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Revenue North Presentations
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Chris BleesPresident & CEO |
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Kurt KoffordDirector |
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Austin BuckettManager |
BiggsKofford was happy that three members of the management team got the opportunity to speak to many of Colorado Springs’ top businesses at the Revenue North Small Business Growth Summit, which was held January 20 and 21.
If you missed their presentations, you can find them here:
- Chris Blees, Strategically Preparing and Optimizing Growth Prior to Implementing an Exit
- Kurt Kofford, Use Pricing to Maximize your Profits and Stop Leaving Money on the Table
- Kurt Kofford’s handout
- Austin Buckett, Growth by Acquisition: Understanding the Acquisition Process
If you have any questions about how you can take your business to the next level of growth, value and success, please feel free to contact us.
Entrepreneurial Corner | The Seven Key Numbers You Need to Know to Succeed in the New Economy
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Kurt KoffordDirector |
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Austin BuckettManager |
This morning’s Entrepreneurial Corner presentation covered the seven key things you need to know to succeed in the new economy.
You can find the PowerPoint presentation here.
If you have questions about specific areas where your business might need an extra focus or about the presenation, please contact Austin Buckett or Kurt Kofford.
Interested in attending our future events? Contact Stephanie Johnson.
Entrepreneurial Corner | What Are the Seven Key Numbers You Need to Know to Succeed in the New Economy?
What Are the Seven Key Numbers You Need to Know to Succeed in the New Economy?
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Led by:
Kurt Kofford, CPA, is a director at BiggsKofford. He plays a major role in the management of the firm’s clients, overseeing all of the firm’s auditing and accounting engagements, as well as consulting clients on long-term planning. Austin Buckett, CMA, CM&AA, is a manager in BiggsKofford Capital, BiggsKofford’s Investment Bank department and also acts in an outsourced CFO capacity for clients, providing consulting in financial performance as well as developing growth and exit strategies.
We’ll discuss:
Thursday, October 27, 2011 7:30 – 9 a.m.
BiggsKofford, 630 Southpointe Court, Suite 200
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Finding an accountant for your small business can seem like a bit of a chore. Considering that most of us run in the same circles or are members of similar professional groups. There is also the fact that many new clients have trouble understanding exactly what it is that BiggsKofford can do for them, so it’s no wonder that choosing someone to help you think big picture when it comes to your company’s financial matters can be so difficult. To make things a bit easier for you, here are five questions you should ask any accountant you’re thinking about hiring: What are your specialty areas?As with any other field, most accountants have specialties and areas of expertise. Whether it’s helping to smooth out cash flow, making payroll easier, or dealing with lots of liquid assets, you should find out what your accountant really likes working on, and whether that strength is likely to be important to your business. Do you have experience with businesses like mine?Just as important as the first question, an accountant with a similar client base will have an easier time understanding what your needs are, not to mention anticipating the sorts of challenges you’re likely to face. What’s more, accountants who work with the same industry and client types can do a better job of keeping up on news, laws and trends. Could I speak to two or three of your existing clients?It’s always a good idea to check a few references before you pick a new accountant. While it’s unlikely that any professional is going to give you the name and phone number of an unhappy client, you can still get a good sense of whether the accountant is one who is willing to go the extra mile, or does just enough to keep clients satisfied. How long have you been practicing?While a lack of experience isn’t necessarily a huge deal – after all, we were all new once, you should know from the start if a newer accountant is going to be cutting their teeth with your business’ books and tax planning. Experience is a great teacher, and someone who’s been around the block a few dozen times is going to be a lot less prone to the kinds of simple errors most professionals make early in their careers. How do you like to work?This is probably one of the most important, but overlooked, questions you can ask an accountant you’re thinking about working with. That’s because, assuming you are only meeting with men and women who are qualified, competent and professional, what’s really going to be important is whether your personalities and working styles are going to mesh together. No matter what their skills are like, maintaining a good relationship with your accountant requires a certain degree of compatibility. Of course, these questions are only a starting point; as you get to know a few different accountants and evaluate their strengths and personalities, you’ll probably think of several more questions. Consider using these as a starting point and remember that doing a bit of interviewing now can help you find the person who can save you a lot of time and money in the long run. BiggsKofford has many specialty and industry niches, and we would be glad to see how we can help move you and your company from one success to the next. If you have questions about our services, please contact Kurt Kofford. Is It Time for Your Business Check Up?
