In this episode, Blake and Ron Baker discuss the subscription economy. They delve into the origins of the terminology and how CPAs and accountants can provide more value to their clients by prioritizing relationships over services. This is a must-listen for anyone interested in the subscription industry, which is projected to surpass $1 trillion by 2025.
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Chapters
- (00:00) - Preview: A firm can't be everything to everyone
- (01:16) - Earn Free CPE
- (01:33) - Welcome Ron Baker to the show
- (03:11) - What does "subscription economy" mean?
- (04:33) - What does the subscription model look like for accounting firms?
- (13:10) - If I'm not billing hourly, how do I make sure that my team doesn't get completely overwhelmed?
- (16:41) - Why there is a shortage on accountants?
- (26:39) - Power of different pricing models
- (32:48) - Why don't accountants charge based on how many assets they manage?
- (42:37) - What CPA firms do to impact people's lives
- (45:28) - How accountants can approach thier clients in a different way
- (51:21) - Amazon never would have happened if Jeff Bezos thought like an accounting firm
- (57:24) - Accounting firms want to change but don't
- (01:04:47) - What does the future of accounting look like?
- (01:06:32) - How to contact Ron Baker
Connect with Our Guest, Ron Baker
LinkedIn: https://www.linkedin.com/in/ronbaker1/
Twitter: https://twitter.com/ronaldbaker
Learn more about Verasage
Website: http://verasage.com
Get Ron's book
"Time's Up!: The Subscription Business Model for Professional Firms": https://amzn.to/3y7Gfxb
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
