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My 260th Column at AccountingToday.com

November 27, 2018

Yesterday I posted the 260th weekly column at accountingtoday.com completing five full years. Between writing a twice a week blog here since Feb 2012 and that column, it keeps me pretty much on my toes to come up with ideas, which so far, I’ve been fortunate to being able to do.

The AT column is autobiographical and is directed to accountants trying to manage their practices better, but in some manner it applies to all businesses. This blog is directed to clients where I address their concerns helping to reduce my fees while making them a more knowledgeable client which is much better for them, and me, in the long run.

The theme of yesterday’s AT column is to not pass up opportunities that come your way. I have been pretty successful but not because I sought out special situations, but rather because I took what was in my path. That column presented ten illustrations that show the fortuitous nature of some of my successes and how I followed through with them. You are welcome to read that column and here is a link: https://www.accountingtoday.com/opinion/art-of-accounting-completing-five-years-of-art-of-accounting.

Last week two colleagues told me about situations they passed up on, while also relating the stagnation of their practice. One told me she was given a resume of someone that seemed perfect for her firm, but while she was overloaded with work, she did not think she could fully use that person until the beginning of tax season – around February 1. When I was in that position I would have hired that person to relieve some pressure until then. The cost of the two months extra salary could not make too much of a dent in the firm’s profits; while freeing up the owner to get things in better order to start tax season and perhaps enable her to do extra yearend tax planning for some clients that need it and who would pay for the additional services. The other had a request for a fixed fee proposal to perform an audit for a company that the accountant did not feel he knew enough about the industry. That happened to me many times and do you know what I did – I worked my ass off to learn as much as I could including consulting with colleagues. Two lost opportunities. A shame.

Part of being successful is not passing by opportunities that fall in your lap.

In case you are interested in part of my life as an accountant, the first 156 columns have been published in a book you can purchase at https://cpatrendlines.com/shop/call-me/ and claim a 25% discount by entering coupon code: EdSentMe.

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