Business Strategy for CPA's

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Today I have the five books that I most often recommend to my clients, because I want you to be able to benefit from the excellent writing that’s out there, that can help you move forward more effectively in your business.  These 5 books are straightforward, boot-on-the-ground practical advice for ways to improve your business.  I hope you find something to enjoy that will contribute to the transformation of your business, and lead to you living a whole and beautiful life.   Here they are:   The Business of Expertise by David C. Baker https://www.amazon.com/Business-Expertise-Entrepreneurial-Experts-Convert/dp/1605440604 Expertise increases value, and value improves prices. Improved prices allows you to reduce workload, which helps you get off the so-called hamster wheel.  It starts with (differentiated) expertise.    $100 Million Offers by Alex Hormozi https://amazon.com/100M-Offers-People-Stupid-Saying/dp/1737475731/ Once you have your differentiated expertise and a clear position in the marketplace, it’s time to learn how to package and title your services, in a way that’s appealing. Then you make offers, observe your results, and learn from what sells.    Atomic Habits by James Clear https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0593189647/ Being overworked with a “handle what’s most on fire” strategy is guaranteed to thwart progress.  Integrating more effective habits throughout your business and your day will improve your output.    The Automatic Customer by John Warrillow https://amazon.com/Automatic-Customer-Subscription-Warrillow-2015-02-05/dp/B01MY26IQ8/ Once you have your expertise and position honed, your offers dialed in, and your own habits on repeat, it’s time to get your customers (clients) on repeat.  Single transaction has its place, but recurring is where it’s at, and The Automatic Customer (as well as my interview with Mr Warrillow) will help you create your first subscription service.    Pricing Creativity by Blair Enns https://www.winwithoutpitching.com/pricing-creativity/ Now that you have your services packaged, it’s time to price them right. Underpricing is like gravity: a powerful force that will keep your business grounded. If you want to reach escape velocity, smart pricing is your rocket fuel.    …………   ***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 Subscription is all the rage in software and in other industries, but the accounting industry is hardly speedy on the uptake.  While the value appears to be there, something - or perhaps many things - are in the way of accountants and CPAs making the shift to the subscription pricing model.  Here today to talk with me about this challenge is my guest, John Warrillow. John is the founder of The Value Builder System, a practice management software for business advisors. He is also the author of the best-selling book Built to Sell, The Automatic Customer, and The Art of Selling Your Business. He is the host of Built to Sell Radio, which was recognized by Forbes as one of the 10 best podcasts for business owners. Highlights: — “Recurring revenue makes your business more predictable, and that allows you to build a much more efficient firm.” — “Once somebody subscribes to your firm, not only do you get the recurring revenue associated with that subscription, but it makes your customers more likely to buy other things from you.” — “There's no way you can serve all your customers with one subscription model. Instead, what you want to do is segment first.” — “You hire salespeople to sell your product or your service. Your job (as the business owner) is to sell your firm.” — “Scarcity gives people a bit of a nudge towards decision-making. It makes them get over the classic challenge of any subscription, that if it's a subscription, it's always available.”   Download the PDF for this episode:  9 Subscription Models eBook - http://builttosell.com/carter   Connect with JOHN: Website: https://builttosell.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/7Want one piece of business strategy delivered daily to your inbox? Subscribe here: https://www.shethinksbigcoaching.com/subscribe-main-list   My guest today is Minnie Lau, CPA, who currently runs a tax practice helping clients optimize their stock options.  18 months ago, Minnie called out of the blue citing the usual symptoms of being swamped with tax and no visible off-ramp. She wanted help getting her business where she was doing work she loved while being well compensated for it without working all the time. She knew she loved stock option tax strategy and consulting, but couldn't locate the path to create her business around it. So we dug in, we built the path which she is now cruising on.  Minnie is here to talk with us about her journey of specializing, what has changed in the year since we last had her on, and what the future holds as she continues to deepen her expertise in this area.    Highlights: — “Once you're able to articulate the value you're bringing to people, that takes the pricing piece entirely out of the conversation.” — “Every professional out there is an expert in one superpower. This is the thing that everybody in your office says, “Oh, go talk to this person because it's their jam.”  — “You could build a practice working on the thing that brings you joy and hopefully makes a bit more money at the same time.” — “The most challenging part of the process was seeing your plan and actually having to take the first step.”  — “If somebody had pointed you in the right direction and you choose not to act upon it, that's on you, your consequences of inaction.”   