10 steps to start innovating

do you want your firm to last after you’re gone?

by jody padar
from success to significance: the radical cpa guide

cpas are busy people – often to the detriment of their customers. when cpas don’t have time to understand their customers, they fail to give them real value and creative solutions.

more on radicalism: how ‘agile’ applies to cpa firms | introducing the fifth radical tenet: the business model | dear midsized firms: yes, you can change | the four tenets of radical firms: a brief review
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this is really concerning to me. it concerns me that many cpas are unwilling to do the work to keep their firms relevant. although they know that the world no longer works the way it did 20 years ago, they simply shrug their shoulders or look the other way because confronting change seems like too much work.
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donny shimamoto explains how ‘agile’ applies to cpa firms


examine change from three standpoints: financial, technology, and people.

donny c shimamoto, cpa citp intraprisetechknowlogies
shimamoto

by jody padar
from success to significance: the radical cpa guide

today we’re going to ask the agility expert. donny c. shimamoto, cpa, citp, cgma, is managing director of intraprisetechknowlogies llc.

more on radicalism: introducing the fifth radical tenet: the business model | the value of new ideas | the radical road to (business) transformation | the radical cpa: always changing
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jp: can you describe what your firm does?

ds: we help transform cpa firms in a couple of ways. one is to help them embrace the cloud in a reasonable manner. the second is to embrace new approaches to working. you could even maybe say that we help them become radical firms.
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introducing the fifth radical tenet: the business model

businessman switching on "innovation" slider buttonsix barriers to innovation.

by jody padar
the radical cpa

many radicals have already made the shift to pricing by value or a fixed price agreement. yet, they are still tracking time.

more on radicalism: the value of new ideas | our pain points are opportunities | transitioning to a radical firm: bringing a legacy customer along | the four tenets of radical firms: a brief review | the radical cpa: always changing
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when we value our team on an hour, it leaves almost no time for innovation to occur. an incremental shift could be to allow for a certain number of innovation hours per week. however, once again, this is a huge limit on creating an innovative culture.
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the value of new ideas

question marks5 questions to ask.

by jody padar
the radical cpa

how valuable is a new idea?

more on radicalism: our pain points are opportunities | dear midsized firms: yes, you can change | the four tenets of radical firms: a brief review
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this is the question every cpa is asking right now. what’s the roi? or as futurist tom hood of the maryland association of cpas would say, “what’s the return of not investing?”
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our pain points are opportunities

"opportunity just ahead" road sign in desert“our cultures eat the opportunity to innovate.”

by jody padar
the radical cpa

opportunities are everywhere. as a successful business owner, you already know this. but when you look at your firm’s biggest challenges, do you see opportunities?

more on radicalism: dear midsized firms: yes, you can change | the radical road to (business) transformation | transitioning to a radical firm: bringing a legacy customer along | the four tenets of radical firms: a brief review | the radical cpa: always changing
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opportunities are always openings for innovation or change. as a firm owner, you have a choice: you can address your challenges about the changing market head on or you can just hide your head in the sand and leave them for the next generation to tackle.
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dear midsized firms: yes, you can change

why you should strive for utopia.

by jody padar
the radical cpa

in a traditional firm, the partner is the center of everything – from technical knowledge to relationship management to operations.

more on radicalism: the radical road to (business) transformation | transitioning to a radical firm: bringing a legacy customer along | the four factors for fixed pricing | target content to consumers, not industry | social + strategy = success | make the cloud work for you | 5 ways to capitalize on trends

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and, it’s not a pretty sight.

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the next step for radicals

hint: it’s not optional.

by jody padar
the radical cpa

for radical cpas, this is the next step in our business model innovation: innovation at such a high level that our fathers (and mothers) won’t even recognize our companies as cpa firms.

more on radicalism: the radical road to (business) transformation | transitioning to a radical firm: bringing a legacy customer along | the four tenets of radical firms: a brief review | the radical cpa: always changing
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this will become more apparent as artificial intelligence (ai) takes over and accounting is truly machine-driven. a cpa will use data completely differently than he or she does today; we don’t know what we don’t know yet.
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the radical road to (business) transformation

man drawing yellow rocket going opposite way of many smaller white rockets“innovation is not just a one-time business model change.”

by jody padar
the radical cpa

when i wrote “the radical cpa,” i thought that the four fundamental tenets would take us indefinitely into the future.

more on radicalism: transitioning to a radical firm: bringing a legacy customer along | the four tenets of radical firms: a brief review | the radical cpa: always changing
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but i realize now the future demands more than that.
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transitioning to a radical firm: bringing a legacy customer along

illustration of cloud softwareyour customers might surprise you with their willingness to update.

by jody padar
the radical cpa

as you migrate your firm’s current customer base to your new way of working, you may be surprised by how your customers will adapt.

more on radicalism: the four tenets of radical firms: a brief review | the radical cpa: always changing
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many of my small business customers are near world-famous locations. you may have heard of or seen the first season of the hit netflix series, “making a murderer.” the murder took place outside of sheboygan, wisconsin, at a junkyard. it’s kind of in the middle of nowhere.
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the four tenets of radical firms: a brief review

purple no. 4 billiard ballsay goodbye to change management.

by jody padar
the radical cpa

before we can fully leap into the future, we need to understand where we’ve been.

more on radicalism: the radical cpa: always changing | the four factors for fixed pricing | clients buy solutions, not time | how to leverage social media | target content to consumers, not industry | narrow your social focus | why transparency matters to clients
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the foundation of any radical or new firm is comprised of the four tenets.
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the radical cpa: always changing

chalkboard reading "free thinkers wanted"how did we get here and where are we going?

by jody padar
the radical cpa

people always ask me why “radical”? isn’t it a charged word?

what’s so radical about me?

more on radicalism: the four factors for fixed pricing | clients buy solutions, not time | narrow your social focus | how to measure social business… and why | 6 ways the cloud helps cpa firms | you’re already a consultant
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when i talk about radical, it’s not so much about me, but about my beliefs and actions.
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the four factors for fixed pricing

price targetplus 5 reasons not to manage employees by timesheet.

by jody padar
the radical cpa

ron baker and ed kless of the verasage institute are the hands-down experts on value pricing. they do a phenomenal job of explaining how it works and why you shouldn’t track time.

more on radicalism: clients buy solutions, not time | how to leverage social media | why transparency matters to clients | how to become a social business | the cloud is your starting point | why transparency matters in the ‘new firm’ | 10 questions to prepare for radical change | radical firms embrace 4 values
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i’ve done it for the last nine years and i absolutely love it. i would never go back to time and billing.
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clients buy solutions, not time

hand building word "solution" with letter blocksplus 4 notes about client phone calls.

by jody padar
the radical cpa

“forget about pricing and think about what people buy.”

more on radicalism: how to leverage social media | target content to consumers, not industry | social + strategy = success | make the cloud work for you | 5 ways to capitalize on trends | embrace disruption | new thinking brings new results | 10 questions to prepare for radical change | who’s your competition? everyone | how the ‘new firm’ was born | radical firms embrace 4 values | radical or complacent? you choose | 3 questions to ask if you dare
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customers are not buying our time. they may be buying our expertise. but they’re really buying a solution to their problem.
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