Earmark CPE

Earn CPE Anytime, Anywhere

Earmark Webinars+

Proactive Cash Flow Solutions for Small Business Clients

· ·

Millions of small business owners start every morning the same way—logging into their bank account to see their balance. While 95% of business owners perform this daily check, a recent Cash Flow Compass report from Relay reveals a startling insight: 91% of small businesses face ongoing cash flow challenges. Despite their vigilance, most owners still lack the structures and systems to plan effectively, leaving them vulnerable to late payments, insufficient reserves, and high stress.

Based on a recent webinar featuring Blake Oliver, CPA, and Relay’s own Deanna Zubrickas, this article explores how accountants and financial advisors can move beyond balance-check advising and guide clients toward proactive, data-driven cash flow strategies. By leveraging multiple bank accounts, automated transfers, and regular check-ins, accountants can deliver both financial clarity and much-needed peace of mind to overworked owners.

Let’s dive into some of the key points from the webinar and, more importantly, what you can learn from them. 

1. The Universal Challenge: 91% Face Cash Flow Struggles

In Relay’s Cash Flow Compass survey of over 750 small businesses:

  • 91% of respondents reported dealing with cash flow issues.
  • Common causes include rising labor costs, seasonal fluctuations, and late client payments.

With so many business owners feeling the pinch, accountants have an opportunity to provide high-value advisory services that go far beyond routine compliance work.

2. Overconfidence vs. Reality: The 42% Confidence Gap

One surprising finding is that many owners believe they have a solid handle on their finances—but the numbers tell a different story. On average, business owners are 42% more confident in their cash flow management than is justified by their actual data. This gap creates real risks. 

Blake remarks, “Coming off of a busy season, business owners see a big bank balance and feel invincible. The challenge is helping them realize that money might need to stretch through slower months or seasonal dips.”

This mismatch between perception and reality underscores the need for deliberate systems that track not just daily balances but future obligations.

3. Missing Payments, Personal Stress, and Burnout

Cash flow struggles affect both the business and its people:

  • 31% of respondents missed or were late on major payments, including rent and payroll.
  • 71% reported experiencing significant stress or anxiety due to cash flow woes.
  • 62% said they suffered negative outcomes like delayed projects or losing clients.

For many, delayed payments jeopardize vital relationships with landlords, suppliers, and staff. Even worse, it erodes personal well-being. As Blake noted in the webinar, accountants are uniquely positioned to help clients break this cycle, offering regular check-ins and proactive planning that reduce the risk of crisis—and the accompanying burnout.

4. The Single-Account Trap: Why 24% Use Multiple Accounts

Despite recognizing their vulnerabilities, most small businesses still rely on one operating account for everything. According to the survey:

  • 95% check their balance daily,
  • but only 24% maintain multiple accounts to track and separate funds.

Without additional accounts, it’s easy to mix up funds earmarked for payroll, taxes, or profit distributions. That single lump-sum balance can create a false sense of security. This is where modern tools and advisory play a crucial role.

5. Structuring for Success: Multiple Accounts and Automated Transfers

Relay, the official banking partner of Profit First, offers a clear solution:

  1. Create Multiple Accounts: At a minimum, split finances into an operating account, payroll account, and savings or tax account.
  2. Automate Transfers: Relay lets you set rules so each payment received is split into designated buckets—e.g., 10% for taxes, 15% for profit, and the rest for operations.
  3. Project-Based Accounts: For agencies or firms handling multiple projects, separate accounts for each project can clarify available budgets without waiting for monthly reconciliations.
  4. Receipt Capture & Sync: Relay’s new receipt capture feature (in beta) automatically syncs to QuickBooks or Xero, streamlining bookkeeping and reducing administrative overhead.

By making these processes nearly automatic, business owners start building reserves without having to remember monthly or quarterly transfers. Even small percentage allocations can add up, bolstering that emergency fund. Meanwhile, accountants can monitor activity in real-time rather than sifting through backlogged statements.

6. Advisory in Action: Weekly 15-Minute Check-Ins

A critical element of success is consistent communication. Rather than waiting for quarterly reviews—or worse, an emergency—weekly 15-minute video calls can transform client relationships:

  • Forecast: Quickly update spreadsheets or dashboards, listing upcoming bills, expected deposits, and payroll cycles.
  • Allocate: Ensure auto-transfers are working as intended and address any shortfalls immediately.
  • Plan: Discuss hiring decisions or new projects that might affect cash flow in coming weeks.

