Successful accounting firms are always searching for new ways to improve their business and stay on the cutting edge of the accounting profession. Especially in our modern world, a business that is stagnant cannot keep up with the competition and provide up-to-date practices and new technology for their clients.
To assist your accounting firm and help you stay relevant, MoneyThumb would like to share the download link to a free PDF report from Boomer Consulting,
6 Secrets to Practice Management Success. Article for August BB
Download this free, eight-page report by clicking the link above.
Some of the issues the article addresses are:
- Making sure your accounting firm has the best Customer Management Software, (CMS)
- Charting your cost
- Using a project tracking system
- Digital solutions for easier and more efficient invoicing
- Document management systems and how to use effectively
- How proper documentation can make your practice more successful
This report is one of the best we've found on the specifics of practice management and how to optimize the systems you have in place and/or implement new ones to keep your accounting practice on the cutting edge.
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If you would also like advice on the practical side of running a successful accounting firm, this article by Marc Rosenberg is evergreen, meaning it has stood the test of time as an online article and is still just as relevant today. Great advice for your firm on the human and financial side of running your firm successfully. A few pieces of advice they offer are:
The 25 best practices of wildly successful CPA firms
"1. Proactive business-getting efforts; lots of team selling. The best accounting firms are active in practice development. Partners actively build their networks and nurture their referral sources. One managing partner told me that at his firm, "If a partner meets with a prospect alone, he gets shot." Team selling, rather than individual selling, is the norm at the best firms.
2. Exploit potential with existing clients. The better firms understand that their best source for new business is existing clients. They work hard to provide value-added services to their best clients, creating multiple "touch points" (key personnel from other service areas of the firm) with them. They never allow mass quantities of marginal clients to prevent them from focusing on their "A" clients.
3. Niche marketing and developing specialized expertise. Niches and specialties enable firms to press the accelerator. People prefer to hire experts in their field rather than generalists - and they are willing to pay a much higher price for that expertise. Exceptional firms focus their training and marketing on their specialties, rather than using the scatter gun approach.
4. World-class service. Providing world-class service is the ante to get into the poker game. Without a high level of service quality, clients may not stay with you, and they certainly will not refer others to your firm."
Using the article above and the PDF report in tandem, there is no reason you can't create the very best practice management plan for your firm and make it soar even higher!
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