The Modern CPA Success Show

著者： Summit Virtual CFO by Anders
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  • 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.
    2023 Summit Virtual CFO by Anders
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  • Tips for Building a Firm Worth Growing: Ideal Clients and Strong Networks with Michael Clarke

    Tips for Building a Firm Worth Growing: Ideal Clients and Strong Networks with Michael Clarke
    2024/09/16
    “The smartest people in the world know where their expertise ends and someone else's begins. We all need to understand that because if we're on the right team, everybody wins.” – Michael ClarkeThe finer details of this episode:• Transitioning from individual-centric practices to sustainable business models in professional services.• Importance of teamwork and collaboration among professionals serving the same clients.• Common mistakes made by professional service providers in managing their firms.• Strategies for building trust and effective communication with clients.• The significance of understanding and targeting ideal clients for growth.• The role of support staff in enhancing client relationships and operational efficiency.• The concept of “trust compression” and its impact on client onboarding and retention.• Emphasizing education and clear communication in the advisory process.• The value of networking and continuous learning for professional development.Episode resources:● Summit Virtual CFO by Anders website: https://www.summitcpa.net/● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/● Connect with Michael here:● Check Protection Point Advisors out here: https://www.protectionpointadvisors.com/advisors/team/mike-clarke/ Timestamps:Welcome and Introduction (00:00:00)The host introduces the podcast and its mission to provide insights for accounting firms.Guest Introduction (00:00:22)Adam shares his thoughts on the upcoming discussion with guest Michael Clarke and his book.Michael Clarke's Career Journey (00:01:40)Michael discusses his background in the insurance industry and the founding of Protection Point Advisors.Overview of "A Firm Worth Building" (00:03:03)Michael explains the motivation behind his book and the lessons learned from his mistakes.Transitioning from Individual Practice to Business (00:04:13)Michael emphasizes the importance of moving from individual-centered practices to sustainable business models.Building Relationships with Other Professionals (00:06:03)Michael highlights the value of collaboration between professionals to enhance client service.Common Mistakes in Firm Management (00:09:21)Michael identifies key mistakes professionals make, such as being the center of their practice.Practical Lessons in the Book (00:12:12)Adam asks Michael to share one crucial lesson from his book on managing professional firms.Understanding Trust Compression (00:12:50)Michael introduces the concept of trust compression and its significance in client relationships.Education as a Key Element (00:15:27)Michael discusses the importance of educating clients to build trust and improve service quality.Applying Trust Compression Beyond Onboarding (00:17:59)Michael suggests ways to apply trust compression in various processes, not just onboarding.Making Client Interactions Painless (00:19:01)Michael stresses the need to solve client problems while making the process as painless as possible.Good Growth Explained (21:22)Michael discusses the concept of "good growth" and why professionals struggle with it.Identifying Ideal Clients (22:48)He emphasizes the importance of knowing your ideal clients to avoid bad growth.Balancing Growth and Client Quality (23:35)The speakers discuss the challenge of balancing client acquisition with maintaining quality.Building a Reliable Referral Network (25:09)Michael shares insights on developing a trustworthy referral network for business growth.Creating Effective Partnerships (27:34)He explains how partnerships can enhance client services and improve business outcomes.Edifying Team Members (32:21)Michael stresses the importance of building up colleagues to foster trust and collaboration.Managing Client Growth (33:17)Discussion on the common belief of firing low-priced clients to make room for better ones.Building What Should Exist (39:43)Michael defines his philosophy of creating optimal solutions for client care within CPA firms.Practical Changes in Practice (00:41:08)Discusses how professionals can implement small, incremental changes rather than overhauling their entire practice.Importance of Support Staff (00:41:58)Emphasizes the role of support staff in making professionals look good and the need to value them properly.Learning to Manage (00:42:41)Michael reflects on his journey to becoming a better boss and the importance of self-improvement.Transitioning from Doing to Managing (00:43:12)Highlights the urgency for professionals to transition from doing the work to effectively managing their business.Collaborative Learning in Networks (00:44:48)Michael advocates for joining networks to learn from peers and create a collaborative environment for growth.Inspiration and Continuous Learning (00:46:05)Encourages surrounding oneself with inspiring individuals and cultivating a habit of reading for ...
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    47 分
  • Navigating the Complexities of Financial Planning for Business Owners with Adam Koós

