What I've Learned So Far

Emily Alexandria Burns: 2011 Rookie of the Year

2011-08-23T14:12:00.008-04:00

Emily Alexandria Burns, e-Marketing and Communications Specialist at Freed Maxick & Battaglia CPAs in Buffalo, New York was awarded the 2011 Association for Accounting Marketing Rookie of the Year Award at the Annual Summit in Chicago, Illinois.

Emily has been with Freed Maxick & Battaglia for the past one and a half years. She comes to them after working in the PR departments of several beauty and fashion companies including Avon Products, Christian Dior Couture, Giorgio Armani and Jones Apparel Group where Emily immersed herself within the women’s apparel accessories and beauty markets, including learning strategic PR tactics. Emily’s education is from the Fashion Institute of Technology. This is another interesting background for someone who winds up in accounting marketing. Emily’s last position in New York City was corporate communications manager for ID Media, the largest direct response and digital media services company in the United States. Emily became familiar with the latest media tactics in DRTV online and emerging media. She also helped increase the company’s awareness within the industry and generated a substantial boost in press coverage in national advertising and media trade publications. Then, Emily found her way back to Buffalo and to Freed Maxick & Battaglia and to the Association for Accounting Marketing. Emily, welcome, and how does it feel to be Rookie of the Year?

Emily Burns: It feels awesome. It is so surprising because I was up against so many quality nominees and, at the end of the day, I just feel so incredibly rewarded. It’s such an honour to get that from my peers within the accounting marketing industry. It makes me feel like after this last year and a half I have done a good job and I’m very proud of that. So it makes me feel great.

Jean Caragher: Well, you should be proud of that because I know you and your team are doing a fabulous job for your firm. What factors do you think enable you to be successful at your firm?

Emily Burns: Well, first and foremost, I have a phenomenal mentor in my manager, Eric Majchrzak. He’s fairly well-known within the accounting marketing industry – does a lot of interviews and sits on panels and takes part in discussion groups and so forth. He’s been a big part in encouraging me and driving me to use the education and the talents that I have here at Freed Maxick, always willing to listen to new ideas and get me excited about doing the job that I do. He really trusts me to take the lead on a lot of our projects and initiatives because he knows that I have that creativity. He knows that I have the ability and the experience to do it. Having somebody who really trusts you to do things correctly and execute really big programs and strategies, it makes you feel good. It makes you want to do well. Also, of course, the directors here are really supportive and they certainly recognize the value and the quality of having good marketing and public relations. I think they also really value all of the marketing team members.

Jean Caragher: I imagine that that is just part of your culture because, as we know, not all CPAs embrace marketing. But if you have a marketing culture, that must help the relationship between the marketers and the partners and your ability to be creative and to implement new ideas.

Emily Burns: I definitely think so. One of the most important things for us to do is show value, especially when a lot of the directors or professional staff may not completely understand what it is that we do. When we’re able to show value or show that something worked or show that there were positive results, and it’s not always being able to quantify it by saying that we gained new business, but perhaps it’s just telling the story of a new relationship that was created or a great press opportunity. When we’re able to show our value that definitely helps them be very supportive of us.

Jean Caragher: Do you report that value on a regular basis? How do you inform them about what’s going on in marketing?

Emily Burns: Oh, I definitely take my past experience working for ID Media as a corporate communications manager and publicizing all of the great things that we do, all of the success that we’ve had, the positive things that we’ve done in the community or with different campaigns internally so that people are kept up to date and know what we’re up to. So that’s maybe an e-mail blast that goes out to all of our three offices or maybe a great press release is posted on our internet. Maybe it’s just sitting in one of our update meetings and talking about something exciting that happened or something positive that we saw come out of a campaign. Keeping everybody informed as to what we’re up to so that they know and so that, perhaps, if somebody asks them about something that they saw, they can speak intelligently about it and know a little bit about what the marketing department is doing.

Jean Caragher: What is your most surprising discovery about accounting marketing? You come from the fashion industry. You come from a media company in New York City. What’s been the most surprising thing?

Emily Burns: I think the most surprising thing is that here at our firm the culture is very accepting of new technology and trying new things, thinking outside of the box, being creative. I really never would have expected that. And, again, I think that comes a lot with showing value and having the people within our department in places that are very, very good at what they do. I never really would have expected a CPA firm to be into mobile or into social networking or open to doing things very creatively. When I first got into it, just looking around, I saw a lot of the same things. So that was very surprising to me here and I think that’s probably why I’m really enjoying what I’m doing because it is that very positive culture here.

Jean Caragher: What intrigued you about interviewing at a CPA firm?

Emily Burns: Well, to be honest, I didn’t. It was one of those situations where I was a passive jobseeker. Before this position with Freed Maxick I worked with our local Chamber of Commerce organization. That organization, of course, supports all of the businesses regionally here in Buffalo Niagara, advocates for them in Albany and does a lot of professional development networking type things, as well. I had a relationship with Freed Maxick as one of the members of the organization. It so happened that they were looking for somebody that needed to have a unique blend of both very traditional marketing experience, a bit of public relations, somebody who is aware of social media tools and how to use them effectively within the business environment. I was just interested to see what they had to say, what the opportunity was going to look like and what they were looking for somebody to do here. Being intrigued with it and wanting to see what the opportunity was exactly brought me in.

Jean Caragher: Well, Eric tells me that when you interviewed, you actually interviewed him more than he interviewed you. Is that true?

Emily Burns: I probably did. I lived down in New York for a long time and I spent most of my adult life there, all of my friendships were there and it was very, very scary for me to move back to Buffalo because I was leaving everybody that I knew, and, yes, I was coming back home to my family and what was comfortable, but I was very scared because the job market here is quite different than it is in a large city. I was afraid that maybe I would come back and I would not have that job security, or I wouldn’t like what I was doing and would be limited to what I could do. I think that’s probably why I was asking so many questions, because I wanted to make sure that it was something that I was going to like. I was going to be able to do well. I was going to have some job security because making that big life change for me was a huge, big deal. And luckily everything has, so far, worked out very well.

Jean Caragher: It sounds like it is. What is your biggest challenge in what you do now?

Emily Burns: I think the biggest challenge is staying on top of what’s new and what tools are out there. I think that we have done such a great job positioning ourselves as thought leaders within the industry. However, that really puts the onus on us to continue to be aware of what’s available, whatever tools are new, how we can implement them here internally; doing a lot of reading, participating in different events, talking to people outside of our industry to see what they’re doing as well. I think that’s a big challenge because we want to stay ahead of the curve and we want to continue to be thought leaders but that really means that we need to put ourselves out there to learn and see what’s going on.

Jean Caragher: There is so much information out there now, isn’t there? It’s nearly impossible to keep up. So as the 2011 AAM Rookie of the Year, what is your best piece of advice for accounting marketers?

Emily Burns: Exploring professional development opportunities are really important. I’m really lucky here that if I see something, whether it be an industry or trade group or maybe a class I want to take, I voice that. I’m allowed to go and really explore professional development opportunities. And AAM, of course, is an amazing place to start – the people that you meet, the discussions that you have, all the different things that are available are very, very helpful. I’m also suggesting PRSA, which is the Public Relations Society of America. There are local chapters everywhere. Your area might have a young professionals group which, for me, I’m involved in one here in Buffalo and that’s extremely helpful and fun. Your local Chamber of Commerce perhaps has networking opportunities that would be really great. Here in Buffalo we are very, very active in our social media club and there are a lot of really cool, innovative, creative people that inspire us to do really neat things. So exploring professional development is key. Going along with that, never be afraid to ask for help in your professional development whether it be continuing your education or attending a networking event. If you don’t ask, you might not get to do something or you might miss out on an opportunity. So I think it never hurts to ask so that you want to show that you are willing to keep learning and developing. And you want to really prove your value within your firm or your department. Again, staying abreast of what’s going on – what’s new, what’s cool, what’s hip, who’s finding success using different tools – whether they’re in our industry or not, I think it’s always interesting to see what other people are up to and how you can potentially translate it to what you do. So I, for instance, read a ton of different blogs and websites. I’m always checking out ad campaigns, just seeing what everybody else is up to so I can get creative with how I market here with our firm. Figure out how I can apply it to what we do. So never stop learning. That’s probably the most important thing. Keep learning, improving your skills, stay fresh. Those are all big buzz words but, I think, would be my best advice.

Jean Caragher: Emily, you are one of the new faces of AAM. Congratulations again on being named the AAM 2011 Rookie of the Year. Thanks for your time today for the Capstone Conversation.

Emily Burns: Thank you very much for having me.

So You’ve Decided on a Niche Practice … Now What?

2011-08-16T17:32:00.000-04:00

Today's CPA Insider included an excerpt from my chapter in Bull’s Eye!: The Ultimate How-to Marketing Guide for CPAs. Eight best practice tips on implementing a strategic marketing plan are revealed.

You can purchase Bull's Eye! on CPA2Biz.com.

Raissa Evans: 2011 Marketer of the Year

2011-08-04T11:11:00.000-04:00

Raissa Evans, the Executive Manager of Practice Growth at PKF Texas, was honoured as the 2011 Marketer of the Year at the Association for Accounting Marketing Summit in Chicago, Illinois. The Marketer of the Year is an award sponsored by CPA Practice Management Forum.

As the Executive Manager of Practice Growth at PKF Texas Raissa oversees the marketing efforts of the firm with a focus on executing initiatives to align with the firm strategy. This includes project management, campaign development and tracking, niche practice development, budgeting, event marketing, media relations, research, technology directive and pipeline management. Raissa is also the champion of the firm’s digital strategy. She has led three website redesigns plus the first accounting technology blog FromGregsHead.com and launched m.pkftexas.com, PKF Texas’ first mobile web platform which is also an industry first and Raissa trains firm leadership on social media tools and writes for the firm’s Twitter account @pkftexas.

Jean Caragher: Raissa, I know you’ve been with PKF Texas now for over eight and half years. What do you feel is the greatest challenge for marketing CPA firms?

Raissa: Thinking back over the history and being with the firm and what I know about accounting marketing, I think the challenge remains pretty consistent, and that is staying ahead. And marketers throughout other industries feel that kind of pressure, as well. The world is changing; it’s a lot more international than its ever been. People are connected 24/7 in all time zones. And there’s this great struggle for the mind share of the target audience that you’re trying to reach. The world’s very noisy and it’s hard to get your message through.

Jean Caragher: In your time in accounting marketing, what are the biggest changes that you’ve seen?

Raissa: I think that everything is speeding up. There are studies out there of how much more information that we’re receiving these days than we ever have been. The international business growth certainly changes things a lot. Even local firms now need that sort of talent in-house to be able to address international issues from inbound and outbound companies. Marketers themselves seem to be better received in our industry. You’ll see a lot more marketers being promoted, sometimes even to partners although that’s still in the handful that you could count. Accounting firms of all sizes are now building marketing teams, something that’s been unusual in past years. A lot of marketers were lone-wolves and now they’ve actually grown to be at least small teams for most middle market firms, at least.

Jean Caragher: Why do you think firms are more opened to having a team of marketers?

Raissa: Accounting marketing is such a new industry; it only dates back to 1977 as you know with the Bates Law. I think that if you look at other marketing industries or other marketers within other industries, especially B-to-C, well number one they’re older but number two they’re able to take a lot more risks and change things a lot faster. We are pretty unique in that, not only is that a conservative industry, highly regulated and it’s just as old as some other industries. The funny thing is that it’s catching up so quickly. Marketers in our industry are learning from outside industries. They’re taking the best practices from those industries. They’re experimenting with tools and edgier campaigns and they understand the importance of aggregating and trading information for their audiences. And so, it’s really startling to see how fast we’re catching up.

Jean Caragher: What factors or skills do you feel enable accounting marketers to be successful?

Raissa: It’s funny; there was a speaker a couple of years back at a (AAM) Summit, Dan Pink. I am a big fan of his. His most recent book is Drive and that’s about what motivates people to make decisions, things like that. Before that he had a book about right brain thinking, and about how the only thing that you really can’t commoditize or outsource is creativity and initiative. I think a lot of that is ingrained into a successful marketer’s DNA, to continually push to do something a little bit more exciting, do something a little bit edgier, to get the buy-in that fits into their culture. Also, these technology and social media tools have really expanded what we’re able to do because these things, although they take quite a bit of firm bandwidth, can be done on shoe string budgets. Now, I’m not the kind of marketer that would ever say social media technology is free; of course it’s not free. It drives me crazy when someone says that because time isn’t free, but it’s certainly scalable, it can be done on all different scales and certainly done by anything from a marketing team to single marketers. That really makes it flexible in achieving some of these goals in our firms.

Jean Caragher: Which of your personal skills has contributed most to your success?

Raissa: That’s a great question. Well, I’m also identified as a leader in social media and emerging technology, those movements, and my firm has certainly been instrumental in helping launch the first accounting technology blog, what we think is the first mobile website in the industry and, in fact, we just launched our second one the week before AAM, so we now have two mobile websites launched. I’m one of the first accounting marketers to begin tweeting heavily, and things like that. Those tools certainly helped me but I think one of the ways that they helped me the most is in building relationships on a one-on-one level. The resourcefulness involves in staying ahead of the tools that will help us be more efficient and achieve our goals along with building those relationships that do the exact same thing. The tenacity in those things, not only taking innate resourcefulness but partnering that with the tenacity and fitting into my culture here where I can approach my champions like Karen Love and Kenneth Guidry, with these sort of out-of-the-box ideas. Then, engraving that into our cultural without being intrusive to the processes and ideas that are already flying within the firm, I think that’s been instrumental.

Jean Caragher: Speak another minute about that culture of PKF Texas, and you mentioned Karen and Kenneth, speak to your culture and how that’s contributed to your success.

Raissa: It’s been really great to have a number of champions here. I’ll start with Karen. Karen Love interviewed me and from day one was inspiring to me. Her drive and her career successes to that point and, you know, she’s come even further over the last nine years. She’s always been an inspiration to me and she personally took me under her wing and mentored me. I had about four years of marketing experience coming into the firm but she certainly groomed the way I think in a professional services capacity. In the support in the team building skill that she has, in surrounding herself with folks who have different skills that somewhat she has, made it very comfortable to not only be heard but also to bring my own talents and skills, and not feel any sort of competitiveness that some teams feel and certainly made us all be working towards the same goal instead of working in any kind of competitive atmosphere. When we added Jen Lemanski it only helped to heighten what we’re able to do. She’s a writer and helps update our website and manages the blog on a day-to-day basis. It’s been a really great culture. At the same time even as early as when I came into the firm in 2003 and beyond, this firm had won the Best Places to Work in Houston. That’s actually how I found the firm. I had left a previous position in a technology firm and I wanted to seek out a culture that cared as much about their people as they did about their clients. At PKF Texas we say that we have internal and external clients and I was really seeking out that culture. Accounting wasn’t even on my radar screen but I went down the list of best places to work and found PKF Texas through a relationship that I had made several years before who just happened to be a very close friend of Karen Love. That’s how I found the firm. I said two to three weeks into the job that I had found my dream job. It was everything I wanted to do in marketing and almost nine years later I could still say that today and that’s really saying something.

