what’s all this tweeting and liking about? by jody padar the radical cpa now it’s time to understand the social media business approach, how twitter, facebook and linkedin can help your business. first of all, stop calling it social media! … continued
how disruption is creating a “no-choice future” for some firms.
by hitendra patil
the dictionary defines “uber” as a superlative example of its kind or class. the word uber, derived from german language, means “over” or “beyond”.
you may have heard of the uberization of the taxi cab hiring industry, or of room rentals via airbnb, and other such services. that was made possible because of phenomenal leaps in internet and mobile device technologies.
more for the entrepreneurial accountant: the one word that can make accountants rich | management guru chester elton on success | savvy cpas focus on the constants | 10 things that accountants didn’t need to worry about 10 years ago | three amazing cpas who want to do tax returns for free | can accounting firms lead with work-life vision? | why accountants could be the happiest people on earth | more…
the companies, using new but still well-established technologies, are simply focusing on existing industries, simplifying them, and creating a faster, better, stronger, convenient and, more often than not, cheaper process.
accounting’s fundamental business model has not changed in more than 100 years. and this very fact makes accounting indeed a perfect candidate for uberization. albeit, with some caveats. in fact, the stealth-uberization of accounting is already happening in at least four ways: read more →
the bottom line is this: the specific technology you use doesn’t matter.
by jody padar
the radical cpa
once you decide on what cloud software you want to use, here are the 10 steps you need in order to make the transition:
step 1: adopt for your own practice. choose an online software you’d like to try and input your financials. it’s the easiest move to make, and you’ll learn a lot during the process. you’re the most intimate with your own financials, so start there.
more on radicalism: six competitive advantages for the radical cpa | radical tenet #1: embrace the cloud | radical customers are on their way | the market is moving toward the radicals | 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
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i currently run our financials in three sets of software, xero, sage one and quickbooks online. why? because i want to know what’s happening in all three products — and which one works best for me. i would also suggest playing with bill.com. it’s how you’re going to learn best how to use it. read more →
there are tools for all sizes and needs.
by jody padar
the radical cpa
we’ve said the backups and the intangibles outweigh the little annoyances. but what specifically will you gain from moving to the cloud?
more on radicalism: radical tenet #1: embrace the cloud | radical customers are on their way | the market is moving toward the radicals | 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
your customers’ expectations have now changed.
by jody padar
the radical cpa
let me clear this up now. the cloud is not an actual cloud.
it’s your software in a computer room, miles away from your physical location. i’ve been to the cloud and it’s a funny and interesting place to visit.
more on radicalism: radical customers are on their way | the market is moving toward the radicals | 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my practice
it’s just a warehouse; they take your driver’s license, they scan you in, inspect your eyeballs and make sure that you’re not some bad person. there’s a large area full of servers and wires and it’s unbelievably hot. but what was especially endearing about my experience was that my cloud provider, byron patrick from simplified innovations, couldn’t contain his excitement about taking me. he was like a kid in a candy shop. it must be a techie thing.
do you create content? you’ll need to learn.
by jody padar
the radical cpa
new customers want cpas to use the latest technology and the next generation of business owners demands it. but what about the legacy customers who you think don’t care? the original owners may not care, true. but your legacy customers are going to have the same succession issues as your firm. those customers are going to have to create a succession plan and if that plan is going to the next generation, that generation doesn’t have any experience with you as a cpa firm. and you better believe technology is important to them; it’s in their dna.
more on radicalism: the market is moving toward the radicals | 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
for example, if the dad passes the torch to the kid, and the kid says “well i don’t know john cpa all that well. they don’t use cloud technology and i’m going find a firm that does use the cloud.” they choose technology because they have no current relationship with the firm. we receive many leads from business owners in this situation.
three key insights for accountants on how to inspire staff, wow clients and convey appreciation.
called the “apostle of appreciation,” chester elton is co-author of several successful leadership books.