This shift from reactive to proactive engagement positions accountants as strategic partners. As clients see their cash flow stabilize, trust builds, and deeper advisory conversations become routine.

7. The Bigger Picture: Reducing Stress and Enabling Growth

When small businesses move beyond bank-balance management, they gain more than just better books—they reduce anxiety, avoid late fees, and seize growth opportunities. With 43% of surveyed businesses having less than a month of reserves, even moderate savings can soften sudden revenue dips or unexpected expenses.

Most importantly, owners get back to focusing on what they do best—running and growing their companies—rather than obsessing over daily balances. It’s a win-win for both the client and the accountant.

Conclusion: Empower Your Clients to Thrive

For many entrepreneurs, the line between personal and business stress is razor-thin. By advocating structured cash flow management—multiple accounts, automated transfers, and regular advisory sessions—accountants can deliver peace of mind while ensuring clients have the resources to grow sustainably.

Ready to see these strategies in action? Watch the full webinar for in-depth conversations, real-world examples, and detailed demonstrations on how to implement a modern cash flow system. Equip your clients to move beyond the daily balance check and lay the groundwork for lasting success.

Finders, Minders, and Grinders: Unlocking Your Accounting Firm’s Potential

· ·

Every accounting professional knows the dilemma: you’re expected to handle complex client relationships, ensure top-notch technical work, and juggle operational tasks—all at once. This all-in-one approach often leads to burnout, stunted growth, and high turnover.

Enter the “Finders, Minders, and Grinders” framework, a well-known model in professional services. 

During a recent webinar, Mark Ferris of Panalitix explained how aligning each person’s natural personality with the right role can transform your practice. Instead of forcing everyone to “do it all,” you identify and empower:

  • Finders (relationship builders who generate new business),
  • Minders (managers who oversee processes and teams),
  • Grinders (technical experts who dive into the detailed work).

By putting people where they naturally excel, you reduce inefficiency, nurture talent, and build a more resilient firm. Below, we’ll explore how to apply this framework to create an environment where team members thrive, clients receive the best service possible, and your business can scale sustainably.

Why Matching Personalities and Roles Matters

When people consistently act against their natural inclinations, they burn out quickly. “If we act contrary to our natural inclination—our personality—it takes quite a lot of effort,” Mark Ferris explains. “That is tiring, and it’s not something we can keep up forever.”

Many traditional accounting practices mistakenly assume everyone can (and should) wear multiple hats equally well—reviewing hundreds of returns, leading team meetings, chasing new clients, and more. While some staffers can manage briefly, over time, misalignment in roles leads to errors, missed deadlines, and unhappy team members.

Skills vs. Personality: It’s crucial to separate learned skills (e.g., mastering new accounting software) from the deeper personality traits (e.g., being comfortable with negotiation or thriving in a structured environment). People can gain new technical skills, but asking a naturally reserved, detail-oriented accountant to spend most of their time selling may not succeed in the long run.

The Three Roles: A Balanced Trio

Successfully running an accounting firm means tapping into three core roles, each with distinct personality traits that maximize productivity and satisfaction.

  1. Grinders
  • Focus on technical tasks like preparing returns, bookkeeping, complex compliance, or advisory projects.
  • Excel with structure and detailed rules, working methodically to ensure accuracy and timeliness.
  • Often patient, diligent, and prefer minimal distractions when completing high-stakes work.
  1. Minders
  • Oversee operations, manage workflow, and coach the team.
  • Share some qualities with Grinders—organized and detail-oriented—but also display strong people-management skills, diplomacy, and warmth.
  • Handle scheduling, capacity planning, and progress checks, ensuring that deadlines, quality standards, and budgets are met.
  1. Finders
  • Excel at building relationships—both with current clients (for retention and upselling) and potential clients (for growth).
  • Socially confident, comfortable with change, and willing to engage in negotiations or tackle conflict head-on.
  • Key drivers of new business, strategic partnerships, and revenue expansion.

When these three roles blend smoothly, an accounting practice functions like a well-oiled machine: technical work is done right and on time, the team runs efficiently, and new business opportunities consistently flow in.

Putting the Framework into Practice: A Real-World Example

Mark Ferris illustrates how to structure an accounting firm around these roles, ensuring each group can handle about $1 million in annual fees before you replicate the model.