Jean Caragher: Wonderful. Well, I’m glad for the day that they found you, as well, because you’re a wonderful addition to our accounting marketing world.

Raissa: Thank you so much.

Jean Caragher: What is your best piece of advice for accounting marketers?

Raissa: I think it goes off of how I found PKF Texas and that is, find a way to stay inspired. Figure out what it is that energizes you and then do what you love. I think it’s twofold, one is discovering what your strengths are and where your inspirations come from, and then second is finding the right champion that’s going to believe in you and support you in doing what you love, because if you’re in the right culture not only can you do what you love but you can stop to celebrate the successes along the way. It’s a really inspiring, great feeling and will keep challenging your career to reach new milestones.

Jean Caragher: What is your best piece of advice for managing partners?

Raissa: The opposite is also true. Hire someone that you believe in and that you will make a part of your strategic team. Value and understand the role that they play and the business intelligence that they can bring. Give them a sit at the table, so that they can really contribute to not only bottom line revenue but also the firm culture that will be instilled into each new talent that you add to the team. Part of that, too, is creating a culture that attracts the best talent that you can find in your marketplace because without true talent to offer to the marketplace, then a marketer doesn’t have very much that they can market from a firm. They’ve got to choose their firm wisely and make sure it’s a “product” that they believe in and also can help shape it while they’re there.

Jean Caragher: So, it’s really more of a big picture here. It’s not simply for managing partners to appreciate the value of marketing and perhaps making that decision to hire a professional marketer or add to their marketing team. It’s that culture and the confidence that needs to placed in the market for them to be successful. Would you agree with that?

Raissa: Absolutely, because a marketer doesn’t operate in this vacuum of pulling business out of a hat. They’ve got to have each team member in a firm be an ambassador for marketing and practice growth. It can’t be done by a single person or even by a sales team; it’s got to be engrained in everybody to provide what the marketplace needs.

Jean Caragher: My last question, put on prediction hat to see into the future. What is your prediction for accounting marketing for the next five years?

Raissa: I think that things are always going to change; I think that anybody that tries to say that they can foresee what’s going to happen over any five year period will always be surprised. I think the important thing to know is to be nimble. Part of that is that things are going to be driven more and more by client preferences. People are going to determine whether it’s through tools or through attention span what reaches them. Marketing is going to need to be engrained into the different culture because everything is going to need to be on the same page, and the talent, the culture is going have to be driven by what the marketplace desires and what changes with them. Everything’s going to need to be micro targeted, so that the message is very clear for the recipient in order for it to reach the recipient. I think also, even local firms are going to need to have international capabilities. Almost every business these days has some capacity of international work involved, and even the smaller firms are going to have to be able to provide that. On a truly positive note accounting marketers are beginning to be seen, and will continue to even elevate more, as thought leaders, and they’ll write and speak from that position because we really have a unique insight into business as a whole. That’s one thing that’s really great about the accounting industry itself is that it always deals with the C-level professional and gets down deep into business processes and financials and all of these other things that are so basic to business, that we can provide a lot more thought leadership than we’re being used for today.

Living Life at Performance Level

2011-06-23T11:25:00.008-04:00

If you are looking for advice on how to achieve change and growth in your life watch this video. Curtis Zimmerman of the Curtis Zimmerman Group was the keynote speaker at this year's AICPA Practitioners Symposium and TECH+ Conference. His message was positive and uplifting, "If you want to grow don't be afraid to pick one thing to incorporate each week to make your life better."

4 Keys to Winning Today’s Competitive Battle

2011-06-13T19:03:00.005-04:00

At your firm, who’s the chief change officer?

By Jean Caragher and Rick Telberg

Organizations with strong learning cultures have 37 percent greater employee productivity, are 32 percent more likely to be first to market and are 17 percent more likely to be market leaders in their segment, according to Bersin & Associates’ 2010 study High Impact Learning Culture. The same research shows that most companies do not understand this area well, despite the opportunity to drive tremendous performance improvements with almost no additional expense.

Among accounting firms, less than 1 in 4 CPAs say they get the training they need, according research conducted for the Seven Keys to Successful CPA Firm Management.

Continued at AccountingWEB here…

Discount for 2011 Practitioners Symposium & TECH+ Conference

2011-05-20T13:18:00.003-04:00

What I've learned so far is that networking with peers is an excellent opportunity to learn and share resources. I am pleased to offer you the discount code TAC to receive $100 off registration to this year's Practitioners Symposium & TECH+ Conference, June 13-15, at the Aria in Las Vegas.

While you're there check out Session #55 on Tuesday, June 14, 2:00-3:15 p.m. I will be presenting, "Client Retention Strategies Every Firm Can Use." Based upon research conducted for The SevenKeys to Successful CPA Firm Management and real life experiences this session will focus on:

How clients choose

Why clients change CPA firms

How extraordinary client service can pay off in client retention

Practical initiatives that you can execute to contribute towards client retention

What you can learn from client service superstars

How to build a winning client retention program at your firm

See you in Vegas!

11 Clues a Client is a Loser and 4 Keys to Finding a Winner

2011-05-15T12:38:00.001-04:00

Every CPA firm has clients who are no longer a good fit – clients with little growth potential, clients who are slow to pay, clients who treat CPAs poorly. Bad clients have an impact on profits, productivity, and staffing. The leading firms are doing something about this. Our research shows that SevenKeys Leaders are nearly three times more likely than SevenKeys Laggards to fire clients that don’t fit their target.

Firing clients is an effective way to manage growth and profitability. Evaluate clients on a variety of criteria including:

1. Fee
2. Realization
3. Ability to pay
4. Year-end
5. Opportunities to cross-sell
6. Growth potential
7. Risk
8. Leads received (or expected) from client
9. Does the client enable our firm to establish or build a niche?
10. Does the client need our firm’s expertise?
11. Can our firm still serve the client to the best of its ability?

Then determine whether you can increase the fee or refer the client to another firm. Firms that implement this process on an annual basis are more profitable, focus on their best clients, and have a happier staff.

Yet most firms are more likely to accept inappropriate clients and fire them in the future than they are not to accept them in the first place. A formal client acceptance process, utilizing the criteria listed above, would help prevent clients from passing through the revolving door.

Establish client acceptance criteria. Assign a gatekeeper, your firm’s marketing professional, for example, who will track the types of opportunities partners are working on by asking strategic questions:
1. Does an engagement support a particular niche within the firm?
2. Are there opportunities for cross selling?
3. Does the client have a good payment history?
4. Could we fire an inappropriate client and take on one that is a better fit for the firm?

Do not inform clients that they are being “fired” by mail. Depending upon the length of time they have been a client or fees paid consider a face-to-face meeting or a telephone call. This also gives you the opportunity to remedy the situation and keep the client.

This topic and other essential topics like it will be part of The 2011 SevenKeys CPA two-hour online strategic planning workshop May 19. We'll be using the exclusive, data-driven SevenKeys CPA tools to help a select number of attendees run a firmwide self-assessment and develop high-leverage strategies for success.

For more about the Seven Keys to Successful CPA Firm Management, download the executive summary (PDF, 11 pages) at http://sevenkeyscpa.com/exec. Copyright 2011 Seven Keys CPA. All rights reserved.

Align Learning With Firm Strategy

2010-11-10T12:03:00.005-05:00

For the third year in a row PwC was rated #1 on the Training Top 125 list. Next year the firm will join Deloitte and Ernst & Young in the Training Hall of Fame. While local CPA firms cannot rival the resources and training/learning budgets of the Big 4 there are lessons to be learned about how your firm can become a learning organization. Most importantly, align learning with your firm's strategy. Tom Evans, PwC's Chief Learning Officer, when asked about the future of learning at PwC, said, "… much of our investment will be in training that focuses on business acumen; pursuit management; effective client interactions and communication; and building high-value, trust-based relationships – in other words, training that is linked to enabling our partners, managers, and people to grow the business.”

Learn more by attending the Seven Keys CPA webinar, "Building a Learning Organization:The Keys to Becoming More Agile, Adaptable and Nimble for Competitive Success in 2011:"

November 11, 2010
1:00-2:00 p.m. Eastern
$89 per connection
Register today!

Creating Persuasive Business Proposals

2010-10-14T10:36:00.003-04:00

Competition is more fierce than ever. CPAs need to learn how to compete on value rather than price. How do you create a persuasive business proposal to help you win new business?

Get the answers by attending this Capstone Sales Series webinar, presented by Tom Sant. Tom is the author of the best-selling Persuasive Business Proposals and has been called “America’s foremost practitioner of proposal writing." He was also named one of the top 10 sales trainers in the world by Selling Power magazine. In his session, he will explain and illustrate:

• The difference between information and persuasion.
• The seven vital questions you must answer to create a client-centered proposal.
• How to differentiate your services in a commoditized market.
• How to create a compelling value proposition.
• Effective ways to follow up your proposal to win the business.

For a preview of the wisdom Tom will share during this webinar check out the CPA Insider article Three Ways to Win More New Business.

Register for the Creating Persuasive Business Proposals webinar today!

2010 Best Accounting Firms to Work For

2010-10-13T08:55:00.002-04:00

Congratulations to the 100 accounting firms that have been honored as the 2010 Best Accounting Firms to Work For in the third annual program created by Accounting Today and Best Companies Group. Recent dialogue and posts have questioned the importance of creating a great place to work. These firms, listed in alphabetical order, recognize the value in retaining employees and creating a culture where employees can thrive. Nice job!

Anchin Block & Anchin LLP
Anglin Reichmann Snellgrove & Armstrong
Anton Collins Mitchell LLP
Averett Warmus Durkee
Bader Martin, P.S.
Baker Newman Noyes
Barfield, Murphy, Shank & Smith, PC
Bartlett, Pringle & Wolf, LLP
Bartolomei Pucciarelli, LLC
BeachFleischman PC
Berlin, Ramos & Company, P.A.
Berntson Porter & Company, PLLC
Biscotti, Toback & Company, CPA's, P.C.
Blue & Co., LLC
Bond Beebe Accountants and Advisors
Boyer & Ritter, CPAs and Consultants
Brown Schultz Sheridan & Fritz
Brown Smith Wallace LLC
Burr Pilger Mayer, Inc.
Citrin Cooperman
Clark Nuber
Cohen & Company
Coulter & Justus, P.C.
Covenant Consulting Group LLC
Cowan Bolduc Doherty LLC
Daszkal Bolton LLP
Deemer Dana & Froehle LLP
DeLeon & Stang CPAs & Advisors
DiSanto, Priest & Co.
Dixon Hughes PLLC
Dunton & Associates, LLC
E. Cohen and Company, CPAs
Edelstein & Company LLP
Ennis Pellum & Associates, CPAs
Fesnak and Associates LLP
Fulcrum Inquiry
GALLINA LLP
Ganze & Company
Garcia, Espinosa, Miyares, & Co. LLP
GBH CPAs, PC
Hancock Askew & Co., LLP
Hemming Morse, Inc.
Hertzbach & Company, P.A.
Homes, Lowry, Horn & Johnson, Ltd.
Howard, Wershbale & Co.
Hoyman Dobson
Hughes Pittman & Gupton, LLP
Hungerford, Aldrin, Nichols & Carter, PC
Isdaner & Company, LLC
Johanson & Yau Accountancy Corporation
Johnson Jacobson Wilcox
Kahn, Litwin, Renza & Co., Ltd.
KatzAbosch
Kaufman, Rossin & Co.
Kearney & Company
Kolb+Co. SC
KraftCPAs PLLC
Kreinces Rollins & Shanker, LLC
Lanigan, Ryan, Malcolm & Doyle, P.C.
LaPorte Sehrt Romig Hand
Layton Layton & Tobler LLP
LMGW Certified Public Accountants, LLP
Lumsden & McCormick, LLP
Mahoney Ulbrich Christiansen & Russ PA
Mark Bailey & Company
Martin Starnes & Associates, CPAs, P.A.
May & Company, LLP
Montgomery Coscia Greilich LLP
Onisko & Scholz, LLP Certified Public Accountants
Pannell Kerr Forster of Texas, P.C.
Payne, Nickles & Company
Pender Newkirk & Company
Petrinovich Pugh & Co, LLP
Pittman & Brooks, P.C.
Porter Keadle Moore, LLP
PSK LLP
RBZ, LLP
RINA Accountancy Corporation
Riney Hancock CPAs PSC
Rodman & Rodman, P.C.
Sample and Bailey CPAs
SGA GROUP, PC
Sikich LLP
SingerLewak
Sisterson & Co. LLP
Smith Leonard PLLC
Squire
Swindoll, Janzen, Hawk & Loyd, LLC
The Bonadio Group
The Whitlock Company
ThomasYork, LLP
Wall, Einhorn & Chernitzer, P.C.
Walter & Shuffain, P.C.
Wessel & Company
WhippleWood CPAs, P.C.
Whitley Penn LLP
Wilkin & Guttenplan, P.C.
Williams Benator & Libby, LLP
Windham Brannon
WithumSmith+Brown, PC

Four Approaches to Gaining Access to the C Suite

2010-10-06T15:58:00.002-04:00

In today’s Capstone Sales Series webinar, Selling to the C Suite, Steve Bistritz reviewed four approaches to gain access to executives:

Implement an overt approach via the telephone or using a phone call, preceded by an email or letter.

Use a credible sponsor within the customer’s organization to help secure access.

Use a referral (someone outside the customer’s organization), such as a consultant, business associate or friend.

Treat the gatekeeper (administrative assistant, secretary or the like) as a resource and use them to help secure access.

Which of these approaches is the most effective? Bistritz’s research with corporate executives reveals that when considering a major purchase executives are Always (16%) and Usually (68%) likely to schedule a meeting with a salesperson if the request came from a recommendation from someone inside their company and Always (8%) and Usually (36%) likely to schedule that meeting if the request came from a referral outside the company.

This information drives home the importance of face-to-face marketing activities like networking, mixers with referral sources, participation in business and trade organizations, and referral source breakfasts/lunches. It also supports identifying the right prospects for your firm, conducting research about the company and its leaders, and determining who you know that can make the introduction. In this competitive time when every CPA firm is looking for new business this is information to live by.

Why Creating a Great Place to Work is More Important Than Ever

2010-10-05T14:21:00.002-04:00

A discussion on the AAM LinkedIn Group has started about whether being recognized as a great place to work is a strategic business decision or just a fad. Read Rick Telberg's column in CPA Trendlines and weigh in on the topic.

Selling to the C Suite

2010-10-04T11:06:00.002-04:00

The Capstone Sales Series continues on Wednesday, October 6, 2010, with Selling to the C Suite presented by Steve Bistritz, President, SellXL, and co-author of Selling to the C Suite. Attend this webinar and learn:

· How to understand what executives want.
· How to gain access to the right executives.
· Which sales techniques CEOs find most effective.
· How to use the face time with the prospect to your advantage.

