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Key Metrics That Drive Profitability Up and Hours Worked Down in Accounting Firms: Part 1

Renew firms are boosting profitability and reducing working hours by focusing on high-value clients, adopting subscription models, increasing revenue per professional, and strategically raising prices, all while striving for a balanced 40-hour work week.

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Transitioning to a Subscription Model: The Need for Change

August 21, 2024

This article explores the benefits of transitioning from traditional hourly billing to a subscription-based model in the accounting industry. It highlights the challenges of the conventional approach, such as revenue unpredictability and client relationship limitations, and offers practical steps for firms to successfully adopt a subscription model. By focusing on ongoing client value, leveraging technology, and redefining service offerings, firms can achieve predictable revenue, stronger client relationships, and a healthier work environment.

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Escaping the Tax Season Treadmill: Transforming Your Accounting Firm for Quality of Life and Sanity in 2024

December 15, 2023

As we approach the 2024 tax season, accountants face unique challenges. Most firms have been running multiple business models under one roof and placing themselves last for years. It’s business by default – just the way it’s always been done. But there is a better way, and you likely have a ton of low-hanging fruit that you can grab quickly so that you can move the needle before tax season rolls around again.

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History doesn't repeat itself. Humans do.

October 20, 2023

Another tax filing season has passed and too many firms hoping the post covid world would be kinder and gentler has not quite lived up to the hype. Too many firms are working too much, asking their teams to work too much for the wrong clients and roughing it through the Fall deadlines. 

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First round of pruning done…what next?

December 14, 2022

We received an email from one of our most recent members and thought it might be helpful to share the questions and our responses for the benefit of the broader group.

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ReNew brings together members of the A Better Way program from all over the United States

November 15, 2022

In its first face-to-face event since 2019, ReNew has brought together members of the A Better Way program for two days of personal and business development at the prestigious Berkeley City Club in sunny California.

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Trust is absolute. Value is NOT linear

October 18, 2021

You must make the invisible VISIBLE and toot your own horn or there will be no music.

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Key Metrics That Drive Profitability Up and Hours Worked Down in Accounting Firms: Part 1

Renew firms are boosting profitability and reducing working hours by focusing on high-value clients, adopting subscription models, increasing revenue per professional, and strategically raising prices, all while striving for a balanced 40-hour work week.

Read article