$26 billion worth of strategic insights for accountants

https://cpatwpe.s3.amazonaws.com/cpatrendlines/wp-content/uploads/2016/09/microsoft-linkedin-conference-call-announcement-2016-06-13.pdf
download microsoft’s pitch deck on the linkedin deal (pdf)

this isn’t just news. it’s a business lesson in three parts. 

by hitendra patil
accountaneur

microsoft announced that it is buying linkedin for a colossal $26.2 billion—cash. what’s the message to the accounting profession? the value of the “professional network” isn’t in the number of its members, but the combination of the buying and the influencing power of linkedin members. the whole is greater than the sum of its parts.

more for the entrepreneurial accountant: the three gears that drive success in the accounting business   |  the words that will change your future  |  a declaration of independence for accountants  |  brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

take a look at how microsoft and linkedin look at the deal (pdf). while microsoft is paying $26.2 billion (including net cash) to buy linkedin, it believes the total addressable market of its linkedin purchase is $315 billion. read more →

new findings: the three gears that drive success in the accounting business

gears-in-head
essential success traits: join the survey; get the results

top drivers found in new 卡塔尔世界杯常规比赛时间 research.

by hitendra patil
accountaneur

a new study of 卡塔尔世界杯常规比赛时间 survey research shows that the most successful accountants in the business share three particular personality traits that, when combined, create a powerful force for growth and profits.

卡塔尔世界杯常规比赛时间 is studying “the essential traits for success as an entrepreneurial accountant.” nearly 400 accountants have participated in the survey and about 80 percent of the respondents are managing partners, owners or ceos of their firms.  join the survey, get all the updates.

findings from the survey have already shown that “decisiveness” is the top trait for success in accounting business. but when matched with two other traits, the three together form a powerful and integrated success-cycle for accountants.

the research is finding answers for questions like:

  • which traits separate successful firms from others?
  • how do high-performing firms thinking differently from others?
  • which traits determine how big your firm can grow?

read more →

the words that will change your future

future informationdistilling the thoughts of thought leaders for emerging trends.

by hitendra patil
accountaneur: the entrepreneurial accountant

with accounting today’s new directory of the “top 100 most influential people in accounting,” we can glean a few clues about the future of the accounting profession.

more accountaneur: brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?  |  do you want a practice … or a business?  |  ‘decisiveness’ rated top trait for   success in accounting business  |  tax season management: multi-tasking is a myth  |  3 apps to automate business networking  |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but before going further, take a moment to jot down a few words that come to mind when you think about your own future and the future of your business.

read more →

a declaration of independence for accountants

u.s. flaglife, liberty and the pursuit of happiness in work as in life.

by hitendra patil
accountaneur: the entrepreneurial accountant

one of the most powerful expressions in the declaration of independence made on july 4, 1776, is: “we hold these truths to be self-evident, that all men are created equal, that they are endowed by their creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness.”

more for the accountaneur: brexit worries?  worry more about cexits, texits and pexits  |  linkedin launches accountant-for-hire service  |  4 pillars of future firm foundation  |  ‘uberizing’ means more than technology  |  you don’t think technology helps get new clients?  |  do you want a practice … or a business?  |  new survey results: ‘decisiveness’ rated top trait for  |  success in accounting business  |  tax season management: multi-tasking is a myth  |  3 apps to automate business networking  |

if life, liberty and the pursuit of happiness were the unalienable rights in the accounting profession, what would they look like? read more →

brexit worries?  worry more about cexits, texits and pexits

brexitbrexit is the least of your potential problems. here are three real issues to worry about.

by hitendra patil
accountaneur: the entrepreneurial accountant

the world just changed overnight.

and there are always two distinct ways the human mind works.

  1. react: what just happened? google searches for “what is the eu?” spiked!
  2. respond: as is the human wont, the most debated question of the moment is “what next?”
  3. google searches for ”how to emigrate” spiked too!

will brexit become precedence, with far-fetched unimaginable consequences? but, most importantly, how will it affect u.s. accountants?

read more →

linkedin launches accountant-for-hire service

linkin profinder listing
linkin profinder listing

new buying service promises accountants projects and ongoing assignments.

by hitendra patil
pransform

the shared economy, contingent workforce, millennials’ preference for work-life balance, the cloud, artificial intelligence, big data. everything is converging to disrupt traditional business models of many industries and professions.

and accounting is not immune to disruption. on the contrary, accounting is ripe for disruption. note carefully. it is all only “disruptive.” not “destructive.”

riding the new reality, the undisputed leader of business social media – linkedin – is now leveraging its platform to help shared economy workers get new clients.

meet profinder: accountant’s new opportunity  (and a new threat?)

read more →

4 pillars of future firm foundation

illustration of gears turning in braincpa firms can learn from google.

by hitendra patil

in what cpa firms could learn from google’s alphabet, we identified 13 lessons cpa firms can learn in strategy and innovation from google’s founders.

ever since google created alphabet, researchers have been analyzing the possibilities. in a recent mit technology review, author joel gertner discussed what will alphabet be when it grows up?. in this discussion, in addition to identifying the most important key to alphabet’s future success, reference is also made to the 11-year-old document that was part of google’s ipo. the insights from the mit review are applicable for not just technology businesses; the accounting profession can also draw parallels from them. here they are:

more on entrepreneurial strategy: ‘uberizing’ means more than technology | you don’t think technology helps get new clients? | do you want a practice … or a business? | tax season management: multi-tasking is a myth | 3 apps to automate business networking | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | re-learning the lingo of the accounting business | how the “1099 economy” will transform accounting | 10 things that accountants didn’t worry about 10 years ago | as block and liberty add accounting services, independents face 3 options

cpa firm success requires an effective commercialization strategy.
read more →

‘uberizing’ means more than technology

portrait of man in his car looking at camerago beyond what your clients might expect.

