3 Ways Your CPA Firm Can Facilitate Your Strategic Growth Planning
While there is a perception that accounting firms spend all their time looking in the rearview mirror to prepare taxes and financial statements, the right accounting firm can help you see where you’re going with forward-looking strategic advice for getting there.
Here are three examples.
1. Growth by Acquisition
Have you explored the short and long-term cost savings and synergies that can be achieved by purchasing a key vendor or supplier? A forward-looking CPA firm can create financial models for you to analyze these type of vertical acquisition opportunities.
Would you like to purchase a competitor? If so, here’s how your CPA firm can help you grow by horizontal acquisition:
- Estimate the true value of your competitor’s business
- Analyze what their balance sheet, income statement and other numbers show
- Determine whether the value been artificially inflated by one-time earnings like federal pandemic assistance
- Look at how “normalized earnings” compare
- Determine if there are undisclosed potential liabilities looming like lawsuits
2. Product or Service Line Expansion
Adding a new solution can be a great way to increase revenues, but will it be profitable?
A CPA firm can answer these questions:
- Does it hold up under thorough financial modeling?
- What is the cost of any hiring you will have to do to support the new product or service?
- Does it fit well into your overall strategy or is it a case of “shiny object syndrome”?
3. Marketing Modernization
Effective marketing – including a coherent strategy, messaging and content that resonates with prospects, a website and promotions that generate leads, and outbound campaigns that get attention – makes selling and growth far easier.
A forward-thinking CPA firm can provide a financial view of your marketing strategy and help gauge the effectiveness of its execution with key performance indicators (KPIs).
Can Your CPA Firm Do All This?
At Kirsch CPA Group, our accounting and advisory services are designed to provide you with a forward-thinking, holistic strategy for achieving your financial goals.
Don’t leave your business growth to chance, or to an accounting firm that doesn’t take the time to understand your business and your goals. Whether you’re ready to move forward next month or next year, we can help with all of the above, possibly starting with a complimentary balance sheet review, tax structure review or initial profitability analysis.