Optimize Your Practice
Several tools can help owners improve their accounting practices. Our books — Accountant’s Flight Plan and On Your Own, published by the American Institute of Certified Public Accountants (AICPA) and presented in workbook style — are a great place to start. Both books include stimulating questions at the end of each chapter.
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MAKE MORE WITH LESS EFFORT WHILE IMPROVING THE VALUE OF YOUR PRACTICE
Accountant’s Flight Plan is filled with practical, time-tested strategies to help take your practice to a higher level. Using real-world scenarios, practice owner testimonials and written exercises, certified public accountant Brannon Poe offers keen insights for developing customized, straightforward approaches.
You’ve got to have a plan. Whether you are a prospective practice owner or seasoned veteran, Accountant’s Flight Plan will help you reach your destination with greater surety, success and satisfaction.
- Hone your focus, eliminate frustration and grow your bottom line;
- Achieve meaningful work-life balance while increasing profitability;
- Add more value for clients;
- Better manage or eliminate difficult and slow-paying clients;
- Improve billing rates;
- Increase new business through referrals; and
- Enhance the value and salability of your practice.
Going solo doesn’t have to be a game of trial and error. Careful planning can make it one of the most rewarding decisions of your accounting career. The second edition of On Your Own, revised by Brannon Poe, leads the new solo practitioner through each stage of creating a firm, bringing vision to reality and nurturing the practice to make that reality a success.
On Your Own has five parts that take you chronologically from start to success. Each chapter is rich with strategies as well as stimulating follow-up questions to help you define your goals and plans.
Encouraging You To:
- Create concise mission and vision statements;
- Establish goals, standards, attitude and skills that reflect a successful practitioner;
- Anticipate financial needs;
- Define family involvement;
- Shift from employee to owner;
- Understand potential stumbling blocks;
- Advance your practice with a specialty;
- Decide whether to buy a practice;
- Choose a form of organization for your practice;
- Build client relationships;
- Stay focused on the future and more.
Be crystal clear about the details to ensure your agreement is airtight. This article first appeared in The CPA Insider. A few years ago I read The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. One of the business adventures the Oracle of Omaha encountered in his career […]
There is a big difference in having a buyer and having the buyer. Almost anyone can come up with a buyer or two…or even three. What you must keep in mind is that every single buyer will value an accounting practice differently. Ultimately, the value of any business is going to be the present value […]
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