Register today! The webinars will be held from 12:00-1:15 p.m. Eastern. The cost is $89 each, or use Coupon Code 15OFF to receive a 15% discount for the remaining two programs.

October 27, 2010 – Creating Persuasive Business Proposals
Presented by Tom Sant, Hyde Park Partners
Tom is the author of the best-selling Persuasive Business Proposals and has been called "America's foremost practitioner of proposal writing." He was also named one of the top 10 sales trainers in the world by Selling Power magazine. In his session, he will explain and illustrate:

The difference between information and persuasion.
The seven vital questions you must answer to create a client-centered proposal.
How to differentiate your services in a commoditized market.
How to create a compelling value proposition.
Effective ways to follow up your proposal to win the business.

Register today! The webinars will be held from 12:00-1:15 p.m. Eastern. The cost is $89 each, or use Coupon Code 15OFF to receive a 15% discount for the remaining two programs.

Katie Tolin: 2010 Marketer of the Year

2010-09-28T20:37:00.005-04:00

Katie Tolin, marketing director for Rea & Associates, Inc., in New Philadelphia, Ohio, was honored as the 2010 Marketer of the Year at the Association for Accounting Marketing Annual Summit held in June 2010. The award is sponsored by CPA Practice Management Forum, a newsletter focusing exclusively on successful marketing strategies within CPA firms.

What does Katie think is the greatest challenge in marketing CPA firms? What is her prediction for accounting marketing for the next five years? What factors/skills enable accounting marketers to be successful? And, what is her best piece of advice for managing partners? Click here to listen to Capstone Marketing's interview.

Neil Fauerbach: 2010 AAM Hall of Fame Inductee

2010-09-20T07:57:00.001-04:00

Neil Fauerbach, Partner and Director of Business Development & Marketing, Smith & Gesteland, was inducted into the Association for Accounting Marketing Hall of Fame at the 21st Annual AAM Summit in Washington, DC. What factors does Neil think enables accounting marketers to be successful? What is the biggest change he has noticed in accounting marketing over the past 10 years? What is his best piece of advice for accounting marketers? For managing partners? Click here to listen to Capstone Marketing's interview.

Three Steps to Sales Success

2010-09-08T20:37:00.003-04:00

You are looking for new business and the competition is fierce. The Capstone Sales Series of webinars will guide you through the sales process from finding the right prospects to gaining access to the right executives to creating a persuasive business proposal that will help you win the business. The webinars will be held from 12:00-1:15 p.m. Eastern. Cost is $89 each, or $225 for the Series. Use the Capstone Sales Series for Lunch & Learn programs for your firm! Register today!

Step 1:
September 22, 2010 – Finding the Right Prospects
Jean Caragher, Capstone Marketing

You aren’t satisfied with the prospects in your pipeline – or you’re starting from square one and need to create a pipeline of prospective clients. Attend this webinar presented by accounting marketing veteran, Jean Caragher, and learn:

· How to determine the best prospects for your firm.
· How to find the best prospects for your firm.
· About the resources available to build your prospect list.
· How to cultivate leads from clients and referral sources.
· About marketing activities that generate leads.

Step 2:
October 6, 2010 – Selling to the C Suite
Steve Bistritz, President, SellXL

You’ve created your list of prospects. Now, how do you get in front of them? Attend this webinar presented by Steve Bistritz, co-author of Selling to the C Suite, with four decades of sales management and training experience, and learn:

· How to understand what executives want.
· How to gain access to the right executives.
· Which sales techniques CEOs find most effective.
· How to use the face time with the prospect to your advantage.

Step 3:
October 27, 2010 – Creating Persuasive Business Proposals
Tom Sant, Hyde Park Partners

You’ve created your list of prospects and you’ve met with one or more of them. Now, how do you create a persuasive business proposal to help you win the business?

Get the answers by attending this webinar, presented by Tom Sant. Tom is the author of the best-selling Persuasive Business Proposals and has been called “America’s foremost practitioner of proposal writing." He was also named one of the top 10 sales trainers in the world by Selling Power magazine. In his session, he will explain and illustrate:

• The difference between information and persuasion.
• The seven vital questions you must answer to create a client-centered proposal.
• How to differentiate your services in a commoditized market.
• How to create a compelling value proposition.
• Effective ways to follow up your proposal to win the business.

Free Seven Keys CPA Executive Summary Now Available!

2010-08-27T10:43:00.002-04:00

Download the Seven Keys to Successful CPA Firm Management Executive Summary today.

The Seven Keys to Successful CPA Firm Management is based on research conducted over the past two years including thousands of survey responses and interviews with leading authorities. Our research identifies the best practices and common characteristics that separate the competitively successful firms from the not-so-successful. We're calling them 'The Leaders vs. The Laggards.‘

The Seven Keys are:

1. Leadership and Management
2. Technology Trends
3. Marketing and Business Development
4. Client Service and Satisfaction
5. Creating a Great Place to Work
6. Building the Learning Organization
7. Strategy Execution

For more information contact Jean Caragher, jcaragher@capstonemarketing.com or Rick Telberg, rtelberg@baystreetgroup.com.

Accountants Got Talent Contest - Deadline Sept 3!

2010-08-26T11:55:00.001-04:00

Next Generation Consulting and Accounting Tomorrow are hosting an "Accountants Got Talent" video contest ... this is the chance for you to show your stuff! Prizes include two roundtrip tickets to Las Vegas and a free registration to the Winning Is Everything Conference and more! Log on to see some of the video submissions to date, and then post your own entry!

ACT! to Integrate with Outlook

2010-08-12T16:30:00.002-04:00

Customer Relationship Management (CRM) is a complicated issue for many CPA firms. If your firm currently uses ACT! to manage its client, referral source, and prospect databases and contact management good news may be on the way. You can now integrate your Sage ACT! and Outlook contacts, plus keep your calendars in sync.

Sync your existing Sage ACT! contacts with what you keep in Outlook. It doesn’t matter where your contacts were created or changed, everything will be kept updated in both places. And, you have the option to control which contacts are synced back and forth.

Keep your busy schedule updated in both places, no matter where you add or modify activities and meetings. Sage ACT! will help you cut back on meeting conflicts with rules that handle them automatically. And, you can choose which activity types in Sage ACT! sync back to Outlook so that your Outlook calendar remains free of your Sage ACT! to-dos.

Sage is offering weekly live webcasts:

What’s New in Sage ACT! 2011
Dates: Every Wednesday
Time: 12:00 PDT / 3:00 EDT
Register

Signs of Economic Rebound? CPAs Boost Marketing Efforts in Battle for New Clients

2010-08-03T12:13:00.002-04:00

Aiming to take advantage of new opportunities and to make up for lost time, tax and accounting firms are poised to significantly accelerate their spending on marketing and new business development this year, according to a new survey for "The Seven Keys to Successful CPA Firm Management" practice improvement program.

Some 27% of accountants surveyed say they plan to "increase significantly" their marketing activities over the next year, about twice the number who did so over the past year, Seven Keys CPA reports.

The topline results of the survey are free to the participants and detailed analyses and recommendations are scheduled to be unveiled in a one-hour webinar,

"Marketing + Biz Dev: Trends and Strategies 2010"
Thursday, August 12, 2010
1:00-2:00 p.m. Eastern
Register today!

"The survey shows a new sense of urgency and importance in new business development that had lapsed with the economic slump," said Jean Caragher, president of Capstone Marketing, which, with Bay Street Group LLC, jointly produces the Seven Keys CPA program. "Firms are redoubling their efforts to win new clients, retain old clients and build revenue."

In addition to the 27% of accountants "significantly" ramping up marketing this year, 50% will "increase somewhat," 11% report "no change," 2% will "decrease somewhat," and another 2% will "decrease significantly" their marketing activities over the next year.

For the past year -- in addition to the 15% who said they had "increased significantly their marketing activities -- 50% said they had "somewhat" accelerated their marketing over the previous year, 28% reported no change, 4% reported " decreased somewhat," and 2% reported "decreased significantly."

"CPA firms are battling for business with both barrels," said Rick Telberg, CEO of Bay Street Group LLC. "They're showing a renewed competitiveness and confidence."

See You on Facebook: CPA Firms Surge into Digital Marketing

2010-07-21T14:26:00.003-04:00

Tax and accounting firms are rapidly adopting digital and online marketing strategies as traditional business development activities fall by the wayside, according to research conducted for "The Seven Keys to Successful CPA Firm Management" practice improvement program.

For the first time ever, a majority of CPAs report that over the next year their marketing plans will be emphasizing digital initiatives, such as website development, email newsletters and social media.

"To be sure, personal networking remains the top business-getting activity for tax and accounting firms," said Jean Caragher, president of Capstone Marketing, which, with Bay Street Group LLC, produces the Seven Keys CPA practice improvement program. "But now they are increasingly taking those in-person networking activities online."

The topline results of the survey are free to the participants and detailed analyses and recommendations are scheduled to be unveiled in a one-hour webinar:

"Marketing + Biz Dev: Trends and Strategies 2010"
Thursday, August 12, 2010
1:00-2:00 p.m. Eastern
Accounting firm executives, managers, and marketers can register here.

According to the survey, the top five marketing tactics CPA firms will be pouring new resources into are:

1. Networking with prospects and referral sources (69%)
2. Upgrading the firm's website (55%)
3. E-newsletters (53%)
4. Thought leadership (blogging, publishing articles, speaking engagements, white papers) (49%)
5. Social media (LinkedIn, Facebook, Twitter, YouTube, etc.) (47%)

"Clearly, the tide has turned toward digital," said Rick Telberg, CEO of Bay Street Group LLC. "I think it's safe to say yellow page advertising is dead. The internet is taking over."

60 Ideas in 60 Minutes

2010-07-06T10:24:00.003-04:00

60 Ideas in 60 Minutes, the closing session at this year's Association for Accounting Marketing Summit, tripled its goal and generated 180+ ideas learned during the conference and through real life experiences. What I've learned so far is that I participate in an industry with colleagues who are more than willing to share ideas and best practices that help make me a more effective consultant and marketer.

Auditing Your Auditor: Marketing Implications

2010-06-27T15:48:00.009-04:00

“Auditing Your Auditor” is the cover story of the April 2010 issue of CFO, highlighting examples of fee negotiations and audit fee benchmarking opportunities for CFOs. Pressured to reduce costs CFOs are examining all budget items, including audit fees. However, CFOs should not be seeking the lowball fee for fear of being underaudited.

What are the marketing implications from “Auditing Your Auditor?”

Client loyalty isn’t what it used to be. As sited in the CFO article OSG switched to PwC in 2009 after 40 years with Ernst & Young, and its $2 million audit fee dropped by a third. Ensure client satisfaction with a formal client satisfaction program, which the majority of CPA firms are not doing.

Help your clients to operate more efficiently. This will enable you to offer a more competitive fee since you will be doing less work.

Be sure that your clients receive attention from partners and managers. Make your clients feel important. Be proactive with information and advice.

Provide your team with adequate training in order to run the audit at optimum efficiency, and reduce risk.

Consider negotiating additional services within the audit fee. The client will feel like they are getting more bang for their buck.

Analyze your firm’s new and lost clients, lost proposals, and the current client fee negotiations from the past two years. Who were the prior auditors of your new clients? Which firms did your lost clients and prospects select? What impact has fee negotiations had on your firm’s revenue? This information will enable you to price future engagements more competitively.

The editorial team of CFO provides CFOs a way to benchmark audit fees against what their peers paid, over a three-year period. For more information go to www.cfo.com/fees.

Bull's-Eye! The Ultimate How-To Marketing & Sales Guide for CPAs

2010-06-16T15:58:00.011-04:00

Bull's-Eye! The Ultimate How-To Marketing & Sales Guide for CPAs

Sponsored by the Association for Accounting Marketing and PCPS
Edited by Tracy Crevar Warren

Whether your firm is getting back into the full swing of marketing and you are looking for some new ideas to jumpstart your sales efforts, or you are getting serious about business development for the first time, this book is designed for you.& Its purpose is to inspire, teach, and provide you with practical insight to help build results-oriented marketing and sales programs in your organization.

Bull’s-Eye is a collaboration of 37 of the industry’s most successful marketing and sales minds. Collectively these gifted professionals have served as pioneering practitioners inside the profession, and as outside advisors and thought leaders for hundreds, even thousands of CPAs and their firms. They give you an insider’s view of what it takes to build marketing initiatives that produce results. Through the principles, best practices and case studies shared in the book, you can see success doesn’t happen by chance, but through careful planning, development, and implementation of well-designed processes, systems, and tools. This compendium of marketing know-how shows you how to build your marketing team, implement marketing techniques that get you noticed, connect the dots between marketing and sales, measure results, and much, much more.

Attention 2010 AAM Summit Attendees: Drawings will be held for you to receive free copies of the book and you can sign up onsite to receive a 20% discount!

Facebook Privacy Settings

2010-06-10T08:43:00.003-04:00

The June 2010 issue of Journal of Accountancy includes a very helpful article by J. Carlton Collins, "Fortify Your Facebook Privacy Settings." It provides step-by-step instructions for creating lists of friends, hiding friends from non-friends, blocking third-party Facebook applications, protecting yourself from networks and Facebook advertisers, preventing photo/video tag mistakes, and more.

You may also want to check out Facebook's Privacy Guide for more information.

What I've learned so far is that social media is blurring the lines between our professional and personal lives. Be informed and take action to protect your reputation and personal brand.

2010 Seven Keys Webinar Series

2010-05-31T14:50:00.005-04:00

The 2010 Seven Keys to Successful CPA Firm Management Webinar Series begins on Thursday, June 10, 1:00-2:00 p.m. Eastern with "Leadership and Management: New Rules for the New Normal." Register today and learn more about the Seven Keys:

Leadership and Management

Technology Trends

Marketing and Business Development

Client Service and Satisfaction

Creating a Great Place to Work

Building the Learning Organization

Strategy Execution

Social Media Marketing GPS

2010-05-20T12:43:00.001-04:00

Social Media Marketing GPS, written by Toby Bloomberg, Bloomberg Marketing, is the first business book written on - not about - Twitter. Tweet interviews with 40 prominent social media marketers including people from Dell, Comcast, Marketing Profs, BlogHer. 12 chapters take you from the importance of social media to ethics to the social enterprise, tactics, sponsored conversations, blogger relations with a few case studies.

"The goal was to create a comprehensive body of knowledge that could serve as a roadmap (GPS) for developing a strategic social media plan," explains Bloomberg. "My thoughts were if this could be accomplished in a series of 140 character tweets it might help ease the apprehension for people new to social media, while at the same time, providing a review and offering some interesting ideas for those more experienced."

The Five Essential Elements of Wellbeing

2010-05-13T09:00:00.002-04:00

To construct a comprehensive measure of individual wellbeing, Gallup designed an assessment composed of the best questions they have asked over the last 50 years. To create this assessment, the Wellbeing Finder, hundreds of questions were tested across countries, languages, and vastly different life situations.

