Webcast: Success Leaves Clues: Exploring Practices of Extraordinary Firms: Busn Model (XCSLEMI17)
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Today's CPA firm is challenged by a variety of factors: new technologies, intensified competition, continued consolidation, a shrinking labor pool and an inability to incorporate new services into a coherent business model. Moreover, most experts agree morale in the accounting profession is at an all-time low. There is relief, promise and hope. This course confronts the conventional wisdom embodied in the old business model-the way to success is by leveraging people and hours, or "we sell time.

8/22/2017
When: 08/22/2017
12:00 PM until 2:00 PM
Where: Webcast
CALCPA
4173406A
United States
Presenter: Ronald Baker


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Acronym XCSLEMI17
CPE 2 hours
Vendor CalCPA
Category
Management
Level Overview
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for CPAs in public practice, and industry, who are interested in reengineering their business models to adapt to the knowledge and relationship economy.
Registration
Member $60
CPA Non-Member $94

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Today’s CPA firm is challenged by a variety of factors: new technologies, intensified competition, continued consolidation, a shrinking labor pool and an inability to incorporate new services into a coherent business model. Moreover, most experts agree morale in the accounting profession is at an all-time low.

There is relief, promise and hope. This course confronts the conventional wisdom embodied in the old business model—the way to success is by leveraging people and hours, or “we sell time.” This old model will be replaced by a more optimal business model—the Firm of the Future which offers bold, proven strategies for restoring vitality and dynamism to accounting firms everywhere.

Materials are provided as an ebook for this course.

Objectives

  • Recognize the old business model and why it prevents firms from achieving excellence and a better quality of life.
  • Identify the new business model and why it is a superior paradigm for a proud profession.
  • Determine how to restore the dignity, pride, passion in your firm and the profession.

Major Topics

  • Why CPAs are knowledge workers and not service workers; why the difference is critical.
  • Define and address how CPA firms sell Intellectual Capital (IC).
  • The three components of IC and how each one can be leveraged to create wealth for customers of the firm.
  • Why your firm’s people are volunteers and not assets or resources.
  • How the focus on revenue growth and market share can seriously impair your firm’s profitability; what to do about it.
  • Why the traditional metrics of efficiency—over a century old—are no longer relevant to measuring the effectiveness of knowledge workers.
  • The importance of customer selection and the revolutionary Adaptive Capacity Model.
  • Since CPA firms are businesses, and businesses have prices (not hourly billing rates), the importance of Pricing on Purpose will be discussed.
  • Best practices from successful accounting firms around the world that have implemented these strategies.