Ed Mendlowitz

Mail or forward information to clients to let them know they are on your mind.

Use this time of year to do some casual research.

About nine years ago one of my clients went to an attorney for an estate plan. I asked to be involved and was told I wasn’t needed so I sat it out.

I had a meeting recently with an accountant and was led into his office while he was on the phone. I overheard him telling a client that he wouldn’t be able to get his work done as promised because his humongous client needed something done right away, and “you know how that is!”

I have found that clients, while they completely trust us for everything in their business, professional and financial lives, do not trust us when we price our services.

Last week I conducted a breakfast meeting of the Withum Partners’ Network and I was asked a question that was not answered, so I’ll answer it in this column.

Thanks to technology, we see clients less, but speak and interact with them more, maintaining and strengthening the relationship.

The tax reform bill introduced by House Republicans doesn’t give the low 25 percent income tax rate for pass-through businesses to accounting firms and other professional service firms, and the rules for getting around it are complicated.

A few months ago I suggested that becoming an expert generalist as a niche was a possible career track for someone in a larger firm. I received a lot of feedback that caused me to rethink the column, and I have.

A month ago I wrote that I “gave away consulting and coaching” services. However, that is not the whole story and because of the calls I got, here is some more of what I did and do.

Many accountants have just completed their “second” tax season finalizing the extended returns, and life must go on.

The reality of being a partner in a firm, regardless of the size, is that you are running a “one-partner business.”

In many firms the reality is that most partners below the “dictator” at the top are treated as employees—maybe a little more respectfully, but still as employees.

Clients buy something they need or solutions to problems, not hours. Here is a situation that has actually occurred in a client’s legal matter.

Besides clients and partners, my primary interactions are with other accountants who call me with their practice management questions.

Actually I do not sell coaching, mentoring or consulting services to clients—I sell solutions to problems.

What's the best way to evaluate the performance of your firm's employees?

Reducing client load is important for a partner to grow.

Partners need to grow individually because that is what will propel the firm’s further growth.

My best hires were those I hired out of school and trained.