Upon completion of the research, five distinct statistical factors emerged. These are the universal elements of wellbeing that differentiate a thriving life from one spent suffering. They describe aspects of our lives that we can do something about and that are important to people in every situation we studied.

The Elements
These elements are the currency of a life that matters. They do not include every nuance of what's important in life, but they do represent five broad categories that are essential to most people.

The first element is about how you occupy your time or simply liking what you do every day: your Career Wellbeing.

The second element is about having strong relationships and love in your life: your Social Wellbeing.

The third element is about effectively managing your economic life: your Financial Wellbeing.

The fourth element is about having good health and enough energy to get things done on a daily basis: your Physical Wellbeing.

The fifth element is about the sense of engagement you have with the area where you live: your Community Wellbeing.

While 66% of people are doing well in at least one of these areas, just 7% are thriving in all five. If we're struggling in any one of these domains, as most of us are, it damages our wellbeing and wears on our daily life. When we strengthen our wellbeing in any of these areas, we will have better days, months, and decades. But we're not getting the most out of our lives unless we're living effectively in all five.

Although these elements are universal across faiths, cultures, and nationalities, people take different paths to increasing their individual wellbeing. For many people, spirituality drives them in all these areas. Their faith is the most important facet of their lives, and it is the foundation of their daily efforts. For others, a deep mission, such as protecting the environment, inspires them each day. While the things that motivate us differ greatly from one person to the next, the outcomes do not.

To learn more read Well Being by Tom Rath (author of How Full is Your Bucket?) and Jim Harter, Ph.D. (co-author of 12: The Elements of Great Managing).

7 Key Steps to Turning Your Big Idea Into a Big Success

2010-05-07T11:02:00.002-04:00

In an article for MarketingProfs Mike Sprouse, chief marketing officer of Epic Advertising, provides seven key steps to turn your big idea into a big success. As you create your firm's marketing programs consider these seven steps:

Figure out what makes you tick, what makes you passionate about your career, or what you see in your industry that you really enjoy and think you can add value to.
Create a business plan. It should go beyond the necessary dollars-and-cents analysis and include a how your idea will benefit your company, your job, and your target audiences.
Figure out the "who"—who else in your company or industry might share your passions and ideas. Develop a "who's on board" list of people who might be willing to help bring your idea to market.
Once you have people on board, figure out—with them—the "how," or the process via which you'll make your idea a success.
Establish key goals or benchmarks—two or three short-term targets and one long-term target.
Finally, when you're ready, figure out how you will tell your story to people who may be interested. If your idea is a good one, then it is your responsibility to share it with them.
Have fun. When ideas or projects cease being fun, the passion dries up and, typically, the end product suffers.

Unmade Beds and Dryer Sheets

2010-02-08T08:44:00.004-05:00

I do my share of traveling to clients, speaking engagements, and conferences. Since I'm always looking for stories that I can incorporate into my consulting I pay particular attention to the level of client service that I receive from the airlines, rental car companies, and hotels. Let me share with you the spectrum of service I received on a couple of recent trips.

I checked into a newly opened hotel. The doorman and the personnel at check-in were friendly and welcoming. However, when I got to my room I found that the bed wasn't made - the room hadn't been cleaned! I went back to the check-in desk, explained what happened, and the gentleman said, "That's the second time that's happened tonight." Not the response I was looking for but I got a new room (that had been cleaned) and a free bottle of water.

I checked into an established hotel for a friend's wedding. All personnel were extremely professional and polite. Every employee looked for ways to be helpful. A client service culture was evident. As I got ready for the wedding I noticed that my wool dress was full of static, not good to have your dress clinging to you especially with the dancing I was planning to do. I called housekeeping to see if they had Static Guard. No Static Guard. I tried water. No luck. Then, a knock on the door. Housekeeping brought me several dryer sheets, the sheets used in the dryer to prevent static cling. I rubbed the dryer sheets on my dress and slip, and presto! No static cling! Problem solved by a very creative, caring member of the housekeeping staff.

What I've learned so far is that in these competitive times all of us need to pay attention to the level of service we provide our clients, whether we're operating a hotel, a rental car company, a consulting business, or a CPA firm.

Here are a few tips for my CPA firm colleagues to keep in mind during your busiest time of the year:

- Work as a team and communicate, communicate, communicate!
- Proofread and check your work in order to catch mistakes. Be sure clients' names are spelled correctly and tax returns are sent to the correct address.
- Pay attention to the presentation of client financial statements and tax returns. It is part of your brand.
- Pay attention to your personal image and how clients perceive you. This includes how you are dressed, arriving on time, how you shake hands, the types of questions you ask and how you respond to client questions.
- Resolve problems quickly. Problems won't go away by ignoring them.
- Remember to say “thank you” to clients.

The 3 Facebook Settings Every User Should Check Now

2010-01-22T14:13:00.002-05:00

All of us are concerned about privacy, particularly in the social media world we live in today. In December 2009 Facebook announced changes regarding new privacy controls for information sharing. If you opted for Facebook's recommended settings you may now be surprised to find that you inadvertently gave Facebook the right to publicize your private information including status updates, photos, and shared links. Be sure to read The 3 Facebook Settings Every User Should Check Now at The New York Times online today.

The Latest on IRC 7216

2010-01-05T20:10:00.000-05:00

On December 30, 2009 the IRS issued two revenue rulings (Rev. Ruls. 2010-4 and 2010-5) that provide guidance to tax return preparers on situations in which they will not be liable for civil or criminal penalties under IRC 7216 for disclosing or using tax return information.

IRC 7216 prohibits a tax return preparer from “knowingly or recklessly” disclosing or using tax return information. A violation could result in a preparer’s being charged with a criminal misdemeanor involving a maximum penalty of $1,000 or one year in prison, or both, plus costs of prosecution.

Read more at Journal of Accountancy and this website.

Top 12 Ways to Keep Your New Year's Resolution

2010-01-02T11:36:00.004-05:00

The New Year prompts many of us to create resolutions, promises to start, stop, or change something that we think will make our lives better. Success requires follow up. Executive coach and change agent M.J. Ryan offers the Top 12 Ways to Keep Your New Year's Resolution:

Make it non-negotiable.
Plan for the usual excuses.
Make it actionable.
Be accountable.
Make a budget.
Set deadlines.
Put it on the schedule.
Do something every day/week/month.
Monitor progress regularly.
Celebrate successes.
Re-assess strategy.
Repeat.

For more ideas and advice consider attending the last in the series of seven webinars on The Seven Keys to Successful CPA Firm Management, Strategy Execution, by Capstone Marketing and the Bay Street Group LLC, January 12, 2010, 1:00-2:00 p.m. Eastern, $79.

Happy New Year!

2010 Top Challenges for Financial Executives

2009-12-23T09:49:00.002-05:00

Financial Executives International has written a report listing the top challenges it sees for financial executives next year. Among them are:

Economic recovery and the U.S. economic outlook.
Health care reform.
Employee benefits.
Financial regulatory reform.
Global convergence of U.S. GAAP and International Financial Reporting Standards.
Business taxation. President Obama’s fiscal 2010 budget submission calls for reform of the U.S. tax rules relating to foreign source business income and for repeal of the last-in, first-out accounting method.

Be sure to keep your clients informed about these and other issues. Your clients are looking for proactive advice from your firm!

Is the Accounting Profession Setting the Bar Too Low?

2009-11-03T21:27:00.005-05:00

Business Week's Best Place to Launch a Career 2009 reveals an interesting detail about the accounting profession. The Big 4 firms hold the top four spots: Deloitte (1), E&Y (2), PWC (3) and KPMG (4). Grant Thornton (51) and RSM McGladrey (66) also make the list. Kudos to the accounting profession! However, when asked to identify the most desirable trait in new employees the responses were either "College GPA" or "College Major." Are we setting the bar too low? Companies like General Mills, Nestle, Johnson & Johnson, Marriott, and CIGNA are looking for leadership; Booz Allen Hamilton, Merck, and Walt Disney are looking for communication; and, Wells Fargo, Progressive, Amazon.com, and Prudential are looking for analytical skills. Think of the competitive advantage you could create by expecting more from your recruits than a college degree!

Our webinar on November 10, 1:00 p.m. Eastern, Creating a Great Place to Work, will explore the characteristics of the best companies to work for, what great CPA firms have in common, and hiring/career trends. It's not all about the benefits. It's about the people.

The Inspiring Leader

2009-10-15T13:42:00.007-04:00

Leadership is a hot topic these days and is one of the Seven Keys to Successful CPA Firm Management. I attended a webinar today sponsored by Soundview Executive Book Summaries about "Unlocking the Secrets of How Extraordinary Leaders Motivate." The speakers were the co-authors of The Inspiring Leader, John Zenger, Joseph Folkman and Scott Edinger.

Their research shows that inspiration is the most powerful of all leadership competencies. It is the best predictor of overall ratings of leadership effectiveness by direct reports, peers and managers. It is the quality most valued by employees. Inspiration is also the factor most correlated with employee commitment and satisfaction. And, the impact of inspiring and motivating others is consistent across different kinds of organizations and within different cultures.

During the webinar I asked, "How can inspiring leaders be held accountable?" The presenters offered this feedback:

Evaluate the leader's performance on achieving his business objectives.
Evaluate how people respond, which can be measured by employee retention, commitment, engagement, and their willingness to go the extra mile.
Keep in mind that there are different ways to inspire. For example, enthusiasts are known for their pep talks, experts inspire using knowledge, and enhancers inspire by building relationships.

Here are a few more valuable tips:

The ability to inspire doesn't require a big title.
Align your firm's goals with the objectives of your people. People love their work when they feel that they are making a difference. People want to make a contribution and do something important.
Find innovative ways to communicate. E-mail is impersonal. Face time is critical even if the amount of time needs to be reduced due to the economy or other factors.

What I've learned so far is that all of us have the opportunity to be inspiring leaders. The difference is that some of us take advantage of the opportunities while others just think about it.

LinkedIn: 7 Secrets for Populating Your Connections

2009-10-08T16:20:00.002-04:00

I attended the American Marketing Association Hampton Roads Chapter luncheon today, "Lost on LinkedIn?," featuring author, speaker, consultant and radio host Mark Amtower. Mark's LinkedIn profile includes 500+ connections and 200+ recommendations. He is a member of 30+ LinkedIn groups, starting a few himself. So, he knows what he's talking about.

In the featured video Mark explains why CPAs should be LinkedIn and recommends the amount of time that should be spent managing your LinkedIn profile. Here are the Seven Secrets for Populating Your LinkedIn Connections from Mark's presentation:

Your current contacts.
Those connected to your connections.
Those in pertinent groups.
Those who answer Q&A.
Those viewing your profile. (This requires a paid LinkedIn membership. Mark's advice: If you opt for a paid membership choose the least expensive one.)
Those "you may know."
Invite key connections from other social networks.
Bonus: Look up those you read about in trade publications and see if they are in your "network."

What I've learned so far is that social media is changing our marketing world. Explore how social media tools like LinkedIn can support your marketing plan.

Key Elements of a Client Satisfaction Program

2009-10-07T14:15:00.002-04:00

As follow up to today's webinar, "Client Satisfaction and Service: How to Retain Clients and Grow Revenue in a Recession," here are the key elements of a client satisfaction program.

The bottom line is that every CPA firm claims to deliver excellent client service. How does your firm support that claim? Do you have a formal client satisfaction and retention program? If not, today is the day to start.

How to Ask
• Written surveys (mail, online)
• Interviews
• Clients panels, focus groups
• Short surveys after completion of engagements
• Events: Seminars, social events (golf, theatre, etc.)
• Communication: Newsletters, e-newsletters

What to Ask
• How you were selected: Competitive fees, Industry expertise, Location, Integrity and ethics, Personal relationships, Professionalism, Range of services, Reputation , Size of the firm, Technical expertise
• What do you enjoy most about working with ?
• What are you dissatisfied about with your relationship with ?
• What do you think differentiates (your firm) from other accounting firms?
• In the past year have you considered changing CPA firms? If yes, why?
• Questions regarding referral activity, quality/timeliness of services, frequency/quality of communications, their engagement team,
• Cross-selling questions: You are currently providing, Another Company is Currently Providing, Planning to Purchase in the Next 12 Months
• Rate value for fees paid

When to Outsource
• When you don’t have the internal resources
• When you are interested in obtaining more unbiased feedback

You have a successful referral program when ...

2009-10-07T14:10:00.002-04:00

As follow up to today's webinar, "Client Satisfaction and Service: How to Retain Clients and Grow Revenue in a Recession," you have a successful referral program when ...

• You can identify the bankers, attorneys, etc. of your clients.
• You meet with your referral sources/COIs on a regular basis.
• Your professional staff has specific referral marketing goals.
• You track these meetings.
• You track referrals given out/received.
• Your people can describe the type of new business you are targeting.
• You are training/mentoring/providing opportunities for your people to build their own networks.
• You utilize the networks of your colleagues to solve others’ problems.
• You ASK your clients and referral sources for leads.
• You thank your referrals sources for leads – the value of handwritten notes.

Why Clients Change CPA Firms

2009-10-06T06:39:00.002-04:00

Sixty-six percent of clients say the main reason they would terminate their CPA firm is for poor "client service and attentiveness." Yet, only 27% of CPAs see "client service and attentiveness" as a problem. Client service and retention has never been more important. In these times of fee shopping and negotiation it is critical to solidify your client relationships.

Attend our webinar, "Client Satisfaction and Service: How to Retain Clients and Grow Revenue in a Recession," October 7, 12:00-1:00 p.m. Eastern and learn:

What clients really think
Why accounting firms lose clients
How to manage client service to maximize client satisfaction
The hidden land mines in your marketing program
How extraordinary client service can pay off for your firm
Client service opportunities for tax season

2009 Best Accounting Firms to Work for

2009-09-27T13:50:00.002-04:00

The 2009 Best Accounting Firms to Work for survey and award program was created by Accounting Today and Best Companies Group. It was designed to identify, recognize and honor the best places of employment in the accounting industry, benefiting the nation's economy, its workforce and businesses. The Best Accounting Firms to Work for list is made up of a total of 100 firms, split into three groups: 20 small-sized companies (15-24 employees), 65 medium-sized companies (25-249 employees) 15 large-sized companies (more than 250 employees).

