Leading indicators best represent the business’s headlights and tell you where the company is going and what obstacles to watch out for. By the time your financial statements alert you to an issue, it’s too late, but by mixing certain operational data points with financial data you can provide leading indicators for your team to avoid pitfalls.Read More
Setting a pricing strategy is arguably the most intimidating process for any new advisor. It’s complicated and scary enough that there are pricing consultants to help you price… your consulting services. Let’s simplify this a bit. The fact is, everyone has a maximum amount they are willing to pay for a good or service. It’s your job to get as close to that as possible.Read More
What isn’t measured, isn’t managed. While this is true for every business, it’s especially crucial in eCommerce. Why? Because the success of your eCommerce store is largely based on unit economics, and almost everything in eCommerce is measurable.Read More
It may sound like some cheesy, business school mumbo-jumbo, but setting a mission for your advisory service offering is as important as it is for any business. After all, this isn’t just a piece of marketing fluff, you’re looking to build a real profit center in your advisory offering.Read More
Alan Weiss, author of Million Dollar Consulting (which I highly recommend reading), describes a consultant as someone who has a unique set of skills and talents that help to create the value-adding components that their client’s businesses lack.Read More
The guide to understanding and tracking the financial health of a dental practice.Read More
Every modern medical practice owner has to do two things: provide excellent healthcare and grow a thriving business.
Most physicians have the first part covered - they started their practice because they believe they can offer a higher quality of care than the next physician.
The second part - growing and managing a thriving business?
That’s tricky.Read More
Your ability to stay organized and focused on the most important key performance indicators can be the secret to your success. If your goal is to grow your salon business in the next year, these metrics can help guide you down a clear, concise path.Read More
Like any other undertaking, building a valuable advisory service offering means you need to make a plan.Read More
So you’ve bought into the idea of offering client advisory services and you’re ready to make a plan. You need to research what’s going to be most helpful, most valuable, to your clients. Rushing this process will leave the majority of your clients saying, “🤷 cool… dashboards… what do I do now?”Read More
All Malartu accounts have parent/child relationships. When you enable Malartu Portfolios, your account becomes the parent account to all of your client accounts (child accounts).Read More
Many accountants think advisory work is just offering balance sheet ratios or asset ratios because that’s what the reporting tools of yesteryear have lead you to believe. In reality, adding value as an advisor is about understanding your client’s deepest business challenges and providing them with the data to make better decisions.Read More
Getting ready for your first advisory meeting with a new tool can be a bit daunting, so we’ve put together this helpful checklist of how the pros do it with Malartu.Read More
For example, you’re reviewing how margins have trended over the last 12 months and there’s a particular area where the margins seem to dip. By meeting with your client in their account, you can easily adjust these block options to drill into that month, view by week or by day to see that something happened in a certain week.Read More
Scaling your advisory operations is all about repeatability and process. Repeatability in how you implement with clients as they subscribe to your advisory service. Process in how you provide unique and relevant insights to that client’s business.Read More
How to set drive traffic to template boards and land new clientsRead More
Consolidated financial statements are often required by banks and investors and prove crucial in estimating tax expense. Unfortunately, the process of creating these statements is often long and tedious.Read More
A popular question I get from accountants looking to make the transition is around pricing advisory services vs compliance work since it’s vastly different in nature. It’s unfamiliar territory: compliance work is typically more task-oriented and advisory tends to be a bit more subjective (although it shouldn’t be, but I’ll save that for another post). As you’ve heard time and again, the answer is value-based pricing. It’s about pricing for perceived value of your services rather than marking up the cost to deliver them.Read More
Traditional real estate portfolio management reports provided by accounting firms include a Profit & Loss Statement (P/L), a Balance Sheet (B/S), and Statement of Cash Flow.
The Profit & Loss shows the income and expenses for any given period, the Balance Sheet shows a company’s assets and liabilities for at any point in time, and the Statement of Cash Flow shows how the cash was utilized for a given period.
The flaw of traditional accounting reports like these, and P/Ls alone, is that they report the facts for a given period but fail to provide any actionable information. What factors contributed to those outcomes?Read More