Mike Michalowicz and Ron Saharyan
A show dedicated to accountants and bookkeepers who are looking to grow their practice.
Show Summary Leslie Liondas, CPA, is with us to tell us about how she implemented Clockwork strategies in her business to improve efficiency--and how you can, too! Leslie knows the importance of having the right mindset in being able to get out of our own way, and today she busts for us the myth that working harder and longer is how to grow your business. She shares with us how to start delegating to your team, how to identify and focus on the ideal clients for your business and weed out the rest, and how--with proper preparation--taking a vacation away from your business can empower your entire team. If running your business makes you feel like an overworked corporate employee rather than a savvy entrepreneur, you want to listen to this episode! Website: https://liondascpa.com/ Facebook : https://www.facebook.com/leslie.liondas https://www.facebook.com/leslieliondascpa
31 min 32 sec
Show Summary Join us as we talk with Melanie Power about helping women achieve their financial goals. We discuss: The biggest obstacle to financial independence most women face and how to overcome it The importance of having a vision and values Fear of pricing and sales How to tackle imposter syndrome We also chat about the future of the accounting and bookkeeping, and how to position ourselves to leverage current trends in the industry. Listen now and let us know your thoughts on the comment box below! Website: http://www.melaniepower.com Facebook : https://www.facebook.com/themelpower Instagram: https://www.instagram.com/themelpower/
31 min 4 sec
Show Summary Exit and succession planning specialist and author of the upcoming book SELL IT Christine Nicholson joins us to share her expertise on how to position a business for future sale to ensure owners receive the most value for their hard work, leaving none on the table, when it's time to exit their business. Christine discusses the why, the when, and the how of preparing a business for sale, and the importance of having a realistic sense of the business's value, an understanding the exit strategies available, and a plan for what comes next. You don't want to miss this one! Email: email@example.com
30 min 1 sec
Show Summary Tom Schwab shares how things have changed in the podcast environment in the past few years and why podcast interview marketing has become the next gold rush. He discusses whether to be a podcast host or guest, the problem of obscurity and how to break through the noise, the importance of getting on the right podcasts rather than all the podcasts, and provides tips on how to be a great guest once you get there. If you're ready to up your podcasting game, this is the episode for you! Website: https://interviewvalet.com/gmap/ Twitter: @Interviewvalet @TMSchwab Facebook: https://www.facebook.com/ThomasSchwab
31 min 36 sec
Show Summary Show Summary "The customers or clients should always have the best experience." In this episode, Shawn Parikh shares how offshoring has increased during the Pandemic. He also points out some of the mistakes accounting firms make when initially trying to work with an offshore provider. To avoid the mistakes pointed out, work with a credible partner, and make sure they specialize in their particular domain. It's not just about saving, offshoring can bring multi-dimensional transformation to your firm. Listen to this podcast now to learn more! Website: www.entigrity.com
36 min 3 sec
Show Summary At the end of the day, we find that most accounting professionals do their work as expected, but what keeps clients coming back is the ease, customer service, and experience they receive. In this episode, Erika Segal talks about how digital has become king in both the personal and professional world. In the professional world, businesses have found that making the switch to digital has not only helped significantly improve their workflow but net more profit as a result. More work is getting done, meaning more revenue opportunities have come along with it. She also shares about other payment processors and the CPACharge's life support which is one of the features their customers appreciate most. Think of yourself as a consumer - do you feel excited about a brand when there is a robot on the other end of the line? Or when you send a message to a chat box and it's a robot vs a real person? Website: https://www.cpacharge.com/
36 min 49 sec
Show Summary "You have to set your goal." In this episode, Barb Stackhouse discusses her thoughts on launching her first book, Profit First for Dentists, and the reasons why dentists need a book on Profit First. Barb also shares how to control or make profitable decisions in the dental industry and talks about the pushbacks she had when introducing the Profit First cashflow system to the dentists. She leaves a piece of advice for accountants and bookkeepers on what they can do to help or support the dental industry better. Listen now and let us know your thoughts on the comment box below! Websites: https://www.moretolife.dental/ https://www.profitfirstdentist.com/
33 min 28 sec
Show Summary Ninety percent of the success of your presentation is from the preparation. In this episode, Scott and Maria talk about what the pandemic has done to the online presentation venue. They also share some tips on responding to viewers or listeners when a tech problem occurs during a presentation. When having online presentations, it is best to test out everything you need that you can control ahead of time to lessen the weight on your shoulders during the actual presentation. Scott and Maria leave us points on what to set and prepare before every presentation. They also give us ideas on how to balance between dual presenters. Learn more about this topic by listening to this podcast episode now! Websites: www.scottjallen.net Twitter: @sjatweets
