Business Strategy for CPA's

Discover how to redefine value in the accounting world by focusing on outcomes rather than effort. Learn about creating effortless value through enhanced client onboarding and proactive communication. Find out how simple changes can lead to quicker wins and clearer expectations, boosting client satisfaction. The secret? You can generate more revenue while working less by minimizing hassles for your clients and streamlining interactions. Embrace effortless value and transform the way you approach your business!

On why and how podcasting can be great for your business. It has been the core of my business for four years and my business wouldn't be where it is without a podcast. I share this with you because I see few accountants and CPAs with podcasts in niche spaces. I look for them because I want to get them on my podcast and they're difficult to find. Yet, podcasting can be valuable for your business and so beneficial. Reasons why that is, and why, especially for accountants and CPAs, I think you are uniquely positioned to benefit from creating and having a podcast:   Podcasting grows your audience.  Your expertise deepens by hosting. It helps you grow a subscriber list. It grows your connections and your network. When ideal buyers are listening to your podcast, they tend to come better educated. You get to bring your business to life. Pro tip here from experience: if you want your podcast to serve your business, focus on a specific audience, focus on a specific set of problems that you solve for your people. This is the stuff that we work on in CPA Mastermind. I designed it to be the best program for CPAs and accountants who want to get their business on the right track.   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.geraldinecarter.com/subscribe-main-list Episode mentions: 192 Free Time and 7 Figures Net Revenue with John Lee Dumas https://businessstrategyforcpas.com/192 196 CPA Mastermind: Create More Profit with Less Effort https://businessstrategyforcpas.com/196 179 Digital Products, Courses, and 90% Margins with The Real Estate CPA, Brandon Hall https://businessstrategyforcpas.com/179

A lot of CPAs have had enough, and are looking to sell off parts or all of their business. They have options when it comes to selling. And the farther ahead they plan, the better deal they’ll create for themselves. Here today to talk with me about what he sees happening right now in the buying and selling of CPA firms is my guest Brannon Poe, owner of Poe Group Advisors. Highlights: — “Firms that have a large number of personal tax, not associated with a business, tend to have higher staff turnover, higher tax season hours, lower cash flow to owner.” — “Staffing is changing the accounting profession faster than anything. Because of staffing changes, people are having to make difficult pruning decisions.” — “Accounting firms are the slowest to change models. The cloud firm space, however, is definitely growing fast.” — “If traditional firms don't keep up with the innovation, they're going to lose clients to innovative cloud firms.” — “The full cloud firms sell for a higher multiple and they tend to sell faster.”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.geraldinecarter.com/subscribe-main-list Connect with BRANNON: Website: https://poegroupadvisors.com/ Virtual Workshop: http://accountingpracticeacademy.com   Episode mentions: 162 How to Sell a CPA Firm for Optimal Price with Brannon Poe https://businessstrategyforcpas.com/162 Book mentions: Scaling Up: How a Few Companies Make It... and Why the Rest Don't by Verne Harnish https://scalingup.com/book/  

For many CPAs, it feels risky to pick a cross-section of the tax-code, and burrow in. The fear is around losing clients, having to turn people away, and what if there’s a recession? Consequently, most CPAs work as generalists, and pay the price in the form of seemingly infinite rotations on the treadmill.  My guest today has built an exemplary business around expertise in one niche, and that person is Tom Wheelwright, CPA.   Tom is a tax and wealth expert and is the CEO of WealthAbility®. He is the bestselling author of Tax-Free Wealth: How to Build Massive Wealth By Permanently Reducing Your Taxes, and he is releasing his next book this summer titled The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make.   His goal is to help people achieve their financial dreams faster by permanently and legally reducing their taxes.    Highlights: — “I wrote The Win-Win Wealth Strategy to talk about how taxes really work, how incentives really work, and what the government gets out of it.” — “Tax incentives have just taken off as a way for the government to influence investment behavior.”  — “Tax incentives are actually investments the government will literally pay you to make.” — “You subniche to increase your focus and reduce the amount of time that you have to spend doing research, because then you don't have to know about everything.”  — “One of the challenges we have as CPAs, especially the smaller firms, is we tend to rely on personal, direct oversight as opposed to having systems. The client will get to a point where they're looking for systems help. And this is something where we can provide high value services to them.”  — “Don't think this is tax avoidance or tax evasion. It's none of that. This is what the government wants you to do.” ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.geraldinecarter.com/subscribe-main-list Connect with TOM: Tom Wheelwright, CPA Website: https://tomwheelwright.com/  WealthAbility Website: https://wealthability.com/  LinkedIn: https://www.linkedin.com/in/tomwheelwright/ Episode mentions: 178 Killer Niches for CPAs https://businessstrategyforcpas.com/178   Tom’s book:  The Win-Win Wealth Strategy: 7 Investments The Government Will Pay You To Make Pre-order: https://winwinwealthstrategy.com/ For multiple copies: https://winwinwealthstrategy.com/bonuses  

