HANDY LITTLE ADD ON

Studies have shown that businesses can increase productivity from 10% - 70% by implementing dual monitors and paperless technology.

The Microsoft study on dual monitors can be viewed at: http://research.microsoft.com/displayArticle.aspx?id=433

An IT professional shares his personal experiences with dual monitors at:
http://www.windowsitpro.com/Windows/Article/ArticleID/47573/47573.html

To hit the higher end of the productivity scale, consider adding on the UltraMon utility from Realtime Soft. This extremely affordable handy little add on adds two new buttons to your open windows. The first button allows you to move an open window from one monitor to the next with just a single mouse click. The other button allows you to stretch an open window across both monitors with just a single mouse click.

For more information about UltraMon and its other features, visit: http://www.realtimesoft.com/ultramon/

Sometimes Someone Else Says It Better

I believe that Knowledge Worker based businesses (CPAs, lawyers, technology consultants, marketing consultants, etc.) should Value Price their services, and provide customers with a Fixed Price Agreement up front.

Many others believe the same way. Some of them started The VeraSage Institute. The VeraSage Institute is the most revolutionary think tank for professional service firms. They challenge the professions to break free of practice methods that hurt the profession, undermine their purposes, and fail their customers.

Among their quests: Burying the Billable Hour.

This means eliminating hourly billing and the timesheets that go with it. Professional service firms are encouraged to run their firms by “pricing on purpose” and making customer service and customer value number one priorities in their practice. Such firms need to re-align their corporate culture, and also recognize that their team of professionals are knowledge workers, not machines.

In order to assist professional service firms with these goals, they have developed the VeraSage web site. For more information, visit: www.verasage.com

As a result of their quest, the founders and followers of VeraSage, spend much of their time dealing with the technical issues of “how to” make the necessary changes. Ron Baker, CPA (the original value pricing guru), recently took time to reflect on this, and remind professionals, the real reason for value pricing – to better serve our customers. To read Ron’s blog, visit: http://www.verasage.com/index.php/community/comments/its_the_quality_of_life_stupid/

More importantly, read Chris Marston’s blog he links to at the end of his blog. Chris is one of the founders of the Exemplar law firm, a law firm in Boston dedicated to the principles of Value Pricing. I could not have said it better myself.

Happy 212 Day!

Earlier this week it was 212 day. (February 12 is 212 day.)

Remember my Happy New Year post?

I challenged business owners to read the 212° book from Simple Truths, and implement the 212° strategy in their business and in their lives.

This week (the week of 212 day) seemed like a good time to write this reminder to take it up an extra degree in all you do.

Remember, as the book points out...

It's your life.
YOU are
responsible for your results.
It's time to turn up the heat.

From this day forwards, commit to operating at 212 degrees in
everything you do. Etch
it into your thinking - into your
being. Apply it to your actions. It
guarantees to increase
your results positively and, in so many cases,
increase
your results exponentially.

If you need help in applying the 212° concepts to your business, please think of using a Principa accountant to be your business coach. me. A member of the Principa Alliance can work with you to identify areas in your business that are not realizing their full potential and help you improve them to build a stronger, more profitable future. This is a step-by-step process that includes creating a strategic plan, plan implementation, systems development, customer service and team training, and ongoing monitoring and management advice.

For more information about the 212° book and to view the video, visit: www.SimpleTruths.com

“If you keep doing what you’re doing,
you’ll keep getting what you’re getting!
One definition of insanity is to keep doing
the same things and expecting different results.”
Stephen Covey

Recently, I had a meeting with a prospective customer.

It seems that he is disappointed with his current CPA, and is looking to make a change. Last year when his income tax returns were completed, he had a sizable balance due. This forced him to borrow money to pay his taxes. He felt that there should have been a more proactive approach towards planning on the part of the CPA, and that his CPA should have warned him well before his returns were due that a large payment would be needed.

For years he had been paying his CPA by the hour. The final bill usually came within the $500 range. Although, one year he was not pleased when the bill was $850.

This scenario point to one of three situation:

1. The CPA routinely charges less than $1,000 for a tax return. In order to make enough money, this means that the CPA must prepare 500 – 1000 returns each year. That’s a lot of returns! When a CPA takes on that much work, she is unable to provide quality service and has little time to be proactive when it comes to tax planning.
2. The client assumed it was the CPAs responsibility to take the lead in tax planning matters. The CPA assumed that if the client was interested in tax planning, then the client would ask. Hmmm… what is it they say about assuming? (Note: In this paragraph I used the term “client”. That is because in these situations, CPA call their customers “clients”, and customers act like “clients”. More about that in another blog.)
3. Somewhere in the relationship, the client identified himself as a $500 client. The CPA treated him accordingly.

The prospective customer came to me hoping to find a CPA who was more interested in his business and more interested in providing proactive planning services. What’s interesting, though, is that when I asked his budget, he said: “I’d like to stay in the $500 range.”

LESSONS TO LEARN

To paraphrase Steven Covey:
If you keep paying $500 for accounting services, and expect better service – You’re crazy!

Communicate with your CPA. Let her/him know what level of services you want, and what your budget is. Be willing to pay for quality work and service. What is it they say about paying for advice? “Good advice never costs, it pays.”

Be sure you have properly identified yourself with your CPA. Every CPA firm should have a definition for being an A, B or C customer. And, they should be willing to share the criteria with you.

Be willing to change.

Never be surprised by your CPAs services or their bill. Get a fixed price agreement in advance.

Remember – You’re the customer.

HOW I HANDLED THE SITUATION

I provided the prospective customer with a proposal. The proposal had six different service levels, and each level was priced accordingly.