35 min 11 sec
Show Summary In this episode, Gigi Bier talks about why people struggle with their values and desires. She also discusses some mistakes she has seen people working with creatives make and how she helped the creatives step out of the mindset of a "starving artist." Profit First had a significant impact on Gigi. She expresses in this episode her Profit First thoughts and experiences when she became a member and how she shares with her customers about it. Leave your comments below and share your thoughts about this episode! Websites: www.mycatsandme.com Instagram: https://www.instagram.com/hello_mycatsandme/
Show Summary This October, UNSTOPPABLE is the theme for Scaling New Heights 2021 to celebrate how unstoppable the professionals are and how to make them even more unstoppable. To be unstoppable, you must innovate and change. It's about the determination, will, and ability to adapt to the ever-changing environment over the past decade. Joe Woodard discusses in this episode that if you want to stay in business, offer the same but different. PLUS IT UP! Joe challenges bookkeepers and tax preparers to create a plus level of their services which resets the pricing anchor. He also shares advice on what we can do to start positioning our businesses to be truly saleable. Listen to this podcast now and find out more about this exciting topic from Joe Woodard! It's also not too late to register to attend Scaling New Heights 2021! Click here to sign up: www.scalingnewheights.com Websites: www.woodard.comonal LinkedIn: www.linkedin.com/in/quickbooksadvisor Twitter: @joewoodard
29 min 31 sec
Show Summary "Strategy is more important than compliance." In today's episode, Geraldine Carter discusses the strategies to approach different automation or technology tools business owners use to run their businesses. She also shares how automation will change the face of the "job" from accounting-facing to client-facing. The importance of emotional intelligence and mindset in being an advertiser is emphasized in this podcast episode. Geraldine also talks about pricing services. Don't forget to leave your comments below, and listen to today's episode! Websites: https://www.shethinksbigcoaching.com/ https://www.smartstrategyforcpas.com/ LinkedIn: https://www.linkedin.com/in/geraldine-carter/
35 min 5 sec
Show Summary Mindset is the most critical facet of success and failure. People tend to talk more about business tools but not personal development tools or personal power and mindset. Mindset makes a huge difference in success and failure. In this episode, Adi Maor Siso discusses the difference between a fixed mindset and a growth mindset. She also stresses the importance of a visionary and an integrator in building a solid team. Adi shares how accounting, bookkeeping, and coaching firm owners can leverage the knowledge that she's sharing to help them work with their customers. The following questions are also answered in this podcast episode: What do we do when we have a lifetime of experience pointing in one direction, but we want to start taking a new one? Do we want to seek diversity when we surround ourselves with people, or do we seek a strong constant vantage point in a similar group? How do we surround ourselves with the right people? What are the tell-tale signs of having a fixed or growth mindset? Listen now and let us know your thoughts in the comment section below! Facebook: https://www.facebook.com/adimaorsiso
36 min 11 sec
Show Summary Being involved in the accounting and bookkeeping side of your business is significant. In this episode, Dr. Julie Woods shares her discoveries in her business when she first implemented Profit First. She also mentions her struggles as a business owner in having turn-overs when her bookkeeper resigned. Dr. Julie also learned a lot by being a Profit First Professional that she didn't know when she was self-implementing Profit First in her business before. She also shares how she helps her clients by implementing Profit First in their businesses. Listen to this episode now! We value your thoughts, so don't forget to leave a comment below! Website: http://www.topekaperio.com/
35 min 3 sec
Show Summary Work your passion. Nicole Bendig-Lamb followed her passion for creating cakes and educating people through being a cake business coach. In this episode, she talks about handling pricing and time expectations for customers who have no basis for realism and controlling the costs in the cake industry too! As a certified Profit First Professional, Nicole shares how she introduced Profit First to the cake industry and how becoming a PFP helps her businesses. And, she shares her insights on how the accounting and bookkeeping industry better supports the baking industry. Listen to this episode now, and don't forget to let us know your thoughts in the comment section below! Website: www.cakebusinessschool.com https://thecakebizbroadcast.libsyn.com/ Facebook: https://www.facebook.com/cakebusinessschool
35 min 20 sec
Show Summary How do you market your business? In this episode, Jonathan Tuttle shares how and where someone gets started in social media marketing. Listen to his tips on how to navigate and efficiently manage social media platforms for your businesses! Facebook: https://www.facebook.com/Jonathan.Tuttle.Official Instagram: https://www.instagram.com/jonathantuttle/ LinkedIn: https://www.linkedin.com/in/jonathantuttle1/
