bissett bullet: increase the value to increase the price
today’s bissett bullet: “build up the strength of your offer first before you talk about what it will cost.”
by martin bissett
today's features
art werner: navigating business structure decisions amid tax law changes | quick tax tip
upcoming tax law adjustments could significantly impact clients’ business structure decisions.
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quick tax tip
with art werner
cpe today
we are anticipating changes to tax laws that could significantly impact clients, either positively or negatively, depending on the structure of their businesses.
one major consideration is the type of business entity the client operates. the options include sole proprietorships, partnerships, and corporations. within corporations, there are further distinctions: c corporations or those that have made an s election.
seven steps to determining your price
plus four things to learn about each prospective client.
by jody padar
radical pricing – by the radical cpa
how much would you pay for a bottle of water in the checkout line of a grocery store? maybe $2 or $3, right? you know it costs more per unit than buying a case of water, but at that moment it’s worth it even though it’s the same bottle of water. now, let’s assume you just made the long trek back to your hotel room in las vegas. they have the same bottle of water sitting there for $10. you’re thirsty and don’t want to walk to find a store, so you pay $10 for that bottle conveniently located in your room. the water isn’t different, but the value at that moment in time is subjective.
more: using change orders with scope | who needs to understand scope? | determining a price … and when to change it | perfecting the client needs assessment | create more meaningful kpis | five reasons to ditch timesheets for good | six steps to creating a standardized practice | value pricing requires defining your clients | stop selling time | three critical factors drive the value pricing trend | stop looking for talent that does not exist
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when we think about price, we really need to think about worth. what actually are you bringing to the table? lots of training. many years of experience. vision into similar businesses. it took you years to get here; don’t sell an answer to a question the client asks for the three minutes it took to answer.
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does accounting belong in stem? | accounting arc
accounting experts debate stem designation and its implications for the accounting field.
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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
as accounting evolves into a technology-driven profession, a question looms: does accounting qualify as a stem (science, technology, engineering, and math) field? on the latest episode of accounting arc, thought leaders hosts liz mason, cpa; byron patrick, cpa.citp, cgma; and donny shimamoto, cpa.citp, cgma, tackle this provocative question.
more accounting arc: rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know | leadership for the future: stakeholders, sustainability, and strategic vision |
“stem is about applying rules-based knowledge in real-world scenarios,” explains mason, ceo of high rock accounting. “accounting fits because we apply principles and make ethical decisions just like other stem professions.”
but not everyone agrees with mason.
people development still a concern
who wants to be partner? anyone? hello?
by kristen rampe
the rosenberg national survey of cpa firm statistics
i anticipate more interest in exploring artificial intelligence and offshoring for small to midsized firms. as new use cases and case studies of success come online, late adopters will start to dabble in these important developments.
editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:
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- how do you think the next 12 months will unfold? trends? predictions? other thoughts?
- how would you assess the last 12 months? trends? observations? struggles?
more: focus on intentional growth | accounting firms upshift to corporate model | growth and complacency must concern accounting firms this year | the future of fees | how accounting firms are dealing with retirement
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strong local and regional firms will continue to thrive, though they will face the continued pressure of offers from cpa firm buyers and private equity. many fiercely independent firms will continue on their own path. of those, plenty will remain successful, but not all, and depending on where the hearts, minds and financial goals of the owners are, they might find interest in entertaining these offers.
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