Archive for the ‘News’ Category
Thursday, May 3rd, 2012
The May issue of my newsletter went out yesterday morning.
If you have ever thought of getting rid of things (or people) in your firm, you might want to read the first article:
- Addition, Subtraction, Multiplication & Division
Have you ever struggled with the decision to keep the same staff members assigned to a client engagement year after year as opposed to moving a newer team member into the role? Maybe this article will help:
- Same People On The Same Engagements Year After Year
You can receive the newsletter directly if you sign-up on my website. To read this month’s issue click here.
-
Action is the foundational key to all success.
-
Pablo Picasso
Friday, April 27th, 2012
Free partners from the administrative jungle.
I have two questions today for those of you who are CPA firm owners. Do you have a professional firm administrator handling the day-to-day operations of your firm?
As you ponder that question, hopefully you will contemplate these two items:
- If you answered no, why not?
- If you answered yes, is that person a highly-trained and motivated administrative (or operations) manager who you have empowered with significant responsibility? Shorter version: are you pleased with their performance?
If you would like more information about hiring a firm administrator, promoting someone from within or helping your current administrator become more successful, here are some options:
-
Leaders must be close enough to relate to others, but far enough ahead to motivate them.
-
John Maxwell
Thursday, April 26th, 2012
Last week-end I read an article in a business journal – you know, the network of business newspapers across the country. You probably have one in your city. This article was in the Sacramento Business Journal.
The article reports that KPMG, the New York-based accounting firm is changing the layout of its offices nationwide from a model of having separate offices to more of a collaborative open layout with cubicles.
This is a topic I have been talking to CPAs about for quite a while. The business world has moved to a more collaborative work-style and simplified office design. The tradition of having offices on the window side of the space with cubicle “stalls” (often referred to as the bullpen) in the middle of the space is no longer practical, efficient or collaborative.
Photo: The picture is the office of Mono, a Minneapolis advertising and branding agency.
I know, as CPAs, you are thinking, “we’re not creative advertising people, we’re traditional accountants.” – - All the more reason to unleash your creativity and expand your universe (and become the cool firm in town). Baby Boomer CPAs, think back and remember when you were young and cool.
Jason Blumer of Blumer & Associates has a unique way to solve “how do we configure our office space” problem. He’s doing away with his firm’s office altogether. The firm has evolved to a true virtual environment. Listen to at least the first two minutes of this video on Accounting Today TV to find out why this works for his firm and what your firm will be facing in the future.
-
Let your soul stand cool and composed before a million universes.
-
Walt Whitman
Wednesday, April 4th, 2012
Did you receive your copy of my monthly newsletter in your inbox today?
If not, I hope you’ll visit my website to sign-up. If you did, be sure to take just a few minutes – yes, at this busy time – to read it. I try very hard to keep it sort and to the point.
This month’s articles are:
Accounting Profession Rebels (You know who you are.)
Observations on Complacency (You also know who you are.)
Upcoming Speaking Events (Have you registered yet for one or more of them?)
While we are on the READING topic, I hope you will read my article in March/April issue of the Tennessee CPA Journal:
The Social Transformation: Women’s Initiatives in Accounting Firms
I’ll be speaking at the inaugural Tennessee Society Women’s Career Summit on May 8th in Brentwood, TN. I hope to see you there.
-
No matter how busy you may think you are, you must find time for reading, or surrender yourself to self-chosen ignorance.
-
Chinese Proverb
Thursday, March 22nd, 2012
As a trusted advisor, a finance professional, a resource for your clients, are you working with your clients in the capacity they expect? Are you spending more time doing bank recons and tying out pennies than you do advising and coaching your clients toward their financial goals?
I love the recent interview on the FreshBooks blog with Jody Padar of New Vision CPA Group. Padar talks about the difference between digital accounting and traditional accounting. Here are some highlights from the interview:
- We’re different because we’re cloud-based, and by using technologies where everything is accessible remotely it really allows the CPA to have an interactive relationship with their client because they’re no longer transferring files back and forth.
- It’s fundamentally changed the accountant’s relationship with their client not to mention how the accountant can provide day-to-day financial information to their clients by having real-time access.
- The movement to digital accounting takes accounting, as a profession, back to where it was and where it should be: back to the trusted advisor role.
Padar’s firm, and a growing number of other digital accounting firms, are digital accountants looking for digital clients.