39 min 10 sec
Show Summary Did you know that it's possible to use your weakness as your strength in serving your purpose? In this episode, Matt Plumer shares his journey talking about his life experiences as he overcomes his addictions. Matt also reveals why he decided to change, how he started changing, and how he landed where he is now. Listen to this episode and be inspired by Matt's story! Website: https://www.5financialmistakes.com/ Facebook: https://www.facebook.com/plumermatt/
37 min 20 sec
Show Summary In this episode, Tatiana answers the question, why do people underprice themselves? She also shares the strategies on determining price and providing menu pricing to clients. There’s so much to learn! Listen to this podcast now! Website: www.tatianatsoir.com Facebook: FaceBook.com/TatianaTsoir Email Address: firstname.lastname@example.org
35 min 36 sec
Show Summary Do you know how to shield your business? Listen to this podcast now! In this episode, Scott Reib discusses the meaning of "shatterproofing" your business to deal with things on your own time and not panic. He also shares the 5 Strategies of business that shield us from harm for structure, growth, and protection. Website: https://reiblaw.com/
31 min 36 sec
With deep sadness, we bring you this episode with Greg Winteregg, who passed away on July 13th, 2021, shortly after we recorded this GMAP podcast. He leaves behind an incredible legacy that shaped the lives of many who were blessed to have crossed his path and committed much of his life to helping businessmen and women grow their businesses into flourishing and prospering endeavors. Show Summary Greg has been getting a lot of traction with their clients helping them with the concept of "hiring to replace yourself." He was semi-retired at age 38 from his dental practice and made more money working part-time than full-time. And he replaced himself throughout his various business ventures. He thinks that it is a significant point to make. He now says that "I specialize in replacing myself." In this episode, Greg shares how he could do that multiple times in different industries by doing the following stated below. I must have the total intention of replacing myself and not just be paying lip service. I must know the process inside and out, then create a system that the average employee can use. Create gradient steps of training going from the easiest things to do to the most difficult. Graduate them to the following levels of competence with a raise in pay and responsibility. Find a candidate interested in the functions of that position, train them on the basics, and supervise them into competence. Be willing for them to do it incorrectly while learning how to do it correctly. Website: www.adventuretoprofit.com
40 min 23 sec
Show Summary In this episode, Andy Cagnetta talks about how to prepare a business for sale. Keeping decent books and records and not reducing mysterious inventory levels to save taxes or hiding cash sales will make a business easy to sell for the value that the seller is looking to get. He also shares the best way to get more money for your business by creating competition for the deal. We want as many good buyers as we can get. If your business is exposed to the marketplace with the right buyers, they will pay the price. How has the COVID-19 pandemic affected the market space? Is this the right time to sell your business? How should buyers go about acquiring a company? Andy answers all these questions in this episode...listen in now! Website: www.tworld.com
37 min 33 sec
Show Summary Perry Jeffries shares in this episode how he has been able to grow his book of business leveraging the Profit First methodology (Financial Planning using Profit First). He believes that the Profit First Methodology is an absolute necessity for minority businesses. Perry is not an accounting professional. He is an Investment Advisor (Series 66, Life Insurance and Annuities, and CRPC and CPFA Designation). He shares why a Financial Advisor became a Profit First Professional. Website: www.perryjeffries.com
36 min 10 sec
Show Summary "Always look forward. The reason why a windshield in a car is as big as it is and the rearview mirror is so small is because of the imminent danger in front of us. We don't know what's behind us, but we have to focus on what's in front of us." In this episode, Ben Golden defines Tax Resolution and why it is needed in some situations. He also answers the following questions: What do we do when the IRS sends threatening letters? Can the IRS take our passport if we owe them money? What do we do if we owe the IRS but can't afford to pay them? Can the IRS seize assets (cars, homes, retirement accounts)? Website: https://irstroublesolvers.com/ https://goldentaxrelief.com/
34 min 17 sec
Show Summary In this episode, Ciara Stockeland shares her entrepreneurial journey - from selling rocks in the front yard to selling a business. To compete, you have to have something that sets you apart. Ciara's piece of advice is to think creatively. Sell what you're good at or what your skills are and it will generate additional revenue. Sell a solution to a problem. She also talks about her top Profit First tip: Set up an inventory account. Inventory is the lifeblood of product-based businesses. Website: www.theboutiqueworkshop.com Instagram: @cstockeland Corporate Partner: SweetProcess - Document processes, procedures, and tasks in one place so you can stay focused on growing your business. - visit https://www.sweetprocess.com/.
