Building Your Multi-million-dollar Practice: With Peter M. Vessenes

We are reaching the end of our series about fiscal management for the 7 major business sectors, with the banking and financial service sector being our last public sector. In this episode of "Building Your Multi Million Dollar Practice,"  Peter M. Vessenes will discuss how banking and financial services get their own division and why the financial services sector represents safety for consumers. 

Today, we are continuing our discussion of the different sectors of business, and covering services, something that accountants and advisors hold near to their heart. The service sector can be broken into either value-added service or goods/products as a service. In this podcast, we will tackle some of the common hurdles many entrepreneurs and their advisors have when building and creating succession planning for service-based businesses.

As we continue to break down the different business sectors, it's apparent that each sector has different factors that need to be considered when advising and building future growth opportunities for different company types. In the last episode we discussed the technology sector, and in this episode we're covering the energy sector! Energy is a massive industry, it's one of the largest sectors due to its influence on the whole global economy. Listen to this episode to learn the 3 most important challenges energy companies must overcome in order to grow.

In the past few episodes of "Building Your Multi Million Dollar Practice" we've been breaking down the different sectors of businesses and what accountants and advisors need to know to help them grow. Today, we are discussing the technology sector. Technology has become such a crucial essential in every day life, and it's not a sector we want to overlook. The first step in advising for cashflow forecasting and fiscal management needs is to differentiate the types of technology. In this podcast, we will cover the different segments and indicators to help you discover the secret to helping your tech companies.

In today's episode, we are discussing the agriculture sector. No matter what type of farm you advise, predicting cashflow is always your biggest challenge as agriculture is a risky business when it comes to forecasting.

There are 7 basic private sectors of business that each come with their own set of advantages and disadvantages when it comes to fiscal management and cashflow forecasting. Our last episode started breaking down the 7 basic private sectors by covering discreet manufacturing. In today's episode of "Building Your Multi-Million Dollar Practice," we will be covering process manufacturing. This sector is made up of companies that create products from raw materials.

To better understand the businesses you advise, you must first know the specific challenges affecting them. There are 7 basic sectors of business that each come with their own set of advantages and disadvantages when it comes to fiscal management and cashflow forecasting. In today's episode of "Building Your Multi-Million Dollar Practice," we will be covering discreet manufacturing. This sector is made up of companies that create inventory by assembling pre-made components. Where process manufacturing takes raw materials and builds from them, discreet takes established components and combines them into a final product.

We all want our business and the businesses we advise to thrive and be able to overcome hurdles, but how do we plan for all of the roadblocks and inefficiencies that can happen? Peter M. Vessenes, founder and CEO of ProfitSee, has outlined 8 key disciplines that affect EVERY business in his book, "Building Your Multi-Million Dollar Practice." In our last episode we covered fiscal management and the client experience. This week we will tackle the 6 other disciplines that business owners and their advisors must be attentive to in order to be successful. 

No matter which sector you service as an accountant, there are 8 disciplines that ring true for every business. Today we will dig into the 2 most important of the 8 disciplines, fiscal management and client experience. Peter M. Vessenes, CEO and Founder of ProfitSee, joins us to discuss how you can help your business clients through cashflow and fiscal management services. 

This episode was inspired by some of the things we heard while at Xerocon San Diego in June 2019. A major topic of the conference was advisory, and while it has become increasing popular to talk about this opportunity, there aren’t many resources dedicated to putting a plan into action to take it on. So Brooke Roberts and James Tobin sat down to talk about what advisory means, six specific cash flow drivers accountants can monitor to kick-start their services, and some examples of what this looks like in an actual business-accountant relationship.   If you have questions please contact us at support@myprofitsee.com or learn more at www.myprofitsee.com

Earlier this year, I attended both the Accounting Business Expo in Sydney, Australia and the Omie Summit in São Roque, Brazil. And what I found was that the global accounting industry is so connected, and the challenges that financial professionals are facing tend to be similar around the world. This episode digs into how you can find your path to your full potential by embracing changes in the accounting world, redefining what “CFO Level Services” are, and scrapping the assumption that you are inherently trusted by your clients.  This episode covers a lot of information and cites some sources. If you have questions, please contact us at support@myprofitsee.com and if you're interested in seeing my sources, you can read the article here: https://academy.myprofitsee.com/path-to-your-full-potential

As cloud-based accounting is adopted, we are subsequently seeing cloud-based applications growing in popularity. But, what are these changes doing to the roles traditionally held by accounting professionals? In this episode of Building Your Multi-Million Dollar Practice, CEO and Founder of ProfitSee, Peter Vessenes, speaks on actions your firm can take to go beyond automation and truly start providing CFO level services for your business owners. Learn more at www.myprofitsee.com

Growing services revenue is imperative for today’s accounting firms, but it is not an easy change to make. The core of advisory is the ability to have proactive conversations with your clients and to help them understand fiscal management. On this episode of Building Your Multi-Million Dollar Practice, we listen to ProfitSee’s Director of Australian Operations, James Tobin, discuss how to create more value when you can’t create more time. This session was originally presented at the Accounting Business Expo in Sydney. Learn more at www.myprofitsee.com  

Globally, we’re seeing a trend of many accounting firms making a push towards providing more value-added services to their clients, even during their traditional busy seasons. But as they make this push, the question arises of how to train their staff to move forward on the same path. In this episode of Building Your Multi-Million Dollar Practice we’re going to dig into the step-by-step process of training your staff. Learn more at www.myprofitsee.com

The global trend in accounting is to be focusing on the future. Accountants and bookkeepers have more tools than ever before to provide future driven insights and actionable outcomes for their clients. In this episode we will discuss how real-time data and automated reporting enables you to create efficiencies in your practice, have proactive conversations with your clients, and focus on the future. Learn more at www.myprofitsee.com

Welcome to another episode of “Building your Multi-Million Dollar Business.” James Tobin, the Director of ProfitSee Operations in Australia, joins us today to discuss “Who’s answering your phone?” After calling multiple accounting firms and seeing their general phone protocols, James shares some of the opportunities that were missed, which ultimately could have brought on new clients.

We had such an energized response to the last episode that was filled with coffee puns, so we wanted to bring you another episode that talks about how to make your practice brew-tiful. Let's dive into how to pick a beta client, the length of the trial period with this client, and how to introduce the price. We want you to have confidence in charging for your services.    To learn more, go to www.myprofitsee.com   

This special episode will be bringing you a new flavor on advisory, brought to you by Brooke from ProfitSee. We're going to be discussing how fiscal management and advisory services go hand in hand and how you can leverage this information to solve the money problem for your SME clients.    To learn more, go to www.myprofitsee.com 

On this episode of Building Your Multi-Million Dollar Practice we’re discussing how to charge for your services, how retainer based billing increases the value of your services to your clients, and why hourly billing should be a thing of the past. Learn more at www.myprofitsee.com

On this episode of BYMMDP we're going to tackle the question, "How do you get over the fear of the sale," when it comes to talking to your clients about the services you provide.  Accountants and bookkeepers are not usually in a traditional sales role, but what's unique about this situation is that you already have the most important aspect of the sale: the business owner's trust.  Learn more at www.myprofitsee.com