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

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:

1. 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.
2. 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.
3. 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.
4. Once you have people on board, figure out—with them—the "how," or the process via which you'll make your idea a success.
5. Establish key goals or benchmarks—two or three short-term targets and one long-term target.
6. 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.
7. Have fun. When ideas or projects cease being fun, the passion dries up and, typically, the end product suffers.

Unmade Beds and Dryer Sheets

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

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

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

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:

1. Make it non-negotiable.
2. Plan for the usual excuses.
3. Make it actionable.
4. Be accountable.
5. Make a budget.
6. Set deadlines.
7. Put it on the schedule.
8. Do something every day/week/month.
9. Monitor progress regularly.
10. Celebrate successes.
11. Re-assess strategy.
12. 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

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?

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.