Business Strategy for CPA's

Mike mi-KAL-o-wits is the author of Profit First, Clockwork, Surge, The Pumpkin Plan, and his newest release Fix This Next.  By his 35th birthday, Mike had founded and sold two companies - one to private equity and another to a Fortune 500. Today he is running his third multi-million dollar venture, Profit First Professionals.  Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Over the years, Mike has traveled the globe speaking with thousands of entrepreneurs, and is here today to share the best of what he has learned. Being a certified Pumpkin Plan Strategist is incredibly useful to my clients, so when he offered the opportunity to become a certified Fix This Next Advisor, I jumped at the chance.  I wanted to have him on the show today to talk about his new book, Fix This Next, so that you could find it useful to know what to fix next in your accounting practice.  Mike is so brilliant at taking the challenges of running a business, and turning them into simple tools we can use to grow.  If you want to take the Fix This Next assessment, head on over to shethinksbig.fixthisnext.com where you can go through the 25-question assessment that will help you isolate your most important problem to fix next.  If you want a quick review of your results, put 15 minutes on my calendar. Go to  shethinksbigcoaching.com and click on Schedule Time with Me. You’ll walk away with a clear understanding of what to fix next, and what can wait, so you can start working on the right thing in the right way, at the right time. Get out of the swirl, and get yourself on a linear path to growth.   Take the assessment: https://shethinksbig.fixthisnext.com/   Book: Fix This Next https://fixthisnext.com/   Connect with Mike: Website: http://www.mikemichalowicz.com/ Facebook Page https://www.facebook.com/MikeMichalowiczFanPage/ Twitter https://twitter.com/MikeMichalowicz Instagram https://www.instagram.com/mikemichalowicz/ Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/  

Today’s guest is Erica Goode, a Certified Public Accountant with 12+ years of experience in Big 4 public accounting, Fortune 50 finance, and small business accounting. She has a passion for creating cashflow forecasts and long-range plans that enable small business owners to think more strategically given solid financials.  I wanted to have Erica on the podcast to do an on-air coaching call because I know that she struggles with a lot of the same struggles as so many other listeners.  Today we're going to talk about low value and high value work, and where fulfillment fits in. The story that Erica told about not having anybody to look to, that there are no role models around her, and the idea that her boss said to her, “You need to be the one to light the way for the others behind you” really struck a chord for me.  Many of you, many of us have very few, if any, people to look to for how to do it. We don't see women who look like us who have done it before us. There have been though, women who have been lighting the path in their own way before us. And I hope this conversation helps you build your own path and light the way for the younger woman who follows behind you.   Connect with Erica: Email: Erica.A.Goode@gmail.com   Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Apply for on-air coaching call : https://geraldinecarter.typeform.com/to/Ygoz2w Schedule time with me : https://calendly.com/geraldinecarter/15min   Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

Today’s guest is Ron Baker. Ron is the founder of VeraSage Institute—the leading think tank dedicated to educating professionals internationally. He is the author of seven best-selling books, including Professional’s Guide to Value Pricing and his latest book The Soul of Enterprise: Dialogues on Business in the Knowledge Economy, co-authored with Ed Kless. Ron is also the host of the show The Soul of Enterprise: Business in the Knowledge Economy, which you can find both as a podcast and on VoiceAmerica.com.  As a leading thinker in value-pricing, I wanted you to hear from Ron on his latest thinking around your business model when it comes to pricing.  Ron and I talk about subscription and value-based pricing, and dig into a few ways that this is playing out in accounting practices and how they can learn from this conversation and start to knock down some of the hurdles that are in their way when it comes to implementing and shifting to value-based pricing if they haven't already, and how subscription-based pricing might benefit their businesses as well.   Here are my top 3 take-aways:   #1. 3x-5x your price and cut 80% of your clients.  Yes. And I realize you have relationships with your clients that you will want to handle well. This is not easy work, but this is a Much More Sane model for your business.    #2. You cannot be all things to all people.  I know you want to help. You will be more helpful, when you are better help to fewer clients.    #3. This scares the hell out of people. YES these are big changes to your business model! Of COURSE it’s intimidating!   If you want someone to guide and support you through these changes, I am here to support you.  Remember that you can join my Strategic Action Group Coaching Program, which starts April 21st and is a VERITABLE STEAL at $300/mo for 4 months.  Head on over to shethinksbigcoaching.com and click on the Work With Me tab to find out more.  Book mentioned: Subscribed: Why the Subscription Model Will Be Your Company's Future - and What to Do About It, by Tien Tzuo https://www.amazon.com/Subscribed-Subscription-Model-Companys-Future/dp/0525536469 Connect with Ron: E-mail: Ron@verasage.com Website/Blog: www.verasage.com  Podcast: www.thesoulofenterprise.com Twitter: @ronaldbaker http://twitter.com/ronaldbaker Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

