[Growth] Embracing Growth: Strategic Insights from Accounting Today's 2024 Firm Growth Forum As industry leaders, we're always on the lookout for growth strategies that resonate with the evolving business landscape. The insights from Accounting Today's 2024 Firm Growth Forum are a testament to the multifaceted approach required for sustainable growth. One key takeaway is the strategic curation of clients. Opsahl Dawson's philosophy of choosing quality over quantity and inviting clients to succeed elsewhere if they don't align with the firm's direction is a bold move that has paid dividends. Another intriguing point is the concept of being 'overstaffed' as a growth strategy. While counterintuitive, especially during a staffing crisis, having extra capacity allows firms to take on new business without overburdening existing staff, fostering a healthier work environment. This aligns with the idea of building a firm culture where the leadership sets the tone, not just in words but in actions, as demonstrated by Al-Nesha Jones' implementation of four-day workweeks. Moreover, the emphasis on marketing muscle and transitioning from a transactional to a relationship-driven business model cannot be overstated. As the accounting profession evolves, firms that embrace advisory services and build strong client relationships are the ones that thrive. It's a clear indicator that the future of accounting lies beyond traditional services, and firms must adapt to deliver high-value, noncommoditized advisory services that clients seek. Lastly, the shift from selling hours to selling transformations is a paradigm shift that all service-oriented businesses, including ours at DealCoach.io should take note of. It's about delivering outcomes and value, not just tasks. This approach is at the core of what we do—helping companies accelerate growth and close deals faster through strategic deal management, pipeline management, and forecasting. These lessons from the accounting realm are universally applicable and underscore the importance of innovation, client-centricity, and forward-thinking in driving growth. #GrowthStrategy #ClientCentricity #Innovation #BusinessDevelopment https://lnkd.in/eqDknd9D
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🔎BILL CMO Sarah Acton asks Jason M. Blumer, CPA to discuss firm growth and share what he believes firms really need to scale successfully. As the CEO of Blumer & Associates, CPAs, PC and founder and CEO of Thriveal CPA network, Blumer has a history of applying innovative practices to drive business. 💡He provides some real-world insights in this Q&A. From CPA Practice Advisor: "In my role at BILL, I have the opportunity to talk to accounting firms from across the country about the internal and external pressures they face. Increasingly, I’m hearing from firms that are leaning into growth areas and innovation opportunities to help set themselves apart from the competition. With a solid plan in place, firm growth can become less daunting and instead be a viable part of a successful business strategy.” Read the full article here: https://lnkd.in/g9KpHzQm #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Growth #GrowthMindset #Scale #Innovation #Strategic #Strategy #Training #Insights
Building a Scalable Accounting Firm: A Q&A on Growth Strategies for Accountants
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Curious about the keys to growth for #accounting firms? According to Accounting Today, their 2024 Firm Growth Forum in San Diego highlighted actionable insights from experts on achieving growth through multiple approaches. From staffing strategies to client selection and marketing, learn how firms are navigating the profession's evolving landscape: https://bit.ly/3yVHF17
Lessons in growth
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Recently, I came across an intriguing article on Inside Public Accounting that discussed how independent firms can best compete against PE-funded firms. The options presented were Use outsourcing and technology to reduce the workload on entry-level staff; Raise compensation; Promote our culture; All of the above. While these are all valid strategies, I believe there’s a crucial element missing from this discussion. Marketing! Strengthening Your Brand: Your firm's brand is more than just a logo or tagline. It's the promise you make to your clients and the experience they can expect. A strong brand differentiates your firm in a crowded marketplace, particularly against PE-backed competitors. Think about what makes your firm unique and how you can communicate that effectively. Focusing on Industry Niches: Specialization can be a significant differentiator. By focusing on specific industries, you can develop deep expertise and build a reputation as a go-to firm within those sectors. This