cpa billing rates

make the most of your marketing mix

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"target market" illustration with arrow and bull's eyeupdating the five p’s.

by august j. aquila

forty-five years ago, in 1977, the landmark u.s. supreme court decision in bates & o’steen v. state bar of arizona, 433 u.s. 350 (1977) changed the accounting profession forever. that decision prompted accountants to pursue a wide range of marketing activities. and, ever since that eventful day, accountants have been struggling with the meaning of marketing and the impact of marketing on their practices.

more: marketing orientation is what firms need | when hourly billing hurts profits
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some would say that it has been the best thing that ever happened to the profession and others, of course, would voice just the opposite opinion. whichever side of the debate you are on, there is one certainty: marketing is here to stay.
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fine-tuning the subscription fee model

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how cpa jamie lopiccolo’s subscription pricing models manage client expectations and the firm’s cash flow.
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with steven sacks
the new fundamentals: thriving in disruption

james (jamie) n. lopiccolo, cpa, cgma
lopiccolo

jamie lopiccolo, the managing member of a small midwest firm, has been employing a subscription-based model for more than four years to invoice clients for services rendered. in addition to positioning the cpa as the client’s partner for success, it also encourages those who employ the system to provide maximum value in each client interaction, rather than focusing on getting as much money or billable hours as possible. catch another conversation with lopiccolo here: sell service, not hours.

more: blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  |  accounting nerds, unlock your super powers  | private equity vs. the cpa firm partnership the fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

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the approach is to both manage expectations by the client and ensure a normalized cash flow for the firm. additional benefits include a more strategic approach to dealing with new clients because they are getting the full picture of their business’s needs.

more takeaways:

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marketing orientation is what firms need

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production orientation is where too many rest.

by august j. aquila

let’s look at the different focuses or orientations that firms can take toward managing and running their practices and see which ones the traditional pricing methods encourage. any organization, whether an accounting firm or not, usually tends to have one of four focuses.

they are either selling-oriented, product-oriented, production-oriented or marketing-oriented.

more: when hourly billing hurts profits
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each focus will have a direct impact on how a firm looks at servicing clients and pricing its services. the predominant focus is often dictated by the value system of the founders of the organization or its current management team. perhaps when the firm was first started, the predominant focus was appropriate. however, a danger exists when the external environment changes and the internal environment of the firm stays the same. in the ’70s and early ’80s firms did quite well by following a production orientation focus. in the late ’80s and the ’90s, this strategy did not work as well. and it certainly does not work today.
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when hourly-billing hurts profits

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the rule of three algorithm vs. the new cost-plus worksheet.

by august j. aquila

the time has come for the accounting professional to rethink the paradigm on which pricing has been based.

most now agree that the traditional methods of price setting can have a negative impact on a firm.

more: the morning after the merger | 6 action steps for a smooth retirement transition | the eternal riddle of being an effective leader | 7 pieces of leadership advice | tomorrow’s leader in 9 bullet points | 5 ways to get clients to accept a new pricing philosophy | 11 alternative pricing methods

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somewhere along the line accountants began to believe that an hour of their work had a set value to their clients. as we shall see, this false assumption has led to the current state of affairs and has caused accountants to:

  • produce more chargeable hours by constantly reinventing the wheel
  • hoard work and, consequently, do a poor job of delegating
  • inhibit the creation of more efficient ways of producing accounting services
  • hinder the development of more efficient project management

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staffing crisis: 40% are looking for new jobs

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data chart
adecco group 2022 salary guide

money isn’t the biggest draw.

by 卡塔尔世界杯常规比赛时间

america’s workers are on the move. maybe it’s post- (let’s hope) pandemic restlessness. maybe it’s the closing of companies and the loss of jobs. maybe it’s the windows of opportunity that opened during remote work.

more: the fintech flood: accounting will never be the same | cpa roi doa: why the next-gen accountant won’t be a cpa | matt wilkinson: think small to think big | how to communicate your value  | payroll services rocket with u.s. economy | internal communication can’t be overlooked | top issues: talent, time, and transformation |  the disruptors: re-inventing accounting with tyler anderson |

more in recruiting  & talent management

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whatever it is, an astonishing 40 percent of workers say they are likely to consider a new job opportunity in 2022, according to the 2022 salary guide issued by the adecco group.
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