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Gale's Cornerstone Book
Gale’s book, At the Crossroads: The Remarkable CPA Firm That Nearly Crashed, Then Soared is a delightful parable about a sleepy, uninspired CPA firm that transforms into an accounting powerhouse.
Meet managing partner Joe Abriola who has just learned that his partners are on the verge of mutiny. How does the firm recover and thrive? Spoiler alert—Gale’s growth model swoops in to save the day! The book is an instructive tale that’s filled with valuable insight on achieving growth despite the odds.
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I recently had the opportunity to talk about the latest directions in the accounting industry with Danetha Doe at Libra Tax, a cutting edge firm providing accounting and reporting for digital currency services.
The words “innovation” and “accounting” are rarely uttered in the same breath. Our profession is by nature conservative and slow to change. But over the past several years a movement of CPAs who see and do things differently has slowly been gaining steam.
After getting to know some of its pioneers I’ve concluded that we just may be on the cusp of a significant shift in our traditional accounting business model – the way we create, deliver and capture value.
Reprinted with permission from Accounting Today. When we think of innovation we typically think of a new product or service—something that didn’t exist yesterday that will make tomorrow better. Innovative offerings are essential to the portfolio of any growth-minded CPA firm. However, long term sustainable growth requires a far more comprehensive innovation in your growth…
Reprinted with permission from CPA Practice Management Forum. Teamwork is trending in business these days. From auto repair shops to Fortune 100 boardrooms—everybody is part of a team. I have long championed the idea of collaboration as a growth strategy for CPA firms. Frankly, it’s a hard concept to oppose. But, how do you take…
Reprinted with permission from Accounting Today. When CPA Jody Padar joined her father in his practice after eight years in a traditional mid-market firm, she assumed that his clients would become theirs. But Jody’s dad had a different idea. He believed his daughter should learn how to build a client base, not just serve an…
Reprinted with permission from Accounting Today. Business guru and former General Electric CEO Jack Welch wisely advises, “Change before you have to.” Adapting proactively to shifts in the marketplace is one of the most effective ways to grow your practice. Today’s markets are undergoing dramatic realignment. Understanding the powerful elements at work is essential to…
Reprinted with permission from Accounting Today. Ever run a race and immediately sense that you got off to an exceptionally fast start? It’s a good feeling but if your goal is to beat out the competition there’s really only one way to know for sure how you’re doing. And that’s by marking your progress toward…
Reprinted with permission from the Association for Accounting Marketing’s Growth Strategies. In part one of this article I wrote about the Research Call℠, the power-packed maneuver that gives you insight into an industry or niche you wish to dominate. I described how a well-executed Research Call℠ informs the three elements of strategic growth –…
Reprinted with permission from the Association for Accounting Marketing’s Growth Strategies. I love getting feedback on the articles I write. Sometimes it’s kind praise; other times constructive criticism. When I wrote recently about the Strategic Foundation of Strategic Growth for AccountingToday I got questions – lots of questions. In the article I laid out…
Reprinted with permission from International Accounting Bulletin. One of the hottest firm topics these days is succession planning. In a nutshell the issue is this: As your key leaders retire, who’s in line to take their place? Firms are keenly aware they need to identify the next generation of leaders and ensure that they will…
Reprinted with permission from International Accounting Bulletin Part one of this article focused on strategic growth as a critical imperative for accounting firms around the world. I noted the profession’s historic hesitation to jump on the growth bandwagon and the impact of that decision. The article also noted factors that are changing the profession. In…
Reprinted with permission from Accounting Today. Admit it. You’re good at what you do. Your clients trust your proven ability to help improve their businesses. Perhaps it’s time to take the step of enlarging your vision of yourself from accountant to consultant. Most good CPAs intuitively move beyond tax returns and financial statements, offering insight…
Reprinted with permission from Accounting Today. Practice growth occurs at the intersection of services, targeted buyers and channels of distribution. The channel is how and where you and your buyer find one another. (In dating terms it’s the party, coffee shop or mutual friend that brings you and your date together). Our profession has traditionally…
Reprinted with permission from Accounting Today. I see it all the time. Well-intentioned accounting firms do what they believe are the right things. They sponsor events. They publish articles. They meet and greet. But they don’t grow. At most firms growth is an individual contributor activity. Lone ranger partners do their own thing, attracting…
Reprinted with permission from CPA Practice Management Forum. Practice growth is a delicate balance of art, science, intuition and diligence. One thing it isn’t, however, is marketing. Marketing can be a powerful lever to fuel business expansion. But alone, it will not take you where you want to go. Marketing helps till the soil…
Reprinted with permission from CPA Practice Management Forum. In the October issue of CPA Practice Management Forum, my article on the importance of financial analysis to firm growth left some readers less than totally convinced. One partner responded, “Gale, I read what you wrote about using financial analysis to develop our growth strategy. Quite frankly,…
Reprinted with permission from CPA Practice Management Forum. No matter how good your kid is at soccer it’s still an extracurricular activity as long as she’s in school and nobody’s paying her to play, right? Helping her see that school comes first is part of your job as a parent. Part of your job as…
Reprinted with permission from Accounting Today. A niche, the dictionary tells us, is an ornamental recess, usually in a wall, that holds a statue or other decorative object. But in recent years niche has taken on a more generic meaning as a suitable place for someone or something. In accounting, niche has become synonymous…
Reprinted with permission from Accounting Today. Billy Crystal said it best, “Change is such hard work.” But oh how satisfying it is when the change you make leads to the success you seek. One of the most profound changes firms can make is in the way they look at the market. Historically accountants develop an…