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The accounting industry spends billions of dollars each year on technology. Ten short years ago, the majority of that spend was in once-every-few-years equipment and software purchases. A firm could spend a few thousand dollars on a computer and software for each employee, then breathe easily for a few years until upgrades were needed. Today, … Continue reading… “Why Your Firm Needs a Technology Account”

Did you know April is Financial Literacy Awareness Month in the US? As declared by President Biden in 2021, the month of April is dedicated to helping educate the public on long-term financial success. By mid-April, most Americans have handled their taxes and feel the need to be in better financial shape next time Tax … Continue reading… “Leveraging Financial Literacy Awareness Month”

You already provide advisory services to your clients. Cash flow management and forecasting are second nature to you. And, on top of that, you’ve read Profit First. So, why should you become a Certified Profit First Professional? Lessons from the pharmaceutical industry Tylenol. Benadryl. Claritin. These are well-known brand name drugs. So well-known, in fact, … Continue reading… “What’s In a Name?”

We make thousands of decisions every day. “What should I wear today?” “How much should I charge for this service?” “Should I keep this client?” And then the one I love to hate: “What’s for dinner?” AARGH! Decision fatigue is real, and it impedes our ability to continue to make sound decisions. In fact, by … Continue reading… “Let’s Make a Decision”

“Is cash king?” my friend asked me. With all the confidence in the world, I said, “Duh! Of course it is!” But then I started thinking about it. And I wondered… is cash really king? As you read this, you’re probably thinking, “Yes, Ron! Cash is king! It’s the blood that flows through the veins … Continue reading… “Cash is King?”

clean (someone/something) up verb to make a person or place clean and tidy Growing up in the 70’s and 80’s was a ton of fun. We played outside every day, and we made a mess!!! I can’t recall a day when my mother did not tell me to “clean up that mess!” Yes, with an … Continue reading… “Don’t Call It a Cleanup!”

In our last article, we decoded CAS – client advisory services – and uncovered some of the reasons why this offering has grown at more than double the rate of traditional accounting services in the past few years. Given its popularity – and its profitability – it’s obvious that CAS should be an area of … Continue reading… “The Two Elements of Future-Focused CAS”

“CAS” is the buzzword du jour in the accounting industry. Short for “client advisory services,” it’s something all the experts are saying accountants should be offering. But aside from the decade-old “compliance is dead” argument, few are really telling accountants why they should be offering these advisory services. The value of CAS According to Amy … Continue reading… “Decoding CAS”

Financial professionals get a bad rap. We’re seen as “numbers people” as opposed to “people people.” This reputation isn’t entirely unwarranted. We do like our numbers. Numbers don’t lie. They tell the story of a business without the emotional baggage. They cut through the “gut feelings” many business owners use to run their businesses. Numbers … Continue reading… “Making the Numbers Empathetic”

Most financial professionals are familiar with the “price sensitive” prospective client. You know the one: They call or email you out of the blue, and the first question they ask is, “How much do you charge?” Some prospects truly are price sensitive, but many more are “value sensitive.” A value sensitive prospect is willing to … Continue reading… “Value Starts With Asking Your Prospects the Right Questions”

Pricing is the most important thing for you to get right in your business. Improper pricing ultimately leads to lack of profitability and overwork for both you and your team. There are many pricing models to choose from. The most common are: Hourly Fixed-fee Value Of these three models, a tiered value pricing model will … Continue reading… “Why You Should Use a Tiered Value Pricing Model”

Profit First is a game changer for business owners. This cash management system helps entrepreneurs feel like they are in control of their finances, even if they don’t understand how to read their financial statements or have never gotten the hang of budgeting. But many accountants and bookkeepers are resistant to the Profit First methodology. … Continue reading… “Dispelling the Top Five Myths About Profit First – A Bookkeeper’s Perspective”