Today's Features

Before You Sell Your Practice

Older couple on autumn walk with trees in backgroundA broker is an option, but you have things to decide first.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: We are contemplating selling our firm. It’s a difficult decision due to the financial rewards and the enjoyment we get from our work. I am 63 and my wife-partner is 62 and we are not in a hurry.

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We would like to sell to a CPA who would be very committed to this business and our clients, many of whom have been with us for over 20 years. How should we start?

The 8-Step Method for Launching Client Accounting Services

Start small, learn, and then expand.

By Hitendra Patil
Client Accounting Services

Whether you are thinking of offering client accounting services, have already started offering it or you want to grow your CAS practice or make it more profitable, some proven steps will make your CAS practice shape up in the most optimized way. If you have already started offering CAS, these are the steps that you will revisit from time to time.

MORE: Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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There are several steps to get started in CAS and make your CAS practice better. The following details are just a bird’s-eye view of the important aspects of how to create your CAS practice. READ MORE →

How Can Change Management Really Produce Change?

Post with two signs, "same" and "change"BONUS: 3 steps to improving your culture.

By Steven E. Sacks
The NEW Fundamentals

Lately I have been in conversations on the topic of change management. There is no one right definition because consultants can view this concept in slightly altered ways. Besides, one person’s view of change can be another’s view of slight modification. Either way, there needs to be preparation from the firm, team and individual levels.

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On a visceral level, change management is a mindset of how to prepare, equip and support people so they can successfully adopt change to drive organizational success and the resulting outcomes. If you peel away the layer of consultant-speak, it is really about how to influence people to change their behavior from “in the moment” to “future thinking.”

What’s a Bot? New Tech Tools to Boost Your Practice

Boosting revenue and profit with new automation technologies.
^ View the video | Subscribe on Youtube

With David Bergstein

As we move from manual, to digital, to everything automated, bots are becoming an important part of how we transition from compliance services to high-value advisory services.

In this episode: It pays to know your bots.

^ Play the podcast | Listen and subscribe on Apple Podcasts

Transcript READ MORE →

Entitled Rainmakers and Other Practice Development Errors

Can retired partners stay involved? Only if it benefits the firm.

By Marc Rosenberg
The Rosenberg Practice Management Library

This post explains the rock-solid link between bringing in business and partner compensation.

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Here are the major factors firms consider in compensating partners:

  • Bringing in business
  • Managing a large client base profitably
  • Providing great service to your client base
  • Holding management and leadership positions in the firm
  • Nurturing and mentoring staff; helping them learn and grow
  • Living and breathing the firm’s core values


Is Your Sense of Duty Misplaced?

Businessman crossing finish line after leaping hurdlesOnce again, you may be your own biggest obstacle.

By Bill Reeb

In my opinion, most people are rarely driven by just their own desires. Rather, they are influenced heavily by the desires and expectations of those around them as well as by the roles they fill.

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Duty is synonymous with words like responsibility and obligation – and the thesaurus offers the phrase “what you have to do.” Duty has intellectual and emotional ties to your value systems, too. Therefore, to defy one’s duty is to default on one’s values.

Herding Cats: Advice for Managing Partners

Goldfish forming an arrow“Effective leaders get people to follow without making them feel they are being TOLD what to do.”

By Marc Rosenberg
The Role of the Managing Partner

“Few things are more important to human activity than leadership. It helps countries prosper. It makes businesses successful. Parents help children become successful adults.

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“The absence of leadership is equally dramatic. Without leadership, organizations move slowly, stagnate, and lose their way. We are taught that if decision-making is timely and correct, things will go well. Yet a decision by itself changes nothing. More important is implementation, and that’s where organizations often fail.

“Implementation is about how leaders influence behavior, change the course of events, and overcome resistance. Leadership is crucial in implementing decisions successfully.” – Quinn Mills, Harvard Business School professor


Unlock Your Flash Drive with Your Phone

flash drive and smartphonesNew gadgets for the work-from-anywhere accountant.

By Rick Richardson

There are a lot of encrypted USB flash drives out there. You plug them in, and either there’s an on-screen popup that asks for your passcode, or some sort of physical keypad that is used to gain access.

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But what about transferring the unlocking mechanism to a mobile device – such as a smartphone or your Apple Watch?

Teaching the Meaning of ‘Done’

Angry boss in chair staring down at tiny businessmanNot to be confused with the dreaded “done but.”

By Frank Stitely
The Relentless CPA

In my last book, as with this one, I recommended hiring younger staff. In that book, I cautioned that you might have to teach very simple tasks like breathing and using the bathroom to your newbies. posted an excerpt with my advice.

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One reader posted that she didn’t believe it was the responsibility of an admin department to teach bathroom use. She was new to this hot new writing technique called sarcasm. She did a great job making my point that you have to teach your staff a lot of really basic things.