strategy

how to use snail mail to find sellers for mergers

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with four steps and a sample letter.

by marc rosenberg
cpa firm mergers

in all areas of mergers and acquisitions, it’s always much more difficult to find sellers than buyers. this is certainly true in the case of cpa firms. cpa firm merger consultants and brokers can do a great job finding buyers, but they are limited in their ability to dig up sellers. this is because the vast majority of all mergers and sales take place when buyers or sellers who “know each other” get together on their own without the help of a consultant.

one way to identify sellers is to conduct a snail mail solicitation. the steps in the process are: read more →

six steps for a better tax season

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how some smart firms spent their summer vacations…

by hitendra patil
pransform inc. 

a new busy season is fast approaching and vacation season is coming to an end. but some firms haven’t been taking time off. they’ve been assessing the lessons from the 2014 busy season to apply to 2015.

more on the entrepreneurial accountant: 8 seconds into the future: meet generation z   •   5 reasons gen y will make or break your firm   •   3 ways amazon’s new fire phone hints at the future of accounting   •   the 8 traits creating the firm of the future today   •   get more done, make more money: stop doing these 17 things   •   what shopping habits reveal about accounting clients   •   create your “not-to-do’s” list   •   irs bitcoin rule: 5 things accountants need to know   •   tax season tips: train your brain to focus   •   what the bitcoin phenomenon means for accountants   •   overcoming your clients’ worst fears   •   5 tech tips for reigniting growth   •   a case study in using linkedin   •   accountants and six fundamental human needs   •   client satisfaction starts with ‘likeability’   •   why accounting? your clients want to know   •   what’s next: predictive accounting

here are six of the things that the most innovative firms have been doing. and no, they aren’t what you might necessarily expect. read more →

the 8-point financial tune-up for your accounting firm

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hstrengthen your partnership and protect minority interests.

by auqust aquila
creating the effective partnership

with busy season just around the corner, it’s a good time now to tweak your firm’s financials and partner performance.

start by reviewing your billing rates, billing and collection policies, type of work partners are doing, how you reward performers and your leadership.

more august aquila on creating the effective partnership: three ways to run a firm: but only one is sustainable  •  eight key goal areas for partners  •  5 must-do’s for every managing partner today  •  are bad clients driving you crazy?  •  6 steps to handle staffing problems in a merger  •  new times call for new cpa firm metrics  •  6 reasons why cpa firms fail in innovation  •  when the deal is done: a 24-point checklist for the morning after  • 

take the time to focus on what drives the bottom line. it’s time well spent. here are eight issues you shouldn’t miss: read more →

how to plant seeds for mergers

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veteran buyers say that for every firm they merge with, they had discussions with 10 others.

by marc rosenberg
cpa firm mergers

firms that are serious about merging in smaller firms on a regular basis understand that conducting mergers is all about planting seeds.

a buyer has to have this attitude:

every day of every year, at least one firm decides to test the merger waters. if our efforts to identify sellers are made continuously throughout the year, every year, sooner or later, we will find at least one interested merger candidate and probably more than one. read more →

the 21 steps in every merger deal

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checklist: for every step in the merger negotiations, there’s a possible misstep.

by marc rosenberg
cpa firm mergers

it’s important to understand the flow of the entire merger process.

every merger has its unique aspects. it’s impossible to choreograph, from a to z, exactly how the process for all mergers will work. most steps occur in the same order from one deal to the next. but then, all mergers are different. your mileage may vary.

still, there are at least 21 steps that need to happen. and one can’t happen without the other. take a look…

read more →

8 seconds into the future: meet generation z

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your new clients, new staff, new partners.

by hitendra patil
pransform inc.

have you ever watched a 5-year-old play on a tablet? it’s effortless. to them, it’s second nature.

born in 1995 or later, generation z makes up 26 percent of the united states population and is responsible for yearly spending of $44 billion.

but they may already be impacting the future of the accounting business in four important ways: read more →

the 13 big reasons firms merge

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and 13 potential sticking points with conflicting agendas.