I’m kicking off a new series of episodes, Lies of the Accounting Industry.  What I want to do in this series of episodes is bring up these mindset challenges, pieces of dogma, myths and so on, that I think are problematic and that have infiltrated the industry and the thinking.  So let's start with number one, charge what you are worth.    The MAIN problem: Your prices are (almost entirely) not about you Your prices are about the buyer Your prices are about the value you help the buyer create when working together   Instead, ask these questions to establish and increase value: What are your objectives with this project? Why use outside help, vs doing it internally? Why now? - Why change accountants now? Why are cashflow forecasts important now, relative to a year ago when you did not have them? Why me?   If you would like help beginning the transition to value-based fees, reach out! Book a 15-minute session with me.  Just like you’re helping your clients, I am here to serve and support you.    Connect with me through my website, http://shethinksbigcoaching.com and click the CONTACT  tab or SCHEDULE TIME WITH ME button to get started.    Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

Today’s guest is Heather Zeitzwolfe, a CPA certified with the State of Oregon’s Board of Accountancy and a member of the AICPA.  Heather was excited for the opportunity to do an on air coaching call to come on the podcast and talk about some of the challenges she faces in her business, and to look for direction and clarity around how best to grow.  Here are Heather’s key takeaways: No more working for free! It’s possible to help people with limited means, but in smaller doses Positioning rates and people who purchase them helps them and isn’t sleazy, in facts it’s helpful and what they want Connect with Heather: Website: https://zeitzwolfeaccounting.com/ Apply for on-air coaching: https://geraldinecarter.typeform.com/to/Ygoz2w Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

Today’s guest is David Cristello, Founder & CEO of Jetpack Workflow, which empowers thousands of accounting firm owners to build a better firm through managing all their client work in a single, easy to use application.   He's also the host of the "Growing Your Firm" podcast, an interview series that highlights best practices and trends in team management, metrics, M&A, marketing and more. David is also the co-author of the best selling book "Double Your Accounting Firm". His work has been featured in Forbes, AccountingToday, and AccountingWeb.  I put a question out to my audience last week about - without downplaying the seriousness of this crisis - what are the gifts to you in this time.  And without a doubt, the single biggest gift people mentioned was time.  More time with family + kiddos,  More time to take a step back and reevaluate priorities Take care of projects around the house Take care of projects in your business.  So I thought now would be a good time to share this episode with David Cristello, and talk about how to design better workflows in your business.    Designing better workflows can help you Save time and reduce redundancy Create a better quality product More consistent product - when everyone in the office does it the same way Scale more easily Be more profitable.    These are my key takeaways from our conversation:  Document all versions of the existing process as it currently exists, by all people What can we remove What needs editing or updating What needs adding   Remember: That designing workflows is not one-and-done. You can revisit and improve workflows over time.  To keep it simple, and To include your client’s experience in the process.  Software:  https://jetpackworkflow.com/   Podcast:  Jetpack Workflow Blog: Strategies for Growing Your Firm https://jetpackworkflow.com/blog/   Book:  Double Your Accounting FIrm: Lessons Learned on How Top Firms Grow Faster, Build Stronger Teams, and Increase Profit https://www.amazon.com/Double-Your-Accounting-FIrm-Stronger/dp/1521814139/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr= Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

Today we are interrupting common narratives heard out there and wanted to provide you with a counter-narrative, to the assumption that people must be or should be anxious and stressed. Coronavirus is spreading through our communities. We have options for how we want to be, with that reality. Options include panic, stress, avoidance, ignoring, rebelling, and my favorite: staying present.  Here are five tips for staying present in these uncertain times: Watch out for phrases and beliefs that might not be true, like, “Coronavirus is making everyone anxious.” Minds without chaperones tend to find trouble. Give your mind a chaperone.   You can feel something twice – once when it happens and again before it happens; or you can just feel it once, the time it happens.  Fear itself does not change things. Choices and actions (or inactions!) change things.  Look where you want to go, not where you don't want to go.   It’s normal and human to experience this in the way you experience other parts of your life. If you find value in returning to the present, the above steps may help.  Another take is to accept the challenge this offers to up your game when it comes to keeping a handle on a mind that wants to create scenarios.  Remember, calm waters do not a mariner make.  If you've been practicing getting on top of your own thoughts, you have been issued a new challenge, to stay focused and present in the face of so much unknown.  I too am with you in this challenge - here we are!   I too am with you in this challenge - here we are!   Schedule time with me: http://Calendly.com/GeraldineCarter/25min/ Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

