From Billable Hours to Client Empowerment: Jeremy Clopton's Vision for Accountrepreneurship

In this insightful episode of Building the Premier Accounting Firm, leadership development expert Jeremy Clopton of the Emerging Leaders Academy, sits down with host Roger Knecht to recount his transformative journey within the accounting profession, emphasizing the need for a paradigm shift towards entrepreneurship, innovation, and client-centric approaches in accounting firms.

1. Jeremy's Journey:

   • Jeremey discusses how growing up in a family of CPAs led him to an interest in forensic accounting.

   • He recounts starting his career in forensic accounting and data analytics at a national firm.

   • His decision to pivot to teaching, speaking, and eventually joining Upstream Academy is outlined.

2. Shift in Accounting Paradigms:

   • Roger and Jeremy discuss the importance of moving away from traditional metrics like billable hours.

   • They emphasize the value of knowledge, expertise, and client outcomes.

   • Roger discusses ways to measure productivity through deliverables and client satisfaction.

3. Innovative Billing Practices:

   • Roger and Jeremy make a proposal for flat-rate billing based on average client fees.

   • Jeremey emphasizes the need to enhance efficiency and productivity through streamlined processes and technology.

4. Client Relationships:

   • Roger highlights the power of viewing tasks such as tax returns and bookkeeping as opportunities for meaningful client interactions.

   • Jeremy shows how clients prefer growth-facilitating partnerships, and are often willing to pay higher fees for such support.

5. Business Mindset in Accounting:

   • They explain how to adopt a business mindset, focusing on marketing, accounting, and production.

   • Jermey emphasizes the importance of effective marketing and sales strategies for client acquisition.

6. Accountrepreneurs:

   • The hosts encourage accountants to apply business principles within their firms.

   • Roger notes the need for external help for small firms and solo practitioners for long-term success.

7. Cultural Shift in Firms:

   • Prioritizing client and employee satisfaction over long hours.

   • Effective workload management to prevent burnout and maintain client relationships.

   • Measuring productivity by completed work rather than hours worked.

   • Flexibility in deadlines to enhance firm culture and employee well-being.

8. Retaining Quality Employees:

   • Fostering a supportive culture to attract and retain talent.

   • Emphasizing metrics reflecting client deliverables and deadlines.

   • Highlighting culture, people, clients, and growth as key areas for improvement.

Conclusion: Jeremy Clopton's insights underscore the necessity for accounting firms to embrace entrepreneurship and innovation, focusing on client satisfaction, efficient processes, and a supportive culture to ensure long-term success and growth in the profession.

For more information on how you can start your journey to becoming an Accountrepreneur, call 435-344-2060.

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers: They can find more information about our programs on our website: http://www.upstreamacademy.com

Jeremy invites you to attend Upstream's HeadWaters Leadership Conference July 11-12 in Chicago. During this two-day event (widely regarded as one of the best accounting industry conferences available) experts from top firms in the US and Canada will help your firm understand and improve your process for making strategic transitions.

Transitions are vital for firm survival, but they also provide opportunities to change, improve and grow. Let's move beyond simply weathering changes—mitigating damages, forcing compliance and fitting the new into the old mold—to strategically planning for transitions that energize your firm.

Register at https://www.upstreamacademy.com/headwaters/.

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For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777