by marc rosenberg
cpa firm mergers

whether you’re looking to acquire a smaller firm, merge upward into a larger one or join forces with an equal, answering this basic question honestly and objectively is key to laying the groundwork for a successful merger. read more →

all great strategy starts with “why”

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what do we want people to know, think or feel as a result of our internal communications efforts, and why? by bruce w. marcus the answers to these questions are the foundation for any communications activity, internal or external. they … continued

15 deal breakers and non-negotiables in mergers

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prepare for the unexpected.

by marc rosenberg
cpa firm mergers

potential deal breakers in a merger negotiation can crop up at any time – and unexpectedly. but here are 15 that seem to occur more often than others. in most cases, one firm wants something, the other firm doesn’t and the two can’t agree on how to resolve the conflict. be prepared. read more →

5 must-do’s for every managing partner today

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listsnew study shows merger mania and consolidation force new imperatives for the year ahead.

via bkr international

it’s no secret that the u.s. accounting industry is consolidating. with m&a comes an era of larger regional firms with more staff and more specific advisory services and clients than the general public accounting practice model our fathers and grandfathers knew.

more on the managing partner: the 9 ways managing partners leverage technology for a competitive edge  |  the 3 traits shared by 150 top managing partners  |  how the best managing partners lead by example  |  what successful managing partners do  |  managing partners reveal 11 strategies for getting their firms to the top  |  27 tough questions for evaluating the performance of a managing partner  |  essential advice for the new managing partner  |  eight new metrics to measure managing partner performance and potential

whether they want to conserve firm value for outgoing partners or grow for the next generation — or both — firm managing partners face difficult choices.

in a new study, members of bkr international reveal five important to-do items that need to take place within firms to support continued growth and excellent client service in the coming year and beyond. read more →

today’s 15 essential deal points in accounting firm mergers

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with 5 specifics on price and 5 on compensation.

by marc rosenberg
cpa firm mergers

there can be an almost unlimited number of  terms that both sides in a merger of accounting firms can haggle over. and sometimes they do.

more on cpa firm firm mergers:  do cpa firm mergers really work?   |  6 steps to handle staffing problems in a merger  |  13 ways cpa firm mergers can go wrong  |  nuances and idiosyncrasies: the top 12 issues that complicate mergers  |  talking merger? the basic 7-item agenda for the first meeting  |  10 special implementation issues in a merger of equals  |  in merger talks: 13 essential questions small firms must ask larger firms

but these days, only 15 really matter. get past these 15 and you’re on track to close a reasonable deal. still, be warned: the devil’s in the details. read more →

new times call for new cpa firm metrics

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how to fine-tune your management dashboard for effectiveness, innovation and growth.

dreamstime_xs_9983601.jpgby august aquila
creating the effective partnership

don’t kid yourself – it’s a new world out there. accounting firms need to become more transparent. partners and employees need to truly understand the firm’s vision and value proposition. they need to see how their daily actions move the firm toward its goals. mission and vision can no longer be vague, fluffy statements that mean nothing to your clients, employees and partners, and prospects.

this new environment requires firms to actually implement their goals by looking at specific objectives and measures. performance and execution are the key operatives. the old measures, by themselves, won’t do the job anymore. they are still valuable, but new measures are needed today. firms no longer compete with the firm down the street in terms of mere marketing. they now complete in how they manage the practice, treat their employees, win employees’ hearts and minds and provide a true learning environment.

what would it be worth to you if you had a system which could measure your business development and management efforts?  in short, measure how well you are implementing your firm’s strategy? read more →

what stage of business are you in?

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evolving from running a practice to leading a business.

by sandi smith leyva
the accountant’s accelerator

technology has allowed just about everyone to start their own businesses. we can do something part time, full time or in between. we can start and stop our businesses. we can be successful at lots of different business models. and we can go through stages of our business.

if you want to grow exponentially, or even linearly, you’ll need to progress. and before you can do that, it makes sense to figure out where you are now. here are five stages of business so you can see where you are now and where you want to go. read more →