Grow My Accounting Practice | Tips For Accountants & Bookkeepers To Grow Their Business

Show Summary In this episode of the Grow My Accounting Podcast, Annette de Lancey, a seasoned expert in manufacturing business ownership and management, shares valuable insights. She highlights the stark differences between service and manufacturing businesses, emphasizing the importance of profitability for growth and scalability. Annette's expertise covers both in-house manufacturing and outsourcing, providing listeners with a comprehensive understanding of the industry. Annette delves into the unique challenges and opportunities when working with manufacturing clients, emphasizing the significance of effectively managing costs and optimizing profit margins. She highlights the critical role of the cost of goods sold (COGS) in manufacturing operations and how it impacts financial health. Additionally, Annette discusses the value of collaboration, showcasing her successful partnership with Jason Snyder, a PFP Mastery Member, in creating a captivating livecast/podcast. Together, t

Show Summary In today's GMAP episode, we welcome Kasey Anton, a Profit First Professional and author of "Profit First for Restaurants." Kasey shares her expertise in transforming restaurants into cash-making machines through the implementation of Profit First principles. With a background in the restaurant industry and experience as a business consultant, Kasey understands the unique challenges faced by restaurant owners. She emphasized the importance of understanding the business model, analyzing costs, and driving profitability through informed decision-making. Kasey's direct approach in working with restaurant owners focuses on actionable steps to improve financial performance. By identifying areas of waste, reducing expenses, and implementing Profit First strategies, she helps restaurants become more financially efficient. Her book, "Profit First for Restaurants," offers practical guidance tailored specifically to the restaurant industry. It provides actionable strategies to

Show Summary Join us on the latest episode of Grow My Accounting Practice Podcast as we sit down with Wally Malesh, an Executive Coach with KW MAPS, for an insightful conversation on various topics related to business planning, financial strategies, and personal growth. Here's a glimpse of what to expect: Starting Business Planning with Profit: Wally shares insights on implementing Profit First principles from the beginning, setting a strong foundation for success. Staying the Course: Discover how to maintain consistency and persevere through challenges on your entrepreneurial journey. Financial Master Mind Group: Learn the benefits of collaborating with like-minded individuals to enhance your financial intelligence. Paying it Forward: Hear inspiring stories of giving back and supporting others to fuel personal growth and fulfillment. Beyond Profit First to Wealth Planning: Explore strategies for long-term financial security and achieving wealth goals beyond Profit Firs

Show Summary David Steininger, a guest on the Grow My Accounting Practice Podcast, shares valuable insights on various aspects of entrepreneurship. David discusses his journey of starting his business, highlighting the importance of taking small steps and making incremental improvements along the way. The episode continues where David explains the motivation behind Self-Employment Sidekick and emphasizes the significance of entrepreneurs having a sidekick or support system. He underscores the role of a supportive community in the success of entrepreneurs. He also explores common challenges faced when transitioning to full-time self-employment. David provides practical advice on overcoming these obstacles and shares strategies to navigate the path to entrepreneurship successfully. Next, David reveals one of the initial coaching steps he takes with his clients. He focuses on helping clients align their lifestyle with their business goals, ensuring a harmonious balance that leads to long-term success. Finally,

Show Summary Join David as he delves into the significance of automating financial and accounting processes and the advantages of seamless data integrations. In his presentation, David will specifically focus on the return on investment (ROI) that automation brings to Client Accounting Services (CAS). By attending this podcast, you'll gain insights on the following benefits of automation for CAS: a remarkable 70-80% reduction in manual data loading efforts into your ERP system a substantial ROI within the first year and ongoing growth, and an accelerated close process Discover how to minimize manual work and maximize billable hours by harnessing the power of automation.   Website: https://lp.datablend.com/outsourcing-roi https://datablend.com/ LinkedIn: https://www.linkedin.com/in/furthdavids/ Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Shweta Patel shares her inspiring journey encompassing various aspects of her life. As a physician, she initially struggled with understanding and managing finances, referring to herself as financially dyslexic. However, her experience as a Navy doctor and veteran provided her with invaluable insights and the opportunity to contribute to the healthcare of military personnel. Transitioning from real estate investing to entrepreneurship, Shweta took on the challenge of launching her own startup, demonstrating her willingness to embrace new ventures and take risks. Throughout her endeavors, she emphasized the importance of looking beyond oneself and striving for global impact, reflecting her aspiration to create positive change on a larger scale. Shweta Patel's story embodies resilience, growth, and the pursuit of making a difference in both personal and global spheres.   Website: https://gayawellness.org/ Facebook: https://www.facebook.com/GAYAWELLNESS.ORG Instagram: https://www.instagram

