News is great, but sometimes you want to get beyond the headlines and really explore a topic. AccountingWEB's News In-Depth section offers readers the opportunity to dig into topics and issues in greater detail, beginning with "The Business of Powwow."

The intertribal or social powwow is a means of cultural preservation and public education that is nonetheless a business venture. "The Business of Powwow" explores the many dynamics that must be coordinated to produce a successful event. These dynamics include the needs of vendors, participants, visitors, sponsors, organizing committees and the community. It is a delicate balancing act, especially for urban intertribal gatherings.

Beyond these dynamics, the business of powwows also occurs on two different levels: the sacred and the more traditional "business" level. At the heart of the social powwow are cultural and spiritual events where "dancers dance, the drummers and singers recite songs, both ancient and contemporary, and ceremonies take place throughout the day." The powwow is also a place with vendors and visitors, who play a central role in the financial existence and success of the gathering.

"The intertribal powwow is a business, yes; but it is much more than that. It is an urban adaptation of a culture carefully guarded and preserved over millennia." For a closer look at "The Business of Powwow," Click Here.

"Why are accountants successful? It is a profoundly important question, especially in today's marketplace where accountants are among the ultimate knowledge workers, creating wealth for their customers from the ideas and intellectual capital they generate. Surely professionals are not successful because they sell hours, because no customer buys hours. Customers buy results, expectations, good feelings, solutions to problems, hope, dreams, a lifestyle, and a preferred vision of the future."

This quote from the Preface of "You are your Customer List" by Ronald J. Baker, summarizes why every accountant needs to read this white paper. Far more than just a argument against the billable hour, Baker explores the role of customer selection and retention in the overall success of the firm and offers suggestions on defining a firm's target audience. He concludes with a case study of O'Byrne and Kennedy LLP, a firm using Baker's ideas to show how they can be implemented in the everyday working world.

Ronald J. Baker is the founder of VeraSage Institute, a think tank dedicated to teaching Value Pricing to professionals around the world. He is also author of the best-selling marketing book written specifically for the accounting profession, "Professional's Guide to Value Pricing, Fifth Edition", published by Aspen Publishers, Inc., as well as "Burying the Billable Hour" and "Trashing the Timesheet", both published by ACCA. In April 2003, his most recent book, "The Firm of the Future: a Guide for Accountants, Lawyers, and Other Professional Services", co-authored with Paul Dunn, was published by John Wiley & Sons, Inc.

This white paper is available, Click Here

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