34 min 33 sec
Show Summary In this episode, Tara Newman shares what EMS (Energy, Mindset, and Strategy) Framework means and how it works. The difference between how men and women handle talking about money and profit is also discussed in this episode, as well as the reasons why women need to talk about money. Intuition is important in running a business. Tara talks about what role it plays and its importance. "Motivation does not come before you take action. It comes after you've taken the action. Stop waiting for motivation and do a little bit of action and set yourself up for success." Website: theboldleadershiprevolution.com Instagram: @thetaranewman Corporate Partner: SweetProcess - Document processes, procedures, and tasks in one place so you can stay focused on growing your business. - visit https://www.sweetprocess.com/.
41 min 40 sec
Show Summary In this episode, Dr. Mick Kling shares how he was introduced to the Profit First methodology and how it transformed his optometry practice. He also shares how Profit First has changed the lives and practices of countless numbers of his colleagues (especially through the COVID pandemic) and how being a Profit First Professional has been one of the most personally rewarding experiences of his career. Dr. Mick has been traveling the country preaching Profit First to other eye doctors through live presentations, live workshops, and conferences for the last three years. He has held workshops in his own office and has presented both live formats and recorded webinars, and offers online courses. Website: www.impactod.com Corporate Partner: SweetProcess - Document processes, procedures, and tasks in one place so you can stay focused on growing your business. - visit https://www.sweetprocess.com/.
43 min 7 sec
Show Summary In this episode, Clint Pulver talks about why management is the main reason why employees leave and why mentorship is the reason why employees love their jobs. He also shares the 4 different types of managers he discovered in his research and explains what a mentor manager is. Employees always want their efforts to be appreciated. With this being said, Clint discusses five ways to show appreciation and strategies to show recognition to employees. “The secret to happy workplaces isn't spending more money. It's about creating the conditions that allow employees to do their best work.” ― Ron Friedman Website: clintpulver.com
39 min 23 sec
In this episode, Kimberly Ransom shares about her area of expertise: sports membership clubs. She also talks about how COVID affected the industry and how accountants can better serve the players in this industry. Also, listen to Kim's Profit First testimony and why she thinks it is important to get involved as a Profit First Professional. Website: www.kimberlyransom.com Facebook: https://www.facebook.com/groups/gymprofit/ Podcast: https://www.audible.com/pd/The-Gym-Fix-Podcast/B08K57K3HB
34 min 52 sec
In this episode, Barbara Schreihans talks about how she markets her business in social media - solely focusing on one platform - and stays consistent. She also shares some of the reasons why people are attracted to larger accounting firms. Barbara ends this episode with the dos and don'ts of starting a new business and/or moving your business online, including creating a clear communication plan. Over-communicate with clients and let them know that you're thinking about them all the time. Website: https://www.yourtaxcoach.biz/ Facebook: https://www.facebook.com/yourtaxcoach Instagram: https://www.instagram.com/yourtaxcoach/ Twitter: https://twitter.com/your_tax_coach
32 min 12 sec
Having drive, passion, and perseverance pays off. In this episode, Susanne Mariga, a Certified Profit First Professional (Mastery Level), shares her inspiration for writing her new book "Profit First For Minority Business Enterprises," which will be launched on May 25th, 2021. Website: https://www.susannemariga.com/ https://theprofittalk.libsyn.com/2020 Facebook: khttps://www.facebook.com/groups/ProfitFirstMasterClass
34 min 13 sec
In this episode, David Richter shares his burning desire to provide a lot of value to people as they get started on becoming an authority in their space. He also talks about why it is important to know what you want for your business and how to bring as much value as you possibly could to the community you care about. The more you set your vision for the business, the more you can help your community. Website: simplecfosolutions.com profitfirstrei.com Facebook: https://www.facebook.com/groups/ProfitFirstREI
