Finger pressing delete keyRepeat as necessary: You don’t have to keep everything.

By Roman H. Kepczyk
Quantum of Paperless: Technology Guide & Checklist

Managing digital files is in many ways similar to managing paper files in that the firm must have standards for who can create a document, add to or edit a document, file it, and eventually purge the file. Unfortunately, as digital files are on the network and “out of sight,” many firms are not really aware of what files are stored, the most current versions and whether or not they should be deleted.

MORE: The 4 Buckets of Firm Knowledge | Why Digital Communications Matter | The Right Tech Tools for COVID Work-from-Home | It’s 10 p.m. Do You Know Where Your Backups Are?
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As firms transition to the “less paper” environment, it is recommended that they implement a digital document retention policy and make users accountable for adhering to this policy.
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Retaining Documents: How Long and Who Decides?

Finger pressing delete keyRepeat as necessary: You don’t have to keep everything.

By Roman H. Kepczyk
Quantum of Paperless: Technology Guide & Checklist

Managing digital files is in many ways similar to managing paper files in that the firm must have standards for who can create a document, add to or edit a document, file it, and eventually purge the file. Unfortunately, as digital files are on the network and “out of sight,” many firms are not really aware of what files are stored, the most current versions and whether or not they should be deleted.

MORE: The 4 Buckets of Firm Knowledge | Why Digital Communications Matter | The Right Tech Tools for COVID Work-from-Home | It’s 10 p.m. Do You Know Where Your Backups Are?
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As firms transition to the “less paper” environment, it is recommended that they implement a digital document retention policy and make users accountable for adhering to this policy.
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The Power of Stress Testing

The four steps to take.

By Anthony Glomski and Russ Alan Prince
Your $5-Million High-Net-Worth Practice

The Everyone Wins Process is at the center of how you can maximize wealthy client relationships. Most often, this is a function of aligning interests. The process is also core to generating new business from these clients and other professionals. The ability to add value often plays a significant role in being referred by other professionals to their best clients.

MORE: Product-Neutral or Product-Inclusive? | The Family Office Model | Guiding Clients through COVID | Help Your Referral Sources Become Thought Leaders | The New Way to Get the Best Clients | Maximize Referrals from Wealthy Clients | What the Wealthy Want | The Four-Step Process for Client-Focused Business Development | Building a High-Net-Worth Practice During COVID-19 | The Essential Process for Building a High-Net-Worth Practice | What the Wealthy Need | Setting Financial and Practice Goals
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At the same time, there are many different ways to frame your conversations based on the self-interests of the wealthy to optimize their financial worlds and accelerate results. Stress testing is one of those ways.
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Does Your Staff Know All the Services You Provide?

They can help clients AND increase revenue.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: We have around 30 full-time staff, and most of them graduated less than three years ago.

MORE: Four Tips for New Partners | Before You Sell Your Practice | Work the Client Needs … But Won’t Pay For | Tossing Timesheets Is Just the Start
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How can we let them know more about the services our CPA firm provides so they can help sell our services?
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Another Meeting?!?! … Sigh

Business meeting with people around table facing forwardIf they’re necessary, so be it. But set some guidelines.

By Steven E. Sacks
The NEW Fundamentals

When in doubt, call a meeting. Jeez! How many hours in the U.S. are cumulatively wasted on a daily basis with meetings? Are they really necessary?

MORE: Busyness Isn’t the Same as Productivity | Is Your Firm’s Culture a Magnet or a Repellent? | Building Teamwork under COVID Pressure | Make Your Writing Count | Etiquette Never Goes Out of Style | Make News, Not Noise | Take That Extra Breath with Email | Effective Communications in the Age of COVID |The New COVID-19 Workplace: Are You Prepared?
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If yes, do you employ rules of courtesy, such as strongly encouraging punctuality? Do you have a clearly articulated agenda that was distributed in advance of the meeting? If yes, did it provide advance notice about any preparatory work or research expected to be done by the participants? Finally, will the meeting be structured in such a way that it will allow for participation by the complete group?
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Uncover Potential in 10 Interview Questions

Make remote hiring easier.