Show Summary In the beginning, it was very hard for Christina to reconcile service and business because she wanted to serve and help people. It was difficult to equate that with a billable amount – charging someone for helping them when she was unsure of her own value. The notion of "let me help you because I was blessed with this skillset, but let me charge you for it" didn't feel like a natural fit. Initially, Christina took on many clients whom she loved, and each lesson was valuable, but she didn't charge what she was worth. She worked tirelessly for minimal compensation. What she failed to recognize was that while she was focused on serving others, she had a commitment to her family that she was inadvertently neglecting. Our body's internal response to fear and excitement is the same. Rather than always saying, "I'm scared," Christina realized there was a part of her that felt excitement about the possibilities beyond fear. She recognized that her gut instinct was her guide. Sometimes we find o

In this engaging show, we delve into the topic of "Is your overwhelm an ops issue?" Our discussion explores various aspects related to operational streamlining and how it can uncover areas of opportunity. Melissa Morris, the founder of Agency Authority, addresses common challenges faced by businesses, including marketing gaps, overly customized offers, inconsistencies in the business model, unmet team needs, and the absence of performance standards and evaluations. Additionally, we examine operational mis-fixes that can hinder progress. These missteps may include haphazardly shifting internal communications from email to Slack without a defined communication plan, relying on templated workflows that may not suit specific requirements, or hastily changing project management tools due to outgrowing the current system. Melissa emphasizes the importance of avoiding such pitfalls. Furthermore, Melissa sheds light on how accidental firm or practice owners often develop their business processes in isolated silos. We

Show Summary In this episode, Mike shares the details of Clear Path To Cash. It consists of eight financial concepts aimed at helping businesses maximize their cash in various situations. Mike asserts his ability to analyze a company's financial statements in 7 minutes or less, thanks to his creation of The Home Run Financial System, a comprehensive technique that covers all essential aspects. His website boasts about his success in uncovering over $150 million in hidden cash for his clients. To illustrate, in January alone, he utilized a technique called Mining Your Business For Hidden Cash, resulting in the discovery of over $1.5 million. This method involves six calculations centered around three Cash Generating Activities and three Cash Conversion Activities specific to one's business. In his book, Mike introduces the term D.U.M.B., which characterizes business owners who Don't Understand My Business. Surprisingly, Mike himself once fell into this category and experienced many of the situations

