エピソード

  • 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 ...
    続きを読む 一部表示
    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.
    続きを読む 一部表示
    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:...
    続きを読む 一部表示
    49 分
  • Strategies for Revolutionizing Client-Centered Financial Advisory with Tyson Ray

    Strategies for Revolutionizing Client-Centered Financial Advisory with Tyson Ray
    2024/08/05
    “The total relationship is about making life better for the client, focusing on what they need in the next 6 to 12 months, and helping them prioritize their financial decisions.” –Tyson RayThe finer details of this episode:The concept of the "total relationship" in financial planningThe importance of understanding clients' short-term goals and concernsThe role of wealth advisors in understanding clients' motivations and aspirationsProactive planning and collaboration between financial advisors, CPAs, and attorneysEducating clients about tax planning, investment decisions, and trade-offsSeeking deeper, more fulfilling connections beyond just financial mattersEpisode 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 Tyson here: https://www.linkedin.com/in/tysonray/Check out Form Wealth Advisors here: https://formwealth.com/Tyson’s resources mentioned in the episode: https://totalrelationship.com/moderncpa Timestamps:The welcome and introduction (00:00:00)Introduction to the podcast and the mission of providing insights for accounting firms. Guest introduction and perspective (00:00:30)Discussion about the unique perspective of the guest, Tyson Ray, and the value he brings to the audience. Introduction to the show and guest (00:00:53)The host and guest host introduce themselves and welcome the audience to the show. Tyson Ray's background and mission (00:01:19)Tyson Ray introduces himself, his role, and his mission to help clients and the community. The total relationship and client value (00:02:43)Discussion about the importance of understanding the client's needs and building a valuable relationship. Expanding services and expertise (00:03:40)Tyson Ray's decision to expand his expertise and focus on business exit planning. The Total Relationship book (00:05:05)Introduction to the book "The Total Relationship" and its focus on client relationships and communication. Client-focused planning approach (00:06:31)Explanation of the three parts of the total relationship: life plan, wealth plan, and care plan. Client relationship parallels (00:08:10)Discussion about the similarities in client-focused approaches between wealth management and financial business services. Prioritizing client needs (00:08:31)The importance of prioritizing client needs and guiding them through their financial journey. Life plan and client background (00:10:04)Exploration of the life plan, including family, health, and personal goals, to better understand the client's needs. Client's family and personal life (00:11:28)The significance of understanding the client's family dynamics, including parents, children, and personal experiences. Life plan and client's lifestyle (00:14:18)Discussion about the life plan, including travel, recreation, home improvements, and major purchases, to enhance the client's lifestyle. Client's life plan and financial decisions (00:15:53)The importance of aligning financial decisions with the client's life plan and rewarding themselves for their hard work. The Total Relationship and client permission (00:17:10)Exploration of the client's permission to prioritize their life plan and the role of advisors in supporting their goals. Life Plan (00:19:16)Advisors asking forward-looking questions, encouraging clients to enjoy their wealth and plan for personal goals. Virtual CFO Playbook (00:19:57)Promotion of a comprehensive online series to equip firms with essential tools for scalable CFO services. Wealth Advisor Conversations (00:20:40)Discussing the process of building trust with clients, understanding motivations, and opening conversations about personal and business goals. Life Plan and Wealth Plan Intersection (00:22:03)Exploring the connection between life and wealth plans, emphasizing the importance of understanding clients' personal and business needs. Wealth Plan Proactivity (00:23:58)Identifying cash management, business debt, and proactive planning to navigate financial crises and business transitions. Business Succession and Life Plan (00:27:03)Addressing business owners' plans for exiting their businesses, including transitions and contingency planning. Collaboration and Tax Planning (00:28:50)Highlighting the benefits of collaboration between financial advisors, CPAs, and law firms for better client outcomes. Future-Focused Financial Advice (00:30:44)Emphasizing the importance of future-focused financial advice and the collaboration between wealth management and tax planning. Caring for Financial Future (00:31:23)Reminding clients of their goals, proactive service, and helping clients make informed financial decisions. Personal Wealth Building (00:34:09)Encouraging clients to consider personal wealth-building options and the impact on business ...
    続きを読む 一部表示
    46 分
  • The Partner Every Firm Needs: Simplifying Business Startup and Compliance with Nellie Akalp