  1. Production Team (Grinders)
  • Bookkeepers, accountants, or tax specialists focus on client work.
  • Supported by a Production Manager (Minder), who handles capacity planning, scheduling, and quality control.
  • A Senior Client Manager (Finder) focuses on nurturing client relationships, resolving issues, and spotting upsell opportunities.
  1. Clear Role Distinctions
  • Administrative staff (e.g., office manager, client service coordinator) handles day-to-day tasks like data collection, engagement letters, or invoicing.
  • Each Production Team is shielded from distractions, so Grinders can do technical work, Minders can improve processes, and Finders can build strong client relationships.
  1. Career Path Alignment
  • Team members see exactly how they could progress: a skilled Grinder with strong interpersonal skills might train to become a Finder; a Grinder who loves organizing and leading might transition into a Minder role.
  • Owners can also step into the role that suits them best—whether that’s business development (Finder) or operational leadership (Minder)—and delegate the rest.

With this structure, hitting $1 million in fees signals the formation of a second production group with its own Finder, Minder, and Grinders. This model avoids an unwieldy top-heavy partnership structure and instead grows in self-sufficient, scalable “pods.” As Mark notes, clearly showing these pathways and roles is critical for recruitment and retention—two huge pain points for many firms.

Taking a Business-Minded Approach

A crucial takeaway is to run your practice like a business:

  • Track Productivity: Understand how much of your Grinders’ time is billable, and ensure Minders have enough oversight bandwidth. Finders may have less billable work but drive overall firm revenue and strategic direction.
  • Measure Results: Regularly review profitability at the production-team level. Look for ways to optimize workflow, rebalance roles, or adjust pricing.
  • Plan for Growth: Once a team reaches capacity, replicate the structure. No need to weigh down the firm with too many partners at the top.

Self-Reflection for Leaders and Owners

Even if you’ve been “doing it all” for decades, it pays to pause and consider which responsibilities bring you the most satisfaction. You might discover you prefer Finder tasks—nurturing client relationships—while leaving day-to-day management to a dedicated Minder. Or maybe you truly enjoy the technical depth of the work (Grinder) but feel forced into too many sales meetings.

Realigning your own role can be transformational: you get to focus on what you do best, and you build a leadership team that covers every dimension of the business.

Additional Resources to Guide Your Transformation

  • Panalitix LearningHub: Mark Ferris’s organization offers a wide range of tools, templates, and short courses to help you implement the Finders, Minders, Grinders structure. You’ll find interview questions to hire the right personality type, training modules on capacity planning, and resources on workflow optimization.
  • Coaching & Mentoring: For firms wanting deeper guidance, Panalitix provides group coaching, one-on-one sessions, and specialized projects.
  • Free Webinar Replays: You can watch recordings (like the one linked above) for more detailed discussions of productivity tracking, org-chart design, and incentivizing your team.

The Path to a More Resilient Firm

Adopting the “Finders, Minders, and Grinders” model is about more than a neat organizational chart—it’s a mindset shift toward placing people where their talents shine. The result? More engaged employees, a better client experience, and an accounting practice that can grow without sacrificing service quality.

Whether you’re a solo practitioner looking to hire your first employee or a mid-sized firm aiming to double revenue, the framework helps you avoid the burnout trap and keeps your team energized. In an industry where talent is scarce and client expectations keep rising, this approach could be your edge.

Ready to dive deeper? Watch Mark Ferris’s full webinar replay to gain practical tips on structuring your teams, setting productivity targets, and charting clear career paths. Embrace this powerful framework, and set your accounting firm on a path to enduring success.

Why Top CPAs Embrace Strategic Productivity Over Time Management

· ·

Every accounting professional has the same 24 hours each day, yet some feel perpetually behind while others run efficient, profitable practices—and still have time to enjoy life. According to Mark Ferris of Panalitix, the difference often lies in how purposefully you structure your organization, communicate with teams and clients, and focus on high-value work. 

In a recent webinar, Mark shares that moving beyond old-school time management toward “strategic productivity” involves three steps: (1) establishing effective organizational systems, (2) improving communication, and (3) refining individual mindset.

1. Establishing Effective Organizational Systems

Mark explains that “business is a team sport,” and even sole practitioners must consider how clients and contractors interact with their workflows. He emphasizes the importance of delegation and role clarity as the bedrock of effective time management. You can determine which tasks genuinely demand your expertise by identifying your workload in categories—administration, operations, production (basic vs. complex), management, client relationships, business development, and leadership.

He notes that using an organizational chart and job descriptions “prevents you from doing tasks that don’t require your specialized knowledge,” freeing up time to deliver advisory work or focus on firm growth. Mark also points out that routine procedures (such as client onboarding, payroll, and tax preparation) are best systematized via checklists. These checklists “ensure consistency and make delegation easier,” which allows key leaders to dedicate more attention to top-level strategy and client relationships.