Many CPAs work super long hours and go for periods of time where their head is down, getting the work done. But when your head is down and you’re busy, how do you take the time to find out what your clients truly want? Here today to talk with me about this is my guest, Rochelle Moulton.  Rochelle turns consultants and big thinkers into authorities. She earned her consulting and big thinker stripes leading introverted brainiacs at some powerhouse global consulting firms like Towers Perrin and Arthur Andersen. But even better, she has built, led (and sometimes sold) more than a few 6, 7 and 8-figure consulting businesses. And earned the equivalent of a second MBA building authority brands and businesses with hundreds of soloists. She has recently launched a mastermind to build wealth in the form of money, time, and flexibility, for soloist women in the expertise space.    Highlights: — ”In a listening tour, you're going to ask your ideal clients or prospects a very specific list of questions to get insight into something that you're trying to figure out, like a new product or a new program.”  — ”One the kinds of questions to ask, I'll open with something about their business, to make sure that I understand where they're coming from.” — ”What we think our audience wants is not necessarily what they actually will buy.” — ”A listening tour gives you a better understanding of what your clients want beyond what you think they want.”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with ROCHELLE: Website: https://rochellemoulton.com/ Twitter: https://twitter.com/ConsultingChick LinkedIn: https://www.linkedin.com/in/rochellemoulton/ Episode mentions: 166 How CPAs Can Build and Monetize Authority with Rochelle Moulton https://www.businessstrategyforcpas.com/166  

There are a number of mindset, structure, and mechanical components that are not working well for CPAs and accountants. Many are working long hours and are underpricing. And they continue to be busy because they are positioning themselves in the marketplace as generalists. It's difficult to create value, which means it's difficult to raise prices, which means it's difficult to do less work.  There is an easier way, and it doesn't have to be thaaaat hard to make the changes that you need in order to get your business pointed in the right direction to get where you want to be. I'm launching a new program called CPA Mastermind. It’s designed for CPAs and accountants who are solos or small firm owners: to update their business model, make their business more profitable, get their business on the path they want it on, and get their life back. In short, CPA Mastermind helps CPAs create more profit, with less effort. Here are the 10 steps that you'll go through in CPA Mastermind: Figure out your goals. Figure out your strategy.  Determine your ideal buyer. Figure out your value. Package your services. Determine pricing.  Improve your website and online presence. Replicate your ideal buyers Test/experiment. Move low-value work off of your client roster If you don't want to do another year that feels like the last three that you have gone through, check out CPA Mastermind.   Get on the interest list:  https://shethinksbigcoaching.com/interest More about the CPA Mastermind: https://shethinksbigcoaching.com/cpa-mastermind Episode mentioned: 125 Value and Segmented Pricing for CPAs with Pricing Expert Mark Stiving, PhD https://businessstrategyforcpas.com/125   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list  

