“i’d rather have questions i can’t answer than answers i can’t question.”
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accounting arc
with donny shimamoto.
center for accounting transformation
ron baker discusses his revolutionary journey in accounting, his challenge to the status quo, and how accountants can lead transformation.
in the latest episode of accounting arc, baker, founder of the verasage institute, shares his insights into the accounting profession’s evolution. a pioneer in value pricing, baker’s career is defined by a relentless pursuit of better client relationships and innovative business models.
more accounting arc: angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know | leadership for the future: stakeholders, sustainability, and strategic vision |
“i knew i wanted to be a cpa in high school,” baker says. this passion led him to a big eight firm, but it wasn’t long before he began questioning traditional practices like the billable hour. “the billable hour was a lousy customer experience,” he explains.
instead, baker sought inspiration outside the profession, learning from industries like medicine. his exploration of subscription models mirrors concierge healthcare, which emphasizes trust and personalized care.
for baker, questioning orthodoxies is essential. “conventional wisdom always scares me,” he remarks, citing examples from medicine where groundbreaking ideas were initially dismissed.
baker also offers advice for aspiring accountants, urging them to embrace lifelong learning. “read widely—at least 50 books a year,” he suggests. leaders are readers.” his belief in the power of ideas underscores his vision for a more innovative and client-centered profession.
as accountants grapple with rapid changes, baker’s message is clear: embrace transformation, challenge assumptions, and lead purposefully.
10 key takeaways
- challenge traditional practices, like the billable hour, to improve client experiences.
- look beyond your profession for innovative ideas and inspiration.
- subscription models, inspired by concierge healthcare, are a game-changer.
- lifelong learning is key—reading widely fosters innovation.
- economists can offer valuable insights into improving the audit industry.
- professional groupthink can stifle progress. question conventional wisdom.
- specialization can drive profitability, but balance is essential.
- accountants play a critical role in clients’ financial and emotional well-being.
- younger accountants should consider starting in dynamic regional firms.
- always be open to diverse perspectives and new ideas.