34 min 22 sec
In this episode, author, coach, and entrepreneur Bill Flynn shares the reasons why businesses go out of business. He also talks about the principles of company growth - team, systems, and cash. Website: www.catalystgrowthadvisors.com
35 min 59 sec
Most of the time, people buy based on emotion and not on logic. You have to understand the emotions that make people buy. The companies that know their emotional formulas are doing way better than those who are guessing on it. In this episode, Brian Gregory shares what the personality of business means and why it is important. He also discusses the ADMANITY® Protocol and how it can help any accounting business by showing them how their brand will psychologically need to be presented so that others desire to engage them. Website: Admanity.com Admanity.com/GMAP
30 min 51 sec
In this episode, Tom Hine shares some typical deal structures or multiples that accounting firms are paying to acquire other accounting firms. He also shares what percentage of accounting firms are doing investment planning and wealth management.
40 min 6 sec
In this episode, Catherine Morgan shares how understanding our relationship with money is the key to unlocking income ceilings that prevent you from growing profits in your business. She also discusses why financial education is not the answer to financial poverty, how our clients really make decisions with their money, and why financial coaching could be the future of your value add proposition.
37 min 17 sec
In this episode, David Lorenzo talks about why networking is the “fool’s gold” of marketing, how to get new clients with no marketing budget, and how marketing a service-based business is different from marketing a product-based business. David also shares the one question people need to ask to close a deal in 60 seconds.
40 min 8 sec
In this episode, Profit First Professional Coach Rocky Lalvani discusses how to use podcasts as marketing system. Get prospects to listen to you, start to love you, and want to work with you even before you ever meet them! Rocky also shares how he has used the principles of Profit First to build wealth over the past 30 years.
38 min 59 sec
In this episode, guest Amira Alvarez shares how to forge authentic, mutually-beneficial connections which can help you achieve your personal and professional goals using The Impression of Increase. She also talks about some of the key things you need to make a quantum leap in your career, revenue, income, or impact.
36 min 22 sec
In this episode, Andrew Jordon talks about the regular cadence of accountants' conversations with clients. He also discusses valuing advisors' conversations with clients and how those firms which have been forced to go remote have managed, as well as the future of small accounting firms in a digital world.
33 min 34 sec
In this episode, Rob Brown shares how to build your practice when time is working against you not only during this pandemic but also with the rise of Artificial Intelligence. During the pandemic, professional firms all over the world have lost revenues, clients, staff and opportunities. Pipelines of new business have been lost. New client conversations have been sidelined or cancelled. Growth and recovery will only happen if firms recognize the need to invest in their people, specifically the skills of those people to create new opportunities in a Covid world. Many of the sales and business development methods that won work a few months ago are no longer in play. Networking, attending events, shaking hands, swapping business cards and meeting for lunch/coffee don't work anymore. Many professionals are trying to force their old in-person methods to work in a virtual world. A whole new skill set centered around remote contact, digital presence, social media engagement and video meetings is required to source and convert today's prospects into tomorrow's clients.
36 min 47 sec
Show Summary Moshe Amsel discusses in this episode how the market shifts: Is the shift incremental and slow - even though it's constant - and therefore unnoticeable, or do we see it as big burning blips where we know when it's time to change? He also shares in this episode what he did at the start of the pandemic to help the industry he serves and how he recognized the underlying challenges in the industry before the pandemic and now.