Connect with MINNIE: Website: https://www.minnielau.com/ Previous episode: Out of Compliance and into Tax-savvy Stock Option Consulting https://businessstrategyforcpas.com/113 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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Most CPAs work super long hours for the revenue they bring in. Automation is upending the profession in profound ways. And the race for optimized efficiency is on.  But there's another path and that path is not automation. It's authority. Here today to talk with me about this as my guest, Rochelle Moulton.  Rochelle turns consultants and big thinkers into authorities. She earned her consulting and big thinkers stripes leading introverted brainiacs at some powerful global consulting firms like Towers Perrin and Arthur Anderson. But even better, she has built, led, and sometimes sold more than a few six, seven, and eight-figure consulting businesses and earned the equivalent of a second MBA building authority brands and businesses with hundreds of soloists.  Highlights:   — “Authority is when other people in your specific niche look to you as a trusted source of information and advice in your field.” — “Building an authority business lets you design a business that allows you to work from your genius zone.” — “Authority is like expertise on steroids, where you're public and you are publishing your point of view out to the world.” — “Selling is like a muscle and it needs to be exercised to really perform at its best.” — “There's an unlimited number of ways you can monetize authority. But the key to think about this is it's the services that you offer and the price tags that you attach.”    Rochelle’s book:  The Authority Code: How To Position, Monetize And Sell Your Expertise https://rochellemoulton.com/book/ Connect with ROCHELLE: Website: https://rochellemoulton.com/ Twitter: https://twitter.com/ConsultingChick LinkedIn: https://www.linkedin.com/in/rochellemoulton/ 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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Today’s guest is Shaan Afridi, a CPA who focuses on cash flow and tax planning for Real Estate Investors. He helps his clients clean up their messy books and understand their cash position, so they can better capitalize on opportunities.   Shaan is a client, and we’ve been working together since about April. In less than eight months and with two tax deadlines in between, Shaan has gone from pretty close to starting from scratch, to more than six figures in revenue.  Shaan talks about his journey as a CPA, from working full-time for someone else to building his own business and transitioning from being a traditional accountant to an advisor.   Highlights: — “There's always going to be more work in your niche than you can handle. It doesn't matter what the niche is.”  — “Advisory is where the future is because that's where the value is.” — “If your clients trust you as a tax preparer, they'll be happy to listen to other ways you can help their business.” — “It's a valid concern that when you outsource work, the quality can be compromised. But it's still possible to find someone who can do good quality work at a very reasonable price.” — “To get started in advisory services, you don't have to know everything. You just need to know more than what your clients do. As long as you are always building your expertise, soon enough you'll know what you need to expand your practice.”    Connect with SHAAN: Website: http://orangecountytaxplanning.com LinkedIn: https://www.linkedin.com/in/shaan-afridi-cpa-aca-627a8342/ 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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7With countless new millionaires being minted every year, and the stock market posting consistent gains, there are plenty of folks who need more support managing their assets.  But without a framework for helping these people, it can be difficult to know where to start.  Here today to talk with me about building Family Office Services into your CPA firm is my guest, Anthony Glomski. Anthony is also the founder of AG Asset Advisory, an SEC-registered Family Office. He and his team work extensively with entrepreneurs and CPAs to build family offices and optimize their financial world.   Highlights: — “In the simplest form, the family office helps the family operate more effectively and helps them function better.” — “CPAs are especially well-suited for this type of work because they tend to be the most trusted advisor to high net-worth individuals.”  — “Many of the successful CPAs don't want to be cranking 1040s. What they want to be doing is functioning in a consultative role.”  — “If you're the person driving the outcome that clients want and you’re quantifying the outcome for them, they will pay you for that.”  Connect with Anthony: Website: https://agassetadvisory.com/   Anthony’s Books:  Liquidity and You (available on Amazon)  https://www.liquidityandyou.com/   Your $5 Million High-Net-Worth Practice (available at CPA Trendlines) https://cpatrendlines.com/shop/ag21hnw/ 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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Finding good staff to work for you is always a challenge, but that has gotten even harder in COVID times.  Demand for accountants is high, and seats are hard to fill.  Here today to talk with me about hiring and staffing challenges is Mark Goldman.  Mark is the owner of MGR Accounting Recruiters, which helps employers hire accounting personnel in San Antonio, Texas. There is no one better positioned to talk with us about what’s going on, and how to navigate the current environment.    