    The Partner Every Firm Needs: Simplifying Business Startup and Compliance with Nellie Akalp
    2024/07/22
    Episode Notes:“Our mission is to educate, inspire, and support accountants, financial advisors, and CFOs who are representing a client with a need for any type of entity filings, entity setup, entity expansion, or payroll tax registration services.” – Nellie AkalpThe finer details of this episode:Services offered by CorpNet and their benefits for accountants and clientsChallenges faced by accountants in providing comprehensive services to their clientsImportance of accountants offering entity filings, setup, expansion, and payroll tax registration servicesCorpNet’s partner program and its benefits for accountantsManaging compliance requirements for clients' business entitiesBenefits of outsourcing business filings and compliance tasks for accountants 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 Nellie here: https://www.linkedin.com/in/nellieakalp/Check out CorpNet here: https://www.corpnet.com/ Timestamps:Introduction to podcast (00:00:00)Introduction to the podcast, mission statement, and topics covered. Overview of CorpNet.com services (00:00:58)Introduction to CorpNet.com and its services for accountants and their clients. Nellie Akalp's entrepreneurial journey (00:01:18)Nellie Akalp shares her entrepreneurial journey and the vision behind CorpNet.com. Challenges faced by accountants (00:05:06)Discussion on the challenges accountants face in offering comprehensive services to their clients. Benefits of CorpNet.com partner program (00:11:09)Explanation of the benefits of CorpNet.com's partner program for accountants. Core services offered by CorpNet.com (00:17:14)Description of the core services provided by CorpNet.com, including business filings, compliance, and payroll tax registration. Impact of COVID-19 on CorpNet.com (00:19:22)Discussion on the increased demand for services during COVID-19, particularly regarding payroll registration in multiple states. Differences in starting a company in the past and present (00:22:26)Comparison of the entrepreneurial experience in the past and present, including the challenges and differences in market entry. Client consultation and advice (00:24:29)Discussion on typical new client scenarios and advice provided when starting a new company. Educational services for new business owners (00:24:44)Nellie Akalp discusses the educational aspect of CorpNet.com's services for new business owners, including guides, webinars, and podcasts. Support for accountants starting their own firm (00:25:19)Nellie Akalp explains how CorpNet.com assists accountants in starting their own firm by providing guidance, resources, and educational materials. Benefits of partnering with CorpNet.com (00:26:41)Nellie Akalp outlines the advantages for accountants in partnering with CorpNet.com, including early client engagement, business growth, and a complete advisory service. Enhancing firm capabilities through partnerships (00:28:02)The discussion centers around the benefits of partnering with CorpNet.com for small firms to offer comprehensive services and appear as a larger, full-service firm. The mistake accountants make in not offering services (00:29:49)Nellie Akalp emphasizes the missed opportunities for accountants by not offering services like entity filings and compliance, and the potential benefits of such offerings. Corporate compliance portal for accountants (00:33:19)The conversation focuses on CorpNet.com's corporate compliance portal, which simplifies tracking and monitoring compliance requirements for accountants and their clients. Challenges and consequences of compliance errors (00:40:25)The discussion highlights the challenges and consequences of compliance errors, emphasizing the importance of staying current and the potential repercussions of non-compliance. The value of corporate compliance services (00:39:27)Nellie Akalp discusses the benefits of corporate compliance services for accountants, emphasizing the time-saving and reputation-building aspects. Initiating partnership with CorpNet.com (00:45:32)Nellie Akalp provides details on initiating a partnership with CorpNet.com, including the process of signing up, onboarding, and accessing marketing materials. Account Manager and Onboarding Process (00:47:35)Discusses the benefits of having a dedicated account manager and the importance of onboarding process for success. Client Engagement and Delegation (00:48:56)Compares the process of client engagement and delegation to the success of the program. Signing Up and Partner Options (00:49:50)Provides information on how accountants can sign up for the partner program and the various options available. Contact Information and Upcoming Event (00:51:01)Shares contact details for signing up and promotes the upcoming...
    続きを読む 一部表示
    53 分
  • Navigating Work-Life Balance: A Candid Conversation on Stress in the Workplace with Joey Kinney

    Navigating Work-Life Balance: A Candid Conversation on Stress in the Workplace with Joey Kinney
    2024/07/08

    “In the American workplace, 80% of workers feel stress on the job, and nearly half say they need help in learning how to manage stress. If your people are stressed and they're not talking to you about it, that's a clue that you need to change something in your organization.” – Joey Kinney

    The finer details of this episode:

    ●Stress management in the workplace and at home

    ●Challenges of setting boundaries and prioritizing tasks in work-life balance

    ●Impact of stress on personal lives and managing competing interests

    ●Role of leaders in addressing recurring structural problems contributing to stress

    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/
    • For more on David Allen’s Getting Things Done® approach mentioned in the episode, check out the Modern CPA Success Show’s episode with Tom and David Allen: https://podcasts.apple.com/us/podcast/getting-things-done-with-david-allen/id1485035727?i=1000595997191

    Timestamps:

    The podcast introduction (00:00:00)

    Introduction to the podcast and its purpose.

