the entrepreneurial accountant

you cannot prove your value

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you can, however, help clients and prospects discover it.

by hitendra patil
accountaneur: the entrepreneurial accountant

you cannot prove your value to your clients (and prospects).

you can not.

more on entrepreneurial strategy: certified blockchain accountant: from cpa to cba | who wants to be a comptometrist? | is blockchain an extinction event for accountants? | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth | seven lessons for accountants from self-driving cars
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they need to discover it themselves.

because value is perceived in their heads.
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certified blockchain accountant: from cpa to cba

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accountants have a new opportunity at the intersection of the physical and digital worlds.

by hitendra patil
accountaneur: the entrepreneurial accountant

can you eat a digital pizza? 

you can order and pay digitally, but you can eat only a physical pizza.

more on entrepreneurial strategy: blockchain: questions are the answer | is blockchain a cloud killer? | 22 ways blockchain will impact the accounting profession | blockchain accounting is an oncoming train | podcast: how to become a true ‘accountaneur’ | forget cpe, you need an fpe
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blockchain, with its immutable trust technology, is one of the greatest innovations of recent times capable of creating an unfathomable disruption across several industries. but its technological fabric itself has created a hurdle that it, by itself, may not be able to jump over easily.
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blockchain: questions are the answer

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blockchain will find answers. but you need to know the right questions.

by hitendra patil
accountaneur: the entrepreneurial accountant

if blockchain were human, here’s what it would say to you: “dear accountant, your intelligence is far more powerful than my algorithmic intelligence. i can do the math, audit the authenticity of transactions incredibly faster than you can. but that’s not the point. the point is: i can provide you answers much faster than was ever possible. but only if you ask me great questions!”

more on entrepreneurial strategy:  the 7 experiences millennials want from your firm | is blockchain an extinction event for accountants? | 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

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we are just about starting to see what pablo picasso saw way back in 1964 about “the enormous new mechanical brains” and “calculating machines.” they are “useless,” he said. “they can only give you answers.”

if the mechanical brains “can only give you answers,” it is imperative that someone asks those brains the right questions. that someone had better be you.

the entrepreneur’s questions read more →

the 7 experiences millennials want from your firm

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young businesswoman4 ways to motivate millennial staff … plus how to impress millennial clients.

by hitendra patil
accountaneur: the entrepreneurial accountant

“i never believed that millennials is an issue my firm needs to address.”

more on entrepreneurial strategy: is blockchain an extinction event for accountants? | 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
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when the owner of a fast-growing firm that is 100 percent on the cloud expressed this to me, i was surprised. no, astonished.
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is blockchain an extinction event for accountants?

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blockchain illustration using train carsthe make or break question.

by hitendra patil
accountaneur: the entrepreneurial accountant

till today, “work” in the accounting profession involved creating and re-creating the accounting information and then making sense out of it.

more on entrepreneurial strategy: is blockchain a cloud killer? | 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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e.g., you take an invoice in a paper form – printed from the data already existing in someone else’s accounting software (private ledger) – and then you re-create the same data by converting (manual data-entry, ocr, etc.) that paper info into data again.
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is blockchain a cloud killer?

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computer monitors morph into chain linkswelcome to an accounting model that’s predictive and always on.

by hitendra patil
accountaneur: the entrepreneurial accountant

let’s talk about the technology behind blockchain.

more on entrepreneurial strategy: 22 ways blockchain will impact the accounting profession | blockchain accounting is an oncoming train | how to fly the automation dragon to your dream practice | your clients hold a secret key to your practice growth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you have accessed information from the internet for quite a few years. now you have started accessing information on the cloud.
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22 ways blockchain will change the accounting profession forever

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illustration of network with city backgroundwill you be ready?

by hitendra patil
accountaneur: the entrepreneurial accountant

stock exchanges and banking systems have worked on similar fundamentals in handling and creating what are known as “non-repudiable” transaction records: straight-through processing (stp), electronically connected networks of intermediaries in their “ecosystem,” etc.  but unlike bitcoin, the stock exchange and banking systems are highly regulated and centrally owned.

more: blockchain accounting is an oncoming train | 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
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more recently, bitcoin technology has created a similar “distributed shared ledger” ecosystem.
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that oncoming train is blockchain accounting