This week, we're talking about value-based fees and pricing. I want to share with you some different perspectives that may loosen the tangle of logic emotion, guilt, fear, and obligation we have around money and pricing.  What I hear my clients getting stuck with, and other people that I'm in conversation getting stuck with is, “How much do I price?” and “What do I charge?” Are you selling to people who like to buy things at a discount for whatever reason? Or are you selling to people who like to buy things at full price for whatever reason? I see countless business owners who are undercutting themselves who really can't afford to be undercutting themselves because they're already struggling. I want you to be able to take a step back and simply ask yourself, “Oh, what am I doing? Does this really make sense? And is this what I want to be doing, now that I have the awareness that I might be doing it?”  Book mentioned: Value-Based Fees: How to Charge - and Get - What You're Worth by Alan Weiss https://www.amazon.com/Value-Based-Fees-Charge-Youre-Worth/dp/0470275847   Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

I wanted to talk with Jenn to tap her expertise about boundaries. So many of the challenges business owners face come back to clear and strong boundaries. Things like scope creep, meetings going long, staying late at the office, giving away your workout, choosing to not sleep as much as your body needs, to giving away services at a discount or even free.  It all comes back to clear and strong boundaries.  It’s been a long time that I have known that boundaries are an issue that I wanted to talk about on this show, because they crop up everywhere in my client’s businesses.  What I didn’t know was JUST HOW MUCH work I see myself still getting to do in this area.  And what I loved most is that Jenn showed and reminded me that in fact it IS SAFE to step into my best self, and not the purple scary monster I have it set up to be.  Of course, the questions underlying these challenges will no doubt prove to be incredibly valuable as I continue to coach my own clients in these areas.  Connect with Jenn: Email: jenn@kickstartyouredge.com Website: http://kickstartyouredge.com   Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/

Today’s guest is Christine Lustik, PhD, owner of Mindfulness in Organizations. After spending 14 years in leadership and the arena of online higher education, Christine transitioned to a role of helping teams, and the individuals in them, to thrive.  Christine works with leaders and teams who find themselves in a culture of stress, disconnection, overwhelm, and chaos. And uses the practices of mindfulness and proactive resilience to change the culture to one of connection, productivity, focus, and resiliency.  I wanted to talk with Christine to tap her expertise about nourishing our bodies and our mind at the time of the year when caring for ourselves might be falling off our calendar.  Being able to find and maintain focus when there are lots of moving parts in front of us is a skill that requires constant attention and maintenance. The result of caring for our bodies, hearts and minds most often leads to increased effectiveness and productivity and getting the same amount of work done in less time.  It’s like Buddha said, sit for 30 minutes daily. When busy, sit for one hour.  My two takeaways from this episode are: Reminding myself to use “just like me,” for when I'm frustrated with someone else who is doing something that I don't like, or being a way that I don't like. It's so helpful to remind myself that, oh, just like me, this person might be having a moment of frustration. It reminds me of our common humanity.    The other one is the idea of establishing relaxed and focused as the baseline. The default to return to, rather than imagining that in overdrive is the default, and relaxed and focused is something to aspire to. Guided Meditation: Purposeful Pause on Soundcloud:  https://soundcloud.com/user-180052466/purposeful-pause    Kristin Neff on Self-Compassion: https://self-compassion.org/the-three-elements-of-self-compassion-2/   Connect with Christine: Email: christine@mindfulnessinorganizations.com Website: http://www.mindfulnessinorganizations.com Facebook page https://www.facebook.com/mindfulnessinorganizations   Download ebook “6 Simple Steps to Double Your Revenue” https://shethinksbigcoaching.com/download-double-your-revenue   Work with Geraldine: Strategy Session https://shethinksbigcoaching.com/strategy-session/ 1:1 Coaching https://shethinksbigcoaching.com/business-coaching/ VIP Day https://shethinksbigcoaching.com/vip-day/