10 strategies for accounting success

Edward Mendowitz
Ed Mendlowitz

Accountants often learn best from their fellow accountants, those who have faced and overcome the same challenges and obstacles — or at least shared the same frustrations. 

In his long career as a practitioner and firm owner, Ed Mendlowitz faced and overcame just about every challenge an accountant can, and in his slightly-less-lengthy career as the author of the "Art of Accounting" column for Accounting Today, he laid out exactly how he solved all those problems, as well as shared his many creative and innovative strategies for growing a firm, delivering extraordinary value to clients, managing staff, navigating a career in the profession, mitigating the insanity of tax season and much, much more.

Ed recently submitted his 600th and last column, but he was kind enough to share the selection below of his favorites; while the majority of his columns offered timeless advice on management and running a business, these look likely to remain particularly relevant no matter the current trends.

Yogi Berra and the Cheshire Cat

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Art of Accounting: Heading toward the future

The leaders of small accounting firms frequently turn to Ed for advice; in this column, he shared his advice for firm owners on how to find a direction for their practice, and why it's important to have short- and long-term plans — even if they change over time.

Getting the most when you hire

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Art of Accounting: A template for hiring an experienced manager

It's not easy to find an experienced manager for an accounting firm and to set the right expectations and salary for them. Ed offers practical tips in this column for getting what you pay for when hiring a manager and not screwing it up.

If you listen, they'll tell you

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Art of Accounting: Clients' changing needs

Understanding and responding to the ever-changing needs of clients are key traits of a successful accounting professional. Ed discusses the importance of listening carefully to clients and developing services tailored to them.

It's the money

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Art of Accounting: How to end the self-created pipeline problem

Low starting salaries are among the main reasons why so many firms are having trouble finding adequate staff. In this column, Ed explains why firms should offer more competitive starting salaries and how it can help smaller firms compete against the larger ones.

Don't put it off

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Art of Accounting: It's never the 'right time' to do something new

Don't wait to try something new, Ed advises. Now is the time to do it and not to procrastinate, whether it's trying out a new time-saving device or just doing something different.

Turnover is eternal

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Pawel Gaul
Art of Accounting: Everyone will be leaving you

Expect to have turnover in your staff, Ed points out in this article. It's only natural for people to move on eventually, but make sure you have a strong system in place for onboarding and training new hires who can pick up the work.

Wanted, not needed

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Art of Accounting: Make your services a must-have, not a must have to have

Most clients work with an accountant because they have to; here, Ed shared a host of ways to make them want to work with you, and to fully establish yourself as their "most trusted" advisor.

Looking ahead

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Art of Accounting: 10th anniversary column, looking forward to next 10 years

On the occasion of his 10th anniversary last year of writing his weekly column, Ed reflected on the need for accountants to prepare for the decade ahead, with the need to stay hungry and continue to learn, grow and understand what will be new because the next 10 years won't be the same as the past.

Really rest in peace

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Art of Accounting: What happens to your practice when you die  

All accountants — but sole practitioners in particular — need to prepare for the eventuality of their own death; here, Ed lays out some of the most important issues to consider to make sure that your clients and your practice are protected. It also includes a free 74-page handout.

Fragile reputations

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Art of Accounting: Your worst employee defines your firm

The bigger your firm is, the more its reputation is out of your hands, Ed explains — it's in the hands of every one of your employees, and that means you need to devote serious management time to making sure they're dealing with clients the way you want them to.

A bonus

Bonus
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Art of Accounting: 9th anniversary column.

Still haven't got enough of Ed? As a bonus, this column includes nine more of his favorite columns from the deep past, written on the occasion of the ninth anniversary of "The Art of Accounting." They include his advice for newly minted partners, his choices for the best leadership and management books, a look at why Black people are underrepresented in accounting, and more.
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