The 2009 Best Accounting Firms to Work for are (alphabetical order, no ranking):
· Albright, Fortenberry & Ninas, LLP
· Anchin, Block & Anchin LLP
· Anglin Reichmann Snellgrove & Armstrong P.C.
· Argy, Wiltse & Robinson P.C.
· Armanino McKenna LLP
· Armao, Costa & Ricciardi, CPAs, P.C.
· Baker Tilly Virchow Krause, LLP
· Baldwin & Associates, PLLC
· Barfield, Murphy, Shank & Smith
· Bartolomei Pucciarelli, LLC
· BCG & Company
· BDO Seidman, LLP
· BeachFleischman PC
· Berlin, Ramos & Company, P.A.
· Bernard Robinson & Company, L.L.P.
· Berntson Porter & Company, PLLC
· Biscotti, Toback & Company, CPA's P.C.
· BKD, LLP
· Bland & Associates, P.C.
· BlumShapiro
· Bond Beebe Accountants & Advisors
· Boyer & Ritter, CPAs and Consultants
· Braver Schimler Pierce Jenkins, LLP
· Brown Schultz Sheridan & Fritz
· Burr, Pilger & Mayer, Inc.
· Citrin Cooperman & Company LLP
· Cohen & Company
· Coulter & Justus, P.C.
· Cowan Bolduc Doherty, LLC
· Daszkal Bolton LLP
· Davidson, Holland, Whitesell & Co., PLLC
· DiCicco, Gulman & Company LLP
· Dixon Hughes PLLC
· Dunton & Associates, LLC
· E. Cohen and Company, CPAs
· Eisner LLP
· Friedman LLP
· GBH CPAs, PC
· Glenn M. Gelman & Associates, Certified Public Accountants and Business Consultants
· Grassi & Co., CPAs, P.C.
· Greenstein, Rogoff, Olsen & Co. LLP
· Greer & Walker, LLP
· Hancock Askew & Co., LLP
· Henderson, Hutcherson & McCullough, PLLC
· Hertzbach & Company, P.A.
· Homes, Lowry, Horn & Johnson, Ltd
· Isdaner & Company, LLC
· J.H. Cohn LLP
· Johanson & Yau Accountancy Corporation
· Johnson Jacobson Wilcox
· Johnson Lambert & Co. LLP
· KatzAbosch
· Kaufman, Rossin & Co.
· Kearney & Company
· Kolb+Co. SC
· KraftCPAs PLLC
· Kreinces Rollins & Shanker, LLC
· Lanigan, Ryan, Malcolm & Doyle, P.C.
· LaPorte Sehrt Romig Hand
· Layton Layton & Tobler LLP
· Lewis, Hooper & Dick, LLC
· LMGW Certified Public Accountants LLP
· Maloney + Novotny LLC
· Mann. Weitz & Associates L.L.C.
· Mark Bailey & Company
· Martin Starnes & Associates, CPAs, P.A.
· McKonly & Asbury, LLP
· Mikunda, Cottrell & Co., Inc.
· Montgomery Coscia Greilich LLP
· Onisko & Scholz, LLP Certified Public Accountants
· Payne, Nickles & Company
· Pender Newkirk & Company LLP
· Petrinovich Pugh & Co, LLP
· Pittman & Brooks, P.C.
· PKF Texas
· Porter Keadle Moore, LLP
· Potter & Company, LLP
· Price, Kong & Co., CPA's
· Rehmann
· RINA accountancy corporation
· Rosenberg, Smith, Cooney & Migliore, P.C.
· Rothstein Kass
· Rushton & Company, LLC
· Sanford, Baumeister & Frazier, PLLC
· Sharrard, McGee & Co., P.A.
· Sisterson & Co. LLP
· Soukup, Bush & Associates, CPAs, P.C.
· Squire & Company, PC
· Swindoll, Janzen, Hawk & Loyd, LLC
· Tate & Tryon
· Testone, Marshall & Discenza, LLP CPAs
· The Whitlock Company, LLP
· ThomasYork, LLP
· Wall, Einhorn & Chernitzer, P.C.
· Wessel & Company
· WhippleWood CPAs, PC
· Whitley Penn LLP
· Wilkin & Guttenplan
· Windes & McClaughry Accountancy Corporation
· Windham Brannon

Marketing & Business Development Webinar: Your Personal Invitation

2009-09-09T08:30:00.002-04:00

Marketing & Business Development Webinar

September 16, 1:00-2:00 p.m. Eastern

Attend this webinar and learn:

The economy's impact on marketing programs and budgets
How marketing matters in client retention
When is social media right for your firm?
Conduct a reality check on your marketing program
Firing clients: More important than ever?

ESPN2: Martina and Jimmy Need Help!

2009-09-08T14:35:00.006-04:00

I am an avid tennis fan. At this time of year I love to watch the US Open. I enjoy the competition, the surprises (have you heard about Melanie Oudin?), and the stories behind each player.

John McEnroe is the best tennis commentator ever. He's smart, funny, insightful and self-deprecating. So, I suppose it's unfair to compare other commentators with his experience. However, ESPN2: Martina Navratilova and Jimmy Connors need help! Don't get me wrong. They are two of the best tennis players of all time. Both are members of the International Tennis Hall of Fame. Yet, as commentators they are monotone and boring. There isn't any camaraderie between them.

What I've learned so far is to focus on your strengths. Conduct a personal SWOT analysis (strengths, weaknesses, opportunities, threats). Determine those skills that need further training and nurturing. Create a personal marketing plan to track the status of your goals. Find a mentor. This will be the difference between scoring an ace or a double fault!

Marketing & Business Development Webinar

2009-08-18T14:50:00.002-04:00

The Seven Keys to Successful CPA Firm Management webinar series continues on September 16, 1:00-2:00 p.m. Eastern with Marketing & Business Development. Attend this webinar and learn:

The economy's impact on marketing programs and budgets
How marketing matters in client retention
When is social media right for your firm?
Conduct a reality check on your marketing program
Firing clients: More important than ever

Special Offer! Attend both the Marketing & Business Development and Client Satisfaction (October 7) webinars for one low price of $125! Each separate webinar is $79.

The Client Satisfaction webinar features:

The hidden landmine of your marketing program
How to reduce fee resistance
How to empower your team to satisfy clients
Why CPA firms lose clients
How client satisfaction can differentiate your firm

The Seven Keys to Successful CPA Firm Management is based on research conducted by Capstone Marketing and Bay Street Group LLC over the past year including thousands of survey responses and interviews with leading authorities.

If you'd like to learn more about our findings, you can click here to download the 12-page PDF, "The Seven Keys to Success in CPA Firm Management." (No charge, no obligation.)

CPAs and Social Media

2009-08-12T10:24:00.004-04:00

Are CPAs looking at technology to strengthen their marketing efforts? As revealed in yesterday's Webinar, Technology: Investment and Implementation, part of The Seven Keys to Successful CPA Firm Management series, 35% of survey respondents are doing so. Leading firms are 35% more likely to identify using technology to strengthen their marketing efforts as a tech initiative.

CPA Trendlines research indicates that CPAs:

54% on LinkedIn
48% on Facebook
21% on Twitter
12% on Plaxo
6% on MySpace

Social media marketing is causing us to another look at how we create and execute marketing programs. The MarketingSherpa Social Media Marketing and PR Benchmark Survey 2008 reveals:

Social media is changing the way your company communicates: 31% strongly agree, 45% agree
48% of respondents will increase their social media budgets
Social media marketing and PR is very effective at influencing brand perception (39%), increasing brand awareness (37%), improving search engine rankings (38%), and increasing website traffic (33%).

What I've learned so far is that we need to embrace change. This can be uncomfortable. Yet, change enables us to enhance our skills and try new things, two characteristics of motivated achievers.

Best Ideas from AAM Summit 2009

2009-08-06T11:26:00.002-04:00

Here is the final installment (3 of 3) of the best ideas learned at the AAM Summit 2009. What I've learned so far is to listen to the wisdom of my colleagues. Enjoy!

Technology: Seven Keys Webinars Continue

2009-08-03T12:14:00.003-04:00

“Technology: Investment and Implementation”, the second key of the series, will be held on Tuesday, August 11, 1:00-2:00 p.m. Eastern.

In "Technology: Investment and Implementation," Jean Caragher, Capstone Marketing and Rick Telberg, Bay Street Group LLC will reveal:

- Top Five Tips to Economize Your Technology Spending
- How Leading Firms Differ from Laggard Firms in Technology Use
- Developing a Strategic Technology Plan
- Tips for Going Paperless
- How to Embrace the Mobile Environment
- The Impact of Social Media

Registration for the one-hour webinar on Technology, August 11, at 1 pm Eastern is now open. Price: $79; or, $379 for the remaining six-part series, a 20% discount.

More Highlights from 2009 AAM Summit

2009-07-30T10:12:00.002-04:00

How to Judge CPA Firm Leaders

2009-07-07T08:57:00.004-04:00

Rick Telberg's latest blog post, How to Judge CPA Firm Leaders, makes an excellent point. The ultimate test of leadership is in how results are achieved through the actions and behaviors of others.

Leadership is one of the Seven Keys to Successful CPA Firm Management identified by Capstone Marketing and Bay Street Group LLC. Details of our research will be unveiled in a series of monthly webinars starting Tuesday, July 14, 2009, at 1:00-2:00 pm Eastern, with "Leadership: New Rules for the New Normal."

In "Leadership: New Rules for the New Normal," Caragher and Telberg will reveal:
- Essential Qualities for Accounting Firm Leaders in Today's Economy
- How to Be a Leader if "Leader" Isn't in Your Job Title
- Key Skills Every Accounting Firm Employee Needs to Know
- Bridging the Generation Gap in Today's Workplace
- Why Teams Don't Work, and How to Fix Them
- What's Wrong with Every Firm's Compensation System

Registration for the one-hour webinar on Leadership, July 14, is now open. Price: $79; or $449 for the entire seven-part series, a 20% discount.

AAM Summit Video Highlights

2009-07-06T15:00:00.008-04:00

What I've learned so far is that networking is a tremendous source for business development and education. Here is feedback from our accounting marketing colleagues on the best idea they learned from the recent AAM Summit 2009. Check back often this week for additional video highlights.

Seven Keys Webinar Series

2009-06-23T11:12:00.004-04:00

CAPSTONE MARKETING AND BAY STREET GROUP LLC INTRODUCE
SEVEN KEYS TO SUCCESSFUL CPA FIRM MANAGEMENT

Seven Keys to be Shared in Webinar Series

CHESAPEAKE, VA, JUNE 23, 2009 – Bay Street Group LLC and Capstone Marketing, two leading marketing and market research firms to the CPA profession, have joined forces to conduct a ground-breaking and comprehensive investigation into the critical success factors for today’s accounting firm. The Seven Keys to Successful CPA Firm Management, www.baystreetgroup.com/sevenkeys, is based on research conducted over the past year including thousands of survey responses and interviews with leading authorities.

The Seven Keys are:
1. Leadership,
2. Technology,
3. Marketing & Business Development,
4. Client Satisfaction,
5. A Great Place to Work,
6. Learning Organization, and
7. Strategy Execution.

“Our research identifies the best practices and common characteristics that separate the competitively successful firms from the not-so-successful,” explains Jean Caragher, Capstone Marketing. “We're calling them 'The Leaders vs. The Laggards.'”

“Leaders enjoy above-par, even world-class, performance in the generally accepted metrics of practice management,” continues Rick Telberg, Bay Street Group LLC, “including revenue growth, profit margins, technical excellence, client satisfaction, staff morale and tenure, and professional reputation and brand value. Leaders clearly do things differently. And they clearly get superior results. ”

"Leaders," for instance, are 19 times more likely to show superior revenue growth than "Laggards."

Details of the research will be unveiled in a series of monthly webinars starting Tuesday, July 14, 2009, at 1 pm Eastern, with "Leadership: New Rules for the New Normal."

In "Leadership: New Rules for the New Normal," Caragher and Telberg will reveal:
- Essential Qualities for Accounting Firm Leaders in Today's Economy
- How to Be a Leader if "Leader" Isn't in Your Job Title
- Key Skills Every Accounting Firm Employee Needs to Know
- Bridging the Generation Gap in Today's Workplace
- Why Teams Don't Work, and How to Fix Them
- What's Wrong with Every Firm's Compensation System

Registration for the one-hour webinar on Leadership, July 14, is now open at http://baystreetgroup.com/store/product_detail.php?id=7keys-LE-09. Price: $79; or $449 for the entire seven-part series, a 20% discount.

For further information contact Jean Caragher, Capstone Marketing, jcaragher@capstonemarketing.com, 757.673.6826 or Rick Telberg, Bay Street Group LLC, rtelberg@baystreetgroup.com, 914.674.4531.

Advice from Ed Russ

2009-06-21T13:57:00.004-04:00

I received a pleasant suprise when reading the May 30, 2009 issue of Marketing News. The Viewpoint column featured our friend, Ed Russ, chief marketing and sales officer in the U.S. for Grant Thornton. Did you know that Ed trained to be an Olympic gymnast? Perhaps that's why he has been instrumental in vaulting Grant Thornton's Net Promoter Score to 62% (from 49%) and the firm's brand familiarity to 64% (from 43%).

What is Ed's advice for young marketers? First, "Do something you really like doing. I don't care what industry it is in ... My second piece of advice is to have empathy. Look at the world through your clients' eyes. Look at the world through your employees' eyes. Look at the world through your boss's eyes."

AAM-MAA Rocks!

2009-06-09T08:46:00.004-04:00

I'm back from attending the Association for Accounting Marketing's 20th Annual Summit held in Austin, TX. The AAM conference is always a time for education, renewal, and fantastic networking. Stay tuned for future posts on conference sessions.

One of the most valuable take-aways is the AAM-MAA Rocks! book, a 236-page compilation of all AAM-MAA entries, including photos and descriptions of the campaigns. This book can be purchased for $129 from AAM, 816.221.1296 or info@accountingmarketing.org. Order yours today while supplies today!

A Surprise at the Pump

2009-05-27T17:20:00.002-04:00

I recently visited with a client in the Northeast. I stopped at a gas station on my way to the airport to fill the tank of my rental car. As usual I stepped out of the car, swiped my credit card, and started pumping gas. I looked up and noticed that a man was watching me, not saying a word. Now, I'm wondering why this man is watching me. Finally, I asked, "Is this a full service station?" He nodded and said, "Yes." What a surprise! I haven't been to a full service gas station in 20 years. He finished pumping the gas, handed me my receipt, and said, "Have a nice day."

What a pleasant experience I had at that gas station, unusual to say the least. It was like the pizza delivery man arriving earlier than expected or a retailer honoring an expired coupon. What is your firm doing to unexpectedly delight clients? Calling them rather than sending an e-mail? Taking them to lunch rather than just calling them? Delivering a project or report early? Identifying solutions to problems they didn't even know they had?

Today's economy is causing many CPA firms to refocus their marketing efforts. Client service and satisfaction is a key component. Be sure to pay attention to your clients and do what it takes to ensure their satisfaction and loyalty. Your competition is more than willing to do so if you are not.

Performance Management Do's and Don'ts

2009-05-17T17:26:00.003-04:00

Heidi Brundage, CPA, PCPS Project Manager, AICPA, presented "Performance Management Do's and Don'ts" at the recent Practitioners Symposium. Performance management is becoming increasingly important in team development and accountability. How effective is your firm in modeling these best practices?