Highlights: — “We are seeing people in the accounting industry opting out because they can.” — “Smart firms are always in hiring mode and are always open to talking to candidates.” — “Some of the firms that have the least trouble hiring are the ones that realize that you can only work so many hours in a week and that flexibility is needed.” — “The firms that are most successful in their hiring know and understand their culture, and understand what works well for them.” — “From an employer standpoint, these days you still have to pay the prevailing market wage in order to get the talent. And then the flexibility needs to be on top of that.” Connect with MARK: Website: https://mgrar.com/ LinkedIn: https://www.linkedin.com/in/mark-goldman-cpa-8bb1101/ Email: mgoldman@mgrar.com Want some help in your CPA firm, but not sure where to start? Schedule a free discovery call with me: https://calendly.com/geraldinecarter/15min   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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Even though you might not have selling your firm on your mind, building it AS IF you were going to sell it, even if you’re not, is a good business strategy, and will improve the value of what you build.  Here today to talk with me about what he sees improving the value of CPA firms is my guest, Brannon Poe, owner of Poe Group Advisors. Brannon began facilitating successful accounting practice transitions in 2003. He pioneered a consulting-based approach to transitioning accounting firms, which has culminated in Poe Group Advisors’ unique process – The Seamless Succession™.   Highlights: — “COVID has accelerated things that were already happening in the accounting profession. You have a trend that began a while ago to go towards more virtual offerings and more specialization in the cloud.” — “When you have a more specialist firm, you tend to have a more profitable firm.” — “If you're building something that people want, then you're going to build something that you would want as well.  — “Generally, client retention is a function of service and price. If the clients feel like they're getting value and they're getting good service, they're not going to go anywhere.” — “Planning is not a waste of time. You make more money in the time that you spend planning your own business than executing. Planning changes everything.”  Connect with Brannon: Website: https://poegroupadvisors.com/ E-book: The Unplugged Vacation: How Accounting Firm Owners Can Take A Proper Holiday Without Checking Emails https://poegroupadvisors.com/unplugged/ 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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Today we are talking about how to create a different future for yourself, even if you believe strongly in reality.  Here today to talk with me about this problem is my guest, Kara Gaisie. Kara Gaisie is an ex-CPA turned coach, who works with women who want to leave their 6 figure job without sacrificing their lifestyle. Kara talks about the obstacles and fears faced by her clients who are part-time life coaches wanting to transition to become full-time coaches. She shares some strategies to get over those fears, and how entrepreneurs can improve their self-confidence. These strategies can be used by CPAs wanting to make a transition to bigger things.   Highlights: — “Often we can move so much quicker when we take ourselves out of the business and really focus on delivering a quality product or service to our customers and our clients.” — “Do whatever you need to do until you are at a place where you feel confident and you have the demand to continue to offer that service over and over and over again.”  — “All pricing is made up. Everybody's value is subjective. Everybody gets to decide what they would be willing to pay for a certain thing.“ — “What builds self-confidence is being willing to be rejected, being willing to fail, and learning from that without making it mean anything about you. And then doing it over and over and over again.” — “Your worth has nothing to do with your service. As a person, you are wholly worthy, just as you are.” Connect with KARA: Website: https://karagaisie.com/ Want more on pricing and other business topics for CPAs? Join me for “Ten Essentials for Working Less” – a free training series on Crowdcast thru OCT 25th.  More info here.   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

Get your FREE 7 Pricing Essentials for CPAs and EAs here:https://geraldinecarter.com/7Want to attend Ten Essentials to Work Less as a CPA? Subscribe to my Daily Drip of business strategy for CPAs to get the details, as well as the guidance you need to stop working so hard for your revenue. Subscribe at SheThinksBigCoaching.com/subscribe-main-list   Today we’re talking about How to Price Advisory Services.  If you don’t know how to price or how to think about pricing, you may run into some common potholes, like underpricing your services, overworking in order to compensate, clients who are less emotionally invested in your business relationship and therefore get less valuable results, and so on. In this episode, in order to make it easier to improve prices, we break out what might be a common CPAs client roster into 5 possible buckets. And once we have the buckets separated, then we can get into what is an appropriate price range for not just the services - or even better - the outcomes. Hopefully by giving you some ranges and some examples, you will have a sense of what is "reasonable" and what is in the ballpark.  But your prices will be tied to the value that you can provide. And that value will always be subjective and based on what the buyer perceives the value to be. Want more on pricing and other business topics for CPAs? Join me for “Ten Essentials for Working Less” – a free training series on Crowdcast thru OCT 25th.  More info here.     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