38 min 44 sec
In this episode, Megan Hale shares that a successful affiliate course launch is led by delivering high value, showing up as if your audience is already a paying client, and generating buzz or celebrating a huge milestone. She also points out what she would have done differently to have even bigger results. Listen to this podcast to learn more on how to build an attractive affiliate program that gets people excited and involved!
37 min 32 sec
Mark Coudray is a Mastery Profit First Professional and a well-known business coach recognized for some pretty remarkable profitability results for his clients. In this episode, Mark shares his perspective on why so many small businesses struggle with profitability. He also explains the difference between Financial and Managerial Accounting and the use of Activity Based Accounting. Mark Coudray elaborates on the main topic in this episode, “Gross Margin Timing" and its role in profitability.
37 min 44 sec
In this episode with Michael Roderick, we learn how to get people talking about you and your ideas - in a good and positive way! - when you're not in the room through these five points: The three main factors to creating a referable brand. (Accessibility, Influence, and Memory) Why true influence is not about persuasion and what you want to focus on instead to be influential. Making your audience S.U.R.E. about sharing your ideas ( shortcuts, utility, reputation, and expedience). How to get people to remember you more by focusing on L.E.S.S. (Language, Emotion, Simplicity, and Structure) The 3 Referability Partners you need to grow your business ( Translators, Angels, and Producers) and how they feed each other.
33 min 45 sec
Pineapple Consulting Firm, owned by Jack Tompkins, helps analyze and visualize data for small business owners that don't have the resources to easily dive into their numbers. Jack shares in this episode the pros and cons of visual dashboards as well as the following points: visualizing profit and loss statements in charts, graphs, etc. instead of in a QuickBooks print out automating data flow to make custom client reports refresh in your sleep using Tableau as a complimentary tool to Excel
33 min 26 sec
Many accountants are working silly hours but for insufficient reward, believing it’s the only way, straining relationships at home, their health & their lifestyle and STILL not serving their clients in the way they need to be served. DON’T be one of them – discover a much better and simpler way. Shane will share 3 steps of a proven roadmap that has transformed the lives and businesses of thousands of accountants from all over the UK. He’ll share actions you can put in place immediately and see immediate results. Learn how to build a practice that works for you and not the other way around by listening to this Podcast based on Shane’s 22 years of working with best practice accountants. Shane Lukas is Author of ‘Putting Excellence Into Practice’ and ‘What’s Next For Accountants’ - and - Managing Director of AVN Inspiring Accountants - where he and his team have helped 3000+ UK based accountants massively accelerate their journey to success. Are YOU next? Websites: www.avn.co.uk/peip LinkedIn: https://www.linkedin.com/in/slukas/
33 min 31 sec
Helping you grow your business audience by starting with great business development habits is what Mo Bunnell shares in this episode. Creating a system on business development and focusing on what works to get results will be a great help to the audience or client. Business development is a learnable skill and can be done, even when you’re busy. All we need is a system.
37 min 5 sec
Show Summary Craig Minter has a strong awareness that cash flow is the number one issue facing most small businesses. And therefore shows the clients he works with how simple cash flow management can be, how they can feel in control of their cash flow at all times, and the freedom they can create with the increasing profits that result.
36 min 14 sec
Show Summary Tax liability payments are a major source of cash outflow in a profitable business...unless you know how to mitigate tax liabilities without sacrificing profits. In this episode, Joshua Massoud shares how you can improve your clients' cash flow by helping them leverage tax credits and incentives.
32 min 4 sec
Show Summary Helping your clients run their businesses better doesn't have to be hard. In fact, a simplified approach is usually the best. In this episode, Darren Cioffi shares the insights that led him to create My Prosperity Tree, the approach he takes with his clients to provide unparalleled accounting and business advisory services. Corporate Partners Nextiva - VOIP phone providers for small businesses and fully integrated CRM
35 min 14 sec
Show Summary You know you need to market and sell in order to stay in business, but how can you do that without being salesy or manipulative? With mar-care-ting! Today's guest, Ariel Averbuch, shares the Mar-care-ting method he developed and how he has used it to help thousands of business owners discover a different way to market their businesses easily and effectively. Corporate Partners Nextiva - VOIP phone providers for small businesses and fully integrated CRM
35 min 50 sec