strategy

the benefits of a client situation review

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6 people in a business meetingthis is high-level and interactive, not a presentation.

by domenick j. esposito
8 steps to great

the client situation review (“csr”) is an effective tool for delivering client value.

more on strategic planning: show clients how to improve working capital | what a client service plan can add | 36 consulting services you might be overlooking | how to drive consistent partner behavior | cpa firm partner performance: different activities, different metrics | develop the partners you already have | how many partners do you need? | how to develop tactics for your strategic plan | the big eight: harsh realities for firms today
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the csr process is one of the most powerful and effective techniques for strengthening a client relationship and improving the quality and level of your service. in the spirit of building a mid-market sustainable brand, you can use the csr to demonstrate your ability to add value by providing creative ideas, asking the right questions, identifying challenges and providing solutions.
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when a virtual team makes sense

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four businessmen standing on world mapyour competitors are doing it.

by rob nixon

in 2014 there were approximately 50,000 australian office jobs sent to the philippines alone. according to experts this number is set to double this year and continue growing each year.

more on strategy: how to create 4 new billable hours per day | do you know what clients want? | is your business by design or default? | the world is flat | the profession disrupted: compliance commoditized
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it can be a touchy subject with some people but it’s not going to go away. clothing has been manufactured overseas for years and now it’s office jobs.
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people still needed, but in different ways

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robot with penthe current team may be short-lived.

by rob nixon

around the world, technology is disrupting many jobs in many industries.

more on strategy: how to create 4 new billable hours per day | 14 ways to leverage client data for new billings | what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

among jobs in the firing line include those that involve repetition, problem solving, information dissemination and data processing:

  • if there is any type of human algorithm involved it can now be done by a computer or a robot.
  • if there is manual data entry then much of that can be done by supercomputers with barcoding.
  • if there is consistent repetition in the job in the future it can be done by software and supercomputers.
  • if there is information dissemination involved then that can be done by the internet and clever algorithms.

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show clients how to improve working capital

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woman with tablet showing man something on laptopidentify issues and opportunities in the current process to craft the desired process.

by domenick j. esposito
8 steps to great

presented below is an example of an effective tool for distinguishing your firm from the rest – the ebitda/working capital improvements memorandum. this tool can be used when your client is owned by a large private equity group or other investment vehicle.

more on strategic planning: what a client service plan can add | capital markets 101 | how to implement industry practice groups | what is ‘acceptable’ performance? | 6 measures of partner performance | is hr ready for your partner pipeline? | is your pyramid upside down? | taking a balanced scorecard to your partners | seizing the $10 trillion opportunity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the ebitda/working capital improvements memorandum is designed as a unique byproduct of your attest services. at the conclusion of your attest services, you share preliminary thoughts and observations on how to improve ebitda/working capital with senior management of the portfolio company as well as with an outside investor such as a private equity group.
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don’t let technology make you dumber

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courier on scooter delivering envelopeit’s a tool, not a substitute for you.

by rob nixon

accountants have been in the pursuit of efficiency for as long as i can remember.

more on strategy: what it means to be a real-time accountant | 12 predictions on the future of accounting | will the internet replace cpas? | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you have electronic working papers, e-mail, document management, knowledge management, social media, two and three screens on every desk, intranets, portals, cloud accounting for your clients and superfast computers. the list goes on and on.
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capital markets 101

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money and business successthis could be an exciting opportunity for your high performers.

by domenick j. esposito
8 steps to great

technical specialization is also a key to attracting, developing and retaining marquee clients. examples are international tax, state and local taxes, stock-based compensation and sec/capital markets skills.

more on strategic planning: do you belong in cybersecurity? | why you need marquee clients | net profits: how much to whom? | how to drive partner performance with a smart compensation plan | 3 tools to boost your metrics | start with sound firm governance, economics | as tax season ends, strategic planning seasons begins
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

presented below is a granular look at the private and public capital markets and the opportunity it presents in securing marquee clients.
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the two most common management styles

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senior businessman with his team at officedo cpa firms need management or leadership?

