leadership

can you teach judgment?

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empowering staff to make mistakes, safely.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

get more ed: clients’ calls at home  • what you need to know before expanding into business valuation  • asking an attorney for a referral fee  • are partner retreats really worth the cost? • audit reports without doing the work? • should i really spend the time making checklists? • what’s a tax practice worth today? • preparing to sell your practice in a few years? 13 things you need to know today • 10 questions to ask yourself before you decide to add financial services to your practice •  why selling your practice is not a retirement strategy •  congratulations! you bought a tax practice. now what? • how accountants can keep the business when a client wants to sell theirs • 10 reasons clients don’t pay, and what to do about it • 13 reasons timesheets will never die

question: recently a colleague asked me: “how do you teach judgment?” and before i could respond, he answered it himself with “you can’t teach judgment!” read more →

how to make an extra $72,000 by working smarter

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if you own or manage a small cpa firm, you can’t ignore effective workflow management.  if you do, you are losing money, clients, and your sanity. here’s one cpa’s story.

by frank stitely, cpa, cva

every year around the middle of tax season, the following telephone conversation happens in small cpa firms, probably yours as well.  you or one of your staff picks up the telephone to hear, “i’m calling to check on the status of my tax returns.  i dropped them off in february and haven’t heard from you since.”

read more →

what you need to know before expanding into business valuation

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here are at least 47 great money-making opportunities, but don’t overlook the difficulties in getting started.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

browse more from ed here:   asking an attorney for a referral fee  |  are partner retreats really worth the cost?   |   audit reports without doing the work?  | should i really spend the time making checklists?   |  what’s a tax practice worth today? |  preparing to sell your practice in a few years? 13 things you need to know today     |    10 questions to ask yourself before you decide to add financial services to your practice   |  why selling your practice is not a retirement strategy | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

— rick telberg
president / ceo

question: i am exploring the business valuation credential as a way to expand our practice. i’m still (relatively) young to the profession and would (i think) love to expand into this niche area.

a few things: read more →

the first nine questions your partner team needs to embrace for optimal profitability

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and six rules for keeping partners happy and productive.

by marc rosenberg, cpa
special to 卡塔尔世界杯常规比赛时间

“when a corporation says move left, everybody takes a step left. in a partnership, when you say move left, three people go to the bathroom, four people move right, and five people leave the firm.” — richard ungaretti, ungaretti & harris

related: compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…

in cpa firms, as the partners go, so goes the firm. the partners bring in most of the business, manage most of the client relationships and engagements, develop and mentor the staff and manage the firm. if the partners don’t perform these functions effectively, it is virtually impossible to be profitable and successful. read more →

3 steps to start running on millionaire time

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stop “non-profit” tasks and start making more money in your practice.

by sandi smith, cpa / exclusive to 卡塔尔世界杯常规比赛时间
accountant’s accelerator

let’s do the math. to earn a million dollars in a year, you have to bring in $83,333 per month. assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. if you want to make five million in one year, you will need to charge $5,000 per hour.

here’s some breaking news: you won’t get there doing tasks that are worth $10 per hour. even if we drop a zero and aim for six figures in a year, you won’t get there doing $10 per hour tasks either. at six figures, you’re worth $100 per hour.

sandi smith

more for soloists and small firms from sandi smith at 卡塔尔世界杯常规比赛时间:  5 mistakes to avoid when seeking new clients  • the top 12 business card blunders accountants make •  seven tips to keep the clients you have • how to attract clients like a magnet • eleven easy ways to deliver more value to clients • five things accountants take for granted that costs them revenue• what’s in your new client funnel? • what’s in your welcome kit for new prospects? • five fun and easy ways to wow your clients • six ways to give yourself a raise • strategies to stop losing business to competitors • five tips to manage your ‘overwhelm’ level • easy ideas for a quick business boost • four new mega-trend marketing strategies • how to stop leaving money on the table

the difference between poor people and rich people is simple: one values the scarcity of their time and uses every minute wisely, and the other doesn’t.

here are some tips to help you start thinking like a millionaire, which is the first step to becoming one: read more →

are partner retreats really worth the cost?

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how to do it right.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers.

browse more from ed here:   audit reports without doing the work?  | should i really spend the time making checklists?   |  what’s a tax practice worth today? |  preparing to sell your practice in a few years? 13 things you need to know today     |    10 questions to ask yourself before you decide to add financial services to your practice   |  why selling your practice is not a retirement strategy | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

question: is there any value to a retreat? read more →

the five essential building blocks for creating a strong accounting firm

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the ideal management structure for a profitable cpa firm.

by marc rosenberg, cpa
author of what really makes cpa firms profitable

the vast majority of cpa firms are well under 100 people and therefore don’t need the kind of formalized structure that larger firms need. but virtually all firms, regardless of size, need some minimum form of structure.

marc rosenberg
marc rosenberg

more like this: the seven signs of great leadership in a cpa firm | the 10 biggest mistakes cpa firms make in reading map statistics | new rosenberg map survey says cpa firm revenue growth re-accelerating | five skills that separate winners from losers in the accounting business | don’t ask a cpa what profitability means | the essence of cpa firm profitability | compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…

there is a natural tendency for firms to minimize the role of management. there are several reasons for this: read more →

the seven signs of great leadership in a cpa firm

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how strong management spells the most reliable path to profits.

by marc rosenberg, cpa

if partners of firms across the country were asked what the key was to the success of legendary fortune 500 companies such as general electric, coca-cola, ibm and countless others, i’m sure that the words “strong management” and “strong leadership” would dominate their responses. yet, ask those same partners to evaluate their own firms’ management, and if they are honest, their responses would not be very flattering.

marc rosenberg
marc rosenberg

related: compensation issues for the new managing partner | 20 decisions for your firm’s new partner compensation committee | three ways to break partner gridlock in an accounting firm | what partners are entitled to, and what they’re not entitled to | how to make partner? | why accounting firm partners are “popping prozac like m&m’s” | more…

of all of the techniques for improving cpa firm profitability, none is more effective than strong management and leadership. yet, nothing is more elusive. why is this?

read more →

give clients three reasons to love you at the next meeting

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dazzle them with the pre-meeting meeting.

joey brannon
joey brannon

by joey brannon, cpa
axiom cpa

there is an old saying that “no man is an island unto himself.” this is certainly true in the world that i live in. i am nothing without my clients. so when we have time with them it is important that we use it to maximum advantage. and having an agenda in place well before the meeting starts exponentially increases the productivity and value of the experience. read more →