    Navigating the Complexities of Financial Planning for Business Owners with Adam Koós
    2024/09/02
    “Procrastination is a huge problem, but the bigger problem is the lack of awareness of the need for owners to start planning now, whether you're selling in three years or 13 years.” – Adam Koós The finer details of this episode:Financial strategies for clients with appreciated propertiesChallenges faced by business owners in managing real estate assets and company structuresTax implications of selling a business and recasting financialsImportance of proactive financial planning and business transition for business owners Episode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.comCheck out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/Connect with Adam here: https://www.linkedin.com/in/adamkoos/Check out Libertas Wealth here: http://www.LibertasWealth.com Timestamps:The introduction (00:00:00)The hosts introduce the podcast and its mission, providing insights on accounting strategies and innovative tools. Adam's career story (00:00:55)Adam shares his unconventional career journey from pre-med to becoming a financial advisor and the founding of Libertas Wealth Management Group. Services provided by Libertas (00:04:45)Adam discusses Libertas' services, including financial planning, retirement planning, exit planning for business owners, and working with working professionals. Financial strategies for clients with appreciated properties (00:07:26)Adam explains the 1031 exchange and passive real estate investing as a solution for clients with appreciated properties who want to avoid active management and taxes. Liquidity and risk management in passive real estate investing (00:13:51)The discussion explores the liquidity and risk management aspects of passive real estate investing, including spreading risk by investing in multiple properties. Impact of COVID-19 on commercial real estate (00:15:39)Adam discusses the potential impact of COVID-19 on commercial real estate, including lease expirations and mortgage debt held at community banks. Elevate your firm with a virtual CFO playbook (00:16:36)An advertisement for a comprehensive online series to create and deliver scalable CFO services. Real estate and business ownership (00:17:18)Discussion on the strategy of keeping the building and retaining an income stream after retirement. Transition planning and exit planning (00:18:00)Clients' experiences in selling their companies, keeping properties, and the process of selling properties. Engagements with business owners (00:18:55)Exploration of the two types of engagements with business owners, focusing on personal and business guidance. 12-step process for business owners (00:19:47)Explanation of the 12-step process to increase the value of the company, decrease time in the business, and increase efficiencies. Risk assessment and advisory work (00:21:34)Discussion on risk assessment, tax planning, and the need for expert assistance in various aspects of business planning. Recasting and tax strategies (00:23:47)Importance of recasting business expenses and tax strategies for business owners preparing to sell. Cash balance plan and retirement strategies (00:26:27)Explanation of cash balance plans, retirement contributions, and tax reduction strategies for business owners. Exit planning and retirement (00:31:05)Discussion on optimizing cash, Roth conversions, and planning for retirement and exit strategies. Procrastination and Lack of Awareness (00:33:17)Consequences of procrastination in business planning and the lack of awareness about the need for owners to start planning now. Running a Good Business (00:35:22)The importance of running a good business and differentiating between a lifestyle business and building an asset. Transition Planning and Business Value (00:36:32)The importance of business transition planning and its impact on the value of the company, providing an analogy for understanding the benefits. Selling a Business and Pitfalls (00:39:46)The speakers discuss the pitfalls of selling a business without proper planning and the impact of disagreements between owners on the selling process. Taking Action and Accountability (00:42:12)The need for taking action, breaking down steps into smaller tasks, and the importance of accountability in business planning. Spreading Awareness and Seeking Expertise (00:44:23)Adam urges CPAs to spread awareness about business planning and transition, emphasizing the role of experts in facilitating the process.
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    46 分
  • Redefining Financial Planning and Reporting for Small Businesses and Startups with Blagoja Hamamdjiev

