Practice Management news

Practice Management

Sell Like A Harley

Everyone knows Harley-Davidson. You need to wait in line if you want one of their motorcycles. And you'll pay a premium for your hog because they're so popular. Maybe you forgot when no one wanted to buy them. In 1981 when AMF tried to sell them, not one company offered to buy them. That's quite a turn around from no one wanting you, to everyone who wants you standing in line. Their strategy for turning their business around has some powerful seeds of wisdom that can help us grow our businesses.Know your business.
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Practice Management

Survey Finds Companies Rewarding "Y2K Weekend" Staff

Information systems professionals working the weekend of December 31 through January 2 can forget that New Year's party. In lieu of spirits and camaraderie, however, they may receive extra pay, compensatory time off, and other special privileges. A new survey by William M.
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Practice

Use Your Team's Input To Increase Your Bottom Line

Your marketing efforts are bringing more business in the door. Your gross revenue has increased significantly in the past year. But somehow, you don't think your people are performing at the level they could be. Or, maybe, you need them to increase their productivity level to keep up with your new business. How do you bump up productivity without making employees feel overworked and underappreciated?Chances are, your hunch is trying to tell you something. There may be room for increased productivity with your existing employees; hiring more talent isn't always the answer.
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Practice Management

It's the little phone things that really irritate clients

You've invested in service building programs, you have high firm standards for products going out to your clients, but wait! It's your phone manners that can undo your best client service efforts.Put your best phone forward. Clients appreciate prompt, courteous attention when they call your firm. Make sure they don't have to go through telephone system twister to get to you. Offer a direct line when possible. Always ensure that your clients have a backup contact in case you aren't available. Use caution if you screen phone calls.
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Practice Management

Is your vision statement working?

Yes? No? Don’t know? Hey, what’s a vision statement? In many firms, vision statements are beautifully lacquered plaques that hang quietly on the wall waiting for someone to read them. The problem is for a vision to be a truly powerful communications tool for your team, you must have a strong, realistic vision statement in place.Use these tips to “grade” your current vision statement’s program effectiveness. Is it true?
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Practice Management

People Before Strategy

As the accounting industry drives through consolidators, mergers & acquisitions and Big 5 fall out, your firm may be trying to change strategy or culture to keep up with the flurry of activity.
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Practice Management

Report Finds Customer Relationship Management Growing Practice For IT

A report released today by the Aberdeen Group finds that Customer Relationship Management (CRM) is one of the major growth areas for information technology professional services firms.CRM is second only to e-commerce in the fastest growing practice area in the industry, according to the report, A Guide to Customer Relationship Management Professional Services: 1999 Edition.The report provides descriptions of CRM services and associated IT companies.
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Technology

Employers Find Help For Hiring Risks

The number of lawsuits associated with hiring new employees is increasing at an incredible rate and now accounts for more than one in 10 employment suits in the United States.
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Practice

Cut staffing costs

Staffing can be one of your highest cost centers. Manage this expense and you'll be on your way to preserving one of your firm's most valuable assets and getting more bang for your buck. Increase training, increase retention. Commit to an employee development program and you might just increase employee loyalty. Employees respond to employer sponsored programs that make an investment in their technical, professional and personal skills. From presentation skills to management training, you have lots of ways to show employees that you are willing to invest in them. Take it outside.
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Practice Management

Planning for Disaster

Is your firm prepared for a disaster? From hurricanes to earthquakes to fire, disasters come in all forms and no business is immune from their wrath. Know the basics and protect your firm's resources. Have a plan. While you can't avoid a disaster, you can certainly be prepared in case one strikes. Ensure you have backup copies of firm records and a plan to recover them once the disaster is over. Consider offsite storage so you can get your hands on important data quickly. A recovery action plan can also help guide you and your employees. Get covered.
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Practice

Some Hints For Client Retention

You've heard the saying, "For every $5 dollars spent earning a new client it only takes $1 dollar to retain one." But what does that mean? It means it's smarter to keep the clients you've got happy (and sell more services to them) than to continue acquiring new clients to replace the old clients walking out the door. So, why do clients leave? Fortunately, they usually don't leave due to lack of technical proficiency.
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Practice Management

Recruiting in a Tight Labor Market - Work Smarter, Not Harder

Sure, you know the accounting labor market is tight, but everyone knows that, right? Right. But knowing this doesn't give you an advantage when many of your star candidates are talking with several of your competitors. Get a competitive edge by reviving your interviewing process.In this volatile labor market, it's not a matter of whom you want, but who wants you. How do you make your firm more attractive to new recruits? Surprisingly, it's very similar to the process you use to make your firm attractive to prospective clients. · Choose the right person or committee to interview.
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Practice Management

A Perfect Match: Employees and Incentives

Want to reward your employees and beef up their loyalty to you, too? Then consider personalized incentives instead of cash bonuses this year. According to a recent survey published in Benefits & Compensation Solutions (Norwalk, Conn; 203/855-5525), 29 percent of employees are using their hard-earned bonuses to pay bills. Nineteen percent say they can't remember what their bonus dollars bought.This all-too-common money exchange robs both you and your employees.
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Pages

Voice of the Editor

Results from a recent AICPA survey disclosed the two top priorities for CPA firms as they plan for the future: bringing in new business and finding talent. Our goal at Sift Media is to help our readers deal with the issues most important to them. One way in which we are doing this is through the launch of our new recruitment/placement service, Going Concern Jobs. Check it out today for your talent needs.
Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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