How about your firm? Are you still accepting “shoe box” clients? Are you still trading information rather than working in real-time together with your clients?
Be sure to read the entire interview with Padar and think about the advantages of seeking only digital clients.
-
Efficiency is doing better what is already being done.
-
Peter F. Drucker
Tuesday, February 21st, 2012
According to a recent survey by CPA Trendlines, accounting firms are significantly increasing their business-building efforts.
66% of accountants say their firms have been increasing their marketing and business development activities in the last 12 months.
85% say they will be continuing to step up marketing in the coming 12 months.
55% are accelerating their own personal business development efforts.
83% listed adding new clients as their #1 concern, followed by – client retention, lead generation, and niche or specialty service.
Firms also plan to upgrade their websites and e-newsletters and displaying more thought leadership.
Great news! – - I hope you have a plan in place for your firm. If not, you better meet early (late April, early May) and get busy. Make your planning day very focused and come away with an action plan with steps that are owned by a specific person in the firm. Build in accountability.
You can purchase the complete 179-page survey from Bay Street Group.
-
Timid salesmen have skinny kids.
-
Zig Ziglar
Monday, February 20th, 2012
Do you know about Pinterest? It is an online pinboard and one of the fastest growing social media sites of all time.
I believe creative public accounting firms will find a way to utilize this vast audience. I’m probably like you – I was not aware of it until last week-end and I immediately thought “how could this work for accountants?”
Today, I just want you to read this brief article titled, 5 Pinterest Myths Dispelled – by A K Stout.
I also received a link to an interesting article about Pinterest from Rob Nance of iShade. It is titled, Pinterest isn’t for every small business. You might find it interesting, too.
You can explore later – I just want you to be aware.
-
Don't follow trends, start trends.
-
Frank Capra
Friday, February 10th, 2012
Can you believe it? I mean how fast a year flies by? It’s time again to join the more than 400 firms who respond to the IPA Annual Benchmarking Survey.
The 2012 IPA survey is underway and here is where you can get more information.
Participation benefits include:
- A complimentary copy of the IPA Top 100 firm rankings, along with the detailed financial and operational analysis of the rankings.
- A complimentary electronic “Executive Summary” of the 2011 IPA National Benchmarking Report
- Special discount pricing of the 130+ page IPA National Benchmarking Report.
- Special discount pricing on a customized IPA Financial and Operational Performance Report Card.
- Preference for selection in articles written by IPA throughout the year.
- Consideration for being named to the IPA Top 100, IPA Top 200, IPA Best of the Best, IPA All-Stars and the Fastest Growing lists.
-
It's not whether you get knocked down, it's whether you get up.
-
Vince Lombardi
Monday, January 30th, 2012
Whenever there is a gathering of CPA firm managing partners, firm administrators or HR professionals, the question always comes up regarding ranges of compensation for professional staff in the public accounting arena.
The January issue of Accounting Today has an article on this topic and quotes compensation ranges from the latest Robert Half salary guide (2012). Here’s a link to the article – The Salary Momentum Continues – Experienced and senior-level staff are first in line for pay bumps.
Another thing on this topic. Firms are usually very secretive about staff salaries, yet we live in an age of getting any information you desire via the Internet and social media sources. I subscribe to the thought process that it is a good thing that firm team members know that top performers are getting paid more than mediocre performers. But, what goes along with that (and specific salaries do not have to be divulged) is that mediocre performers know they are “average” and they also are given clear expectations on how to become a “top” performer and thus, earn more. Not rocket science.
-
It's ironic that retailers and restaurants live or die on customer service, yet their employees have some of the lowest pay and worst benefits of any industry. That's one reason so many retail experiences are mediocre for the public.
-
Howard Schultz
Thursday, January 5th, 2012
The January issue of Keller Solutions for CPA Firm Leaders MAP Newsletter went out yesterday morning.
If you are wondering or worrying about succession, follow the link below to read the first article titled:
- It All Begins “At Home” – Developing Future Leaders
Did you lose a great performer in 2011? Top talent inside CPA firms is getting restless and we will probably see even more movement in 2012. Whenever you lose someone, it is very important to part on good, even great, terms. Follow the link below to read more about how in this article:
- Did Your Firm Lose A Superstar in 2011?
You can receive the newsletter directly if you sign-up on my website. To read this month’s issue click here.
-
In case of news, we should always wait for the sacrament of confirmation.
-
Voltaire