by hitendra patil

when did you last buy new software for accounting, tax preparation, practice management, sales tax calculation or payroll processing?

more on entrepreneurial strategy: you don’t think technology helps get new clients? | do you want a practice … or a business? | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | what cpa firms could learn from google’s alphabet | what if accounting firms were ‘apps?’ | top 10 entrepreneurial traits of successful accountants

think for a moment: how did you arrive at the decision to buy the new software? what did you think before buying?
read more →

you don’t think technology helps get new clients?

"good vs. evil in technology" illustration using laptopsturn “necessary evil” into “welcome angel.”

by hitendra patil

“new clients do not come to me because i have an accounting software and/or a tax software. they hire me because i am a cpa.” a small firm owner from los angeles recently expressed this, on the condition of anonymity.

does that summarize how accountants view technology spending? the new accounting firm operations and technology survey gives us a surprising insight into how primary technology purchasing decision-makers view technology spending.

more on entrepreneurial strategy: do you want a practice … or a business? | tax season management: multi-tasking is a myth | re-learning the lingo of the accounting business | top 10 entrepreneurial traits of successful accountants | six steps for a better tax season | 8 seconds into the future: meet generation z | get more done, make more money: stop doing these 17 things

key findings from this survey indicate:
read more →

do you want a practice … or a business?

hand putting coins into blue piggy bank7 decisions accountants may someday regret.

by hitendra patil

you might end up losing a million dollars or more. surprised? here are ways you could be frittering money away without even realizing it.

more on entrepreneurial strategy: new survey results: ‘decisiveness’ rated top trait for success in accounting business | the 5 most common marketing blunders accountants make | 10 things that accountants didn’t worry about 10 years ago | what if accounting firms were ‘apps?’ | six steps for a better tax season

1. doing instead of getting things done

accounting is not a service industry. hotels and package delivery are service professions. they thrive on efficiency, technology, standardization of processes and so on. read more →

new survey results: ‘decisiveness’ rated top trait for success in accounting business

keys to success surveyfirst insights from “how to succeed in the accounting business?” survey.

join the survey; get more answers.

by hitendra patil

although seven personality traits seem closely related to success as an entrepreneur in the tax and accounting business, the vast majority of accountants believe that one stands above all the rest in importance: decisiveness.

preliminary new findings from a 卡塔尔世界杯常规比赛时间 survey of more than 300 accountants, more than 80 percent of them owners or ceos of their firms, shows that the biggest success factors are not just knowledge, not just experience, not just problem-solving ability, and not just vision.

read more →

tax season management: multi-tasking is a myth

woman multitasking dollarphotoclub_58357039

here’s how to apply neuroscience insights to tax season.  next question: what are the best time-management tips and strategies for busy season? join the survey. get the answers.

by hitendra patil

it’s october 14th. you are preparing a complex tax return. the cell phone rings. you look at the phone. it’s your wife calling. you answer the call. while on the call, you look at the third screen of your computer. there is an email from your largest client, with subject line “emergency; please help.” in walks your receptionist, frantically gesturing that there is an irritated client at the front desk.

more on the entrepreneurial accountant: 3 apps to automate business networking  | the 5 most common marketing blunders accountants make |  linkedin adds messaging. finally!  |   re-learning the lingo of the accounting business  |  how the “1099 economy” will transform accounting  |  what cpa firms could learn from google’s alphabet  |  summer reading list: five great books for the five lives of a busy accountant  |  four signs the uberization of accounting has already begun  |  management guru chester elton on success  |  savvy cpas focus on the constants  |  more

yes. you may recognize the multiple demands on your time and your brain. but multi-tasking is just a myth. the science is in: no one performs as well multi-tasking as they do when focused on a single task at a time.

read more →

3 apps to automate business networking

high quality 3d render of a robot hand touching a human hand, representing the relationship between human and artificial intelligence. dramatic orange overcast sky.

new technologies harvest social media data, suggest how to write the perfect follow-up email, and schedule appointments.

by hitendra patil

have you found yourself attending a networking meeting and spending most of the time with just one or two persons you already know? you are not alone! it’s challenging to get the communication started and going. it is an even more daunting task to make killer impressions and walk out with connections that will help you and your business.

more on the entrepreneurial accountant:  the 5 most common marketing blunders accountants make |  linkedin adds messaging. finally!  |   re-learning the lingo of the accounting business  |  how the “1099 economy” will transform accounting  |  what cpa firms could learn from google’s alphabet  |  summer reading list: five great books for the five lives of a busy accountant  |  four signs the uberization of accounting has already begun  |  management guru chester elton on success  |  savvy cpas focus on the constants  |  more

but that’s where new technology comes into the picture. you don’t have to the best-dressed person in the room, nor the smoothest talking or most knowledgeable. you just need to have the best appetite! let me explain, rather, reveal, some powerful information that can totally transform how you network. from thousands of apps and websites that i have personally tested, here are three that could make you a networking hero.

read more →