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Deeper Weekend 2014

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CPA firm

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  • Adrian Simmons
    Adrian Simmons
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    Bryan Coleman
  • Greg Kyte
    Greg Kyte
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  • Jason Blumer
    Jason Blumer
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    Jennifer Blumer
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    Scott Kregel
Jason BlumerNo one is really talking about how hard it is to change your compensation structure in a Nontraditional firm. At least, I haven’t seen the articles anywhere. By way of definition, Nontraditional here means that you do not bill your time to the client, or you price all work up front, or you may offer services as a product, allowing your client to pay for their services on a monthly recurring draft or invoice.

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bryanI hear the term “lifestyle business” a lot these days.  It’s not uncommon for this to be, or become, the goal of many fellow Thrivealists. The name itself has a specific allure for those who could never achieve that mythical state of corporate nirvana: the fabled work-life balance.

Since the term has become so common, I wanted to explore what this looks like and how it compares to a previous lifestyle goal.

First, let’s define the term: “A lifestyle business is a business set up and run by its founders primarily with the aim of sustaining a particular level of income and no more; or to provide a foundation from which to enjoy a particular lifestyle.” (Wikipedia) Read more

Category:
Cliff Jumpers, CPA firm, Personal Growth
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Jason BlumerLiving and working in the Thriveal community has been an interesting experiment. I didn’t realize we were actually learning how to run a firm in a community. Further, I didn’t realize we were learning to run a firm in a community of competitors. Working, living, growing, and maturing in a community of competitors has led me to some interesting conclusions as to how we can grow our firms differently now.

 

Let’s look at how we used to grow our firms and how that has changed.

 

How We Used to Grow Firms
We Used to Envy Competitors
Firms that were started long ago adopted a culture of trying to be like other firms – or doing the things that other firms were doing. In a sense, we envied what others had. Similarly, employees at firms would leave to go work at another firm. Of course, most firms used to be the same back in the 80s and 90s. The grass wasn’t greener on the other side, and it was disheartening to find that out when you left one firm for its competitor. Everyone was the essentially the same.
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Category:
Community, CPA firm
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bryanLife can be stressful for the small business owner; it comes with the territory.  So anything that can reduce that stress is more than welcome in my life.  Anyone who knows me well knows that one of my favorite things (in business) is annuity payments on seasonal work.

Seasonal businesses make most of their money during their peak season, and they can take on many forms: ski resorts, beach motels, landscaping, and yes, tax preparation. Read more

Category:
Cliff Jumpers, CPA firm
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bryanOne of the great things about owning your own business is getting to make every decision exactly how you want.  You are in charge of every aspect – how you work, when you work, what you work on.  You can even stock your favorite pens.  As some of my fellow Thrivealists like to say, “You are ridiculously in charge.”

At first glance, this sounds like every disenfranchised employee’s dream, but making decisions is the easy part.  Having to live with consequences of these decisions is completely different.  That’s when things get real.

Whether it’s the impact of hiring your first employee or choosing to work in a narrowly defined niche, you are no longer running the same business you were before that decision. You may even be losing sleep over these effects.  Once you hire someone, you’re in charge of making sure they get paid every single time. Once you narrow your focus, you’re going to see a lot less business come in. Read more

Category:
Cliff Jumpers, CPA firm
Comments:
1

Greg Kyte 2Dress codes are simultaneously infuriating and amusing, like presidential candidates.

 

They were the topic for Jason, Caleb, and me on our last #WhatsNext in the Accounting Profession Blab. I thought it would be a fun, light topic, easy to make fun of, but not too deep. Turns out, dress codes are a quick path to the seventh circle of HR.

 

This week, I asked some friends who work at two different mid-size CPA firms to send me their company’s dress codes. And it turns out they are awesome.

 

For one company, under “Examples of Not Acceptable Attire” they listed “stirrup pants,” “bolo ties,” and “bathing suits.” Bathing Suits?! How the hell do bathing suits get explicitly banned on the dress code?

 

Audit Manager: “Hey, Rebecca, are you ready to head to the client’s office for … what the f**k?! Are you wearing a swimsuit?” Read more