after analyzing the results of 850,000 interviews, elton’s team found that those who are happiest and most successful are engaged in work that aligns with what motivates them. his latest book, “what motivates me,” offers an extensively tested method to help business people identify their core motivators and figure out the disconnects between their passions and their current work.
hitendra patil, pransform coo and 卡塔尔世界杯常规比赛时间 contributor, met elton and asked him three important questions about cpa firm leadership – motivating staff, satisfying clients and showing appreciation. read more →
5 ways to be prepared.
by jody padar
the radical cpa
a cch white paper, “charting a course for the future: a report on firm preparedness,” defines some of the trends that will have the most significant impact on accounting firms and their customers over the next five years.
more on radicalism: 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
the study also notes how well-prepared accountants are to take advantage of these trends. by putting the “very prepared” firm under the magnifying glass, the report examines what makes firm owners confident about the future.
free instant download:
report on firm preparedness
the most important takeaway is that firms that feel more prepared for the future report that they are more productive and more profitable today. read more →
are you guilty of random acts of consulting?
by jody padar
the radical cpa
to me, the most trusted business advisor is the small business advisor. that’s what my customers see. my firm serves small businesses from the ground up to $10 million. yes, we look at their numbers, but practically speaking one gains a lot when you’re in their financial underwear drawer.
most of our conversations are around their questions. it’s a natural extension of the work we already do – financials, taxes, payroll, cash flow and forecasting.
more radical cpa: 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
these people are not asking complex tax questions. they’re asking about it, human resources, general licensing and for help with some decision-making. we’re small business consultants.
read more →
don’t be distracted by the hot trend of the moment.
in “10 things that accountants didn’t need to worry about 10 years ago,” 卡塔尔世界杯常规比赛时间 contributor hitendra patil generated reader reactions with some provocative thoughts about a tsunami of trends. today, he looks at the other side of the coin, starting with a quote from amazon ceo jeff bezos:
“you should build a business strategy around the things you know are stable in time and then invest heavily in ensuring you are providing those things and improving your delivery of them all the time. if you want to build a successful, sustainable business, don’t ask yourself what could change in the next 10 years that could affect your company. instead, ask yourself what won’t change, and then put all your energy and effort into those things.”
by hitendra patil
pransform inc.
what has remained unchanged in the tax and accounting profession over the last few decades? and what will not change over the next couple of decades?
more on the entrepreneurial cpa by hitendra patil here.
being a futurist is not easy. being a realistic futurist is even more difficult. but being a person who knows the foundational value of his or her profession is relatively easy, if you know why and what customers buy from you. a ceo of black & decker once said the almost proverbial “customers don’t buy a drill machine, they buy a hole in the wall.” as an accountant and tax professional, you must figure out what your customers buy from you and why they buy from you rather than from your competitors.
now is the time to think about what they will continue to buy in the future. read more →
plus 4 questions as you shift from number cruncher to advisor.
by jody padar
the radical cpa
aside from creating a new way to do compensation and work, the “new firm” model brings upon a whole new level of transparency for both the customers you work with and your employees.
more on radicalism: 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
here are just some of the things that shift: read more →
embrace the laws of disruption.
by jody padar
the radical cpa
with revolutionary change, comes disruption. you knew that, right? the three laws of disruption say that:
more on radicalism: being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
think in a new way, starting now.
by jody padar
the radical cpa
once you begin brainstorming about your new processes, you need to think about it from as many different viewpoints as possible, with an emphasis on design thinking. the easiest way to define design thinking is to look at it from your customer’s perspective instead of yours.
more on radicalism: being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice
it’s not all about you. i know, i know. but hear me out. it’s hard to look at your firm from a customer’s perspective. that’s why we gravitate to a firm-centric point of view. this point of view asks questions like:
we’re thinking about ourselves internally. nobody wants to hang out with someone who only thinks of themselves, yet that is the way we run our firms.