7 Trends Firms Must Reverse to Improve Profitability

Steve’s popular keynote, “7 Trends Firms Must Reverse to Improve Profitability,” is a no-nonsense view of how to stop the bleeding and restart the earning in your CPA Firm.

Profit margins in many firms have been decreasing for the past five years, as salary and benefits costs have soared.  Utilization has decreased, and many more clients have requested and received fixed fees for their engagements.

These negative trends and solid realistic recommendations for profitability improvement will be addressed, including:

  • How to lower the need for working capital
  • Controlling salary and benefits costs
  • Reversing the downward utilization trend
  • Why you must change your service delivery model
  • Get paid by every client
  • How to institutionalize the value of your practice

Steve has presented this, and numerous other topics, at CPA conferences & retreats throughout North America. If you haven’t heard him yet, consider booking him for your next partner retreat!

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More details about Steve’s “7 Trends” full-day program:

Improve Profitability Now and in the Future

7 major negative trends in the profession you must reverse!

Profit margins in many firms have been decreasing for the past 5 years as salary and benefit cost have soared, utilization has decreased and many more clients have requested and received fixed fees for their engagements. These trends are simply not sustainable in the future. Using his experience and the results of his extensive research, Steve Erickson will address these negative trends and make solid realistic recommendations for profit improvement.

During the morning session Steve discusses the realities given the current demographics of CPA firms, offer ideas and potential solutions and solicit input from the attendees on how these negative trends can be reversed:

  • Increasing salary and benefit costs over the past 10 years
  • Deceasing utilization at all levels in CPA firms
  • Decreasing profit margins for the past 5 years
  • Increasing investment and capital requirements

In the afternoon session Steve continues with topics concerning employee engagement and client service, using his 2010 research gathered from over 1800 staff members of the profession.

  • Continuing passive governance and management in CPA Firms
  • The use of reactive client service delivery models that commonly fail
  • Decreasing employee engagement and leadership in the profession

During the day Steve offers his thoughts & discussion points on:

  • How to lower the need for working capital
  • A program to reduce salary and benefit costs as a percentage of net revenue
  • Resource management methods to reverse the downward utilization trend
  • How to improve your service delivery model for greater client satisfaction and retention
  • How to manage client expectations about your fees and credit policies
  • Active management techniques for greater performance and profitability
  • Institutionalize the value of your practice by rethinking succession plans
  • How to more fully engage your staff for greater performance
  • How to standardize a change order process that really works
  • Work/Life Success℠ techniques to improve accountability and profitability

And much more

During these highly interactive sessions, Steve explores how to implement these changes with the attendees. The overall goal of the session is to make sure everyone has actionable ideas to improve profitability and performance in their firms.

Download Steve’s Keynote Sheet for all his available topics.

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