    Discussing the intention of merging podcasts (00:00:33)

    Exploring the idea of merging podcasts to create intentional opportunities for audiences to interact.

    The impact of stress in the workplace (00:01:04)

    Exploring the impact of stress on individuals in the workplace and the need for stress management.

    Challenges in managing work-life balance (00:03:07)

    Challenges in compartmentalizing work and home life, and the evolving understanding of work-life balance.

    Statistics on workplace stress (00:04:52)

    Statistics on workplace stress, including the percentage of workers feeling stress and the need for stress management.

    Personal experience with stress and its impact on health (00:06:00)

    Personal experience with stress-related health issues and the impact on blood pressure.

    Impact of stress on decision-making and anxiety (00:09:20)

    The impact of stress on decision-making, anxiety triggers, and external locus of control.

    Managing conflicting priorities and setting boundaries (00:14:31)

    Strategies for managing conflicting priorities, setting boundaries, and learning to say no.

    Practical tips for stress management (00:16:02)

    Practical tips for stress management, including exercise, meditation, and acknowledging anxiety.

    Defining Boundaries (00:18:01)

    Discusses setting clear limits and commitments to avoid stress and exploding on others.

    Making Decisions to Reduce Stress (00:18:41)

    Explores the concept of making one decision now to avoid making multiple decisions later.

    Saying No and Prioritizing (00:19:38)

    Discusses the importance of saying no to tasks and commitments and prioritizing responsibilities.

    Recognizing Personal Limits (00:20:23)

    Shares experiences of struggling with certain tasks and the importance of acknowledging personal limitations.

    Getting Things Done Approach (00:22:55)

    Discusses the approach by David Allen for organizational models and stress management.

    Acknowledging Stress and Anxiety (00:25:21)

    Emphasizes the importance of acknowledging stress and anxiety instead of denying or internalizing it.

    Creating a Safe Space for Stress Discussions (00:26:13)

    Encourages leaders to create an environment where employees feel safe discussing stress and challenges.

    Leadership's Role in Stress Management (00:29:21)

    Highlights the role of leaders in initiating conversations about stress and creating a supportive environment.

    Addressing Structural Problems (00:32:54)

    Emphasizes the importance of leaders addressing recurring structural problems causing stress.

    Managing Stress in the Workplace (00:33:32)

    Encourages individuals to manage stress rather than seeking a stress-free job, acknowledging personal responsibility.

    Stress Management Tools (00:35:02)

    Discussion on effective stress management tools for creating a positive work environment and improving productivity.

    Closing Remarks (00:35:18)

    Tom expresses gratitude for the conversation, and Joey reciprocates the sentiment.
    続きを読む 一部表示
    36 分
  • How Can a Formalized Onboarding Process Transform Your Accounting Firm's Success?

    How Can a Formalized Onboarding Process Transform Your Accounting Firm's Success?
    2024/06/24

    “Your Spidey sense has to be high during onboarding. If you start to sense frustration from the client, there might be something else that you need to dig into. I might send them a quick note and say, ‘hey, do you mind if we talk tonight?’ and I offer up my cell phone number. I've never had a client abuse it. In fact, as you start to build those relationships, they'll text you just like your friends; they don't talk business. It's really important that you establish that relationship and that connection.” – Adam Hale


    The finer details of this episode:

    • Importance of formalized onboarding processes
    • Building strong client relationships
    • Leveraging support resources for successful onboarding
    • Significance of discovery in the onboarding process
    • Building relationships with clients and internal team members
    • Leadership and collaboration in ancillary roles
    • Leveraging resources and coaching relationships for career progression
    • Effective communication and collaboration within the team and with clients
    • Tailoring services to meet specific client needs
    • Utilizing available resources for ongoing success

    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 us on LinkedIn: https://www.linkedin.com/company/vcfobyanders/, https://www.linkedin.com/in/adamhalecpa/, https://www.linkedin.com/in/joey-kinney-cpa-60658188/

    Timestamps:

    Welcome to the Modern CPA Success Show (00:00:00)

    Introduction to the podcast and its mission to provide insights on accounting innovations.

    Background of Onboarding (00:00:58)

    Discussion on the formalization of the onboarding process and its importance for client success.

    Discovery Process in Onboarding (00:04:28)

    Importance of the discovery process in understanding client's financial status and needs.

    Elevate Your Firm with a Virtual CFO Playbook (00:05:08)

    Promotion of a comprehensive online series for providing scalable CFO services.