Managing Partner Do's:

Be a role model
Link compensation to performance
Support annual process training
Learn about diversity among team members
Encourage mentoring and soft skills training

Performance Champion Do's:

Gain executive buy-in
Review process periodically
Communicate the process
Tie performance plans to learning
Offer process training
Support those who counsel poor performers

Counselor Do's:

Practice and prepare examples
Understand competencies in the competency model
Educate counselors on opportunities for growth
Ask questions
Balance good with bad
Offer help in negative situations

Counselee Do's:

Recap what you have done over the past year
If successful, explain why
Gather feedback from multiple sources
If not successful, explain why and future plans to change
Review goals in relation to actual

10 Marketing Tips for Small Firms on a Budget

2009-05-06T14:40:00.002-04:00

Thank you to those who attended our session, "10 Marketing Tips for Small Firms on a Budget," at 7:00 a.m. this morning at the AICPA Practitioners Symposium! Here are the tips that Mike Shost, CPA, Shost & Company, and I shared:

Ensure client satisfaction.
Determine cross-selling opportunities.
Define your target markets.
Work your network.
Stay in front of clients, prospects, and referral sources.
Don't be afraid to ask for leads.
Understand the power of public relations.
Demonstrate your expertise through seminars.
Embrace technology and electronic media.
Have a plan.

Koltin's Perspective

2009-05-05T21:12:00.002-04:00

Coming to you live from Las Vegas. I am here attending the AICPA Practitioners Symposium. I will present "10 Marketing Tips for Small Firms on a Budget" tomorrow at 7:00 a.m. More on that tomorrow.

During his session, "Succeeding in the Changing Financial Environment," Allan Koltin, CPA, President and CEO, PDI Global, shared his perspective on many issues:

It is time to upgrade talent. Rate your talent on a scale of 1-10, 10 = super star and 1 = why are they here? Eliminate those rated 1-4.
One Big 4 firm has cut their rates by 30% in selected markets. This will increase competition with local firms in those markets.
More firms are willing to run their firms like a business.
More partners are involved in goal setting, incorporating accountability and coaching.
CEOs and Audit Committees are looking for firms to deliver 80% of current value for lesser fees.
There will be more mergers in the next five years than the last 10 years combined.
There has been more activity regarding lateral and merged-in partners in the past five years than there has been in the last 20 years.
Koltin is not seeing a lot of 30-somethings starting their own firms. Perhaps this is because there are better firms today and they don't want to leave.
The average growth rate for 2009 is predicted to be 3%.

Now, I'll try my luck at the slot machines. That's about as daring as I get with gambling!

The Virtual World Impacting CPA Firms

2009-04-30T16:11:00.002-04:00

My friend, Howard Wolosky, has written an article, 12 Questions to Test Your Competitive Fact-Finding Skills, which encourages us to evaluate our readiness to embrace technology along with the changing rules of business. Some of the questions are more difficult than others. I certainly need to conduct research to answer all of them. Once again, Howard gives us something to think about.

It’s the Vision Thing

2009-03-27T15:59:00.003-04:00

George H.W. Bush famously responded to the suggestion that he look up from the short-term goals of his campaign and start focusing on the longer term by saying, “Oh, the vision thing.” At the recent Winning Is Everything conference speaker Pat Williams, Senior VP, Orlando Magic, stated that vision is the heart and soul of leadership.

Effective leaders have a vision and set strategy to realize their vision. Yet, the Seven Keys to Successful CPA Firm Management research conducted by Capstone Marketing and Bay Street Group reveals that only 10 percent always develop business plans with input from everyone, 12 percent always meet regularly to check progress against their business plan, 10 percent can always articulate how they are better than their competition, 10 percent always have business goals that are specific and measurable, and 15 percent always hold individuals accountable for results.

It seems that few firms are successfully setting and executing strategy. This is an opportunity for your firm. What opportunities exist in your marketplace? How are you obtaining and retaining clients? How are you recruiting and retaining employees? What could your firm be doing differently? Engage firm leadership in strategy setting by doing your homework, facilitating strategy sessions, and gaining commitment one partner at a time.

To participate in the Capstone Marketing-Bay Street Group research go to http://cpatrendlines.com/seven-keys-research.

This article appears in the March/April issue of MarkeTrends published by the Association for Accounting Marketing.

Happy St. Patrick's Day!

2009-03-17T17:03:00.005-04:00

I couldn't let the day pass by without wishing all of you a happy St. Patrick's Day. I have many happy memories of St. Patrick's Day and a couple of trips I've taken to Ireland. When I was in seventh grade at Holy Name of Mary School in Valley Stream, NY the band marched in the St. Patrick's Day Parade in New York City. I played the glockenspiel and was very excited to see a cousin wave to me from the sidewalk. The fact that we were the last band and just ahead of the street sweeper doesn't diminish this happy memory!

Of course, in college St. Patrick's Day was a non-authorized day off spent drinking green beer, dancing, and spending time with friends.

And, I've been fortunate enough to travel to Ireland twice, both times kissing the Blarney Stone. I have a photo of me and my Mom standing by the Carragh River. We figured that was as close as we were going to get to a landmark with our surname!

May you live as long as you want, and never want as long as you live.

Happy St. Patrick's Day!

Social Media Marketing Tips from the Marketing Diva

2009-03-06T11:06:00.003-05:00

I caught up with Toby Bloomberg, Bloomberg Marketing, on a recent trip to Atlanta. Toby and I served on the AMA-Atlanta Chapter BOD many years ago. Known for her Diva Marketing blog, Toby now focuses on building strategic marketing plans that use Interactive/new media as a core tactic and integrate traditional into one master branding plan. Toby is ahead of the curve when it comes to social media marketing so I asked her for a few tips. Enjoy!

Top 100 Most Effective Subject Lines

2009-03-01T16:51:00.003-05:00

A recent article published by www.marketingprofs.com shared the Top 100 most effective subject lines from the MarketingProfs Get to the Point! Newsletters. See whether any of these catch your attention...

Potty All Night Long
Four Blogs You Should Be Reading
Seal Your Pitch with a Kiss
Release Me Please!
A Week at IKEA
Twitter for Timeliness
I See Riches on the Horizon
Newsletter No-No's
A Doctor Who Only Makes House Calls
Widget for Dollars
Did He Really Call It a 'Nymphomercial'?
I Am McLovin!
Playing Tag
The Freeconomics of Online Media
How Customers Are Like Lab Rats
Sidle Up to the LiveBar
The SEO Rapper
Burger King Tells a Whopper
Get 'em to Gawk
A Coffee Klatch for Every Marketer
Laugh 'Til You Cry
Shameless Marketing Stunt
A Super Bowl Strategy That Paid Off
How Saying the Least May Achieve the Most
Loaf Run
Senior Makes Site Accessible
Oh, Count the Ways You Can Annoy a Journalist
Ranting and Raving
Jingles 101 with Dinah Shore
When Your Video Isn't Viral
On-the-Fly Creativity
Put That Checkbook Away
Branding Tips from the Queen of Burlesque
Time to Yelp!
Get Over It, Kid
Do You Have Peripheral Vision?
Rules Schmules
Create a Customer Walk-a-Thon
Is Your Newsletter a Must-Read?
Keeping Up With the Kremplers
Subject Lines: Tell, Don't Sell
Cool Open-Rate Stats
Podcasting is Easier Than You Think
Don't Be a Twit
My Blog, Myself
Think Small to Win Big
Social Security Shenanigans
Would Your Blog Get an A?
A Resolution You Can Keep
How to Measure That Long Tail
You've Been Punk'd ... and Wiki'd
The Cold, Creamy, Refreshing Story of Social Media
The Wisdom of the In Crowd
The Angel in Red Speaks to Us
Glad You Could Make It!
Springtime for Twitter
Using Tricks of the Journalistic Trade
We're Still Married to the Past
I Like 'em Small and Focused
Get Gored
Will Dance for Gum
It's Alive! It's Alive!
No More Boring Conferences
A Clearly Good Marketing Plan
Yammer to Keep It Together
Passengers: Your Captain Has Screwed Up
Invite. Engage. Inoculate.
The Slow Art of Customer Seduction
How to Blow It in Five Words or Less
Give 'em a Good Tease
Taking the Email Plunge
Analyze This
The Deviant Approach to Creativity
A Gentle Step into Web 2.0
Sprechen-Vous Italiano?
We're Short on Euphemism Today
The Revolution Will Be Widgetized
Inspiration from the Swat Team
Why You Want Customers to Notice Your Zits
Help Your Customer Live the Fantasy
Remember Me?
Pepsi's Scheme Fails Taste Test
Mind Your E-Manners
Time to Step Up Your Blogging
Go Where the Current Leads
Look at Me. Now CLICK.
Warm Up Your Thinking Cap
What You Can Learn From Starbucks' Mistakes
Dumb It Up, People
Those Jerks Are Talking About You. So Talk Back!
How to Be a Better Blogger
A Permission Marketing Primer: Picking and Choosing
It's Time to Socialize, People!
Stick to the Script!
Loose Lips Sink Ships
Customer Service the Lexus Way
It's Talkification Time!
Plurk It, Baby!
The Cocktail Party Rule
On Target

What Are CPAs Doing Online?

2009-02-24T10:37:00.003-05:00

How many CPAs are blogging and twittering? Do they attend webinars? Text message? Are they LinkedIn or on Facebook? Rick Telberg, Bay Street Group LLC, is conducting research to find out. Complete the survey and receive a free Executive Preview.

Impact of Struggling Economy on Marketing Budgets

2009-02-23T12:24:00.002-05:00

MarketingSherpa, an excellent resource for articles, case studies, and marketing research, looks at some trends in marketing budgets, and the impact of these trends. This initial Chart of the Week reflects on the results of their research into the impact of the struggling economy on marketing.

Best Ideas From Winning Is Everything #2

2009-02-09T17:34:00.002-05:00

More ideas! Enjoy!

Best Ideas From Winning Is Everything #1

2009-02-09T16:47:00.002-05:00

What I've learned to so far is to share ideas with colleagues. Enjoy this first of two videos about the best ideas heard at last month's Winning Is Everything conference.

Crafting and Delivering Winning Presentations

2009-02-03T16:20:00.004-05:00

Rebecca Ryan, 2EO, Next Generation Consulting, shared her thoughts on crafting and delivering winning presentations at last week's Winning Is Everything conference:

What do you want your audience to think, feel and do as a result of your presentation?
Stories rule, stats rot. Stories that work are hilarious, share failure, or are poignant.
Show, don't tell. Use effective images.
When sh!t happens, improvise.

Resources include:

www.presentationzen.com
www.istockphoto.com
www.many-eyes.com (takes words in a document mentioned the most in larger fonts)
www.polleverywhere.com (live audience polling, participants text answers using cell phones, free for up to 30 people)

Eight Principles of Winning Teams

2009-02-02T12:10:00.014-05:00

I am back from Las Vegas having attending the 8th Annual Winning is Everything Conference sponsored by The Advisory Board. The opening speaker, Pat Williams, Senior VP, Orlando Magic was fabulous! He spoke for 90 minutes without referring to any notes, including stories and quotes, and even impersonated several U.S. leaders! Here are his thoughts on the Eight Principles of Winning Teams.

#1 - Talent

Must be coachable and teachable.
Do they understand and accept their role?
Is the talent going to be a good teammate?
Hire very slowly. You can never do enough interviewing, background checks, etc.
Fire quickly. What should be done eventually probably should be done immediately.

#2 - Seven Sides of Great Leadership

Vision, is the heart and soul of leadership.
Communicating your vision: communicate optimism; hope; inspiration and motivation (have these qualities yourself, is caught rather than taught); talk about it (fight through the fear of public speaking).
People skills - empathy, care
Character counts
Competense: Be a lifelong teacher and lifelong learner.
Boldness: Make decisions
A serving heart.

#3 - Committed

To each other.
To excellence.
To competition: Welcome it. Competition makes us better.
To winning. What are you doing right now to produce more wins for your firm?

#4 - Passionate About What They Do

You've got to love what you do - energy, enthusiasm.
It's OK to have fun.

#5 - Always Thinking TEAMS - You can accomplish more together.

#6 - Empower Each Other - Uplift, edify, exhort.

#7 - Respect Each Other - This leads to trust, which leads to loyalty, which leads to love, which leads to friendship.

#8 - Men and Women of Character

Honest
Integrity - "walk the walk"
Take responsibility
Work hard
Perserverence
Humility
Courage

Closing Deals by Hosting Seminars

2009-01-26T08:43:00.002-05:00

Chris Perrino, Principal, Business Development, Barnes Dennig & Co., recently presented this program at the AICPA Accounting Firm Marketing Forum. He knows what he's talking about since Barnes Dennig hosts about 18 events per year. Their seminars are free. The goal of these events is to make client/prospect relationship development easier.

The three critical parts of seminar success - topic, topic, topic. The title needs to be honed, the speaker needs to be honed, and the topic choices should demonstrate your firm's industry expertise. Here are a few sample winning topics:

Economic Reality for Manufacturers
Rich Contractor, Poor Contractor: Pricing for Profits & What Makes a Good Contractor
Building and Engaging Your Dream Board
Tax Reduction Strategies for Developers

Here are a few other tips for seminar success:

Entertaining speakers outscore those with better content.
Send a "Save the Date" 6-8 weeks prior.
Send weekly e-mail reminders starting one month prior.
Expect 20% to 30% no shows.
Consider holding seminars at not-for-profit client locations, e.g., museum.
Do not hold seminars on Mondays or Fridays.
Barnes Dennig's contractor seminars are hold at lunchtime, all others at breakfast.
Consider co-sponsoring your seminar with a law firm or bank. Barnes Dennig hosts four seminars featuring "celebrity" speakers that are co-sponsored.
Invite clients to have lunch with the celebrity speaker after the seminar.
Follow up consistently.

What I've learned so far is that seminars can be an excellent source of new business. It is a face-to-face marketing tactic that demonstrates your firm's knowledge and expertise. Chris' final thought was that hosting seminars takes a lot of time, money, and patience. He's right, and that investment can deliver quite a return for your firm when implemented correctly.

Maximizing Marketing Communications

2009-01-22T11:03:00.002-05:00

Mitch Reno, Chief Marketing and Sales Officer, The Rehmann Group, presented "Top 10 Ways to Maximize Collateral!" at last week's AICPA Accounting Firm Marketing Forum. Mitch was his usual entertaining self and provided us with a scorecard (below) and many examples.

Select and Segment Audience (5 points) - REACH, correct profile, psychographic and demographic understanding
Lead with a Headline (10 points) - USP, questions, emotion, humor, attention grabbing
Create Arresting Visuals (15 points) - Use of color, size, unique images, brand building continuity
Devise Clever Copy (15 points) - Relevant, clear & concise, easy to read, on point, actionable
Add Dimension (5 points) - Pop-up and cut outs, 3D, and interactive
Repeat and Touch Again (10 points) - Frequency, repeat content, create repetition within and across vehicles
Call to Action (5 points) - Next step, easy to find and act
Integrate MarCom Approaches (10 points) - PR, direct mail, events, electronic, broadcast, etc.
Electrify Pathways (10 points) - Linked to emarketing, captures email, self-guided education reach
Track Results and ROI (15 points) - Track and measure the impact of every investment

How do your collateral materials measure up?

