the entrepreneurial accountant

why vc is a bigger threat than ai

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how big money could change everything.

by seth fineberg
at large

here is some truth, at least that i believe, accountants need to know: accountants in practice today, particularly firm owners, should be more afraid of venture capital entering the profession than ai or any like form of automation. a bold statement, i know but stay with me and see if you agree.

more seth fineberg: what does taking control of your firm mean? | accountants need each other more than ever | marchternity: just say ‘no’ |

some thoughts on in-person events | so you think you know accountants? | what bogs down accountants

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at the core of this viewpoint is how i believe the two will, respectively, impact the profession at large. the major difference, to me, is that one has the potential to help the profession move forward while the other could change its dynamic for the worse.

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hitendra patil: no new tech. no new growth.

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technology is disrupting the profession, but for the better.

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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

the silver lining of the pandemic is that it forced accountants to move to the cloud and to develop distributed labor models, changes that are here to stay, hitendra patil, author of client accounting services: the definitive success guide, tells cpa trendines in the latest episode of the disruptors.

more:  mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

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we can’t fight the rapid technological changes – we can only leverage them to provide better service and insights to our clients, patil says.

pro members always get all nine top takeaways, patil’s bona fides, and the full transcript.
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how to get into your own cpa practice

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bonus: 14 tips on getting your first clients.

by ed mendlowitz
101 questions and answers: managing an accounting practice, the complete 2-volume set

q: i am working for a cpa firm, but would like to get into my own practice. can you give me some suggestions?

more: 15 tips for novice managers | why no one listens to you | how to stop yourself | how to handle referrals with attorneys | why checklists? | thirteen things to know before selling your practice
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a: essentially, you have three options (four if you count my pet project, but i won’t belabor it).
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what gig workers want

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and what they need opens new opportunities for accountants and accounting tech.

by 卡塔尔世界杯常规比赛时间

one of the most radical and ramifying shifts in employment economics of the past several decades is the advent of gig workers—the millions of americans working out of their garages, attics, closets and breakfast nooks.

and all of them have unique accounting needs.

accounting firms need them. and venture-backed software startups are chasing them. read more →

turn your business model upside down and reap the rewards

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illustration of man pushing "services" buttonyour secret weapon to exponential profits.

by matt solomon

learning to price, sell, and deliver through a simple, proven process streamlines the way you communicate your value and makes it easy for clients to say yes. it’s your secret weapon.

more: shift 2: step into the role of a business advisor | shift 1: stop depending on compliance work | take the nine-point practice checkup | three ways to leverage today’s uncertainties for renewed growth
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with practice, your ability to price, sell and deliver will be as routine as a 1040

but it’s worth a whole lot more: between $36,000 and $180,000 per year, per client.
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nancy fox: winning the mind game of success

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how to overcome the mind-blocks holding you back from total success.

^ click to play video

with steven sacks
the new fundamentals: thriving in disruption

professionals need to use a blend of psychology and strategy to guide them with both mental fitness and tactics to produce career breakthroughs, executive coach nancy fox tells steven sacks.

more steven sacks: effective networking is an art | business development activities shouldn’t be a chore | cpa’s best role: leveraging knowledge, not just process | avoid last-minute deal making | five common negotiating mistakes | the myths of performance management | business is about relationships | reaching for authenticity in client service |

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in business, the mind is 95% of the game, according to fox, so it’s essential to recognize the causes of mindset blocks that are encountered, such as competition and business development, and what their impact can be.


> download and subscribe to the podcast on itunes here

key takeaways:

  • leaders may not understand the nuances or fundamentals of mentoring and cultivating talent. as such, they find the biggest impediments to be themselves.
  • the conscious mind is where our thoughts are directed in such areas as logic, strategy, memory, learning, data analysis. however, 95% of our thoughts are directed by the subconscious mind, and only 5% by our conscious minds.
  • the subconscious mind is where the inner game of work, career, and life is really won — or lost.
  • there are some strategies you can use to train your mind to prepare yourself to experience an outcome and imagine ways to achieve that outcome.
  • in addition to training your mind to block negative thoughts and experience only positive thoughts, there are physical techniques that can be used.

nancy fox is the founder and president of the business fox, a business consulting and training company specializing in guiding law, accounting, and service business firms grow through smarter networking and business development and niche marketing strategies.

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judy trepeck on how to think beyond accounting, with steven sacks

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clients need so much more than basic accounting & write-up.

