CPA Life

Episode 26 is the second of a two part episode of CPA Life, and Henry Huie rejoins John Randolph to talk about his new firm and its subscription model where clients pay for ongoing advice rather than billable hours. A focus on building deeper client relationships puts the value in “value billing,” and empowers clients to ask for the help they need without worrying about fees. Further, by leveraging technology, Henry’s ideas represent a way for firms to beat the staffing shortage as a job in accounting with fewer hours, better pay and more meaningful relationships is sure to attract far more talent than the same old, legacy firm attitude. Get the full show notes and more resources at CPALifePodcast.com

In another two part special episode of CPA Life, John Randolph interviews Henry Huie about his journey from working long hours at top 25 firms to opening his own practice, Chrome Accounting, in October, 2023. Henry shares some of the lessons he’s already learned, like thorough planning, having enough savings so you need not take on undesirable clients, and niching down your services. Henry prepared methodically over a year before launching his firm, during which time Henry learned practical tips for working remotely efficiently using tools like Loom. Henry’s advice on networking, providing value to clients, and avoiding common pitfalls of being a new business owner will prove invaluable to every listener. Get the full show notes and more resources at CPALifePodcast.com  

Episode 24 is a CPA Life Rewind, where we look back on a topic relevant to the accounting world right now. Today, having just gotten through another fall busy season, we feature John Randolph's conversation with John Mark Prewitt, Managing Member at Cohesion Companies, which he founded over a decade ago. John Mark's experience in the Big Four led him to choosing a radically different approach to running his own firm, with a strong focus on work-life balance and low employee turnover, thanks to Cohesion's flat fee model, focus on client service, and emphasis on communication and growth opportunities for employees. As a result, Cohesion was recognized by Accounting Today as a top firm to work for in 2022. This Rewind episode is chock full of insights on how your firm can do the same! Get the full show notes and more resources at CPALifePodcast.com

Tired of endless 80-hour weeks? Chris Vanover, President and Chief Auditor at AuditClub, talks to John Randolph about AuditClub’s subscription model which aims to give firms flexible access to audit experts on demand. Listen in to learn how AuditClub’s transparent bonus system and sustainable four-day workweek attracts top talent while prioritizing work-life balance. Chris also reveals how AuditClub is designed to meet the audit needs of sole practitioners and top ten firms alike. Get the full show notes and more resources at CPALifePodcast.com

Donny Shimamoto, CEO of IntraPrise TechKnowlogies, is a thought leader in public accounting who is transforming the industry through his focus on technology, people, and culture. On Episode 22 of CPA Life, Donny talks to John Randolph about how firms can address the staffing crisis through demand management, outsourcing, and automation. He also shares the results of surveys conducted by his Center for Accounting Transformation on what makes firms successful, and the importance of advisory services over compliance work. Donny also touches on how AI will impact accounting, advising firms to leverage it to enhance their work, rather than replace it, and to be skeptical in its implementation. Get the full show notes and more resources at CPALifePodcast.com

Yuri Kapilovich started #thefunCPA movement to change the stale, grueling culture of public accounting. On Episode 21 of CPA Life, he talks to John Randolph about his journey through seven different firms, including time spent in the Big Four, until he finally settled on starting his own firm, with a focus on a better work-life balance. Yuri understands that with the availability of information on the internet, the accounting industry must adapt to retain top talent. He is making it happen through his own firm, and he advocates for other firms to follow a similar path, as today’s generation of accountants simply won’t tolerate the conditions that have dominated the industry for so many years. Get the full show notes and more resources at CPALifePodcast.com

Host John Randolph continues his thought-provoking conversation with Geraldine Carter about transforming accounting firms on Episode 20 of CPA Life. Geraldine stresses the importance of understanding what clients truly value, explaining that all too often, clients don’t actually understand the product you’re selling them. She also takes issue with the oft-heard refrain that “CPAs are risk-averse,” arguing that in fact, CPAs take calculated risks all the time, and they take unnecessary risks through inaction. Part two of the discussion is full of big ideas to help you build a thriving and fulfilling practice. Get the full show notes and more resources at CPALifePodcast.com

Geraldine Carter’s background in engineering and adventure travel informs her gusto and skill for identifying and solving problems, and her experience in founding her own business led her to realize the challenges many CPAs face as business owners themselves. She talks to John Randolph on part 1 of this two-part episode of CPA Life about those challenges, and her coaching of CPAs on how to simplify their practices, focus on value creation, and get their hours and stress under control. Geraldine provides practical advice on harnessing the benefits of narrowing your focus through specialization or niching, such as higher margins and an easier workload. Get the full show notes and more resources at CPALifePodcast.com

Zane Stevens co-founded Protea Financial, an accounting firm focused on the wine industry, and it was remote from the beginning. He talks to John Randolph on Episode 18 of CPA Life about how this allowed him to treat employees like adults and provide flexibility in their roles. He also emphasizes the benefits of niche focus, arguing that firms that try to be everything to everyone often underdeliver. Zane notes that communication is often the biggest challenge for remote teams, requiring purposeful structures and frequent adjustments. Still, he finds that remote work allows for more precise, focused conversations and improved productivity. Get the full show notes and more resources at CPALifePodcast.com

Shannon Badger, co-founder of Badger CPA, joins John Randolph on Episode 17 of CPA Life. A fast-growing accounting firm founded in 2015, Badger has been recognized as one of the best firms to work for by Accounting Today and as one of the fastest growing businesses by Inc. Shannon discusses how they have achieved this rapid growth while prioritizing people over profits. They started small and built up gradually, emphasizing the importance of fixed fee pricing, managing workloads down to a 2,200 hour work year, hiring remote talent, and setting boundaries with clients to create a sustainable work environment for their employees. Get the full show notes and more resources at CPALifePodcast.com