AICPA Accounting Firm Marketing Forum '09

2009-01-19T15:41:00.003-05:00

The Annual AICPA Accounting Firm Marketing Forum was held on January 15-16, 2009 in New York City. Walter Timoshenko, CMO, Weiser LLP and Sally Glick, CMO, Sobel & Company once again put together a fabulous program, this year focused on the theme of communication. Topics ranged from branding to collateral to events to crisis communications to social media to integrating all of these components.

I'll be sharing what I learned over the next week. For now I thought it would be fun for you to hear about the best ideas from the perspective of the participants. Enjoy!

Seven Keys to Successful CPA Firm Management

2009-01-13T08:21:00.002-05:00

Capstone Marketing continues its research with Bay Street Group about the Seven Keys to Successful CPA Firm Management. Be a part of the study and receive a free copy of the results! Here are the links to all of the active surveys:

Job Satisfaction and Staff Development:
http://snipurl.com/cpa_staff_dev

Tech Savvy:
http://www.zoomerang.com/Survey/survey.zgi?p=WEB227T89QT852

Client Service, Satisfaction and Expectations:
http://www.zoomerang.com/Survey/?p=WEB228BQ3CVGBZ

Marketing and Business Development:
http://www.zoomerang.com/Survey/?p=WEB227NJYWY3KA

Leadership:
http://www.zoomerang.com/Survey/survey.zgi?p=WEB228E6XGDMGK

People Are Paid to Do That

2008-12-31T12:58:00.002-05:00

I was traveling back home after visiting family for Christmas headed to the baggage claim at Norfolk International Airport. While riding the moving walkway and talking on his cell phone an airline crew member dropped his newspaper. I called to him to let him know but he didn't seem to care. I picked up the newspaper and gave it back to him. Still talking on his cell phone he said to me, "People are paid to do that." Clearly, he was fine with leaving his garbage on the ground for someone else to clean up. Can you imagine if the newspaper was left on the moving walkway, rolling off onto the ground, to be trampled by thousands of people? I was so disappointed in his attitude.

As the New Year approaches let's make 2009 the year in which we are the doers, not those that expect things done for them. Let's examine how our actions affect others and how we can have a positive impact on our world. Let's be accountable. I know that many of you already exhibit these qualities; I always think there is room for improvement.

Happy New Year!

Winning Is Everything

2008-12-22T09:44:00.003-05:00

The Advisory Board - Gary Boomer (Boomer Consulting), Allan Koltin (PDI Global, Inc.), Rebecca Ryan (Next Generation Consulting) and Gary Shamis (SS&G Financial Services, Inc.) - are getting ready for their 8th Annual Winning Is Everything (WIE) Practice Management Conference, January 28-29, 2009, at the Mandalay Bay Hotel, Las Vegas.

You may be cutting back on your conference budget given the state of the economy. However, the value of networking with your peers, learning from first-class speakers, and brainstorming ideas for your firm is greater than ever. In addition to its planned agenda WIE speakers will address economic issues and the importance of teamwork in achieving your goals.

Conference details can be found at www.winning-is-everything.com. Register by December 31, 2008 and receive the reduced Mandalay Bay room rate of $159!

What I've learned so far is that it's important to reenergize your internal battery. I'll be doing that at Winning Is Everything. I hope to see you there!

The Importance of Internal Marketing

2008-12-15T09:35:00.002-05:00

In order to effectively identify clients’ needs and cross-selling opportunities your team must know about the services your firm provides. That was the motivation behind Yount, Hyde & Barbour’s Internal Trade Show this fall.

YHB’s industry and service teams were challenged to create exhibit tables that were set up after their Firm Day meetings and networking training provided by Capstone Marketing. The displays included signs, handouts and promotional items to educate firm team members about their areas of specialty. Many teams also sponsored games and prize raffles.

“Our YHB Trade Show was a huge success,” says Mark Rudolph, President & CEO. “Our team members were able to practice their networking skills as well as learn more about the services and capabilities of our firm. We will use what we learned today in our marketing activities going forward.”

Pictured (left to right): Brian Kling, CPA, Manager; Mark Rudolph, CPA, President & CEO; and, Greg Plotts, CPA, Manager.

What I’ve learned so far is that learning is continuous. Look for new and interesting ways to educate your team about your firm’s areas of expertise. This will result in added value for your marketing program.

Accidental Branding

2008-11-13T14:36:00.003-05:00

I attended the Hampton Roads American Marketing Association luncheon today to hear David Vinjamuri, the author of Accidental Branding: How Ordinary People Built Extraordinary Brands. The program didn't disappoint.

Accidental Branding tells the personal stories of eight entrepreneurs who built some of the biggest and best-known consumer brands in the world. While the book and presentation are focused on products the lessons are equally valuable to professional services marketing.

Here are the six lessons of accidental brands:

1. Do sweat the small stuff. Pay attention to execution.

2. Pick a fight. Define what you are against. Then, people will know what you stand for. Who do you disagree with? Otherwise, you're doing the same as everyone else.

3. Be your own customer.

4. Be unnaturally persistent.

5. Build a myth. Tell your story so it explains the value of your brand. Make other people want to tell it for you.

6. Be faithful. Remember the customers who helped you grow. Get customers to be recommenders.

Click here to purchase Accidental Branding.

How to Motivate and Influence Others

2008-11-12T07:52:00.004-05:00

I was pleased to be a panelist for this AAM Seasoned Marketers (those with 10+ years accounting marketing experience) Call yesterday along with two esteemed colleagues, Sally Glick, CMO, Sobel & Company and Tracy Crevar Warren, The Crevar Group. The call was moderated by Jill Lock, Director of Marketing, Isdaner & Company, LLC.

Here are a few points of discussion along with bonus information that wasn't included due to time running out.

The top characteristics for great marketing leaders to be able to motivate others, most are themes included in Marketer of the Year applications: confidant, able to get things done, a "go to" person, energetic, passionate, able to quantify results, emulates firm leaders, and able to empower others.

The difference between being perceived as a cheerleader vs. an inspirational leader: Find out how you are currently perceived. Ask colleagues, both internally and externally, for unbiased, helpful feedback. Conduct a personal SWOT analysis. What are you skills? What are you known for? Create your personal brand. When was the last time you learned something new? Is your network continuing to grow? Are you considered a mentor/coach or the party planner? Use all this information to walk the walk. This includes leading by example, the way you dress, your work ethic, what you read, community involvement, bringing new ideas to the table and linking these ideas to firm strategy, undestanding the accounting profession and how your firm makes money. These steps will enable you to position yourself not only as enthusiastic but a smart, focused businessperson.

How to motivate young professionals to start marketing: Sponsor Young Rainmaker Roundtables, Emerging Leaders Councils, or other forums to exchange ideas and experience. Also, utilize senior partners to break down generational gaps by sharing their experience in marketing and sales. Find out what motivates them.

How to motivate senior professionals to take on more marketing responsibilty: Do they have clear expectations for marketing activities. Are these expectations included in their performance evaluations. Link their enhanced activities to the growth of the firm and how firm growth will enable them to achieve their personal goals. Also, link their activities to the firm's vision. Be sure to utilize their unique skills.

How to influence partners and gain buy-in when presenting new marketing strategies: Determine your objective, know your audience, try out your strategies in advance, and identify key steps in presenting a solution.

How to deal with senior leaders who are negative and vocal about marketing: Uncover the reasons behind the negativity. Often, it's fear. Build a strong one-on-one relationship; be genuine and gain their support. Educate them about the goals of the marketing program and what it means for them. Tell him, "I want to help your team be successful. I need you to be a part of the solution." Be professional - don't whine about the person to everyone else.

Celebrating successes: UHY Town Hall Meetings, Our Winning Culture Awards; Cowan, Gunteski & Co., Brandies Awards; Stone Rudolph & Henry, Cream of the Crop Award.

BONUS INFORMATION! Books that we recommend on motivating others: The Psychology of Achievement, Brian Tracy; The Fred Factor, Mark Sanborn; The Brand You 50, Tom Peters; Encouraging the Heart, James Kouzes and Barry Posner; The Art of Possibility, Rosamund Stone and Ben Zander.

What I've learned so far is that learning is continuous. Learn something new today. Your curiosity will motivate and influence others.

From the Mouths of Referral Sources

2008-10-30T14:49:00.002-04:00

It's not only CPA firm marketing professionals and consultants who encourage CPAs to ask their referral sources for leads. Referral sources themselves expect to be asked for leads. Recently, I moderated a panel of referral sources for a client's training program. They described good referral sources as those:

who reciprocate leads
who provide value for fees paid
who are reponsive to both the client and the referral source
who are team players and take an active interest in the client and the community
who evaluate the chemistry between the client and the potential referral source

Their additional advice?

Develop a specialty and be the "go to" person for that specialty.
Allocate time for face-to-face meetings.
Get out there and become known.

What I've learned so far is that working your network is both a professional and effective way to generate new business leads. Learn how to ask, reward your referral sources, and watch your firm grow.

2008 Best Accounting Firms to Work for

2008-10-15T12:31:00.002-04:00

Congratulations to the 60 accounting firms named the 2008 Best Accounting Firms to Work for in the first annual program created by The Accountants Media Group, publishers of Accounting Today, Accounting Technology, CPA Wealth Provider, Practical Accountant and host of WebCPA.com and Best Companies Group.

2008 Best Accounting Firms to Work for (alphabetical order, no ranking)

· Anchin, Block & Anchin LLP
· BARFIELD MURPHY SHANK & SMITH
· Bartolomei Pucciarelli, LLC
· Berlin, Ramos & Company, P.A.
· Bernard Robinson & Company, LLP
· Berntson Porter & Company, PLLC
· Biscotti, Toback & Company, CPA's P.C.
· BKD, LLP
· Bland, Garvey, Eads, Medlock + Deppe, PC
· Bond Beebe
· Boyer & Ritter, CPAs and Consultants
· Briggs & Veselka Co.
· Brown Schultz Sheridan & Fritz
· Brown Smith Wallace, LLC
· Burr, Pilger and Mayer, LLP
· Citrin Cooperman & Co.
· Clifton Gunderson LLP
· Cohen & Company
· Cowan, Gunteski & Co., P.A.
· Daszkal Bolton LLP
· DiCicco, Gulman & Company LLP
· DiGiovine Hnilo Jordan + Johnson Ltd.
· Ernst & Young
· Frazier & Deeter, LLC
· Friedman LLP
· GALLINA LLP
· Garcia, Espinosa, Miyares & Company, LLP
· Glenn M. Gelman & Associates, Certified Public Accountants and Business Consultants
· Heinfeld, Meech & Co., P.C.
· Henry & Horne, LLP
· Johnson Lambert & Co. LLP
· Kaufman, Rossin & Co.
· KPMG LLP
· KraftCPAs PLLC
· Kreinces Rollins & Shanker, LLC
· Lanigan, Ryan, Malcolm & Doyle, P.C.
· LaPorte Sehrt Romig Hand
· Mahoney, Ulbrich, Christiansen & Russ PA
· Mark Bailey & Company
· Martin Starnes & Associates, CPAs, P.A.
· McKonly & Asbury, LLP
· PETRINOVICH PUGH & CO, LLP
· PKF Texas
· Porter Keadle Moore, LLP
· Presser, Lahnen & Edelman, PA
· Rothstein Kass
· RSM McGladrey/McGladrey & Pullen
· SAS 70 Solutions
· Sharrard, McGee & Co., P.A.
· SingerLewak
· Swindoll, Janzen, Hawk & Loyd, LLC
· The Rehmann Group
· Wall, Einhorn & Chernitzer, P.C.
· Whitley Penn LLP
· WHITLOCK, SELIM & KEEHN, LLP
· Wilkin & Guttenplan, P.C.
· William Vaughan Company
· Windham Brannon
· Wipfli LLP
· WithumSmith+Brown, P.C.

The ranking of the Best Accounting Firms to Work for will be unveiled and published in the January 5, 2009 issue of Accounting Today.

This survey and award program was designed to identify, recognize and honor the best places of employment in the accounting industry, benefiting the nation's economy, its workforce and businesses. The Best Accounting Firms to Work for list is made up of 60 companies split into three groups: 5 small-sized companies (15-24 employees), 40 medium-sized companies (25-249 employees) 15 large-sized companies (more than 250 employees).

Firms from across the country entered the two-part survey process to determine the Best Accounting Firms to Work for. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration, survey and analysis process and determined the final rankings.

For more information on the Best Accounting Firms to Work for program, visit www.BestAccountingFirmstoWorkfor.com.

Revenue Enhancement Innovation

2008-09-24T16:12:00.002-04:00

I am proud to brag about one of my clients, Wall, Einhorn & Chernitzer, P.C., winners (for the second year in a row) of a Practice Innovation Award sponsored by Practical Accountant. Wall, Einhorn & Chernitzer, P.C. formed its Revenue Enhancement Committee (REC) about 18 months ago to focus client retention and acceptance, and on pricing. The REC meets monthly as well as communicates via e-mail between meetings.

Activities of the REC include:
· Establishing client acceptance criteria.
· Strategizing pricing options for clients and new business prospects.
· Evaluating the lowest realization clients (largest write-offs) for each partner and manager and brainstorming ideas to improve work efficiency and job profitability.
· Developing a Client Evaluation Form (and process) for use by managers to identify problem clients and solutions.
· Reviewing WIP adjustments.

The REC’s efforts have resulted in 10% improvement in realization. This is attributable to many factors initiated by the REC including better pricing, more discussions with clients regarding preparation they can complete to make our work more efficient, more up front discussions with clients about fees, and better management of fees incurred while work is ongoing.

The benefits of the REC’s efforts also include:
· More input from managers on client billing and about clients, in general.
· Many procedural features that improved WEC’s own quality control.
· Identifying additional service opportunities that were communicated to clients resulting in better client service and extra fees.

What I've learned so far is that marketing plays a role in enhancing a CPA firm's revenue. Understand how your firm works and how it makes money. Know your firm's client base. Assist your firm's partners and managers with revenue-enhancing ideas and implementation.

To subscribe to Practical Accountant call 800.221.1809 or e-mail custserv@sourcemedia.com.

"Your call is very important to us ..."

2008-09-09T10:37:00.003-04:00

I recently received an e-mail to renew my online subscription to a well known greeting card company. Since I didn't use it very much (I still like to buy cards in a store and mail them) I decided to cancel my subscription. They didn't make it easy.

I couldn't cancel online. I had to call the company. If I didn't call my subscription would automatically be renewed.
I was placed on hold for nearly eight minutes and had to endure their on hold messages: "Never miss an occasion ...," "Ask about our print and mail option," and the popular favorite, "Your call is very important to us and will be answered in the order it was received."
When a company representative finally came on the line I was offered a free 90-day extension to my subscription. Of course, I declined because I'd only to have to go through this miserable experience again - if I remembered to cancel it in the first place. This is where the sneeky automatic renewal comes into play.

What I've learned so far is that client service is vital to the success of a business. This experience was quite annoying and left me with negative feelings about this company. How do your clients rate your firm's client service? When was the last time you reviewed the processes your firm has in place regarding client contact?