    CFO's Perspective on Discovery (00:06:19)

    Insight into the CFO's perspective on client discovery and understanding their business goals.

    Building Relationships in Onboarding (00:09:26)

    Tips for building relationships with clients and internal team members during the onboarding process.

    Client Relationship and Engagement (00:13:45)

    Importance of establishing trust and personal connections with clients during the onboarding process.

    Support Resources in Onboarding (00:17:33)

    Discussion on the role of support resources, including project managers and financial support, in the onboarding process.

    Architecting and Leading Engagement (00:18:32)

    Discussion on the role of CFOs in leading engagements and leveraging resources effectively.

    Coaching Expectations (00:19:39)

    Exploration of the coaching structure and the expectations for individuals seeking coaching.

    Utilizing Resources and Collaboration (00:20:57)

    Importance of utilizing resources, seeking help, and collaborating for successful outcomes.

    Expectations and Collaboration (00:22:29)

    Emphasizing the importance of understanding and articulating expectations, collaboration, and managing up within the team.

    Success and Relationship Building (00:27:09)

    Defining success in terms of utilizing the team's capabilities, building relationships, and collaborating with clients and internal teams.

    Onboarding and Client Relationships (00:25:48)

    Discussion on the importance of understanding client needs, building rapport, and setting up successful advisory relationships.

    Standardizing vs. Tailoring (00:28:33)

    Balancing standardization with tailoring to meet the unique needs of each client during onboarding.

    Conclusion and Future Training (00:29:22)

    Acknowledgment of the importance of onboarding, overview of training, and setting expectations for success.
    続きを読む 一部表示
    30 分
  • Strategies for Setting Boundaries and Managing Scope in Advisory Work with Chris Papin

    Strategies for Setting Boundaries and Managing Scope in Advisory Work with Chris Papin
    2024/06/10

    “Spending time onboarding can be tough for firms because it's not billable, but it is probably more important for the value proposition.” – Chris Papin


    The finer details of this episode:

    • Scoping, setting boundaries, and having next step conversations with clients
    • Subscription-based model and building slack into engagements
    • Managing scope creep in advisory work
    • Impact of economic changes on client needs
    • Aligning client and firm expectations
    • Implementing change orders for additional services
    • Onboarding and spending time on non-billable activities

    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/
    • https://www.papincpa.com/
    • https://www.linkedin.com/in/chrispapin/

    Timestamps:

    The Introduction (00:00:00)

    Introducing the podcast and its mission to provide insights on accounting strategies and services.

    Chris Papin's Background (00:00:56)

    Chris Papin shares his journey and the motivation behind his multi-disciplinary approach to accounting, law, and insurance.

    Ethical Trust Advisor (00:04:24)

    Chris discusses the importance of ethical trust advisor pillars and the difference between scope and boundaries in client relationships.

    Scope and Boundaries (00:06:45)

    The discussion delves into the approach to defining tasks and boundaries in accounting services, emphasizing the need for flexibility and communication.

    Strategic Advisor and Boundaries (00:13:18)

    Chris explains the role of a strategic advisor and the ongoing conversation needed to establish and maintain boundaries with clients.

    Client Communication and Education (00:17:02)

    The conversation revolves around the challenges of communicating technical accounting concepts to clients and the importance of client education and trust-building.

    The slippery slope of advisory work (00:20:32)

    Discussion on the challenges of defining boundaries and managing scope creep in advisory work.

    Talking about talking about it (00:21:48)

    Emphasizing the need for action and the impact of missed deadlines on client behavior.

    Value and hard conversations (00:25:00)

    Exploring the importance of adding value, having opinions, and asking tough questions in client meetings.

    Client expectations and firm alignment (00:33:06)

    Aligning client and firm expectations early in the process to determine next steps and potential change orders.

    Empowerment and change order process (00:38:55)

    Discussion on team empowerment to handle conversations and initiate change orders, with consideration for unique client situations.

    The client's expectations (00:40:05)

    Managing client expectations and limitations when dealing with out-of-state matters.

    Client engagement model (00:40:56)

    Discussing the importance of clarity in scoping, fees, and trust in client relationships.

    Value proposition and onboarding (00:42:47)

    Emphasizing the significance of understanding client needs and effective onboarding for a successful value proposition.

    Reflecting on client boundaries (00:43:11)

    Recognizing the need to assess and address potential client relationship boundaries and discomfort in addressing issues.

    Concluding remarks (00:44:07)

    Expressing gratitude and appreciation for the insightful conversation.
    続きを読む 一部表示
    44 分