Archive for the ‘Firms’ Category

Thursday, July 12th, 2018

Accounting Firm Websites

 “If you want success, be unique.” – Natalie Massenet

Many firms I have talked to recently are focusing on updating their website this summer. Your website is so important. It is the first impression that a new client has of your firm. Does it look modern and trendy or does it look conservative, boring and old?

BNA logoI look at a lot of CPA firm websites and my favorite remains BNA CPAs & Advisors in Rock Hill, South Carolina. Their site is modern and trendy, clean and sleek and so are their offices and attitudes.

I met Bernie and Jason Ackerman many years ago at a conference and have stayed in touch over the years. They have been so proactive in improving their firm and its processes. They embrace technology to the fullest. Their focus remains on how they can provide even better client service.

Visit their site and explore. Learn how BNA delivers tax returns in 3 days. Then, compare it to your website. How do you stack up?

  • My personal ambition remains the same - to be creative, to be modern, to stay one step ahead, to enjoy life.
  • Natalie Massenet

Thursday, June 28th, 2018

Reminder – Participate in the Rosenberg Survey

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to participate in the Rosenberg Survey!
The Rosenberg Survey, a comprehensive benchmarking study for CPA firms, is now open for participation. Our Survey is nearly 200 pages, full of dozens of metrics, ratios and analyses of accounting firm financial performance. Participate and receive valuable data to help guide your firm.
Thank you to those who have already participated!
The fee for the Survey is $400. For questions, please contact us at (314) 209-0922 or email chylan@rosenbergsurvey.com.

Thursday, May 17th, 2018

The Partner Pledge

“Individual commitment to a group effort – that is what makes a team work, a company work, a society work, a civilization work.” – Vince Lombardi

I have talked with many firms about the use of a partner commitment statement. It is a list of things that a person commits to when they become an owner (partner) in a CPA firm. The first example I ever saw was from Sam Allred of Upstream Academy.

Over the years I have encouraged all firms to establish some guidelines for partners to follow. In so many firms, it is a sort of “now I am a partner so I can do whatever I want” culture. Progressive firms are setting the expectation for partners and I think it would be helpful to all partner groups.

Thanks to the CPAFMA discussion board, I recently read a sample Partner Pledge shared by Scott Chicoine, Firm Administrator for KerberRose, a prominent Wisconsin firm. They have kindly agreed to share their Partner Pledge with all of you. Thank-you, KerberRose!

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PARTNER COMMITMENT PLEDGE

Mission:
To Make our Clients and Employees Successful

Core Values:
• Honesty
• Integrity
• Respect
• Balanced Life
• Community Orientated

As a Partner of KerberRose, S.C., I understand that partnership is a privilege and not a right…this privilege must be continuously earned. I have a responsibility to KerberRose, the Partners, and the team members. As a Partner, I understand that I am on display for all to see and serve as a role model. My effort, attitude and desire will serve as a constant point of reference for employees. As such I pledge to:

-Commit to the Core Values of KerberRose in all interactions with all of The Firm’s Team Members
-Make myself more valuable every year and strive for continuous improvement
-Ensure the perpetuation of KerberRose through the transfer of knowledge and talents to future firm leaders
-Support firm efforts to develop and train future firm leadership
-Foster a culture that promotes inclusivity, family values, and opportunity for team members
-Continually engage with Team Members… be accessible, show them they are valued and help them to achieve their goals
-Be a great role model for success and judgment… be an inspiring Partner
-Make myself available for meetings with Firm Administrator and Managing -Partner to help monitor my personal goals and firm goals
-Delegate as appropriate, giving proper direction and setting reasonable expectations
-Commit to a unified and cohesive Partner group, but allow for creative thinking and challenging the status quo
-Commit to spirited involvement rather than grudging compliance
-Act in a modest manner and set ego aside
-Promote the full offering of available services to clients and prospects
-Ensure the services I offer are beneficial to clients
-Understand that we should provide clients exceptional service
-Always put the business interests of KerberRose ahead of my personal business interests
-Use my best efforts to meet or exceed my new business goals on an annual basis
-Use my best efforts to attain both chargeable and non-chargeable goals each year
-Establish non-chargeable hour goals that enhance the future of KerberRose
-Prepare billing timely and fairly
-Follow established collection policies and requirements of Partners
-Record my time daily
-Always give my best attitude, effort, and desire
-Make a lifelong commitment to learning

I, ________________________________have read, understand, and agree to do my best to approach my daily work in accordance with this KerberRose Partner Commitment Pledge.