approach not only attracts clients looking for specialized knowledge but also allows you to command premium pricing. Enhancing CAS Departments: Client Accounting Services (CAS) represent a growing opportunity for firms to offer higher-value services and deepen client relationships. CAS can streamline your clients' operations and provide them with valuable insights, making your services indispensable. Optimizing Pricing and Packaging: How you price and package your services can make a significant difference in your firm's profitability and client satisfaction. Consider moving away from the traditional hourly billing model to value-based pricing. This approach aligns your interests with those of your clients and can lead to higher revenues and better client relationships. Are you ready to take your firm to the next level? Let's start a conversation about how these strategies can be implemented in your practice. https://hubs.li/Q02Jpcqv0 #Accounting #FirmManagement #ClientAccountingServices #BrandStrategy #IndustryNiche #PricingStrategy #MarketingForFirms #CPA
Concerns Abound Over PE Impact, But Firm Leaders Believe They Can Compete - Inside Public Accounting
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Marketing Coordinator at The Growth Partnership | Marketing Analytics | Demand Generation | Social Media
🔍💼 Curious about the evolution of accounting firm names? From historical to inventive, this article from Inside Public Accounting dives deep into the fascinating transition. Discover the factors driving these changes and gain valuable insights into crafting impactful firm names. Read the full article here: #Accounting #FirmNames #Evolution #IndustryInsights #InsidePublicAccounting 📊💡 https://lnkd.in/e9bn_cnZ
From Historical to Invented: The Evolution of Accounting Firm Names - Inside Public Accounting
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As we look further into 2024 we see opportunities and difficulties. Do you see them too? “It's a great time to run an accounting firm — except for how hard it is. While many members of Accounting Today's Top 100 Firms and Regional Leaders are reporting record revenues, more work than they can handle and a number of exciting emerging opportunities, they are also facing a daunting roster of serious challenges.” #practicemanagement #accountingfirms #cpafirms #managmentissues #accountingnews #predictions
The worst of times: Issues in accounting in 2024
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The worst of times: Issues in accounting in 2024 By Daniel Hood Senior leaders from Accounting Today's Top 100 Firms and Regional Leaders share their biggest concerns for the year ahead. #cpafirm #cpapartnersllc #cpapartnersmp
The worst of times: Issues in accounting in 2024
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Talent Executive - Accountancy Practice | Accounts | Audit | Tax - Hertfordshire | Bedfordshire | Buckinghamshire | Berkshire
When we think of accountants, the mental image often involves traditional professionals immersed in spreadsheets and financial statements. But accounting has undergone a remarkable transformation. Today, accountants are more than number-crunchers; they’re driving business growth and innovation. 💥 This article effectively challenges outdated stereotypes, highlighting the strategic impact of the profession. I’m genuinely curious to learn how different organizations portray the accounting profession. So, how is this sector represented at your company? 🤔 https://bit.ly/4cb2Ue2 Bethan Hill
It's time to rethink what it means to be an accountant - Accountancy Age
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Breaking news: Rea & Associates clinches #71 spot on INSIDE Public Accounting's 2024 Top 100 Firms List! Celebrating our team's commitment to client success and industry leadership. From tax to advisory, we're here to help you thrive. #IPATop100 #AccountingExcellence #ReaCPA
Rea No. 71 on INSIDE Public Accounting's Top 100 List 2024
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Breaking news: Rea & Associates clinches #71 spot on INSIDE Public Accounting's 2024 Top 100 Firms List! Celebrating our team's commitment to client success and industry leadership. From tax to advisory, we're here to help you thrive. #IPATop100 #AccountingExcellence #ReaCPA
Rea No. 71 on INSIDE Public Accounting's Top 100 List 2024
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Breaking news: Rea & Associates clinches #71 spot on INSIDE Public Accounting's 2024 Top 100 Firms List! Celebrating our team's commitment to client success and industry leadership. From tax to advisory, we're here to help you thrive. #IPATop100 #AccountingExcellence #ReaCPA
Rea No. 71 on INSIDE Public Accounting's Top 100 List 2024
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