^ click to play the video

with steven sacks
the new fundamentals

armed with the latest technologies, accountants can do more than ever – faster, better, and cheaper. but too many accountants are missing the biggest opportunity that technology creates, according to judy trepeck, long a leading figure in the profession.

more from steven sacks: bill reeb: new rules for the covid era | is your message open to interpretation? |  effective communications in the age of covid | why proper communication is critical | how to create effective internal communications | how to select your firm’s board | trust is a key organizational ingredient | real influence vs. immediate gratification | fake it ‘til you make it: an ultimate goal? | 4 ways to boost job satisfaction | have you gauged your staff’s enthusiasm? | why knowledge maintenance is key
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in her conversation with steven sacks, trepeck, currently senior vice president for customized training at the michigan state cpa society,  outlines how cpas can go beyond basic accounting to provide more value-added services. it requires experience, talent, ambition, and, maybe most of all, intuition.


^ click to play the podcast

trepeck provides a framework for any accountant to add advisory services to their menu of offerings.

some of the key takeaways and the full transcript:

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3,771 accountants help uncover cas success secrets

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small firms find a new revenue stream.

by hitendra patil

fresh insights are emerging from 卡塔尔世界杯常规比赛时间’ new survey, “client accounting services: trends, issues & opportunities.”

join the 8-minute survey. get the answers. you will receive, for free, the topline executive summary of the survey findings, just for participating in this survey.

it is possibly one of the largest cas surveys ever, with 3,771 (and counting) accountants responding to the survey.

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how accountants can ride the artificial intelligence wave

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let machines crunch the data. you provide the insight.

by hitendra r. patil and eli fathi

you are already riding the ai wave to some extent because, most likely, your car has some ai built into it. you ride it to work. how about riding artificial intelligence at and in your work?

more on entrepreneurial strategy: automation makes it easier for accountants to offer cybersecurity | the why, what and how of cybersecurity for accountants  | the client of the future | urgently required: a new definition of accounting | is blockchain a cloud killer? | how to beat automation in accounting | 3 reasons small firms stay small | the new needs of people at accounting firms | 4 pillars of future firm foundation | do you want a practice … or a business? | 3 apps to automate business networking
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in today’s economic environment, it’s not enough to offer services in the same way that it’s always been done and hope that business will thrive. many accounting firms are embracing new technology, such as robotic process automation, cloud-based analytics and dashboards to offer a competitive edge but the industry has come to a crossroads. while these computer-assisted and rules-based tools are considered the norm, ai and machine learning solutions are driving the leading edge.
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automation makes it easier for accountants to offer cybersecurity

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technology security with internet digital signature as arttechnology can help simplify the complexity of technology itself. 

by hitendra r. patil and jeffrey lush

businesses the world over rely on outsourced services, like accounting, to keep themselves ahead in the game, be profitable, efficient and to limit risk.

more on entrepreneurial strategy: the why, what and how of cybersecurity for accountants  | blockchain: what you need to know now | the rise of the robot accountant: opportunity or threat? | certified blockchain accountant: from cpa to cba
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in “the why, what and how of cybersecurity for accountants,” we covered the fundamentals to enable accountants get a quick understanding of cybersecurity to help explore the new opportunities that are emerging in the cybersecurity services segment. in this post, we’ll explain why it may not be really necessary for accounting firms to have specialist technology resources to foray into cybersecurity opportunities.

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blockchain: what you need to know now

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20 key concepts for now. 5 key questions for the future.

by hitendra patil
accountaneur

social media. big data. automation. artificial intelligence. machine learning. there is already a lot of technological impact on the accounting profession. now comes blockchain.

more: the what, why and how of artificial intelligence for accountants | the client of the future | the rise of the robot accountant: opportunity or threat? | six never-before opportunities for the accounting profession | urgently required: a new definition of accounting | certified blockchain accountant: from cpa to cba
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as a cpa, should you worry about blockchain? let’s examine.

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six never-before opportunities for the accounting profession

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the number 6 made from dollar stacksperceptions will have to change.

by hitendra patil
accountaneur: the entrepreneurial accountant

do you remember cell phone devices before the iphone was launched?

more on entrepreneurial strategy: urgently required: a new definition of accounting | certified blockchain accountant: from cpa to cba | the 7 experiences millennials want from your firm | 22 ways blockchain will impact the accounting profession | podcast: how to become a true ‘accountaneur’ | how job titles can rebrand your firm | forget cpe, you need an fpe | ‘uberizing’ means more than technology
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it was not just technological advancements that gave birth to the iphone. it was actually more about the ability to use human imagination to figure out how new technology could be used to invent altogether new benefits.
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urgently required: a new definition of accounting

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the universally accepted definitions just don’t cut it anymore.

by hitendra patil
accountaneur: the entrepreneurial accountant

“users can and will be able to use the software without an accounting education.”

more on entrepreneurial strategy: certified blockchain accountant: from cpa to cba | who wants to be a comptometrist? | is blockchain an extinction event for accountants? | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth
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this prediction caught my attention when i read a recent report.
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