The Modern CPA Success Show
Summit Virtual CFO by Anders
Are you the owner of an accounting firm? Do you want to make your firm more profitable? Are you interested in providing Virtual CFO services to clients?Dedicated to perfecting Virtual CFO Services since our inception in 2002, Summit CPA Group, now Summit Virtual CFO Services by Anders, serves as Virtual CFOs for over 100 clients throughout North America. While most accounting firms focus on the past, our Virtual CFO team focuses on the future. This podcast seeks to help accounting firm owners like you learn how to provide successful Virtual CFO Services and become profitable. Tune in bi-weekly as our hosts Tom Wadelton, Virtual CFO, and Adam Hale, Partner at Anders CPAs + Advisors, interview industry-leading experts to share knowledge, as well as Adam’s experience acquired from more than 20 years as the lead provider of Virtual CFO services in North America. We'll answer some of the most common questions like how do I provide accounting services virtually? What's it like running a distributed team? And much, much more.
Episodes
Mentioned books
Apr 3, 2023 • 46min
How to Offer Virtual CFO Services to Law Firms with John Scott
“Typically, lawyers are focused on what is right in front of them. They think if they do good work that's right in front of them, then good things will happen. And, sometimes they do, but you can enhance that if you focus on what the value drivers are for the business.” -John C. ScottThe finer details of this episode:The role of a CFO in growing law firms Cash flow management and forecasting for law firms Benefits of flat-fee billing vs. hourly billing Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netJohn Scott, CPA | Tax Partner | Anders CPAs + Advisors
Mar 20, 2023 • 22min
Understanding the Silicon Valley Bank Issue: What Small Business Owners Need to Know
Episode Notes:“Any business, whether it's startup, tech, any business across the board, should really have a strategy of diversification of the funds that they don't particularly need on a 90-day basis to a six-month basis. If they've got that cash flow, let's start to diversify the rest of those funds.” –Paul RheaThe finer details of this episode:Risk vs. Reward: Diversifying funds for optimal returnsExploring strategies for diversifying excess cashBank protection strategies for business ownersBank security and diversification strategies Episode resources:Summit CPA website – summitcpa.netEmail us with questions – cpa@summitcpa.net
Mar 20, 2023 • 47min
Top 5 Marketing Mistakes CPA Firms Make with Matthew Banker
“I've talked to a lot of firms who say that they can't take on new business between February and April. I think that's a mistake because that's when business owners are feeling the most pain around their financials, so that's when they most need help and want to talk to someone. But they'll often just turn off the marketing during those months. So, that's the best time to be connecting with potential clients because that's when they're feeling the need most acutely.” – Matthew Banker The finer details of this episode:The importance of understanding your customers and what they needCreating a clear and consistent message that resonates with your customersViewing marketing as an investment and working with a knowledgeable marketing partner Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netMarketing for Accounting Firms - Benchmark Growth Marketing
Mar 6, 2023 • 40min
Finding Joy in Accounting: Nearshore Outsourcing, Taxes, and Franchising with Kristen Keats
“Your mission should be bigger than you can do in your lifetime, but you should never lose sight of it as your North Star. Any decision that we make or any of the things that we’re doing, we ask the question, ‘Is this going to further the joy?’ The joy is interacting with your clients and really feeling like you're making a difference. I want to bring joy to both sides—accountants and clients. How can we make it more positive for both? We do so by finding solutions for our clients’ pain points.” – Kristen Keats The finer details of this episode:Nearshore vs. offshore outsourcingSolving pain points for clientsSolving staffing issues with CadenciaHelping accountants start their own firm through a franchising option Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netCadenciaBreakaway Bookkeeping & Advising (breakawayba.com)Sherwood Tax & Accounting
Feb 20, 2023 • 46min
Outsourced HR Solutions with John Baldino
“If an organization views human resources as the “HR police” that only values and enforces compliance, it's a disservice not only to HR as a discipline, but to each employee's experience of what work ought to be like.” – John BaldinoThe finer details of this episode:Career mapping vs. one career mapHuman resources as a service, not a departmentBoomerang employees and adding skillsets for opportunities Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netHuman Resources Outsourced, and more. - Humareso
Feb 6, 2023 • 53min
Scaling and Selling: Is Your Firm Ready for a Broker? With Brannon Poe
“Ideally, we like to work with clients three to five years before they sell. A lot of times people come to me, and they say, ‘How much is my practice worth?’ I give them my understanding of that value. And if they don't like that value, then they've got time to work on that because sometimes owners need to get their practice in a better position so they could sell for a better price.” - Brandon PoeThe finer details of this episode:Pruning for growth Getting your firm ready to sell Understanding the benefits of a broker when planning your exit Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netAccounting Practice Sales – Buy or Sell | Poe Group Advisors
Jan 23, 2023 • 52min
Getting Things Done® with David Allen
“GTD® doesn't deliver a solution; it delivers hope. How much people want to take advantage of that is up to them. GTD® and implementing these best practices—capture, clarify, organized, reflect, and engage—of how you get stuff under control in your life and work, they don't give you more time. They give you more room. What you do with that room is unique to you.” – David Allen The finer details of this episode:• Meeting management and setting boundaries for back-to-back meetings • The need for GTD® in a team environment—not just individually • The importance of setting and understanding what your priorities are Episode resources:• Summit CPA website – summitcpa.net• Email us with questions – vcfo@summitcpa.net• Getting Things Done® – https://gettingthingsdone.com/
Jan 9, 2023 • 45min
Divvy: Empower Spending Using Simple Controls With Zac Heinz
“Divvy is a software company first. And then we found that we had to tie a card into it. It’s the web application; it's the mobile application; it's the Divvy Smart credit card. What's nice about this is that it's one integrated solution. You don't have to go find a card solution and then buy a software to lay over the top of it and vice versa. You don't need to find a software that you really like and then have to go find a card that might work into it.” – Zac HenizThe finer details of this episode:How Divvy empowers both business owners and employees to manage spendingCreating virtual and one-time-use cards to offer further security parameters Spend and expense transactions with ease using Divvy Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netDivvy – https://getdivvy.com/
Dec 26, 2022 • 42min
Top 3 Ways to Build Client Relationships With Hannah Hood
Episode Notes“The top three things that people can do to build client relationships would be take a posture of people over profit, to follow through and follow up, and to remember going into those relationships that, it's not about you. Take yourself out of the equation first and understand your client's goals.” – Hannah HoodThe finer details of this episode:Understanding your personality and how to work with different personality typesEstablishing relationships built on trust and transparency How to implement Hannah’s three tips to improve and build client relationships Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.net
Dec 12, 2022 • 48min
Optimize Planning Using PlanGuru with Christian Wielage
“We've designed a pretty flexible tool. It’s turnkey when you need it to be, like determining cashflow. We've got some really cool stuff in the pipeline right now from a development perspective and KPIs.” -Christian Wielage The finer details of this episode:How using a software planning tool like PlanGuru helps advisors/CFOs make sound business decisionsTools and resources offered by PlanGuruWhy today’s firms need PlanGuru to stay relevant and offer real-time solutions Episode resources:Summit CPA website – www.summitcpa.netEmail us with questions – cpa@summitcpa.netPlanGuru | Business Budgeting Software, Business Planning Software
