Business Strategy for CPA's

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Many CPAs serve a general population of people, doing accounting for anyone with a business, and taxes for anyone who needs a return.  Because they don’t go deep into one subject matter, it makes it hard to provide the enormous value that would warrant high fees.  So, rather than grow revenue by increasing value and therefore fees, they grow revenue by increasing volume.  This is a sure-fire on ramp to the hamster wheel.  Instead, occupying a narrow position in the marketplace can solve the aforementioned problems.  Here today to talk with me about this is my guest, Brandon Hall . Brandon is the founder and managing partner at The Real Estate CPA. The firm serves more than 700 clients nationwide and has 30 employees. Highlights: — “If anybody's going to create courses, I would recommend starting a Facebook group.” — “How do you just get people to continue to want to buy the next thing? Just offer them an incredible amount of value for whatever they've paid.” — “When you niche, you will be able to build a brand where you'll be the go-to person, and that will create multi-million dollar revenue streams.” — “To pick a niche, start with something that you're already interested in, and see if there's a market there.” — “When you create a group you're creating a community. The world is trending towards online communities to talk about your product, to talk about your services, and ultimately sell your services.”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with BRANDON: Website: https://www.therealestatecpa.com/ LinkedIn: https://www.linkedin.com/in/brandonhallcpa/ Twitter: https://twitter.com/bhallcpa Facebook Group: https://www.facebook.com/groups/taxsmartinvestors Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7For 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 hamster wheel.  Longtime listeners to this podcast know that I am a HUGE proponent of niching, because it makes business better in countless ways.  My guest today has built an exemplary business around expertise in one niche, and that person is Tom Wheelright.  Tom is a visionary and best-selling author behind multiple companies that specialize in wealth and tax strategy.    Highlights: — “With the advantage of age, you learn that a very generalized practice is actually the slow way to build a business and an even slower way to build net revenue.”  — “The more education you give away, the more people will buy.” — “Being mission-driven instead of money-driven makes all the difference in the world because then we can be niche-focused. Then we can actually say “these are the people we want to serve, and this is what we want to do with them.” — “We have a very clear message to the public and that's why so many people come to us.” — “An educated client is a better client. If the client gets good education, they become more successful.”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with TOM: Website: https://tomwheelwright.com/ LinkedIn: https://www.linkedin.com/in/tomwheelwright/ Tom’s book:  Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes https://www.amazon.com/Tax-Free-Wealth-Massive-Permanently-Lowering/dp/1947588052/   Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7With so much change happening so quickly when it comes to automation in the tech space, it can be hard to keep up.  But keeping up is a minimum requirement. Here today to talk with me about tech and automation innovation is my guest, Jody Padar. Jody is known as the Radical CPA, and enjoys disrupting the profession with innovative best practices for processes and technology. She also pioneered business solutions that would later become known as Advisory.  Jody brings her expertise in AI and automation to her latest endeavor as head of tax strategy and evangelism at the recently launched company named APRIL.   Highlights: — “April is a new technology company designed to disrupt the tax space. We're creating tax software that's going to be distributed through banks.” — “I don't think our software is ever going to replace the value of an accounting professional.”  — “CPAs need to be aware that their job is going to change in the near future. So they have to figure out who they want to serve, how they want to serve them and how they can put the human back to serving them.” — “You have to figure out the value you're delivering and how you help your clients understand that there is value in what you're delivering because otherwise, they could just go to an automated service.” — “Accounting is ripe for automation because nobody's done anything in it in the last 50 years.”  ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with JODI: LinkedIn: https://www.linkedin.com/in/jody-padar-18a9711/   About April: https://www.getapril.com/ https://www.linkedin.com/feed/update/urn:li:activity:6889238594121158657/ Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Many business owners struggle with their financials, especially early on in their businesses when they can lack a basic understanding of financials and can not have the budget to hire quality accounting support. As accountants, listeners to this podcast understand that financials are incredibly important, but what they may have limited insight into is which numbers business owners really need and which they don't and how those numbers fit in context. Here today to talk with me about this perspective from the business owner side is my guest Shelli Warren. Shelli is the team and leadership coach for BizChix, Inc. and the host of the Stacking Your Team podcast, where she provides insight and practical guidance on leadership, team building, and hiring practices.  Shelli has more than 25 years of experience leading technical teams to deliver multimillion-dollar projects for billion-dollar brands at Proctor and Gamble. And now Shelli puts her expertise to work helping women entrepreneurs grow and scale their businesses.    Highlights: — ”Women business owners are looking for a guide who will help them to manage their money and to make qualified decisions.”  — ”Women business owners are looking for someone who can ask the hard questions, and push them to be more in the mindset of forecasting for the future versus reacting.”  — ”The team that got you here may not be the team that gets you there.” — ”As you evolve and the business evolves, so does the team, and then so do the requirements that you need in order to always stay out front.”  — ”Women business owners are very willing to pay for reports that are meaningful to them and are designed to help them understand things easier. ”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with Shelli and Natalie (BizChix): Website:  Biz Chix https://bizchix.com/category/podcast/bizchix/ Stacking Your Team podcast https://bizchix.com/category/podcast/team/   Instagram and LinkedIn: Shelli on Instagram: https://www.instagram.com/stackingyourteampodcast/ Shelli on LinkedIn: https://www.linkedin.com/in/shelliwarren2/ Natalie on Instagram: https://instagram.com/bizchixpodcast/ Natalie on LinkedIn: https://www.linkedin.com/in/natalieeckdahl/ Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7The idea of narrowing in on your target market is anathema to many CPAs. The temptation to be available to anyone who needs tax and accounting is strong.  But honing in on a segment of the marketplace makes your business so much easier to run.  Here today to talk with me about her own experience getting to know her custom-built market-slice is my guest, Erica Goode.  Erica is a Certified Public Accountant with 12+ years of experience in Big 4 public accounting, Fortune 50 finance, and small business accounting. She is a freelance finance professional, working with a small handful of clients, focusing on financial forecasts while staying out of tax as much as possible.  Highlights: — “In the world of niching, there is no manual. You get to create and make your own manual.” — “People are coming to me way sooner in their business journey than I would expect. And they're so aware that they're in need of help and that the help I provide is so valuable to them that they're willing to pay for what I might have inadvertently given away for free.” — “My strategy sessions turn into discovery calls. They almost are like a jumping-off point for a future relationship.” — “Once you've built that know, like, and trust factor, if you're the person clients want to work with, then they're going to ask what your price is, not go find the cheaper option.”  ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with ERICA: Website: https://www.ericagoode.com/ Episode mentions: 082 [Coaching] Logic vs Intuition: How to Choose Fulfilling Work, with Erica Goode https://www.businessstrategyforcpas.com/082 116 From Hourly Billing to Flat Rate for Cares Act Documentation https://www.businessstrategyforcpas.com/116 Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Many CPAs serve a general population of people, doing accounting for anyone with a business, and taxes for anyone who needs a return.  As a result, their focus is broad, but diffuse, and because they don’t go deep into one subject matter, it makes it hard to provide enormous value that would justify high fees.  So, rather than grow revenue by increasing value and therefore fees, many CPAs grow revenue by increasing volume.  This is a sure-fire path onto the hamster wheel.  Instead, focusing on a particular vertical, or niche, can solve the aforementioned problems.  Here today to talk with me about niching and niche drama is SaraEllen Hutchison.  SaraEllen is a solo practicing consumer rights trial lawyer. She stands up for the rights of individuals bullied by debt collectors or overwhelmed by the mess of identity theft, resulting in 6-figure verdicts and substantial settlements.  Highlights: — “Niching creates efficiency and time – I focus on one thing, and get really good at it. That builds confidence and I serve the client better.”  — “Finding where you really belong and where you really fit in is vital to being happy enough to stay in an intense profession like the law.”  — “It's important to be patient with yourself, but also, not get so used to the comfort of the familiar.” — “The nice thing about finding a niche that's not a super obvious one is that you don't have to outspend your competition in advertising.” — “I'm totally better off financially because I niched down and I'm better off in a holistic sense in my whole lifestyle.”   