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old steam train pulling into a tunnel belching steam and smokebut you can ride it to the new destiny of your practice.

by hitendra patil

warning: this is not fiction. this is not sci-fi.

more on entrepreneurial strategy:  is blockchain a cloud killer?  |  is blockchain an extinction event for accountants?  |  blockchain: questions are the answer | 22 ways blockchain will impact the accounting profession  |  how to beat automation in accounting | 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 | new survey results: ‘decisiveness’ rated top trait for success in accounting business | the 5 most common marketing blunders accountants make | how the “1099 economy” will transform accounting | four signs the uberization of accounting has already begun
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when the best brains in the payments systems and regulatory organizations across the world sit and take serious note of the possible impact of blockchain on the entire financial sector, the accounting and tax profession cannot afford to ignore blockchain.
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how job titles can rebrand your firm

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hitendra patil: "changing job titles to something more relevantly expressive can help rebrand your firm and even differentiate it competitively."new titles can attract more clients, talent and social visibility.

by hitendra patil
accountaneur

i read with interest ed mendlowitz’s recent post “what’s in a title?”

i wondered:

  1. why are the job titles in accounting firms what they are?
  2. how did they come into existence?
  3. what was the purpose of designing the job titles currently in vogue across the accounting profession?

more on entrepreneurial strategy: your clients hold a secret key to your practice growth | 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 | re-learning the lingo of the accounting business
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most likely, it is industry practice that creates the sameness in job titles. ironically, management gurus tell us to differentiate, yet we resort to sameness!
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new staffing strategies for the next-generation accounting firm

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attract and retain talent by understanding this paradigm shift.

by hitendra patil
accountaneur 

topmost thought leader ronald j. baker said, “the world bank reports that 80 percent of the developed world’s wealth resides in human capital, illustrating that we’ve been in a knowledge economy since the 1950s. yet most accounting firms are utilizing a business model developed during the industrial era, with a relentless focus on efficiency and a ‘we sell time’ mentality.”

more on entrepreneurial strategy: forget cpe, you need an fpe | seven lessons for accountants from self-driving cars | you don’t think technology helps get new clients? | tax season management: multi-tasking is a myth | 8 seconds into the future: meet generation z | 5 reasons gen y will make or break your firm | get more done, make more money: stop doing these 17 things
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in his succinct and soul-searching praise for “accountaneur: the entrepreneurial accountant,” baker urged, “from changing your business model to focusing on developing your firm’s human capital, and more – will keep your firm relevant as we encounter an increasingly turbulent and changing marketplace.”
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4 pillars of future firm foundation

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illustration of gears turning in braincpa firms can learn from google.

by hitendra patil

in what cpa firms could learn from google’s alphabet, we identified 13 lessons cpa firms can learn in strategy and innovation from google’s founders.

ever since google created alphabet, researchers have been analyzing the possibilities. in a recent mit technology review, author joel gertner discussed what will alphabet be when it grows up?. in this discussion, in addition to identifying the most important key to alphabet’s future success, reference is also made to the 11-year-old document that was part of google’s ipo. the insights from the mit review are applicable for not just technology businesses; the accounting profession can also draw parallels from them. here they are:

more on entrepreneurial strategy: ‘uberizing’ means more than technology | you don’t think technology helps get new clients? | do you want a practice … or a business? | tax season management: multi-tasking is a myth | 3 apps to automate business networking | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | re-learning the lingo of the accounting business | how the “1099 economy” will transform accounting | 10 things that accountants didn’t worry about 10 years ago | as block and liberty add accounting services, independents face 3 options

cpa firm success requires an effective commercialization strategy.
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‘uberizing’ means more than technology

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portrait of man in his car looking at camerago beyond what your clients might expect.

by hitendra patil

when did you last buy new software for accounting, tax preparation, practice management, sales tax calculation or payroll processing?

more on entrepreneurial strategy: you don’t think technology helps get new clients? | do you want a practice … or a business? | the 5 most common marketing blunders accountants make | linkedin adds messaging. finally! | what cpa firms could learn from google’s alphabet | what if accounting firms were ‘apps?’ | top 10 entrepreneurial traits of successful accountants

think for a moment: how did you arrive at the decision to buy the new software? what did you think before buying?
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