Survival of the Fittest...CPA Firms!

Remember the old joke about the two ostriches? As they walked down the beach, one stuck his head in the sand and said "Where did that other fellow go?" This ostrich was blinded by his own actions. This is sometimes true for many of us. We may get so caught up in our day-to-day work responsibilities, putting out client fires and trying to live life that we don't see the signs of the times.

A recent news article in the WebCPA Daily reported that about half the small and medium-size CPA firms surveyed believe economic recovery is on the horizon in the fourth quarter of this year. I hope they are correct but I doubt it. In fact, I believe the signs I see on the horizon are growing darker. Increasing unemployment, new tax increases everyday and runaway government spending aren't the combination of events most CPAs and business persons see as recovery!

Like the economic recession of the 1980s, CPA firms that survive and grow in the years ahead won't be those with their heads in the sand! Survival of the fittest CPA firms depends on more than becoming "mean and lean" by cutting operating costs and terminating employees. Successful firms will be those that take the time NOW to rethink their objectives, types of services, staff development and target client profiles.

Many CPAs and business persons rely on the cycles of history as their basis for decision making. Because of the worldwide causes of the current recession, and because of the influential supporters of worldwide solutions to our problems, it is safe to say "We have not gone this way before!" CPA firms, particularly smaller ones, must get ready for the events of the next few years.

Over the next few months we'll be providing many detailed articles and updates for the Update Subscribers on our website, www.cpafirmsupport.com . At CPA Firm Support Services, LLC, our objective is to help smaller CPA firms succeed in the months and years ahead. Please visit our site and join us as we get ready for the future together!