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  • Infographic: Retaining clients by the numbers

    It is a well-known fact that retaining clients at accounting firms can be challenging. There are a couple statistical figures that can paint a helpful picture of the challenges preventing firms from retaining clients. One of the primary reasons firms are having a hard time retaining clients is because the…
  • Your next accounting client wants paperless, mobile services

    Accountants looking for another reason to justify technology investments in their firms should consider this: The firm’s next generation of business clients are likely to require accounting services that are all or mostly digital. Moreover, younger business owners, in particular, expect accounting services that are in the cloud and accessible…
  • Infographic: 3 factors influencing success in business valuation firms

    Success in business valuation practices is driven by many factors, but three have shown to be key components for growing firms, according to market research firm IBISWorld. The first is developing specialized services that provide a competitive advantage. Specialized knowledge and experience allow a more effective, targeted valuation practice, which…
  • 5 Effective steps to retain your best clients

    An obvious determining factor for the continued success of a valuation practice is the retention of its clients. Since customers are not contractually bound, there is an ever-present chance they may leave. In a recent study by 24/7, 47 percent of customers would reportedly choose a competing service provider within…
  • 12 Questions to ask in consultative client meetings

    When accountants go to client meetings they run the risk of either going in without a plan or failing to innovate their usual tactics for understanding their client. Since most business owners view accountants as a commodity, prioritizing the ways you communicate with your client during your annual or quarterly…
  • Avoid pitfalls of a growing business valuation practice

    The baby boom generation is often marked by the free-spirited popularized during the 1960’s and 1970’s. The same generation that preached “peace, love and understanding” also funneled that spirit into some of the most successful entrepreneurial ideas ever, like the iPod and the Roomba. Now, as the generation ages, many…
  • Approach clients to offer valuation services using these discussion-starters

    By Brad Spence, Director of Sageworks Valuation Solution Most business owners aren’t as lucky as 91-year-old media tycoon Sumner Redstone, who famously declared he won’t discuss succession planning for his Viacom and CBS empires because he isn’t going to die. The fact is, millions of business owners are over age…
  • What can accountants learn about pricing and cross-selling from retailers?

    A common mistake among retailers is selling based on price rather than on value, a retail industry consultant wrote recently. When retailers focus on price, it results in customers “cherry-picking the best item while avoiding the profit-filled add ons,” says The Retail Doctor founder Bob Phibbs. “It’s like they go…
  • 3 resolutions to boost your accounting practice in 2015

    When your house is on fire, it’s not a good time to pause and review your fire-prevention strategy. At that point, you’re concerned mostly with smothering the flames or getting out alive. In the same way, once busy season begins, you’ll have precious little time to consider whether your accounting…
  • Accountants: Are you really listening to your clients?

    The holiday season and the close of a year tend to bring out a more pensive person in many of us. The last few weeks on the calendar become a time to think about where you’ve been and where you’re going. Professionally, this is a valuable time to evaluate the…
  • 3 Keys to attracting and retaining higher-paying clients

    Whether your accounting firm is small, medium or large, one of the biggest issues you’re facing is attracting and retaining clients. Survey after survey, including a recent one by Accounting Today, finds this to be among the top issues keeping accountants awake at night.  But most accountants know that it’s…
  • Use technology to retain accounting clients

    Let’s face it: business owners need accountants for more than taxes alone.  Many people who start and run businesses lack the financial perspective to be able to look at their financial statements and see potential pitfalls or opportunities for improving performance. And they desire guidance on how to plan for…
  • Top mistakes accountants are making with existing clients

    Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in "Big Yellow Taxi." But chances are, many accountants have the same thought after a client leaves the practice – especially someone who was with…
  • Why your accounting firm should have a retention strategy

    It is estimated that 40 percent of accounting clients are interested in new services from their accountant. Learn how you can increase your client’s awareness about your firm’s service offerings, potentially resulting in more revenue and happier clients. Download this infographic     Winning new clients is a top priority…
  • How one accounting firm used ProfitCents reports to retain a client

    Identifying improvements a client can make to their business should be part of an accountant’s regular routine, but getting the client to actually take the necessary steps to implement these opportunities can be a challenge. Accountants can use resources such as ProfitCents reports to help bridge the gap with clients…
  • How to retain “A” clients

    In an economic climate where so many decisions come down to dollars and cents – particularly for small businesses – it is important for accountants to illustrate your worth. Perhaps surprisingly, then, more often than not, a client’s decision to leave their current CPA or accounting firm comes not from…
  • How accountants can cross-sell their services to existing clients

    Successful accountants can generate more revenue while keeping costs down by creating new business from their existing clients. The AICPA estimates that it costs 11 times more to acquire a new customer than to keep an existing one. This infographic will give you key steps to keep clients coming back…
  • How to create lasting client relationships in your accounting firm

    Relationships with accounting clients require trust, communication and understanding. Creating real relationships is key to maintaining the prosperity of your firm. This infographic will share ways to create, maintain and move these relationships to the next level.     Download this infographic to learn 9 traits that will transform relationships…
  • 5 steps to uncover mid-year accounting client opportunities

    Summer is a great time for accounting firms to look for fresh opportunities to grow the business. Here are five ways accounting firms can “fertilize” existing efforts in order to jump-start business and grow deeper, stronger roots with clients. 1. TRAIN YOUR TEAM - Do firm members truly understand the…
  • Are your accounting firm's clients cheating on you?

    Roughly 1 in 3 clients uses multiple accounting firms to meet all of their needs, according to a recent survey by consulting firm L. Harris Partners. If you believe that percentage is smaller for your firm, you might be right, or you might be naïve. Another survey by the firm…
  • Top priorities for you to focus on in your accounting firm

      By Lauren Prosser, Director of ProfitCents Professional Services If your CPA firm is like most, its biggest assets are the staff and clients. Knowing more about these assets and gaining greater and more timely insights into the roles they play in the firm's success will enable you to better…
  • Accountants: Help clients with these 3 pain points

      While some clients may view their accountants as tax preparers or compliance resources, accountants are in a unique position to provide additional services that address business clients’ major pain points. Your training, experience and insight can help business owners gain perspective on the financial performance of their business and…
  • 4 Reasons to talk about succession planning with clients during busy season

    Accountants in the thick of busy season have so many demands on their time that it can seem impossible or undesirable to bring up anything new with clients when you meet or call. But this is a great time to explore whether clients have planned for the future of their…
  • How to say “no” to an accounting client this busy season

    Busy season is a time when accountants may find themselves regretting having taken on a particular client, especially when completing the work takes time that could have otherwise been spent on a more pleasant, profitable or valued client. While many accountants would love to have more business to generate more…
  • The truth behind CPA firm client satisfaction

      By Jean Marie Caragher, President of Capstone Marketing The improving economy may cause CPAs to be overconfident about their ability to retain clients. In the 2011 PCPS CPA Firm Top Issues Survey, retention of current clients showed up on every segment's top-five list, while it only made two groups'…