    Redefining Financial Planning and Reporting for Small Businesses and Startups with Blagoja Hamamdjiev
    2024/08/19
    “The reason I started Modeliks is because it took me three weeks to create a proper financial model in Excel for every new client. With our predefined financial model template, you have that handed to you on a plate.” – Blagoja HamamdjievThe finer details of this episode:Discussion about business planning and financial reporting software for startups and small businessesMain features of Modeliks software, including financial planning, budgeting, and advisory servicesImportance of driver-based financial planning and its impact on business resultsCost-effectiveness and pre-defined financial model templates by industry within the softwareIntegration of financial tables and charts with pitch decks and business plansEfficiency and time-saving benefits of using the software for financial modeling and planningDashboard functionality, including tracking financial progress and accessing various chartsUser experience and flexibility of the software, including multi-user collaboration and planned AI integrationLevels of support provided by Modeliks, including customer support and live sessions with screen sharing Episode resources:Summit Virtual CFO by Anders website: https://www.summitcpa.net/If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.comCheck out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/Check out Modeliks, here: www.modeliks.com Timestamps:The introduction (00:00:00)The hosts introduce the podcast and its mission, setting the stage for the upcoming episode. Guest Introduction and Background (00:01:48)The hosts introduce Blagoja Hamamdjiev, CEO and founder of Modeliks, and discuss his personal and professional background. Global Nature of Modeliks (00:04:22)Blagoja discusses the global footprint of Modeliks, including the location of their team and their incorporation in Ireland. Using Modeliks for Financial Planning and Advisory Services (00:07:51)Blagoja explains how Modeliks can be used for creating financial plans, pitch decks, and business plans, including its applications for advisory services. Driver-Based Financial Planning (00:11:32)Blagoja delves into the concept of driver-based financial planning and its importance in managing and improving businesses. Integration of Financials with Pitch Deck and Business Plan (00:16:29)Discussion on how Modeliks integrates financials with pitch decks and business plans, providing a unique and efficient solution for businesses. Cost and Industry-Specific Financial Model Templates (00:19:31)Blagoja highlights the cost-effectiveness of Modeliks compared to other software and the availability of industry-specific financial model templates within the software. Creating Financial Models (00:20:26)Blagoja explains the time-consuming process of creating financial models in Excel and the efficiency of using Modeliks templates. Flexibility and Data Integration (00:22:31)Discussion on the flexibility and data integration capabilities of Modeliks, including the current and planned data input methods and integrations. Dashboard and Reporting Functionality (00:28:12)Blagoja details the dashboard and reporting functionalities of Modeliks, including variance analysis, charts, ratios, and custom KPIs. Future AI Integration (00:32:01)The planned integration of AI features in Modeliks, such as generative writing and AI analysis of financial numbers, is discussed. Challenges in Financial Planning (00:34:29)The challenges CPAs face in creating financial models and the barriers to providing advisory services are explored. Excel vs. Other Tools (00:36:26)The use of Excel in financial planning and the challenges and benefits of using other software tools are discussed. Collaboration and Pricing (00:38:53)The flexibility and real-time collaboration capabilities of Modeliks, as well as the pricing structure and value proposition, are explained. Support and Training (00:40:22)The support and training options available for users of Modeliks, including live support and demo calls, are discussed. Live Support and Niche Industry Models (00:40:54)Discussion about live support, niche industry financial models, and personalized assistance for clients. Help Center and Training Videos (00:42:00)Explanation of the extensive help center with training videos and the value of personalized onboarding and training sessions. Consolidation Feature and Multi-Dimensional Planning (00:43:52)Upcoming features in the software, including a consolidation feature and multi-dimensional planning for more complex businesses. Future Software Updates (00:45:29)Anticipation for upcoming software updates, including QuickBooks integration, multi-dimensional planning, and localization in different languages. Advisory Services and Financial Planning (00:45:55)The importance of advisory services and the value of creating a useful financial plan based on drivers. Passion for Driver-Based Financial Planning (00:47:...
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    49 分

あらすじ・解説

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.
2023 Summit Virtual CFO by Anders
マネジメント 経済学
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