November 04, 2010
If you missed yesterday’s event “Is It Time for Your Business Check Up?” with the Better Business Bureau of Southern Colorado, Kurt Kofford presented basic and indepth ideas about areas of business that can either make or break a successful company. You can find the PowerPoint presentation here. If you have questions about areas where your business might need an extra focus or about the presenation, please contact Kurt Kofford. Interested in attending our future events? Contact Stephanie Johnson. October Entrepreneurial Corner: Healthcare Law Follow Up
October 28, 2010
If you missed today’s Entrepreneurial Corner breakfast that highlighted updates from the Healthcare Law and how it could affect your business, please find the handouts below. BiggsKofford, P.C. Entrepreneurial Series, October 28, 2010 Panelists: If you are interested in attending or sponsoring a future Entrepreneurial Corner, please contact Stephanie Johnson at (719) 579-9090. The Mayor Project Event
September 09, 2010
Recently, BiggsKofford hosted an event highlighting the various topics that are essential to The Mayor Project, which is slated to be on November’s ballot. In case you missed this event, a copy of the presentation handouts can be found here: The Mayor Project: A Perspective on City Governance Funding is imperative for this initiative to be successful, and we believe that this is an issue our city must pass. We are requesting that you join us in contributing to this extremely important cause. We would be happy to discuss with you why we believe so strongly about this issue. Feel free to call Kurt, Chris or Jerry if you need more information before you decide to donate. Jerry Biggs – (719) 661-1202 To make a donation to The Mayor Project, please make your checks out to The Mayor Project and mail to BiggsKofford, P.C., 630 Southpointe Court, Suite 200, Colorado Springs, CO 80906. You may also make online donations here. Auditing the Auditors
June 15, 2010
Consider these scenarios:1. You just received a regulatory notice in the mail from the government agency that regulates your company or organization, informing you that the audit of your company didn’t meet the required standards. The notice uses threatening language to spell out the negative consequences of not complying. What went wrong? Aren’t all financial statements audits created equally?The answer is a definite no! Audits are not a commodity in which one gallon of gas is just like the next. Yes, there is a large body of professional standards to guide all auditors in the performance of an audit and reporting on financial statements, but there is a wide variance in actual practice as to how those standards are followed. When an audit is not an auditUnfortunately, in my 26 years as a CPA and an auditor, and my experience over the last four years on the Colorado State Board of Accountancy, I have learned that some audits are better than others, and a few are downright bad. There are many factors that go into creating a superior audit, including the approach, skills, knowledge and time allocated to the audit. Most of these are factors in arriving at the cost of an audit, yet many organizations and companies select their auditors on the basis of cost alone as if the audit by one CPA firm is the same as the next. How big is the problem?No one knows for sure how many sub-standard audits there are, but recent studies in certain sectors have revealed concerning deficiencies. Substandard audits have become enough of a concern for the department of Housing and Urban Development (HUD) that they are considering a proposal to require any auditor performing an audit to be submitted to them to be from an approved list, which would allow them to exclude auditors who have not been performing audits up to the required standards. What to Do? Our RecommendationsThe first thing to consider is the competence and longevity of the firm or accountant that you are engaging to audit your company. How long have they been in business? What is the firm’s professional standing and experience in your industry? Do they list references in their proposal for similar work and similar industries that they have done work for in the past? Check the Web site for the Colorado State Board of Accountancy to see if they have had any complaints filed against them. Not only should you find out if the CPA firm is a member of American Institute of Certified Public Accountants (AICPA), but you should inquire how they have used their membership to improve their audit quality. For example, the AICPA has Audit Quality Centers for specialized areas such as employee benefit plan audits, where members can join to access resources to improve the quality of their audits. Also, check to see if they are in good standing with the Colorado Society of Certified Public Accountants (CSCPA). Both organizations require audit firms to conduct tri-annual peer reviews (an audit of the auditors). Ask them for their most recent peer review report and discuss the finding of their peer review with them to determine what suggestions for improvement were made. And of course, it’s important to take a detailed look at the proposal. Are they proposing in writing that your company’s needs will be met and to the proper regulations? When looking at proposals to decide on a CPA firm, many companies put together an audit committee to come to a decision as a group. In my position with the State Board of Accountancy, I’ve seen situations where businesses or organizations have made bad decisions in choosing CPAs when it came to their audit. These situations haven’t made headlines, but bad situations happen more than what I would like to see. The Bottom LineSelecting an auditor based only on cost is not a good idea. Often the old axiom applies “You get what you pay for”, so make sure you are reaping the benefits that an audit should bring to an organization. When Times Get Tough – Ask Your Clients
May 14, 2010
Who wouldn’t love to get answers to these important questions? But where can you go to find a group of people who know about your business and would take the time to give you their advice? The answer is much closer than you think. Your own clients are one of the most valuable groups your business has, and if asked, it is likely that they will be more than willing to provide meaningful, relevant and supportive input to your business. With a structured, fully facilitated Client Advisory Board, you can get a real ‘outside-looking-in’ perspective of your business. Holding a Client Advisory Board will: The information you’ll gain from holding a Client Advisory Board is specific to your business and represents a giant step on a path towards helping you deliver the extraordinary service that will keep your customers coming back for more. Our firm has received that kind of valuable input and feedback. We held a Client Advisory Board with 14 of our good clients to find answers to some of the questions that were most important to us to help us formulate our strategy to react to the challenging times we are in. It turned out to be a very positive and helpful experience for us. I think it can be a big source of help for you as well. How Does It Work? This process turned out to be a very positive one for our firm. Our clients were very gracious and willing to provide feedback on both positive aspects of our firm and things we could be doing better. It is amazing what you can learn when you just ask your clients. For example, we were wondering what we should do to obtain more referrals from our clients and had considered elaborate methods to try. It turned out that our clients told us to forget about any fancy methods for referrals and to just ask them. They also came up with some great ideas for better communicating how we could help them and had specific suggestions on how to make the process of preparing corporate tax returns easier. See – if you really want to know how to improve – just ask your clients. They can be your best source of help. And it never hurts to let your best clients know that you want to improve and serve them better. Try a Client Advisory Board for your business! 
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