According to Mark, strong key performance indicators (KPIs) bring structure and accountability to a practice. “Whether you track turnaround times, gross margin, client satisfaction, or productivity hours,” he says, “everyone should know how success is measured.”

He further highlights the importance of a consistent meeting cadence. In Mark’s view, “a daily huddle of 10–15 minutes can drastically reduce confusion,” because participants share top priorities, key metrics, and obstacles. He also recommends scheduling weekly or monthly meetings around production planning, marketing, or strategy and documenting actions so that discussions move the firm forward.

2. Improving Communication

“Email isn’t going away,” Mark emphasizes, “so we need smarter systems so it doesn’t run our lives.” One of his core recommendations is batching your inbox—setting specific times each day to tackle emails. He adds that if you open an email, “respond, delegate, or archive it immediately” rather than letting it linger.

To further prevent inbox overload, Mark recommends sharing documents in a central repository instead of sending attachments back and forth. He also highlights the value of a speed culture and response policies, noting that “slow response often undermines a client’s trust.” Setting a standard turnaround time (such as 24 hours for routine inquiries) and prioritizing A-list clients keeps projects on track and clients happy.

Mark advocates designating meeting-free zones each week to make headway on complex projects. “A day without meetings gives you uninterrupted time to focus,” he explains, “and it’s amazing how much more you can accomplish when you’re not constantly switching tasks.”

3. Refining Individual Mindset

Mark challenges practitioners to avoid the trap of filling newly freed-up time with more tasks. “What’s the point of being more productive,” he asks, “if we just keep piling on work until we burn out?” Instead, he advises using calendar blocking and setting deadlines to combat Parkinson’s Law—“work expands to fill the time available.” When you define strict time frames for tasks, you’re less likely to waste energy.

He highlights the value of chronotypes, referencing Daniel Pink’s research, and encourages CPAs to schedule complex tasks when their energy naturally peaks. This goes hand in hand with deep work concepts (from Cal Newport), where one to three hours of distraction-free concentration “dramatically boost both output and quality.”

Pointing to the idea of slow productivity, Mark urges professionals not to equate constant rushing with true progress. “By focusing on quality over quantity,” he notes, “you actually achieve more while protecting yourself from burnout.” He shares several stress-busting tips—like walking breaks, breathing exercises, or simply looking away from screens periodically.

The Pareto Principle (80/20 rule) also applies. Mark observes that “20% of your clients may be consuming 80% of your time,” despite not contributing meaningful revenue. He recommends offloading or restructuring those relationships so you can invest energy in A-list clients who value your services and are open to additional services or advisory work.

Bringing It All Together

According to Mark, practicing “strategic productivity” means joining organizational structure, communication mastery, and a focused personal mindset. Whether your goal is to take on higher-level advisory, grow your firm, or simply have more control over your schedule, implementing these strategies can help you work smarter instead of harder.

He suggests picking one or two techniques—such as instituting a daily huddle or revamping your inbox routine—and taking immediate action. Mark stresses the importance of documenting and sharing any new policies, checklists, or workflows so that “everyone is on the same page, and no one reverts to old habits.”

Mark also recommends exploring further resources, including short courses, events, and learning materials offered by Panalitix, which provide deeper dives into email management, leadership development, and operational process improvements. 
To learn more about Mark’s approach and see these strategies in action, watch the full webinar, where he provides step-by-step advice for applying each concept. Get ready to discover how small, purposeful changes can free your time, delight your clients, and bring greater satisfaction to your accounting practice.

How Top Accounting Firms Build Adaptable, High-Performing Teams

· ·

Are you successfully attracting the best accounting talent, or is your hiring process making it difficult? Many accountants find it hard to bring in and keep skilled professionals in their teams.

In a recent webinar, Giles Pearson, Co-Founder and CEO at Accountests, discussed how making bad hiring choices can be very costly for businesses. These mistakes can lower team spirit and hurt the quality of service provided to clients. He also highlighted that the influence and approach to hiring have changed a lot recently. As Giles notes, “This is not an equal playing field anymore. The power is with the candidate.”

To succeed, accounting firms need to change how they hire new employees. Instead of just filling vacancies, they should focus on a well-rounded strategy that includes careful planning, creative ways to find talent, thoughtful evaluation of candidates, and strong support for new hires. 