What I have for you today is the audio from a webinar I hosted on Crowdcast on how positioning can help you in your business. Focusing on your niche or position can be really challenging. What I want is to help you keep on moving and to continue making progress in terms of narrowing who you focus on working with and who you work best with, because it makes your business so much easier.   Highlights: — Why choose a position in the marketplace? It deepens your expertise, which increases the value you can provide, which enables you to raise your prices, which enables you to work less It simplifies your business: fewer internal workflows and assembly lines to manage Your marketing becomes much more effective: your message resonates more readily with better qualified clients, and you know where to place your message so it’s in front of prospects’ eyes The moment a CPA separates himself from the crowd, he immediately opens himself up to that very type of business owner who is thirsty for his expertise and will pay him for it.  ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Get access to webinar slides: How to Position Your Business https://www.shethinksbigcoaching.com/position-your-biz-slides  

In episode 193, I introduced a tool called The Model, which you can use to understand how your thoughts, feelings, and actions create your results.  Pricing, and especially raising prices, tends to elicit fear-based thoughts.  In this episode, I give you specific examples around the thoughts CPAs have about pricing, so you can see how your own thoughts about pricing might be inadvertently affecting your prices. HIGHLIGHTS: Here are three sample thoughts about pricing, that could play out as follows: — When an accountant thinks, “They might say no,” she might feel hesitant, and want to think about her new prices some more, and meanwhile not list her new prices. The result is that buyers cannot say yes to her higher price because that higher price doesn't officially exist anywhere. Buyers are effectively saying no to her higher price. — When a CPA thinks, “I've got to step up and deliver, I better perform,” he feels pressured and doesn’t think his processes all the way through. The quality and delivery are not as good. The result is that he doesn't perform when he feels under pressure about performing. — When a CPA thinks, “What if they don't think my service is worth it?” she shows up apprehensive and holds back on delivering direct but valuable advice. When she wonders if her service is worth it, she doesn't make it worth it. And then she proves to herself and her prospect that her service is not worth it. … Thoughts show up in results. And, it can help to remember that this is just the brain doing its normal brain-thing. (After all, it was designed to keep people safe from tigers and inside the tribe, so that they could live to tell another day.)   There is nothing wrong with thinking these thoughts. But it helps to be aware of them, in order to choose a new set of thoughts that line up with the results you desire to create. Low-priced thoughts, create low prices.   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list   Episode Mentioned: 193 Create the Exact Business You Want: Introducing The Model https://businessstrategyforcpas.com/193  

Today I want to introduce you to something called The Model. It’s a model for understanding and making sense of your thoughts, feelings, actions, and results.  And it is created by Brooke Castillo, the founder of The Life Coach School. I am a certified coach by The Life Coach School, and as such I am licensed to teach her methodology.  So I want to tell you about what this tool is, give you a sense of what it looks like and how it works and show you how we can use it to create the reality that we want and stop recreating a reality that we don't want. What I love about the model is that it helps you understand your mind, understand your feelings, understand why you take the actions that you do and why you don't take the actions that you don't, and how these actions in aggregate create the result of our lives. Highlights: — “Our thoughts create our feelings, and we can choose what our thoughts are.” — “The Model is a tool that you can use to understand what's happening in your life, and how to create the life and the business that you want.” — “What's so powerful about the model is that you can see your thoughts showing up in your results.” — “Improving your ability to think intentional thoughts on purpose is how you create the business and the life that you want to have.” ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list

When you run a business, getting a handle on your time can be a challenge.  Keeping your time and your tasks organized, is one way to get more big things done.  Here today to talk with me about this is my guest, John Lee Dumas.  John (or JLD, as he is affectionately known) is the founder and host of the award-winning podcast, Entrepreneurs on Fire.  With more than 100 million listens of his 3000+ episodes, JLD has turned Entrepreneurs On Fire into a media empire that generates more than a million listens every month and 7-figures of NET annual revenue 8 years in a row.  He is also the author of the recently published book, the Common Path to Uncommon Success in which he shares his 17-step roadmap to financial freedom and fulfillment.    Highlights: — “How do you start batching when you're working a  60-hour work week? You start with the small things.” — “When the unexpected happens you just need to be ready to flow with it.” — “As your business grows, you bring in people to your organization to take more things off your plate so you can keep focusing on what you can do.” — “It takes time for people to really get a handle on their time because they're going to have to try things out.”   Connect with JOHN: Website: https://www.eofire.com/ ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list