John McEnroe Fires His Accountants

2008-09-08T11:49:00.001-04:00

Tennis legend and insightful sportscaster John McEnroe recently fired his accountants (“John McEnroe Is Still Pretty Complicated,” The New York Times Magazine, August 24, 2008) “only after his former numbers men of 10 years ‘dropped the ball’ several times.” Known for his high expectations and “You can’t be serious!” attitude, I find it interesting that he endured several mistakes before making the change. What I've learned so far is that client retention is an important business strategy. How many dissatisfied clients are hiding in your client list? What are you doing about it?

Marketing Budget Wastes

2008-08-04T16:38:00.002-04:00

A couple of months ago I had the pleasure of presenting “Beyond Basic: How Your Marketing Budget Impacts Your Firm’s Strategy and Your Career” to the AAM-NY Metropolitan Area Chapter. It was an interactive session including how to build a marketing budget, how much CPA firms are investing in marketing, and the impact a marketing budget can have on a marketer’s career. Here are several ways that marketing dollars can be wasted:

• Spending money to reach the wrong prospects/contacts.
• Generating leads that aren’t appropriate for your firm.
• Failing to follow up on leads.
• Overemphasizing new leads.
• Investing in passive initiatives without active participation.
• Losing people on your Web site.
• Failing to get the most out of your email marketing.
• Not knowing what you get for your money.

To receive a free copy of my presentation e-mail me at jcaragher@capstonemarketing.com. Simply put "Free Presentation" in the subject line.

Summer Reading #2

2008-07-26T14:57:00.003-04:00

Arrogant, self-centered, stubborn, and insecure - words that most people associate with ego. But, authors David Marcum and Steven Smith argue that the upside of ego is as powerful as the downside and answer questions that have been a mystery to most people. They provide compelling evidence and matter-of-fact answers on striking the balance between ego and humility to reach the next level of leadership. Case studies are used to illustrate how ego subtly interferes with success but also how ego sparks the drive to achieve, the nerve to try something new, and the tenacity to conquer adversity.

Egonomics: what makes ego our greatest asset (or most expensive liability) makes a great "book club" selection for your firm. With the strong focus on recruiting and retention in the accounting profession today it's important that you learn not only about your behavior but the behavior of your colleagues. "Often the hardest side of business to master is the human side, and nothing is more human than ego. How we manage ego on the human side affects everything we do on the business side, one way or the other."

Visit http://www.readegonomics.com/ to download a free book discussion guide and find links to buy the book.

Summer Reading #1

2008-07-10T13:56:00.004-04:00

This book is a must read for all CPA firm partners and marketing professionals. The authors offer an integrated leadership model that they believe is necessary for professional service firms to remain successful. They identify four critical activities effective leaders must carry out:

- Set strategic direction

- Secure partner and associate commitment to this direction

- Facilitate execution of strategy

- Set a personal example of behavior

Many examples are used from CPA firms, law firms, consulting practices and investment banks.

Put aside the latest murder mystery or "chick book" and read When Professionals Have to Lead. You and your firm will benefit greatly.

Getting a Seat at the Right Table

2008-05-18T20:15:00.003-04:00

I recently had the pleasure of speaking for the Greater Philadelphia and New York Metropolitan Area chapters of the Association for Accounting Marketing (AAM). While the topics were different - Managing Your Marketing Career and Marketing Budgets - a common thread ran through both presentations. How do we get a seat at the table? My initial response to this question is, "Be sure that it's the right table." If it is consider the characteristics of chief marketing officers (CMOs) and how to think strategically:

Chief marketing officers:
• See themselves as strategic thought leaders with an emphasis on the client.
• Their reputations hinge on the ability to demonstrate return on investment.
• Have a chief executive in their corner – someone who gets it and is a very public proponent of a more expansive, influential, and results-driven marketing organization.

Be certain that you are in synch with your managing partner’s vision of where the firm is headed.

Understand the “big picture” of your firm:
•Who are we?
•Where are we now?
•Where do we want to be?
•How will we get there?
•How will we know how we’re doing?

Determining strategies:
•Are we doing the right thing?
•Does the strategy meet/address critical issues?
•Is this aligned with our mission?
•Is this approach financially doable?

Marketing and Mulch

2008-05-04T14:52:00.002-04:00

It's springtime at last! Time to enjoy the beautiful weather and to start working in the garden. My husband and I had five yards of mulch delivered to our house, part of a fundraiser for the Boy Scouts. Proceeds will help defray the cost of summer camp. Part of the deal was help with spreading the mulch, which can be a lot of work! Now, given the choice of spreading the mulch or playing in the truck with the mulch what choice do you think the Scouts made? You're correct. It was much easier playing with the mulch than actually doing the work.

What lesson can we learn from these mulch-spreading averse Scouts? While all of them are interested in attending summer camp they really aren't interested in the work required to raise the funds. To be successful you must be willing to do the work required to achieve the success. This means making the extra effort, working harder, and enhancing our skills. This process may make us uncomfortable. However, to achieve a different or higher level result we must be willing to change how we currently do things.

Happy Gardening!

Three Recession-Proof Marketing Ideas

2008-04-27T16:20:00.005-04:00

Check out the link below for the article, "Three Recession-Proof Marketing Ideas," recently posted in CPA Insider written by Rick Telberg of the Bay Street Group.

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2008/CPA/Apr/Marketing_Ideas.jsp

Bay Street Group and Capstone Marketing are conducting marketing research on several topics related to the successful operations of CPA firms. The first survey is regarding marketing and business development. Participate in the survey and receive a free copy of the results. It can be found at http://www.zoomerang.com/Survey/?p=WEB227NJYWY3KA.

Look for more surveys in the coming weeks.

Sell, Baby, Sell!

2008-04-15T08:34:00.002-04:00

In his book, The Professional Firm50, Tom Peters (www.tompeters.com) shows you how to reinvent work including 50 sections and over 200 things to do. Now that you've survived another tax season it's important to refocus your marketing and sales efforts. The following things to do are adapted from Peters' book:

What is our product? Start a series of sessions around this topic.
Put together a superb Sales & Marketing Kit. Start now. Spend semi-lavishly to make it an unqualified "WOW!" (I.e.: Don't be chintzy!) Consider bringing in an outsider to help you learn the ropes of marketing-selling.
As the process above proceeds, talk "sales" with your clients: Let them help you define your product and its clear (we hope) advantages.
Conduct marketing/sales training sessions. The idea is not Arm Twisting 101. The idea is: This Is Our Cool Product ... and this is why it's cool/special.
Include "Sales Talk" in your weekly operations-projects review meetings.

The Professional Firm50 was published in 1999. What I've learned so far is that there are many timeless marketing and sales activities that will contribute to the growth and success of your firm if implemented consistently.

Top Five Challenges to Hiring Salespeople

2008-04-04T07:46:00.002-04:00

As CPA firms continue to hire salespeople/business developers it becomes increasingly important to utilize a process to ensure a successful hire. Go-to-Market Strategies recently e-mailed an article, "Overcoming the Top Five Challenges to Hiring Salespeople," which is based on their research:

Determining whether the candidate in front of you will translate into the star employee you're looking for.
Affording the talent you seek.
Selling the opportunity.
Differentiating between a Hunter and Farmer.
Assessing a candidate's "motivation."

Read the entire article at http://www.gtms-inc.com/tip_challengessalesrecruiting.htm.

Niche Marketing Success Stories

2008-04-03T10:07:00.002-04:00

Here is the link to my article, "Expand Your Horizons: Niche Marketing Success Stories," published in the April 2008 issue of Journal of Accountancy. Enjoy!

http://www.aicpa.org/pubs/jofa/apr2008/niche_marketing.htm

What Should Lawyers And Accountants Worry About In The Current Economic Downturn?

2008-04-01T11:09:00.004-04:00

Bruce Marcus, a pioneer in law firm and professional services marketing, writes on this topic in the most recent issue of The Marcus Letter, www.marcusletter.com, including:

The answer lies in firm management. And do it now – before the deluge hits your firm.

First, reassess the situation. Check your client list for potential weak companies. Weak companies that may be caught up in the economic downturn become slow payers, and then no payers. Either increase collection methods, or be prepared to let them go and cut your losses.

Second, check your firm. You don't want to give up real talent, but in today's climate, you don't want to carry staff (including partners) who aren't carrying their share of the load.

Third, think productivity. Review all your management processes, from partnership agreements to cash flow management to marketing. Make sure your electronics are up-to-date, and are really saving you money. Look for potential return on perks and club memberships. Preserve capital as best you can. And take your banker to lunch - you may need him or her.

Fourth, look to your marketing. It's not an expense, it's an investment. If you use it wisely, and give the marketing professionals a chance, sound marketing may give you the best return on your investment.

Fifth, pay closer attention to the industries your major clients are in. That's where the early warning signs will be.

Want Your E-Mail Read?

2008-03-28T15:41:00.002-04:00

eRoi, Inc. (Portland, OR) research indicates that Wednesdays and Thursdays have the highest open and click-through rates for e-mail messages. During business hours, most messages were read at 11:00 a.m. and 4:00 p.m.

Day - Reads - Clicks

Monday - 26% - 4%

Tuesday - 23% - 3%

Wednesday - 27% - 5%

Thursday - 26% - 5%

Friday - 23% - 4%

Saturday - 12% - 2%

Sunday - 14% - 2%

AAM Conference - Register Now!

2008-03-20T11:41:00.002-04:00

Don't delay in registering for the annual summit of the Association for Accounting Marketing - Wild On Marketing - June 3-6 at the Paradise Point Resort & Spa in San Diego! There are already 332 registrants compared to 128 at this time last year. Check out http://www.accountingmarketing.org/conference.asp for all the details. What I've learned so far is that the AAM Summit is the place to be for best practices and networking in accounting marketing.

Risky Business

2008-03-11T08:09:00.003-04:00

The December 15, 2007 issue of Marketing News includes a "Back Page" interview with Maryam Banikarim, CMO, Univision Communications, Inc. A couple of her responses were particularly interesting.

Q: What qualities make a marketer great?
A: A great marketer has empathy, a genuine curiosity about consumers and a willingness to take risks.

Q: What qualities undermine an otherwise talented marketing executive?
A: Fear, for the marketing executive; and lack of commitment, for the organization. Risk-taking isn't exactly what most folks are being rewarded for ... but in order to succeed, individuals and organizations alike need to embrace novel approaches.

Taking risks may mean making mistakes. However, every successful person has made mistakes and learned from them. When was the last time you took a risk? Is it time?

Four Reasons to Fire a Client Today

2008-03-03T21:36:00.003-05:00

Rick Telberg, president and chief executive of Bay Street Group, recently addressed this topic on his blog, http://cpatrendlines.com/2008/02/25/four-reasons-to-fire-a-client-today/#more-1000. His post is on target. I'd like to add a few more reasons to fire a client:

Unsatisfactory realization
No growth potential
High risk
Client doesn't need your firm's expertise

What I've learned so far is that most CPA firms won't consider firing clients - even the difficult and unprofitable clients - despite the fact that those firms that regularly do so are more profitable and have happier partners and staff. Perhaps it's time to take another look at this worthwhile strategy?

Why CPAs Don't Market

2008-02-27T11:12:00.003-05:00

I attended an AICPA conference over 10 years ago at Bally's Las Vegas (my notes are on a hotel notepad). A panel was charged with giving reasons why CPAs don't market. Here are a few:

Too busy
Firms don't require marketing skills
Presume clients know what they need and that they'll tell the firm
Egos - CPAs don't want rejection
Don't value marketing hours like chargeable hours
Unfocused marketing efforts
Don't measure results
Negative mindset - don't believe they can do it

How many of these reasons are still true today? What I've learned so far is that effective marketing requires consistent effort. Firms must establish expectations and accountability. Marketing plans focus marketing efforts. CPAs benefit from marketing and sales coaching/training and must believe in their skills. And, perhaps most importantly, CPA firm leadership must "walk the walk" to support their firms' marketing programs.

Elf Yourself

2008-02-25T11:27:00.003-05:00

How many of you received an "Elf Yourself" e-mail during this past holiday season? I received four, one of which included me and my husband. Very funny.

OfficeMax's ElfYourself.com holiday site allowed users to paste their own photos on the heads of four dancing elves and e-mail the results to friends and family. As reported in the February 15, 2008 issue of Marketing News, from its launch in mid-November to just days before Christmas, the site received more than 120 million vists during which more than 75 million elves were created at an average rate of 60 elves per second. Statistics weren't given for ScroogeYourself.com or ReindeerArmWrestling.com.

What would be some options for the accounting marketing world? How about NetworkYourself.com? CloseTheSaleYourself.com? CPAsCreatingFirmLeaders.com? Let me hear from you!

Personal Action Plans

2008-02-18T19:42:00.002-05:00

They go by different names. Gary Boomer (www.boomer.com) refers to 90-day Personal Game Plans. Morrie Shechtman (www.fifthwaveleadership.com) promotes Personal Action Plans to develop financial, personal and professional goals for 90-day, 1-year, 3-year and 5-year time periods. And, one of David Maister's (www.davidmaister.com) favorite stories is about coaching pigeons, "Come on pigeon, you can do it, I will help you." The story relates to setting short term goals, acknowledging achievement, and setting subsequent short term goals in order to achieve the overall goal.

Whatever you call it, writing your goals and making a commitment to achieve them is a key to success. Goals keep you focused and help you prioritize your time. What I've learned so far is that accomplishing goals is very satisfying and is the motivation to accomplish even more.

Cupid's Targeted Marketing

2008-02-14T11:37:00.003-05:00

Cupid is the most famous Valentine symbol, known for aiming his arrows at Gods and Humans causing them to fall deeply in love. Perhaps we can call Cupid one of the first targeted marketers!

Like Cupid's arrows you should target your firm's marketing efforts by developing niche specialties. The place to start in selecting a niche is to conduct a marketing audit of your firm. The key areas on which to focus are the following:

An analysis of your firm’s client base. Segment your clients by SIC/NAIC codes. Then, for each industry, calculate the standard cost, fees billed, yield, percent of standard, average fees billed, average hours billed, average billing rate, and number of clients. Also, analyze your client base by sales volume, geographic location, and services provided. Graph this information to give an accurate picture of your client base. This will show you in which industries you are spending the most time, earning high fees, experiencing high collection rates, offering a variety of services – all opportunities for niche market development. It will also show unprofitable industries, those you should avoid.

An analysis of your firm’s current services and skills. In addition to traditional accounting, auditing, and tax services, what services is your firm competent in providing? What services does your firm provide that your competitors do not provide? Do your partners and professional staff have the skills to build a niche or should you consider hiring an industry specialist?

The trends affecting your clients. Talk with experts and clients in the industry to understand its service needs and hot buttons. Trends that influence an industry niche can create opportunities for additional firm services, expand the scope of services to existing clients, and provide services to new clients experiencing the same trends.

What I've learned so far is that Cupid is a story of love and niche marketing is a successful strategy for CPA firms.