by bill reeb and dominic cingoranelli

let’s start out with a straightforward question. what is the difference between management and leadership?

more on performance management: 8 ways to manage clients | the limitations of rainmakers | firms only grow when partners play their roles | the four basic parts of cpa firm partner agreements | younger partners see succession differently | how to compensate your managing partner | the job of managing partner: empowered or emasculated? | how the best managing partners turn ideas into reality
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

from one point of view, leadership is far different than management.
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survey results: what clients really want

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rob nixon: we’re all busy and time allocation is a priority, not a resource.428 business owners surveyed: “what should your accountant do?”

by rob nixon

there are two schools of thought on finding out what a customer wants and what they are prepared to pay for.

more on strategy: what it means to be a real-time accountant | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting | the profession disrupted: compliance commoditized
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the first i’ll call the henry ford way. mr. ford (who founded the ford motor company) famously said that if he asked his customers what they wanted they would have said “a faster horse.” he didn’t ask his customers what they wanted – instead, he designed something that they needed. however, the customer didn’t know that they needed it yet.
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rotten tomatoes: what do your clients really think of you?

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biological tomatoesthe tell-tale signs of trouble.

by hitendra patil
accountaneur

the urban dictionary defines “tomatoed” as the state of a relationship when you’re not quite dating but not just friends. neither party is sure if they like the other enough to date, yet continue to do most of the same things as people in committed relationships. if they get tired of one another, they can simply return to “just friends” status without social upheaval. so named because of the tomato’s role as not quite a fruit and not quite a vegetable.

more accountaneur:  the three gears that drive success in the accounting business  |  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.

how can you tell if you’re getting “tomatoed” by your clients? how to make it stop? and what does it all mean? read on…

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do you belong in cybersecurity?

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keys against background of datawho understands midsize firms better than another midsize firm?

by domenick j. esposito

technology has become crucial to business success, as it allows businesses to

  • feverishly collect vast quantities of data,
  • qualify the value of that data and
  • employ that information to benefit their customers.

more on strategic planning: 36 consulting services you might be overlooking | how to implement industry practice groups | what is ‘acceptable’ performance? | 6 measures of partner performance | is hr ready for your partner pipeline? | is your pyramid upside down? | taking a balanced scorecard to your partners | seizing the $10 trillion opportunity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

businesses are forming relationships with their customers and, in turn, are being entrusted with even more information that translates into fine-tuned marketing approaches with greater returns.
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8 ways to manage clients

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two men shaking hands across a tablethis is job 1 for the practice owner.

by bill reeb and dominic cingoranelli

whether you simply desire to improve your firm’s operations or identify and implement a new long-term strategy, you need to be clear about the role that the owners, partners or shareholders should be playing in your firm.

more on performance management: the limitations of rainmakers | different roles for different partners | how big ‘books’ hurt firms | developing a three-year vision [video] | more merger questions than you imagined | mps: how to elect them … and fire them | partners as role models: the good, bad & ugly | managing the managing partner
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

to be sure, the roles and responsibilities of a cpa firm owner or owners will vary from firm to firm, based on that firm’s needs and circumstances, and you need to adapt any recommendations to fit your firm’s situation.
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what it means to be a real-time accountant

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chart10 behaviors that pinpoint the difference.

by rob nixon

the vast majority of accountants i meet are offering “redundant data” advice. they are offering up information based on old data.

more on strategy: what it means to be a real-time accountant | are your goals big enough? | finding new opportunity in compliance services | how offshoring is shaking up accounting
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

clients don’t want services that are late. they want real-time services that are on time, relevant and pre-emptive.
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targeting the top 50 highest-paid client categories

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plant in egg shell with dollarsnearly 40% of them are in the health care industry.

by hitendra patil
accountaneur

if you have ever struggled to set yourself free from offering only commoditized, generalist types of accounting services and you thought it was very difficult to identify the niches you should focus on, relax! the bureau of labor has the answers for you.

more accountaneur:  the three gears that drive success in the accounting business  |  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.

the latest bureau of labor statistics occupational employment and wage estimates survey has revealed the secret of which professions are earning the most money.

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