Running a Firm (789)

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Business Coaching: Go to the Video

coach goldenDo you know what’s changed the most in business over the last 30 years? It’s not computers. Or phones. Or travel. Or technology. It’s business coaches. Business coaches didn’t exist thirty years ago. At least not the way they exist now. Oh I’m sure there were some super rich executives in the 1970’s living in LA and snorting cocaine who thought it would be a great status thing to have a “business coach” at their side to impress their friends. But nowadays everywhere you look there’s a “coach”. Read more...

The Bottom Line on Emotions

As we move into 2011, we see the economy picking up and businesses starting to grow their teams, it's important to recognize the effect emotions have on performance and consequently the bottom line. In fact, higher Emotional Intelligence (EI/EQ) has been positively correlated with increased employee engagement, lower turnover, and improved job performance. The core attributes for success in today's workplace.

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April Fool's Day: A Viral Message?

April FoolLet’s assume you are too young to remember (or to have heard about) the 1938 infamous broadcast by Orson Wells based on the novel by H.G. Wells, The War of the Worlds. Although the radio broadcast took place on Halloween, it could have easily been an April Fool’s Day prank. What made the broadcast so believable was the format; it involved a series of news bulletins detailing the invasion of planet Earth by Martians.  The broadcast led to varying degrees of public panic during the transmission followed by even more uproar afterwards. It took several days to debunk the prank since we didn’t have Twitter or newsfeeds to instantly clarify what was real and what was not. Orson Well’s prank could be viewed as an early example of a social media virus run amuck. Read more...

Seeking Social Media's Business Results

Jody PadarA lot of people might not see the business value in Jody Padar's tweet asking what AT&T's proposed purchase of T-Mobile could do to the cost basis of AT&T stock. Or they might not find any point to a comment that "Pokémon is dead" after the earthquake and tsunami that hit Japan. But the point of the CPA, whose firm is designed to present a non-traditional image helps in networking.

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Online Reputation Management

At one time, the Internet must have seemed like a paradise for a small firm, with seemingly limitless opportunities to spread the word on the firm's brand and to find new clients. Today, technology easily supports these advantages, but not every aspect is entirely positive. Clients - both the happy and unhappy ones - now enjoy unprecedented power to voice their opinion about your practice. According to a recent survey by Nielsen Ratings, 70 percent of people trust the opinions of strangers online, and the mushrooming of websites where consumers can freely comment on businesses has helped create a "Reputation Economy" where a few bad reviews can hurt a firm's bottom line. Read more...

The Importance of Tax Season Marketing

Daffodil ArtWhat do clients and daffodils have in common? Each year, we have purchased bulk bags of daffodils. Over the years we've planted thousands in our garden, but last year we were too busy and didn't get around to it. Spring comes early here in California and by March 1st nature's display is already starting to unfold. As I walked around the garden today, one thing became abundantly clear, our bulb population has suffered because we didn't make time to plant new bulbs.

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CPA Firms Turn to the Cloud

Accounting firms were once heavily involved in selling accounting software, but left the business in numbers. Now, many regional firms are rejoining the software channel, although in new ways. But is that a sign that cloud-based applications are hitting the mainstream. Read more...

Macs Still Sparse at Firms

Jim BourkeIt's been a very good couple of  years for Apple. Mobile professionals of all types are adopting its iPhone and iPad in numbers. And that includes tax and accounting professionals. But when it comes to having Apple computing products in the tax and accounting office, it's just not happening because there simply aren't key applications for Apple platforms.

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More Effective Marketing for Free

There is almost nothing worse than spending valuable time and hard-earned cash on a marketing program that gets no results. It's a double-whammy: You've invested time and money in something to grow your business, but got nothing in return and incurred the opportunity cost of not doing something else that might have yielded a return.

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Putting a Practice Up for Sale

About a decade ago, in the heyday of firm consolidation, giants such as American Express gobbled up several firms a month - and all of them weren't large; many were small, local firms just ripe for the picking. Although the consolidators were usually mum about their payouts, the formula then, in terms of valuing a firm, was about 1.5 times annual billings plus 10 percent, according to professional journals and research at that time. More recently, the economy has made the market tougher for consolidators and valuations have dropped as a result. Read more...

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