 

  • Unless commitment is made, there are only promises and hopes... but no plans.
  • Peter Drucker

Thursday, January 18th, 2018

The Cloud Accountant

“Those without self-awareness do not look to improve, often because they do not think they need to.” – Jessica Daley

I talk with so many practitioners who struggle with the belief that they should employ remote employees. Whether you are convinced or not, it is a rapidly growing component of the accounting profession.

I recently read an article, 3 Essential Personality Traits of a Cloud Accountant by Jessica Daley of Xcelerate Business Solutions.

I enjoyed her article but was even more impressed when I visited the Xcelerate website.

Here’s the opening paragraph of the article. Does it sound like you and your team?

Today, flourishing in accounting requires a new way of thinking. It is less about the technical expertise and number-crunching, and more about whether you can handle systems, communicate well, innovate, solve problems, and build a rapport with your clients. If someone on your team is unable to do this, their accounting expertise does not matter—they simply will not be a very good accountant in the client’s eyes.

The 3 essential personality traits:

Curiosity – Your have to be curious about all the apps and technology so you can help your clients make the most of them.

Pride – You and your staff must have pride in what you do. You take ownership of your work and solve client problems.

Self-awareness – In the author’s opinion, this is the most important trait. You need to be aware of what you do not know.

Read more about these 3 traits here.

  • My best staff are relentless in their ownership of a client.
  • Jessica Daley

Tuesday, December 12th, 2017

Firms Are Optimistic About Growth

“There is only one way to avoid criticism: do nothing, say nothing, and be nothing.” -Aristotle

Accounting Today conducted their annual survey of over 500 firms of all sizes in November, on everything from their growth expectations to their plans for tech spending, their use of social media, and the new services they’re offering.

Here’s what firms think about their growth in 2018:

Atoday

Check out all of the results from the survey. It also shows how firms feel about hiring and retaining talent.

  • Don’t be too timid and squeamish about your actions. All life is an experiment. The more experiments you make the better.
  • Ralph Waldo Emerson

Monday, September 11th, 2017

Utilize Stay Interviews

“Be yourself; everyone else is already taken.” – Oscar Wilde

I have blogged a few time about the topic of stay interviews. They have gained more wide-spread popularity in recent years, of course, because of the accounting profession’s need to retain top talent.

One interesting observation that has been uncovered with the use of stay interviews is the fact that your people want you to hire great people. They do not want the firm to tolerate poor performers.

It certainly does make sense – they want to be part of a high-performing team. If you keep mediocre people, the firm will also eventually become mediocre.

Inovautus Consulting recently did a spotlight article about the stay interview process at DesRoches & Company, CPAs in Virginia Beach. It is a great story.

  • Growth is painful. Change is painful. But, nothing is as painful as staying stuck where you do not belong.
  • N. R. Narayana Murthy

Monday, August 28th, 2017

Future Ready

“Yesterday’s skills will not be sufficient for tomorrow.” – Joey Havens, CPA 

Last week I followed the Horne Leadership Summit via Twitter (#HLS2017). I follow Joey Havens, Horne’s Executive Partner, reading his tweets and his blog.

Providing an inspiring leadership day, featuring some of the profession’s all-stars, is an example that I hope many firms will follow.

Today, I just wanted to share this slide from their leadership day. I hope you are guiding your CPA firm to be a Future Ready firm.

