Business Model
How To Recession-Proof Your CPA Firm
 How To Recession-Proof Your CPA Firm Today’s post is about how to recession-proof your CPA firm. As you may have seen in the news, it’s all about recession, recession, recession! Firstly, I want to make it clear that I am not into fear-mongering. Despite the fact that I warn accounting firms about the dangers that…
Read More3 Ways CPAs Can Position Themselves As Their Client’s #1 Trusted Advisor
3 Ways CPAs Can Position Themselves As Their Client’s #1 Trusted Advisor I had an interesting conversation with someone earlier today. It was about the ways CPAs can position themselves as their client’s #1 trusted advisor. It’s interesting because there’s a study that was done on business owners that asked, “Who’s your number one trusted…
Read More3 Pricing Mistakes CPA Firms Make
3 Pricing Mistakes CPA Firms Make I just finished off a full day of coaching calls with my CPA firm clients from around North America. I was thinking about a topic for this week’s blog post and realized that I have been chatting a lot about the 3 pricing mistakes CPA firms make.  Today I…
Read MoreWhy the Billable Hour is the Wrong Model For Your Accounting Firm
Why the Billable Hour is the Wrong Model For Your Accounting Firm Yes, you heard me right! I’ve been a CPA for over 30 years and I can confidently tell you that the standard billable hour is the wrong model for your accounting firm! Not only do I write about this but I believe it…
Read MoreBest Strategy for CPA Firms to Get Consistent Cash Flow
Best Strategy for CPA Firms to Get Consistent Cash Flow Today I dropped my daughter off to her sketching class and noticed all of the nearby local businesses, like a tack shop for horse riding, a pet grooming, and supplies shop as well as a veterinary clinic. The interesting thing about all of these businesses…
Read MoreHow Accounting Firms Can Offload Bad Clients
Today I’m here at Butterfly Gardens in Brentwood Bay, BC. I wanted to chat with you today about how accounting firms can offload bad clients. Before I get to that, here’s an interesting fact I just learned while at Butterfly Gardens. There’s a sign that says that there are at least 150 different species of…
Read MoreHow Accounting Firms Avoid Hitting the Revenue Ceiling
How Accounting Firms Avoid Hitting the Revenue Ceiling Calling all CPAs. How Do Your Accounting Firms Avoid Hitting the Revenue Ceiling? As you know, inflation has been going through the roof and the price of everything is getting higher and higher. However, at the same time, accounting firms haven’t been increasing their prices and continue…
Read MoreAccounting Firms Need to Stop Doing Personal Tax Returns
I’ve said this so many times…accounting firms need to stop doing personal tax returns. There’s been a big push in the accounting industry lately where everybody moving to outsourcing. You know I’ve always said that if you’re doing outsourcing as your first step as your value, as a way of crushing your prices so that you can compete on price, then you’re dead. It’s a brutal model, you’re going to suffer.
It’s time to stop using this outdated and archaic pricing model. Move over to a value-based subscription model for your clients. You want to serve your accounting clients the way you were professionally trained – focus on advising the clients while working in a model that works best for you.
Read MoreHow to Attract Talent To Your CPA Firm
How to Attract Talent To Your CPA Firm There’s a problem that I’ve heard from multiple accounting firms over and over again…they just cannot figure out how to attract talent to their CPA firms. This is a major epidemic quite frankly. Finding quality staff and team members to work in your accounting practice is a…
Read MoreShift your accounting business model – for your clients and for your freedom
Erik’s Rant: Shift your accounting business model and get back your freedom! I am fired up! I just got off a mastermind call with a group of my CPAs in the Accountant Success Formula program. I’m really fired up and pissed off. I was talking to one of the members of my group and they…
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