Keep reading to learn how your firm can transform its hiring process from a burden into a valuable strength.

Align Hiring with Firm Goals

Making a bad choice when hiring can be expensive, not just in money but also in other ways that can affect the entire team. Giles emphasizes, “It’s the effect on team morale and personal well-being. The stress of hiring someone who doesn’t work out is significant.”

Craft Candidate-Centric Job Ads

Your job advertisements should focus on what your firm offers candidates, not just a list of tasks. Giles shared an example of a CFO position ad that missed the mark: “There was a long list of required tasks… It was all just ‘blah’ to me.” Instead, keep requirements broad and emphasize the benefits to the candidate.

Leverage Employee Referrals

Make use of the people you already know by asking your employees to recommend potential new hires. Giles advocates, “Get your staff involved. Have a formal system for them to bring new people into your business.” Your employees probably know great people they would like to work alongside.

Use Data-Driven Assessments

Using data to evaluate your choices helps you make better decisions. If you only look at resumes and conduct informal interviews, you’re unlikely to find the best fit for your needs.

Use Skills Testing for Objective Insights

Skills tests are a great way to gather clear information about a candidate’s abilities. Giles’s company offers specialized tests for different accounting jobs, allowing employers to assess potential hires quickly—usually just taking 40 minutes to complete. This streamlined process offers straightforward insights into what candidates can actually do, making it easier to find the right fit for the role.

Use Personality Profiles to Focus Interviews

Personality profiles help you tailor your interview questions. Giles explains, “If the profile indicates a candidate might struggle with time management, you can probe deeper during the interview.” This approach allows us to identify problems sooner so they don’t turn into larger issues later on.

Run Structured Interviews for Consistency

Structured interviews make the hiring process more organized and fair. They ensure that all candidates are asked similar questions, which helps businesses compare applicants more easily and consistently. Giles suggests, “Include someone trained in interviewing on your panel. Use competency-based questions to assess ethics, leadership, problem-solving, and interpersonal skills.”

Make Objective Hiring Decisions

Use a scoring system that gives different importance to various assessment results to help us make better decisions, based on data. This method helps minimize personal biases and encourages a more diverse selection process. “Hire the person who can do the job,” Giles emphasizes. “That’s what we’re trying to achieve.”

Extending the Approach to Onboarding and Development

The hiring process shouldn’t stop just when a candidate says yes to the job offer. Instead, use the information you collected during the hiring to help new employees succeed right from their first day on the job.

Tailoring Onboarding Plans

If assessments reveal any skill gaps, create a focused training program. Pair up team members with experienced mentors and outline how their performance will be evaluated. For instance, if a new hire struggles with a particular aspect of tax law, make sure to include specialized training as part of their introduction to the job.

Leveraging Personality Profiles

Understanding personality types can help not just with the initial training of individuals but also with their growth and development over time.

Ongoing Development and Review

Take time to review the test results a few months later to see how accurate they are in predicting outcomes  to help make improvements to our plans for development. Also use the results  as part of ongoing personal development planning.

Conclusion

When hiring, having a well-rounded strategy, aligning your hiring practices with your firm’s goals, using data to aid your decisions, and ensuring that onboarding and employee development are part of the process, you can turn hiring into a significant competitive advantage.

Are you ready to transform how your firm recruits? Check out our on-demand webinar, “Enhancing Your Firm’s Hiring Process,” where you’ll find valuable insights and practical tools. You can apply these strategies immediately to attract, hire, and nurture the talented team your firm needs to succeed.

Remember, in the search for accounting talent, those who have the best hiring strategies come out on top. By adopting a comprehensive approach, you’re not just filling jobs—you’re laying the groundwork for your firm’s future success.

The Blueprint for Turning Your Accounting Practice into a Private Equity Magnet

· ·

Private equity investment is changing the accounting industry in a big way. In the past three years, five of the top 26 accounting firms in the U.S. have received financial support from private equity firms. This marks a notable change in how these businesses operate. As more money comes into the industry, smaller to mid-sized accounting firms are feeling the pressure to either grow larger or focus on specific areas of expertise to stay competitive.

How can we ensure our practices thrive in the face of ongoing challenges? Dave Bunce, Director of Partnerships at interVal, has extensive experience in accounting and mergers and suggests that companies willing to change and adapt their operations can achieve remarkable growth and value. This applies whether they are looking for investment from private equity firms or choosing to operate independently.

