PADGETT®

Really energized after (virtually) spending the week with 300+ of our Padgett franchisees from the US and Canada. We’re just wrapping up our annual Padgett Summer Meeting, and I wanted to share a few takeaways that feel relevant to any small to mid-size accounting firms. The team committed to creating an event this year focused on actionable and practical guidance for the owners in our network with the goal of building enterprise value. There were some incredibly cool sessions on these themes, but here are six standout strategies that are applicable for ANY firm owner interested in future-proofing their business: 1. **Embrace “Wise Growth”**: Scale a robust business model with efficient pricing and systems to avoid amplifying problems as you grow. 2. **Annual Price Adjustments**: Boost your revenue wisely and predictably by adjusting client fees annually to reflect your growing expertise and market value. 3. **Community Involvement**: Invest in being an active part of your community through the Chamber of Commerce, BNI groups, and other local engagements to build a strong local presence. 4. **Brand Alignment**: Align with the Padgett brand to help bolster business value, ease recruiting, and streamline succession planning. 5. **Leverage Technology**: Utilize Padgett’s tech resources and support to enhance operational efficiency and client service. 6. **Practice Management**: Focus on right-sizing and efficiency to pave the way for sustainable growth. Thank you to the speakers and sponsors who helped make this event possible: Dan Martell, Catharine Drake Madeley, Shannon Vincent, Dina Long, EA, Gordon Caudle, Keith A. Washington, 🌟Sherrell T. Martin, Colin Dunn, Greg Batton, EA ADP, Avalara, GoProposal, Syft Analytics, Xero, Keeper.app, SAM, Tallyfor, @Thomson Reuters If you’re ready to learn more about boosting your firm’s value and efficiency, let me know. #Accounting #SmallBusiness #EnterpriseValue #PadgettSummerMeeting2024

Padgett is attending the IRS Tax Forum in Orlando next week! There will be several chances to connect with Roger's Monday afternoon panel, our booth in the exhibition hall, and a Wednesday evening Happy Hour. Join us! https://bit.ly/46mJiSd

Innovation + strategic planning is a match made in heaven, but the real magic happens when your team feels empowered to share their game-changing ideas! ✨ As a small business owner, it's so important to create a culture where creativity thrives and ideas become impactful plans. Discover how to harness your team's collective genius to drive your business forward: https://bit.ly/4ffp1SF

Ever wonder how you could take your business to the next level? It often comes down to understanding your finances better. We've created a guide to help you do just that. It's all about empowering you with financial knowledge so you can make confident decisions and fuel your business growth. Packed with key terms you need to know and stories from fellow business owners, this free resource is here to support your journey. Ready to unlock new possibilities for your business? Download our new Financial Literacy for Small Business Owners to get started! https://bit.ly/3LAt0vq

Exciting news! Padgett has been named a finalist for Xero‘s National Partner of the Year award, recognizing our dedication to excellence and innovation in the accounting field. Even if your local Padgett office doesn't use Xero, this nomination reflects our commitment to providing top-notch support and innovative solutions to all our clients. Thank you for being part of our journey! #PadgettProud #XeroAwards

Sometimes, the key to business success lies in mastering the fundamentals. Which of these basics do you find most crucial for your business? Share your thoughts in the comments! 1. Solid Financial Management: Keep accurate records, maintain healthy cash flow, and partner with a financial professional to optimize your time and finance management. 2. Clear Goal Setting: Establish SMART (Specific, Measurable, Achievable, Relevant, Time-bound) objectives to help guide your business growth and measure progress. 3. Effective Time Management: Prioritize tasks, minimize distractions, and learn to delegate to maximize productivity. 4. Strong Customer Service: Build lasting relationships by consistently exceeding customer expectations and addressing concerns promptly. 5. Consistent Marketing Efforts: Regularly promote your business through various channels to attract and retain customers.

Running a business isn't easy, especially with the ongoing rise in costs. According to a recent Boston Consulting Group report, here are the top 3 areas crucial for controlling costs and staying on track in 2024: 1. Supply chain/manufacturing 2. Labor/non-labor overhead 3. Marketing/sales At Padgett, we understand the challenges you face. Our expertise and tailored solutions are here to help you navigate these financial complexities with confidence. https://bit.ly/467Z1Ve

Every year, Padgett hosts a Summer Meeting for the members of our franchise network. We invite some world-class speakers and develop really incredible sessions that are meant to provide actionable and targeted guidance for our firm owners. It's three days of virtual learning on topics that support our firm owners and their goals for their firm! 😎 It's almost that time again, and we're excited for the start of the Padgett Summer Meeting next week! In the meantime, we're honored to recognize this year's sponsors: ADP, Avalara, GoProposal, Syft Analytics, Xero, Keeper.app, SAM, Tallyfor, and Thomson Reuters #firmowners #practicemanagement #taxandaccounting

Have you caught up on Federal Tax Updates podcast episodes? We've got a new post out on the blog about recent episode, Summer Strategies for Savvy Tax Professionals. Read and listen!

Tax professionals and accountants - final reminder to sign up to attend this great webinar on Monday! https://lnkd.in/edjvc62R