growth strategies

when to pick up the phone this tax season

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businessman talking on phone in the officepersonal touches help retain clients.

by ed mendlowitz
tax season opportunity guide

clients are not numbers on a list that needs to be reduced. they are all individuals and consider themselves very important people and want professionals who treat them accordingly.

more: these five procedures will simplify your tax season | 11 steps to better client tax instructions | get your team ready for tax season | 12 ways to squeeze fun into tax season | 6 ways to get paid faster in tax season
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it is attitudinal and accountants must adopt that mindset and transmit that through to their culture. so you need to know when it’s essential to pick up the phone.

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five steps to building advisory work

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both the who and the how.
hand watering small plant in pot shaped like upward arrow

by bill penczak

the nirvana (in the esoteric sense, not the kurt cobain context) for cpa firms is to provide “higher value” work for their clients, which traditionally means guiding them with process improvement, predictive analytics on business drivers, or taking proactive measures to reduce risk or tax burden.

more: the six essential kpis for managing partners | the great resignation: five reasons accountants are quitting | five global cpa leaders: four survival strategies | planning for success in 2021 | do you have the guts to beat the covid crisis?
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it is a career builder for your staff and a noble aspiration for the industry.

but while i have heard managing partners talk about the notion of higher value work, when pressed, they are often at a loss as to what that work would be, and more importantly, whether their mid-level and junior-level staffers (or even partners) have the true skill set to move into the major leagues.

the burden of meeting compliance deadlines weighs heavily on most staff, and they are weary from deadline pressures of clients’ immediate needs to consider much else.

perhaps this is the opportunity to help chart your best and brightest to the next level, not only for fear of losing them to industry or another firm, but because as a firm leader, it’s the right thing to do.
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turn your business model upside down and reap the rewards

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illustration of man pushing "services" buttonyour secret weapon to exponential profits.

by matt solomon

learning to price, sell, and deliver through a simple, proven process streamlines the way you communicate your value and makes it easy for clients to say yes. it’s your secret weapon.

more: shift 2: step into the role of a business advisor | shift 1: stop depending on compliance work | take the nine-point practice checkup | three ways to leverage today’s uncertainties for renewed growth
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with practice, your ability to price, sell and deliver will be as routine as a 1040

but it’s worth a whole lot more: between $36,000 and $180,000 per year, per client.
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turning client service into new revenue

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podcast: today everyone contributes to growth.
//m.g005e.com/?p=91438

stream or download the episode. |  follow 卡塔尔世界杯常规比赛时间 podcasts on apple here |
or paste this rss link into the podcatcher of your choice.

with sarah johnson dobek and ty hendrickson
inovautus consulting
sales is sometimes presented as this abstract notion of convincing someone to buy your product, but it actually follows a simple framework. it may seem like an obvious answer, but there’s some science behind the why.

success secrets in specialties

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make sure your choice is interesting and portable.

by ed mendlowitz
call me before you do anything: the art of accounting

i was not a specialist. in some respects, i am the last of the “expert generalists” and generalists are fast becoming extinct.

more: making sure the son got proper credit | yes, shirt logos can matter | preparing for the worst (thanks to my wife) | why cpas should stay in public accounting | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers
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in this age of specialization and niche expertise, being a generalist is a negative to most people, indicating a lack of competency in their area. i tend to think of the old general practitioner physicians versus the modern-day specialists. no one looks at the whole patient.
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10 ways to protect your best clients from your competitors

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two businessmen shaking hands in front of tall office buildingsdo they know how valuable they are … and why?

by ira rosenbloom

in every market, cpa firms have a wish list of clients they would like to have. clients will change accountants for all kinds of reasons. some changes are natural, like new decision makers, new owners and new lenders. others change because of service.

more: are you overthinking an m&a deal? | how to put the ‘success’ in succession | how covid-19 has changed succession planning | top 10 steps to maximizing profitability
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to keep your competitors from poaching your business, remember to always treat your best clients as your best clients! here are 10 recommendations to keep in mind.
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making sure the son got proper credit

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businessman holding word "success" and upward arrow in handsthe difference a graph can make.

by ed mendlowitz
call me before you do anything: the art of accounting

i have a client who owns considerable real estate that her son manages. the son actually does a very good job maintaining the property, growing rents and keeping vacancies to a minimum.

more: yes, shirt logos can matter | 10 more reasons cpas quit public accounting | the 10 best movie accountants | when cpas leave to work for a client | when parents, children hit an impasse | wealth is a state of mind
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my client’s husband was the builder and driving force behind this mini empire, but he passed on a few years ago. he was a dynamic self-made person who amassed quite a fortune and turned over daily operations to his son about 10 years before he died to spend considerable time golfing and traveling.
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virtual workshops guide clients through covid

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help them focus their perspective.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

helping the wealthy think through where they are and what they can do is extremely powerful in establishing and strengthening relationships. it also expeditiously produces more business for accountants and other professionals.

more: thought leadership is more precious than ever | four ways to leverage your referral network | four qualities of the wealthy | it’s all about your wealthy clients
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we converted the everyone wins process into a supportive workshop where the initial interaction can be conducted with a small group. it is also effective in one-on-one settings.
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six ways to get paid faster

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stamp paid - 3dit’s good for business and considerate to clients.

by ed mendlowitz
tax season opportunity guide

accounting is a business and businesses need to be paid.

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it’s harder to justify prices when providing services rather than products. products are usually priced before delivery while many times services are priced after delivery, i.e. performance.

many accountants price tax returns before they are worked on, usually basing the fee on last year, or a rate schedule. sending a bill with the return establishes the relationship that you should be paid promptly for the work done.

it shows that you run a business and also provides a courtesy to the client in that they can immediately evaluate the cost and value of what was done.

but just as importantly: read more →

when to avoid the appearance of assuming a responsibility

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magnifying glass held over document with word "agreement" highlightedbottom line: are clients willing to pay for your services?

by ed mendlowitz
call me before you do anything: the art of accounting

accountants are really nice people who look for ways to help and better serve clients.

more: yes, shirt logos can matter | 10 more reasons cpas quit public accounting | the 10 best movie accountants | when cpas leave to work for a client | when parents, children hit an impasse | wealth is a state of mind
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

sometimes we present the appearance that we are doing something or are assuming a responsibility that we are not, and this should be avoided.

here are some illustrations:

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lease accounting is about to get very real

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> click to play

after a brief pandemic pause, new lease accounting rules will start to hit hard in 2020.

with ane ohm
ceo, founder of leasecrunch

after a delay for the pandemic, new lease accounting rules are set to take effect in 2022 and too many firms and companies aren’t ready, ane ohn, founder and ceo of leasecrunch software tells 卡塔尔世界杯常规比赛时间.

related: google ads for new tax season clients | eisner ceo charly weinstein explains the private equity deal   |  a “call to arms” after private equity deal | is that shiny new software your best choice? | survey: office 365 dominates accounting offices | mobile devices without batteries? | distributed firms need different tech suites | are scanners out of date? | drake takes the cake in tax apps | zoom tops teams for now  |

the lease standard was delayed by a year, ” ohm says,  “instead of having been effective this past year, it is effective in 2022.”but the world has changed since the rules were first written.

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