“The point of the solution is to work toward a better quality of life,” said Ira S. Rosenbloom, CEO of Optimum Strategies, LLC. Primarily working with small public accounting firms in a quest to be more profitable, Ira helps to steer them to that point with a multi-faceted approach–which includes refining the business so that the engine is firing its cylinders more effectively, creating a happier overall vehicle.
What critical lines of thinking are resonating with today’s small firms? Says Ira, “There’s more interest in value-pricing and also ‘minimum’ fees. As part of that, the conversations need to be had with clients, telling them in a polite way, what is to be expected of them.”
Naturally, accountants often work with clients on keeping a budget–whether it’s a 1040 client who might require a bit of help; a small business with bookkeeping needs; or a billion dollar privately-held business obtaining budgeting and forecasting consulting. But what about the firms themselves? “Firms need to live by a budget on engagements,” remarked Ira. “Pay attention to the warning signals…as they are happening, not after-the-fact.”
On the subject of M&A, Ira offered, “There are so many conversations going on–it’s all more and more active. With competition being so severe these days, there’s plenty of merger and acquisition interest–and dialog–in the profession.”
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