INSIDE Public Accounting’s Post

Sharing your accounting firm’s mission can transform your culture. 👥💪🌟 How? We explain this in our newest blog. 👉 https://bit.ly/3W8DRBO Blog by Emily Frels. ✍️ #accountingandaccountants #culture #missionstatement

Accounting firms are continuing the trend of creating more and more non-equity partners. They get "the opportunity for more responsibility, more autonomy and more money", but without the ownership. So far, it's led to higher retention, more room to move up, and more space for additional customers. How do you feel about making someone a non-equity partner? What's the deciding factor in the equity portion? #partners #cpa #business

Accounting firms are continuing the trend of creating more and more non-equity partners. They get "the opportunity for more responsibility, more autonomy and more money", but without the ownership. So far, it's led to higher retention, more room to move up, and more space for additional customers. How do you feel about making someone a non-equity partner? What's the deciding factor in the equity portion? #partners #cpa #business

💡 Ensure your "partnership" is truly a partnership... 💡   PE is taking the accounting industry by storm. While strategic and financial aspects of a deal are critical, we know culture eats strategy for breakfast. 🥞 In his Forbes article, Tim Brackney outlines must-ask questions like: 1️⃣ How will you prioritize maintaining and integrating our firm’s culture with other acquired businesses? 2️⃣ What impact will our current employees see on their roles? 3️⃣ What employee retention and incentive programs will be put in place?    💚 At Springline Advisory, we believe firms can achieve sustainable growth while staying true to their people and culture. We call it "Scale with Soul." 💚 Dive into the full article here: https://lnkd.in/gHhAJk-j #Culture #ScalewithSoul #PeopleFirst #Accounting

How we as accountants can redefine our role.

Transforming from a traditional CPA firm to a forward-thinking advisory firm is not merely a change in services offered but a significant shift in mindset and operational strategy. The transition from CPA firm to advisory is about more than expanding services; it's about embracing a new identity that reflects the full breadth of your firm's capabilities and the depth of your commitment to clients' success. By leading your team through this change with enthusiasm, compassion and curiosity, you will help your team feel included and valued as the firm expands. https://hubs.li/Q02nnw9V0

What would an accounting firm look like if the founders had never been in public accounting? Nicole Davis, CPA and J W Davis didn't have to shed the mindsets that so many of us are still trying to shed, so their firm is built around creating a positive client experience and a healthy work-life balance for team members. My favorite takeaways: 🔥 If you want to work with clients who bring you joy, look for yellow and red flags in your discovery calls with prospects. Anyone who exhibits any of those warning signs is not a good fit. 🔥 Ask someone from outside of accounting to look at your firm. What we think is the norm for running a business isn’t the norm for all businesses in terms of taking care of clients or employees. https://lnkd.in/gYpF3jww

Is your accounting firm being held back by clunky, outdated processes? Don't accept chaos and burnout as the norm! In our latest blog post, we dive deep into why processes matter and the foundation for crafting processes that actually work: ⭐ Consistency across teams/clients ⭐ Clarity so anyone can follow along ⭐ Collaboration by involving your team You'll learn the subtle signs a process needs an overhaul and a 3-step method for successfully revamping it. We also share insights on cultivating a culture of continuous process improvement. Read now to start mastering processes that streamline operations and deliver amazing client service! #ClientService #FirmOperations #CPAFirms https://loom.ly/F-twVTc

When we talk about disruption in the accounting profession and the opportunities that it creates, this is what we mean. How do firms compete in the industry and remain profitable? I'm sure this deal will be a big shocker to many, but we are not surprised at all! Are you leaning towards maintaining independence or are you still uncertain about your next steps? We can set a time to discuss your current challenges and how we can assist. - Alisandy Abinader The Visionary Group 800-995-9186

[Growth] Embracing Growth: Strategic Insights from Accounting Today's 2024 Firm Growth Forum As industry leaders, we're always on the lookout for growth strategies that resonate with the evolving business landscape. The insights from Accounting Today's 2024 Firm Growth Forum are a testament to the multifaceted approach required for sustainable growth. One key takeaway is the strategic curation of clients. Opsahl Dawson's philosophy of choosing quality over quantity and inviting clients to succeed elsewhere if they don't align with the firm's direction is a bold move that has paid dividends. Another intriguing point is the concept of being 'overstaffed' as a growth strategy. While counterintuitive, especially during a staffing crisis, having extra capacity allows firms to take on new business without overburdening existing staff, fostering a healthier work environment. This aligns with the idea of building a firm culture where the leadership sets the tone, not just in words but in actions, as demonstrated by Al-Nesha Jones' implementation of four-day workweeks. Moreover, the emphasis on marketing muscle and transitioning from a transactional to a relationship-driven business model cannot be overstated. As the accounting profession evolves, firms that embrace advisory services and build strong client relationships are the ones that thrive. It's a clear indicator that the future of accounting lies beyond traditional services, and firms must adapt to deliver high-value, noncommoditized advisory services that clients seek. Lastly, the shift from selling hours to selling transformations is a paradigm shift that all service-oriented businesses, including ours at DealCoach.io should take note of. It's about delivering outcomes and value, not just tasks. This approach is at the core of what we do—helping companies accelerate growth and close deals faster through strategic deal management, pipeline management, and forecasting. These lessons from the accounting realm are universally applicable and underscore the importance of innovation, client-centricity, and forward-thinking in driving growth. #GrowthStrategy #ClientCentricity #Innovation #BusinessDevelopment https://lnkd.in/eqDknd9D