On a recent webinar, Dave shared three critical transformations that can help position your firm for success:

1. Moving beyond compliance work
2. Building sustainable recurring revenue
3. Creating scalable operations

Beyond Compliance: Redefining Value

When looking to buy a business, buyers pay close attention to two main things: the people you serve (your clients) and the skills of your staff (your talent). It’s important to remember that it’s not just about how many clients or employees you have; what really matters is the quality of your relationships, and the unique value you bring that goes beyond just meeting basic requirements.

“What they’re going to assess on that client list is how long they’ve been with you, how well you’ve grown or retained them, how well you’ve sold your other services to them, and how you’ve moved beyond the commodity of compliance,” Dave explains.

Offering high-profit advisory services can significantly increase the overall value of a firm. While accounting firms usually sell for a price that is about half to two times their revenue, where you fall on that scale largely depends on how well you provide valuable additional services. Top firms often group their clients into three categories—A, B, and C—based on how much growth potential they have and how open they are to receiving advisory services. This approach allows these firms to concentrate their efforts on the clients who are most likely to benefit from these expanded services.

Great opportunities for offering advice can often be found in the information we have about our current clients. For instance, analyzing $15 billion worth of client businesses, Dave’s team discovered that there was $4 billion sitting in working capital that businesses weren’t using efficiently. This finding opened up immediate chances to have important discussions with clients about smart ways to handle their money, plan for the future of their business, and improve how they manage their financial resources.

Finding new opportunities is only the beginning. Companies need clear methods to effectively offer these services on a larger scale and truly make the most of them. This is why creating strong Client Advisory Services (CAS) is so important.

Building Recurring Revenue with Strategic CAS Development

Many firms looking to increase their recurring revenue often begin by considering CAS. However, they must make an important choice: What kind of CAS do they want to provide?

“Are you looking at being a fractional CFO and bookkeeper? Or are you aiming for a high-margin, value-add CAS practice where you guide business owners through strategic planning exercises?” Dave asks. These are completely different ways of running a business, and each one needs unique strategies for hiring people, using technology, and providing services.

To build a successful CAS practice, Dave recommends a four-step approach:

  1. Define Your Scope: Determine whether you’re pursuing a high-volume bookkeeping model (starting around $500 monthly per client) or a high-margin advisory practice focused on strategic guidance.
  2. Validate the Market: Test your proposed offering with existing clients, understand what competitors charge, and ensure your pricing aligns with market expectations and cost structure.
  3. Build the Processes: Develop standardized workflows and procedures to ensure consistent delivery and scalability.
  4. Assemble the Team: Hire and train professionals suited to your chosen model—process-driven staff for bookkeeping or experienced advisors for strategic guidance.

Creating Scalable Operations

The foundation of a valuable, scalable firm lies in well-documented processes. Yet many firms make the costly mistake of implementing technology solutions before mapping out their core business processes.

“Map those things out—current state. Identify the gaps. Build the process the way you want it. Then identify where technology can fit,” Dave advises.

Start by documenting your key business cycles:

  • New Business to Cash Collection: From acquiring a client to receiving payment.
  • Resource Allocation and Delivery: Managing how work is assigned and completed.
  • Talent Lifecycle Management: Recruiting, training, and retaining staff.

This documentation is important for several reasons: it helps maintain stability when employees leave, ensures that services are provided in a consistent way, and shows potential buyers that the company operates at a high level of professionalism and readiness.

Think about the issue of employee turnover. Firms often invest a lot of time helping new employees learn their roles without having clear instructions or guidelines to follow. By creating standardized processes and having everything documented, the onboarding experience for new team members becomes smoother and quicker. This not only helps maintain a high level of service but also boosts the firm’s overall efficiency and profitability. Additionally, a well-organized business is more appealing to potential buyers.

Only after mapping these processes should you evaluate technology solutions. By mapping out how things work and noticing where there are gaps or inefficiencies, you can make better choices about which digital tools and automation will truly help your business succeed.

Positioning Your Firm for Success

Changing a traditional compliance-focused accounting practice into a more scalable business takes careful planning and a step-by-step approach. By moving beyond compliance tasks, firms can develop regular income sources and create clear, documented processes, which can lead to both immediate profits and lasting success.

Whether you choose to seek investment from private equity firms or decide to stay independent, making these changes can help your firm thrive in a competitive marketplace. Successful firms will focus on building efficient operations and offering valuable services.

Anyone looking to build an accounting firm that’s ready for the future should consider watching the full webinar recording. You’ll get practical strategies, pricing ideas, and tips based on Dave Bunce’s wide-ranging experience in both public accounting and private equity.