Show Summary In this episode, Fady shares with us about being a CFO and how it differs from accounting. He also discusses the difference between the skill sets required for accounting and finance, and how a proper CFO and accountant understand this difference. He also mentions the rise of outsourced, virtual, and fractional CFOs, and how the allure of the CFO role has led to people evolving their titles without necessarily evolving their skills, which he finds dangerous. Overall, Fady emphasizes the importance of understanding the skill sets required for the CFO role and the dangers of superficially evolving one's title without actually evolving one's skills.   Website: www.clockwork.ai Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Show Summary "Your health is your most valuable asset." When growing a financial practice it's common for health to take a backseat - and eventually become a liability. But it doesn't have to be that way. Stevyn has discovered that those with better health, less stress, longer healthspans, and more successful, fulfilling careers treat their health like an asset.  Learn more from Stevyn in this episode as she challenges advisors to see health as an integral part of financial planning and inspires them to treat their health like an asset so they can grow 'wellthy.'   Websites: www.growwellthy.com www.growwellthy.com/quiz www.growwellthy.com/wellthwebinars LinkedIn: www.linkedin.com/in/stevyn-guinnip Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Being a Profit First Professional as a Profits coach, the name is something everyone recognizes and it gives her the credibility and makes that introduction to new potential clients easier.  For most business owners, life is overwhelming. You have staffing, hiring, training, customers, customer problems, marketing, but you have to reserve a portion of your calendar to be proactive. This is where your profit generating retains and reviews come into place. Learn more about this from Hilary in this episode of Grow My Accounting Practice Podcast.   Website: https://www.hendershottwealth.com https://www.moneyblueprintprogram.com https://www.instagram.com/hilary.hendershott https://www.facebook.com/hilaryhendershott Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary "Therapists resist profit, when they should embrace it." In this episode, Julie Herres shares about her new book, Profit First for Therapists which will be launched on May 2nd.  "PROFIT EQUALS IMPACT!"   Website: https://www.profitfirstfortherapists.com/ https://www.greenoakaccounting.com/ Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary How can one generate revenue through virtual events? In this episode, Moshe shares with us how he does this and how he was able to raise over $100,000 in sponsorship for his events. Moshe also discusses why we need an abundance mindset and why we should not be afraid of competition. Learn more about some tips and tricks on how to get started or improve your virtual events!   Website: https://www.profitwithlaw.com/ Instagram: https://www.facebook.com/profitwithlaw LinkedIn: https://www.linkedin.com/showcase/profitwithlaw/ Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Start doing something and be consistent. Hone your expertise and talk about it more because that's how people will know you. Be you all out! In this episode, Chris Ducker shares with us why we need multiple steams of income. Chris says that he is a big believer that if you are building a business based around your expertise, skill set, ultimately know for within your industry, it is just smart to have several different revenues of income. He also discusses the 6 Income Heroes he shared when he spoke at ProfitCon. Learn more tips about having multiple streams of income by listening to this episode!   Website: chrisducker.com Instagram: instagram.com/chrisducker Twitter: twitter.com/chrisducker Facebook: facebook.com/chrisduckerdotcom Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Having high energy doesn't always mean you're an extrovert. In this episode, Angie shares with us how she brings out energy as an introvert and builds her confidence to inspire other people, especially other Profit First Professionals to go out there and present themselves. Take a listen!   Website: www.profitfirstprofessionals.com Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary This is a special episode with Relay Financial's CEO and Co-Founder, Yoseph West! We know how challenging it is for people who implement Profit First in their businesses to find a banking solution that works for them and their clients. It takes convincing, negotiating, and adapting to do Profit First banking which costs time and forces you and your clients to make difficult tradeoffs. In this episode, Yoseph shares with us what Relay Financial is and why it is so great for Profit First banking. Relay knows accounting, bookkeeping, and client advisory. The roots of their business lie in the industry. But more importantly, their product truly enables Profit First banking. Relay is a financial technology company, not a bank, which Yoseph explains in this episode. The banking features aren’t the only reason we’re so excited to work with Relay’s team. It comes down to how invested they are in Profit First and the Profit First Professionals community.   Website: www.relayfi.com Corporate Partner: Peop

Show Summary Let's learn from Adrienne Bellehumeur how to make your documentation process fun and exciting. In this episode, Adrienne shares with us that documentation is a collaborative exercise. She also shares with us some of her best practices for delivering "why?" for documenting. She uses a documentation approach she developed called "Dynamic Documentation". Want to learn more? Listen to this episode now!   Websites: https://riskoversight.ca/ https://www.bellehumeurco.com/ Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary "You are in charge of your business", Ron Saharyan. Pricing is important, but Value Starts With HELLO! You realize that accounting and bookkeeping can unlock the potential of any company. Set yourself apart from the competition by asking better questions right from the start. Your future clients want you to understand their vision and goals and understand how you'll get them there. All of this can happen in your very first conversation. Listen more tips from Grow My Accounting Practice podcasts hosts, Mike Michalowicz, Ron Saharyan, and Liz Szporn, and download our FREE guide to learn how and never compete on price again.   Value Starts With Hello: https://profitfirstprofessionals.com/value-starts-with-hello/ Website: https://profitfirstprofessionals.com Corporate Partner: People Process – https://peopleprocesses.com/

Show Summary Jeffrey Shaw shares in this episode how he got the idea of writing a book about self-employment. He stresses that one of the core problems of being self-employed is that they don't ask for help. His book, The Self-Employed Life, is an insightful book for self-driven individuals. Take a listen to this episode and learn more with Jeffrey about Silo Mentality, Hug Marketing, the importance of calling yourself self-employed, and a whole lot more!   Websites: https://jeffreyshaw.com https://selfemployedbusinessinstitute.com LinkedIn: https://www.linkedin.com/in/jeffreyshawauthor/ Instagram: https://www.instagram.com/jeffreyshaw/ Facebook: https://www.facebook.com/JeffreyShawAuthor   Corporate Partner: People Process – https://peopleprocesses.com/