Practice Management

Practice Management

Would Clients Notice If You Dropped Dead Today?

A morbid topic? Not really. Even so, I am reminded that one of my friends once told me that the number of people who turn up to your funeral is directly proportional to the state of the weather on the day. Not really a comforting thought is it?But seriously, would your client notice if you had expired, if you had gone to meet your maker or if you received a call from The Man Upstairs this morning?Truth is, they probably would.
Practice Management

Avoiding the Pitfalls of Web Site Development

Because I have helped develop a couple of Web sites – one large in scale and the other pretty small – I have a sense of how frustrating and confusing Web site development can be. Not only are you working with another "language," but the variables are unlimited and the costs can be, too. Web developers can charge anywhere from $500 to hundreds of thousands of dollars to build your Web site. Use these ideas to make your next Web site development project run smoothly.The key to Web site development is planning.
Practice Management

Financial Services Help Available From Trusted Source

Public accounting firms looking for insider tips and advice for expanding their financial services offerings need look no further. Trusted accounting publisher, Strafford Publications has launched a new publication that will help CPAs diversifying into new financial services areas.The authoritative, monthly intelligence briefing offers proven, profitable strategies for its readers.
A&A

Tips for Selling to Women Business Owners

Gerry Myers, President of the Myers Group, a consulting firm specializing in women owned businesses, led a discussion in this week's AccountingWEB Workshop on tips for selling to women owned businesses.Some interesting ideas and trends that she provided about selling to women should be reviewed carefully:90% of all women will be responsible for managing their own finances at some point in their lives.Given their traditional investing and savings patterns, women retiring in the next 20 years
Practice Management

Fraud Costs Companies $400 Billion Annually

Many CPAs and accounting professionals have discovered a lucrative business by specializing in fraud, and are extremely familiar with this tremendous drain on resoruces, but did you know that fraud costs North American companies more than $400 billion annually?And that's just the beginning. Putting the monetary loss aside, fraud takes its toll on other aspects of company operations, like employee morale and long-term growth.
Practice Management

Focus Your Firm With Client Advisory Boards

Ryan Travis, a a professional development consultant with Results Accountants Systems, led an online workshop today focusing on the benefits of a client advisory board in helping to steer your organization to success.A Client Advisory Board, or CAB, is a focus group of sorts, made up of 6-12 of your "A" list clients, whom you invite for 2-3 hours to a session, facilitated by someone outside your firm, in which they are asked to comment
Technology

Just $260K to Corner The Market on Online Tax Prep

Is having the right domain name the key to success in online tax preparation?If you think the answer is "yes," and if you're willing to invest at least $260,000, then at this time next week you might be well on your way to cornering the market for online tax preparation services.How?The domain name WWW.TAXES.COM is being auctioned off this week by domain name broker GreatDomains.com.According to the promotion:"In the area of taxes, no other name confers the instant credibility and recognition rep
Practice Management

Low-Cost Ways to Publicize Your Web site

Almost every firm and organization has some kind of Web site on the Internet, but how are you publicizing the site to build momentum and find visitors?It's been proven that telling others about your site doesn't have to cost a lot of money - in fact, it can be done quite inexpensively depending on your needs.Try these tips: Register the site with well-known search engines, such as Yahoo! and Excite.
Practice Management

CPA Advice Leads to Growth

Stephen Gibson is an entrepreneur-in-residence at Brigham Young University, and has published a column with his reflections of simple, yet solid, advice he gained from his CPA of 26 years.CPAs may want to review his list for a glimpse into what a few simple ideas means to him.
Practice

Outsourcing HR Functions - It's Time to try it!