By Jody Grunden
Building the Virtual CFO Firm in the Cloud

Before our firm became a distributed company with a remote workforce, our hiring was naturally limited to a small geographical location – Fort Wayne, Indiana.

MORE: What Running a Virtual CPA Firm Really Costs | Learning to Love Video Calls | Be More Effective Remotely with DiSC | Protect Client Files from Cyberthreats | Get Ready to Launch Virtual CFO Services | Riches in Niches | Marketing Is About Thought Leadership
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When we really started to grow, we knew we needed to bring in more senior-level accountants to be able to handle the clients we were bringing in at such a rapid pace.

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Make Worry Work for You

Chinese man looking worried outside on bench… instead of consuming you.

By Bill Reeb

Worry is an instinctive response that is meant to surface an issue or problem that needs attention. It is an internal alarm system saying, “Danger, danger, Will Robinson, danger” (okay, you got me … a quote from “Lost in Space,” a mid-’60s TV series).

MORE: Don’t Let Time Pass Without … | Failure Paves the Road to Wisdom | Are You Paralyzed by Fear? | How to Change the Way You Think (and Why) | Have Your Beliefs Stopped Serving You? | Don’t Use Only Your Strengths | Are You Your Biggest Obstacle? | Why Your To-Do List Isn’t Getting Done
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Like so many of our psychological and physiological responses, too much or too little of this emotion can be equally negative. If you don’t ever worry, then you might get caught off guard regarding something you could have easily prepared for. On the other hand, too much worry is like too much adrenalin: Your body will just wear itself out by constantly processing it.
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SURVEY: We Adapted to Remote Work… Now What?

Woman sitting outside with laptop and smartphonePLUS: PPP loans helped firms in multiple ways.

By Gary Adamson
The Rosenberg MAP Survey

It looks like 2020 will be a good year for almost all small to midsized firms.

MORE: SURVEY: 2020’s Disruptions Are Only the Beginning | COVID Brought Us More and Better Client Communication
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Revenues will be flat to up with the PPP application and forgiveness revenue helping out, plus most firms will recognize their own PPP loan as additional income. The big question is what will 2021 look like for us and how deep will the economic damage for our clients be when the economy finally opens back up?

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What You Tell Yourself Matters

Young man fixing collar in mirrorWhy goals and affirmations are important.

By Jassen Bowman

Every day, you should go through your goals checklist.

MORE: Use Checklists to Get New Tax Clients | Office Safety and More: Checklists for Your Tax Resolution Setup | How to Build a Tax Resolution Business | Why Lists Are Not Leads | Your Sales Funnel Needs Systems | Need a New Service Line? Consider Tax Resolution
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Whether you do this just at the beginning of the day, or also at the close of the business or actual day, be sure to include

  • empowering daily questions,
  • affirmations and
  • goals.

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Will Fast Charging Become Tomorrow’s Gas Station?

Car driving on road on pillars through Swiss mountainsMaybe, but there are tradeoffs.

By Rick Richardson

The electric vehicle (EV) market’s demand for ultrafast charging has never been higher, as automotive batteries aim to replicate the convenience of filling up a tank at a gas station in minutes.

MORE TECH THIS WEEK: What You Need to Know About Amazon Sidewalk | Microsoft: Stop Using Phone-Based Multifactor Authentication | Unlock Your Flash Drive with Your Phone | Go from Work-from-Home to Work-Anywhere | Global Tokenization Standards in the Works
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According to the U.S. Office of Energy Efficiency and Renewable Energy (EERE), more than 80 percent of EV charging takes place at the driver’s residence via basic wall outlets (100V/120V) or dryer outlets (220/240V). This makes sense as residential charging is convenient and inexpensive.
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