beyond that,” she says, “they’re also communicating with each other. So they’re able to share these new tactics and techniques amongst each other to become more proficient together.”

Key Takeaways

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