today's features

three things that rich accountants do

woman using calendar planner on tablet

make them second nature.

by martin bissett
business development on a budget

you may be thinking right now, “well, very good, martin, but we have finite time. we’re very, very busy people and we need to get business in the door, and therefore creation of opportunity becomes the issue.”

more by martin bissett
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regardless of whether we’ve got 20 opportunities on our plate today or none, when the next one comes along we can’t afford to be anything other than confident, comfortable, assured relationship builders who have tremendous value to offer. because people will see that body language, those voice tones and hear those words and it will be attractive. they will want to get to know more – they’ll want to be able to look at options. they’ll want to know what you’ll charge, and they’ll want to know what they’ll get for what you charge.
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poe: what p.e. really wants from firms | the disruptors

beyond revenue and margins, buyers are scrutinizing teams, culture, and operational health.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
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build a 7-figure firm in just 4 hours a week!

the disruptors
with liz farr

brannon poe, founder of poe group advisors, says the key to a successful firm transaction is fit.  

“i think having a good deal is really about having a good fit,” he says. besides technical skills, “you have to have management styles that mesh well, you have to have client service philosophies that are aligned,” he explains.  

more streaming:more streaming: oliver: build a biz that runs without you | daiber: use succession as a growth strategy | cannon: busy season is self-inflictedcarroll: when one person can break the firmrampe: build a roadmap even when the road’s not therechang: killing saly, one agent at a time | vanover: 5-star firms don’t bill by the hourkless: profit is a result. flourishing is the purpose | whitman: build culture on ‘progress,’ not change | shein: no pe? no m&a? no problem | hood and weber: time to riseproctor: turn dumb ideas into brilliant solutionscarter-gray: how 1 poor review strengthened the firm | hartman: upwork to “40 under 40” in 3 years |

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for sellers, choosing the right buyer matters as much as the price. “i find that the sellers in particular, who keep their focus on fit and choose the right buyer, usually are the happiest with their exit.” 

the last few years have created favorable conditions for accounting firm sales, but not for everyone.  

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regulators put pe under the microscope

private equity meets public trust.

by 卡塔尔世界杯常规比赛时间 research

the nation’s accounting regulators are signaling that private equity’s rapid expansion into cpa firms has reached a point that demands closer scrutiny.

more private equity

in a new white paper, the national association of state boards of accountancy lays out a framework of questions that could shape the next phase of regulation for firms backed by private equity or operating under alternative practice structures. at the same time, senior officials at the securities and exchange commission are warning cpa firms to remain focused on “the basics.” the aicpa is also considering revising its independence regime.

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how to price and package advisory services

hand moving triangle along beam to indicate balance between price and value

three reasons that hourly billing fails.

by hitendra patil
client accounting services: the definitive success guide

for decades, hourly billing was the primary pricing method in the accounting industry. charging based on time seemed fair and simple. however, as your firm shifts into advisory-cas (client accounting services), that model starts to show its flaws.

more by hitendra patil
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why? advisory services focus on the impact and outcomes they provide, with time becoming less of a priority. if a cpa firm partner spends 45 minutes advising a business owner and that conversation prevents a six-figure mistake, what is that advice worth? much more than what a typical $200/hour rate suggests. in this case, the time spent is less important than the value provided.
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close performance gaps with a high-performance business framework

businessman holding word "success" and upward arrow in hands

bonus: sample client feedback letter.

by domenick j. esposito
8 steps to great

the high-performance framework is a description of how middle-market companies can identify the components of high performance, assess their present position relative to high-performance benchmarks, and then create a plan of action to close any performance gaps.

more by domenick j. esposito
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the framework is essentially a set of models and common language that help communicate with a client. it provides the basis for developing an action to assist a client in a systematic and thoughtful way.
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