Horne future

  • If we set ourselves on a course of being happy in the present, our performance will be better—which will lead to more success.
  • Joey Havens, CPA

Wednesday, July 12th, 2017

Be Active and Involved In Your State CPA Society

“The difference between involvement and commitment is like ham and eggs. The chicken is involved; the pig is committed.” – Martina Navratilova

I have met some of the most wonderful people by working with, and being involved in, The Ohio Society of CPAs.

I have also been very fortunate to have worked with and visited many of the other state societies around the country via my speaking and consulting activities.

I hope you are active in your state society and I also hope that you are encouraging the next generation of leaders in your firm to be involved.

I am especially pleased to offer my congratulations to my friend, Edward I. Guttenplan, CPA, CGMA of Wilkin & Guttenplan, the incoming President of the New Jersey Society of CPAs. Listen to Ed’s inspiring story, below. Not involved? Make a commitment to your state society today!

  • Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.
  • Greg Anderson

Tuesday, July 11th, 2017

Upgrade Your Reputation On The College Campus

“If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” – Red Adair

Want to hire that all-star student? It’s not always about money.

At my firm we liked to joke about a goal – hiring the President of Beta Alpha Psi. Each year, it seemed, the President of Beta Alpha Psi was hired by the Big Four.

Why did this happen? From our local firm viewpoint it was fairly obvious. The Bigs had the resources to be on campus weekly. They hosted parties, showered the students with gifts and had the professors in their pocket. Not staying that is all true, but ask any local firm and they will probably feel the same way.

Finally, one year we hired a very bright and articulate student and yes, he was the President of Beta Alpha Psi. We celebrated! How did we compete? We became more visible and involved on campus. One way was to give two annual scholarships to accounting students.

This all came to mind today when I read an blurb via Accounting Today about one of my clients, Rodman CPAs of Waltham, Massachusetts awarding a scholarship to John Tran of Suffolk University in Boston.

Way to go, Jennifer Minor! Jennifer and John Tran, pictured below (picture from Accounting Today).

Jennifer

  • If you hire people just because they can do a job, they'll work for your money. But if you hire people who believe what you believe, they'll work for you with blood, sweat and tears.
  • Simon Sinek

Monday, July 3rd, 2017

Closed On July 3rd?

“May we think of freedom not as the right to do as we please, but as the opportunity to do what is right.” – Peter Marshall

Firm leaders debate it. Some say yes. Some say no. Some partners think they will lose a day’s production. Some partners think – I don’t care if we close or not, I’m not going to be here. Many partners say, “Let them take a day of PTO.”

FullSizeRenderWhen a paid holiday falls on a Tuesday or a Thursday, do we also give our team a paid holiday on the Monday before or the Friday after? Almost every firm now gives the day after Thanksgiving as a paid holiday. It has become the normal. However, there is nothing normal about the policy for when there is just one day between the holiday and the weekend.

I imagine that the same amount of production will happen this week Wednesday through Friday as would happen if the office was open on Monday. I have found that people work harder if they know they are getting a day off.

On Monday, if the office is not closed, most people will take PTO and that means “someone” has to be at the office to answer the phone and support those who are working (usually partners). That is not a happy situation for those “someones.”

Just to satisfy my curiosity, I did a small survey to see if firms were closing today – July 3rd, 2017. The firms were all sizes from various locations around the continental U.S.

13 – No, we are not closing our office(s).

11 – Yes, we will be closed

One mid-size firm replied that they will be closed on Monday and Wednesday.

One large firm that answered “No” did note that they have unlimited PTO so they didn’t feel any need to close. Still, someone has to be there if the offices are open.

Another firm noted that they designate one floating holiday each year and this year it was assigned to July 3. I like this idea.

My wish is that most of you will be enjoying beautiful summer weather with family and friends. Take a hike, ride a bike, swim, golf, or have a picnic. Enjoy the great outdoors.

  • Study nature, love nature, stay close to nature. It will never fail you.
  • Frank Lloyd Wright