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Connect with SARA ELLEN: Website: https://lawyergoddess.com/ Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7If your aim is to work less and make more, there are many benefits to putting some prices on your website, without getting pigeonholed or committed to something that’s not viable.   Highlights: — “Most buyers have some sense of what they want to pay. And if there’s way too much daylight between your prices and their expectations, they’re just not going to work with you.”  — “Putting some prices on your website makes the pricing part of your discovery conversation so much more comfortable for you.” — “Use high anchor prices to make your regular price seem less expensive by comparison.”  — “Having pricing for a single meeting helps the buyer infer what prices for other services you offer might roughly be.” — “Using the phrase “Starting at” allows you to set the floor on the price.” ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list   Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Many CPAs struggle with pricing. Some have moved to flat rate or subscription pricing, and many still work by the hour. Subscription of course is a hot topic. But for many CPAs, that business model feels too far out of reach and too theoretical to be able to put it into play in their business anytime soon. But if they don't make the transition, they risk missing out.  Here today to talk with me about the subscription business model is my guest Mark Stiving. Mark is a pricing educator and advisor. He's the host of the Impact Pricing podcast and the author of Win Keep Grow, among other books. Mark helps companies win more business at higher prices. Highlights: — “To make the shift from the traditional transactional model to the subscription model, you have to figure out how you can add value to a customer on a regular basis.” — “A customer who frequently receives value from your product or your service is much more willing to offer to pay you as a subscription because they're paying you for the ongoing value they receive.” — “Accountants and CPAs who want to bring subscription into their business need to really understand what the stream of benefits could be beyond just the delivery of month-end deliverables.”  — “One of the big advantages of subscriptions is it's less expensive to get into and try a new service or a new product.” — “Accountants and other business owners need to talk to their customers on a regular basis and try to find out what problems they're dealing with, and what solutions they want.” Connect with MARK: Website: https://impactpricing.com/ LinkedIn: https://www.linkedin.com/in/stiving/ Email: mark@impactpricing.com   Past Episodes: 125 Value and Segmented Pricing for CPAs https://www.businessstrategyforcpas.com/125   153 A Formula for Quantifying Value https://businessstrategyforcpas.com/153   Mark’s Books: Win Keep Grow: How to Price and Package to Accelerate Your Subscription Business https://impactpricing.com/resources/books/   Impact Pricing: Your Blueprint for Driving Profits https://impactpricing.com/resources/books/   ***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7***Want one piece of business strategy delivered daily to your inbox?*** Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list   Many CPAs struggle with people-pleasing – saying yes, when they might prefer to say no.  As a habit, it can result in all kinds of undesired outcomes, and because it comes with some pretty sneaky rewards, it can be hard to give up.  Here today to talk with me about this problem is my guest, Sara Bybee Fisk. Sarah is the creator of a 16-week course called Stop People-Pleasing and a master at simplifying the complex.   Sara talks about how people-pleasing is showing up in our business, and what we can do to stop it.   Highlights: — “Never say yes in the moment. Always give yourself some kind of buffer.” — “We say no, or we give the answer that we know we don't want to give, because we don't feel like we actually have a choice.”  — “People-pleasing is the way we are taught from the time we're very little to get our needs met. It’s normal that we do it.” — “We are programmed to avoid discomfort, to seek pleasure and to conserve energy. And stopping people-pleasing violates every single one of those.” — “There's no opt out button for discipline.”  Download Sara’s guide on How to Have Difficult Conversations https://www.sarafisk.coach/ Connect with Sara: Website: https://www.sarafisk.coach/ Facebook: https://www.facebook.com/SaraFiskCoaching Instagram: https://www.instagram.com/sarafiskcoach/ Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7My two kids commandeered the mic to test out their stand-up routine of jokes for an accountant audience. Enjoy! Want to find out what options you might have for working together? More about 1:1 coaching, roadmaps, and DIY courses here: https://shethinksbigcoaching.com/coaching-options Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7