What I learned facilitating a BDO Alliance area meeting. A partner spoke about his firm’s COVID experience. He said, “historically firms are slow to implement, but COVID forced them to act quickly”. Remote working was a minor piece. A major core benefit was the virus accelerated increased contact with clients to talk about issues there…
The Visionary Group, a consultancy to CPA firms, has released the Enterprise Assessment platform, a cloud-based advisory tool for accountants to identify client needs, win new prospects and drive firm growth. Over the years of serving accounting firms, Visionary has identified a common problem: Only a minority of staff and partners are responsible for bringing…
The president of The Visionary Group, Bob Lewis was recently featured in Accounting Today. Changes in the CPA M&A world post-coronavirus The crisis has not passed, but CPA merger and acquisition discussions are already increasing. Calls are coming in from firms that are not sure what to do. Firms we spoke with last year who…
The president of The Visionary Group, Bob Lewis was recently featured in Accounting Today. Can your firm thrive from the coronavirus? What a great question. Right now, most CPA firms are working through the CARES Act. This is going to create a short-term revenue windfall, but once that slows, the extent of real client damage…
Minimize Client Loss Post COVID-19 Many clients will experience poor Q1 revenues. Some may experience possible business ending revenue issues. Clients will be looking to managing costs and will need to establish a plan to restore lost value and return to their prior profit levels. How can you protect your firm and help clients? Proactively…
Will coronavirus create risk or opportunity for your firm? The economics are clear. Schools are closing, businesses are telling people to work from home. Corporations are predicting lower earnings, which will lead to layoffs. Restaurants, movie theaters, bars and tourism-related companies are all predicting revenue losses. Some businesses will suffer, while others will flourish. The…
The president of The Visionary Group, Bob Lewis was recently featured in Accounting Today. Monetize Clients While Building Their Value This is what CPAs should be focused on. The client’s perceived value is not in compliance. It is in how they can use you to build the value of their business, help them make more…
The president of The Visionary Group, Bob Lewis was recently featured as a Succession Planning expert in Accounting Today. So, you failed your succession test. Now what? So, you failed your succession test. (Take the test here). Now what do you do? This is not a comfortable place. You have three options: Read More…
Owners need to understand that conducting a family succession requires a very different path than an owner who is looking to sell to an outside party. Most family successions involve some form of gifting in order to begin transferring family wealth. It’s a different mindset than trying to get maximum value for the company. …
The President of The Visionary Group, Bob Lewis, recently had an article published in Accounting Today. Click the link below to test your firm’s succession plan and find out if you are as prepared as you think!