DWolfskehl

Are You a Commodity or an Expert?

How do you answer the question for your firm: “Are you a commodity or an expert?" Most CPA firms are commodities. Building a micro-niche boutique within your firm and capitalizing on the expertise of your partners and staff can change your answer. Now ans... Read >

Building Your Next Generation Team

The AICPA released the findings of a study of CPA firms across the country a few years ago. One startling discovery of the report was that more than 60% of partners in CPA firms are eligible for retirement by 2020. This fact presages significant change wi... Read >

Who Are the Right People for a Micro-Niche Boutique?

Building a successful and profitable micro-niche boutique in your firm depends upon your ability to build a business around the expertise of a member of the firm. The market might be telling you what your firm does particularly well. You might quickly ide... Read >

The Shattering of the Crystal Cathedral

Just weeks ago the leadership of the Crystal Cathedral, a Christian ministry founded by Robert H. Schuller back in the 60s, filed for Chapter 11 Bankruptcy protection in the California courts. The leadership of the church, which broadcasts every Sunday mo... Read >

Building Your Firm with the Five Pillars of Practice Growth

Building a professional or financial services firm today requires a balance of multiple strategic activities. The first step in building your firm is to develop a strategic growth plan. Your plan will reflect your hopes and dreams for your company in both... Read >

Sixteen Ways Succession Planning Helps Your Business Now

I continue to be surprised by the number of business owners and partners who believe they do not need to be concerned about maximizing the value of their firm or with succession planning yet. The truth is that succession planning forces owners and partne... Read >

Eight Vital Lessons in Niche Building

I have written a good bit lately about the importance of niche building in growing a professional or financial services firm. I have also written about the value of building micro-niches in adding products and/or services that bring in premium pricing. To... Read >

Succession Planning for the Events People Tend to Overlook

Nobody wants to talk about death, disability or divorce. These are three life events that can impact your plans and the future of the business you own. In fact these are the three events most people think of when the subject of succession planning or buy/... Read >

How the Small Firm Can Win in Competition with Big Firms

Most people know the story of young David who felled the giant soldier Goliath with a single well-aimed stone from his slingshot. The story has given hope to many people in many situations – the little guy really can win. The little guy can take on a “gia... Read >

BUSINESS OWNER SUCCESSION PLANNING FOR DEATH, DIVORCE OR DISABILITY

If you own or are a partner in a business, you should have a succession plan (or buy/sell agreement or contingency plan) to facilitate a seamless transition for the company in the event of your divorce, disability and/or death. The succession plan should ... Read >

Succession Planning is Probably About More Than You Thought

If you are a business owner or you are a partner in a business and you do not have a clear and adequately funded succession plan (or buy/sell agreement) you are putting everything you have worked so hard for at risk. The omission will sit like a ticking t... Read >

How to Build a Niche and Grow Your Practice

The struggle for many professional services firms is the perceived competition between various options for the niche you will try to develop. There is certainly something to be said for an approach that chooses the niche to focus on by just deciding that ... Read >

Why Grow Your Practice by Building a Niche?

Working with professional services firms that want to build their business, I meet partners who want to grow their business in specific ways. One practice development tactic that is perennially popular is to build a niche. This is a very good way to grow ... Read >

Why You Are the Right Person to be Your Clients’ Financial Quarterback

Building an accounting/CPA firm from the inside can involve a number of marketing tactics. The bottom line is that building a practice from the inside increases your wallet share with current clients. This usually means providing additional services to yo... Read >

Checklist for Maximizing Your Business Opportunities

A checklist can be used for quality control, for accuracy checks, as a memory assisting device, as a roadmap through a complex project and even as a guide to preparing an income tax return. As a professional you use checklists every day but do you have on... Read >