Even if you aren’t a tennis fan you have probably heard of a tennis player named Roger Federer. He has won 17 grand slam titles, more than any other male player. He has been ranked inside the top 10 continuously since May 2002. He won an Olympic gold medal in doubles in 2008 and a silver medal in singles in 2012. The list of his achievements goes on. You get the idea.

Seeing Roger Federer play tennis has been on my bucket list, an item that I crossed off this past weekend when I watched Roger play not once, but twice, at the BNP Paribas tournament in Indian Wells. This experience confirmed three important lessons.

First, hard work pays off. Roger started playing tennis at age 8. Tennis fans worldwide started paying attention when he ended Pete Sampras’ 31-match winning streak at Wimbledon in 2001. As Roger says, “There is no way around the hard work. Embrace it.” That is why Roger Federer makes playing tennis look so easy. And, that is why all of us need to welcome continuous learning, to enhance our skills that will benefit us in work and in life.

Second, enjoy what you do. “You always want to win. That is why you play tennis, because you love the sport and try to be the best you can at it.” We spend a large part of our day at work, taking care of clients, executing projects, mentoring our team. Winners consider why they do what they do and figure out how to rise to the top.

Third, respect is earned. Roger is a gentleman on the court. He plays his game in a quiet, unassuming way. He is a positive influence for the game. He does what is right.  He has fun.   Roger also contributes off the court. The Roger Federer Foundation is committed to empowering African children by providing them with the opportunity for a good education. What do you want people to admire in you? What are you doing to earn people’s respect?

As you can probably tell I am a goal oriented person. I am a list maker. I don’t rely on serendipity, although I do believe that destiny takes into account our hard work, our joy, and our character. Be purposeful in all you do. Take advantage of opportunities. Strive to be the best person you can be.

Now, to cross Alaska off my list.

The 2013 PCPS CPA Firm Top Issues Survey indicates that CPA firms are focused on bringing in new clients. What better time of the year than tax season – when everyone is focused on their tax liability and financial state – to obtain new business?

Here is your challenge: Say “No” to new clients unless you have the following items in place.

1.  Client acceptance criteria. Our SevenKeys to Successful CPA Firm Management research indicates that the Leaders are five times more likely to fire clients that don’t fit their target than the Laggards. This is a powerful statistic since bad clients have an impact on your profits, productivity, and employee retention.

Imagine having to fire fewer clients because you are more selective in the new clients you accept? Criteria to consider include:

• The reason why the business/person is looking for a new CPA firm
• Annual revenue of the business
• Services needed
• Fee
• Growth potential
• Referral potential
• Profitability/realization
• Job risk/complexity
• Timing of the work
• Satisfaction/enjoyment working with clients in specific industries

Then, you need a process to review these criteria and decide whether or not to accept the new business. Depending upon the size of your CPA firm this could be led by your managing partner, partner-in-charge of marketing, chief operating officer, executive committee, or a separate task force.

2.  Capacity. With the 2013 tax season referred to as the “worst tax season ever” CPAs should move cautiously when accepting new business in the next couple of months. Be sure that your firm has the capacity for your current clients and only the most valuable new clients. You don’t want to jeopardize your service delivery, client satisfaction or employee morale by accepting questionable new business.

3.  Evaluation of tax season performance. When you review your CPA firm’s tax season statistics, e.g., gross revenue, net revenue, effective billing rates, and realization, track this information for the new clients obtained during tax season. This will provide a learning opportunity for everyone.

What are your thoughts? Let me know in the comments section below.