Small- and medium-sized CPA firms should know that, in many cases, their employees can receive the same benefits afforded to the large firms because of a group buying effort through outsourced HR resources.Outsourcing the HR function is nothing new; firms like ADP have provided services for some time in this market known as the "Professional Employee Organization (PEO).However, sometimes a wake-up call is inorder.
Practice Management

California CPA Society Insurance Company Grows

CAMICO, the professional liability insurance company owned and operated by the California Society of CPAs, will begin managing the liability insurance offered by DPIC as of January 1.CAMICO is based in Redwood City, CA, and administers insurance products not only for members of the state society, but for other state societies as well.
Practice

Focus Your Efforts For Results

Do you know that old tradition of meeting with bankers and other "referral" sources? Or maybe you have participated in many of the "happy hours" designed to get people talking and referring business. The question, though, is how much business did you really get from the event?Many firms participate in referral activities, however, the results are often sketchy. Ask yourselves about the last one you attended. How many referrals did it actually yield? Often, people will say that it increased the potential for referrals in the future.
Practice Management

News You Can Use

It’s a competitive market out there. With consolidators gobbling up firms and others hiring salespeople to sell services, it’s important to keep an edge on competition. Soliciting feedback can help. It might even point you in a strategic direction that’s best for your firm.When clients are dissatisfied, they usually won’t complain to you; they will simply leave. What’s more is that when that person leaves, they take 250 contacts with them (this is the average number of people each person knows).
Practice Management

Four Easy Steps to Better Firm/Company Newsletters

How long has it been since you've taken a good look at your firm or company newsletter? Even if you don't write it in-house and buy it from a trusted source, you'll want to make sure your newsletter is a good reflection of your firm or company and truly maintains a long-lasting relationship with your clients and customers.First, set objectives for your newsletter - what are you trying to accomplish? Are you trying to improve networking, communicate information in print rather than in person or e-mail ... or something entirely different?
Practice Management

Business Card Manager

I’m running, not walking, to the nearest store so I can check out the latest tool I found. The new specialized scanner and software combo, the Corex CardScan Executive, Version 5.0 ($250), is designed to help me put all the business cards I collect into electronic format. A quick calculation of the time involved to enter business cards tells me this is going to be well worth the green.The CardScan 500 scanner has a convenient tray for catching scanned cards and the companion software, CardScan 5.0, now better recognizes international business cards.
Practice Management

Candidates Prefer Dot Com Companies Over Firms

Finding qualified employees is getting tougher and tougher, thanks to the rash of online companies. Job candidates are literally lining up to work for high-tech companies with concerns on the Internet and avoiding the brick & mortar routine.What does this mean to CPA firms and companies hiring CPAs? More accounting professionals, especially risk-takers in the younger ages, will go to work for online companies rather than firms.The result?
Practice Management

Knowledge Management Works

How are world-class companies saving millions and improving systems? They are harnessing the power of knowledge management systems specifically designed to directly contribute to larger corporate goals, according to Best Practices, LLC’s report, “Knowledge Management of Internal Best Practices.The report cites a leading chemical manufacturer that uses a systematic approach to ensure that knowledge management supports corporate strategy as an example.
Practice Management

Tips for Timely Collections

Most of us would rather buy a new car or go to the dentist than deal with overdue collections. Although we are numbers-oriented, we fall flat when it comes to taking the initiative to collect what's due.The trick is to act fast. For example, if a receivable is just one day overdue, call immediately to find out if something went wrong. There may be a very good reason, or the sender may indeed be tardy for no good reason.Still, acting quickly will jog the sender's memory and should help with collections.
A&A

'Tis the Season to Ship - Who's the Cheapest?

In this supersonic age of getting it there on time with few moments to spare, which of the mailing services is the most economical?Kiplinger.com decided to test the waters by sending a 10- pound fruitcake across the United States. They surveyed various overnight carriers as well as the U.S. Postal Service.The results? They found that the service was mostly the same around the country, but found that the U.S.
Practice Management

Virtual Assistants Perform Tasks Efficiently

If you're business is like most businesses, the secretarial or administrative assistant pool is one big revolving door. People agree to work, but support positions at the bottom rung of the ladder are merely stepping stones to other positions in the company or to another company entirely.There also is the matter of training every new person that takes the job.How about forming a relationship with a virtual assistant?

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