Business Strategy for CPA's
Geraldine Carter
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277 What do I say on my website? #2: Pain & Dream Examples
Business Strategy for CPA's
01/03/24 • 12 min
In this episode, we will dive into the practical side of Pains and Dreams to make it easier to know what to say on your accounting firm’s website.
We talked about the “pains” and the “dreams” in theory in episode 275, so now I want to share with you how it sounds in practice on the homepage of my own site.
This will help you to understand the concept better and start listening to your clients and prospects with these two categories in mind.
By organizing your thoughts and putting the right words on your website, you can:
- attract the kinds of clients you want to work with
- make your sales conversations more effective
- waste less time in discovery calls with prospects who aren't a good fit for your firm.
No need to burn thousands of dollars on website copy that doesn't speak to anyone. There’s an easier way.
...
Hey CPA firm owner, glad you found the podcast.
If you feel like you’ve become trapped by your own accounting firm, you’re fed up PiTB clients who get you their stuff late, don’t appreciate the value you provide, and complain to you when you don’t turn it around on a dime, I can help you stop the chaos and end the long hours, without losing revenue.
If you like the podcast, join 2500+ other CPAs who get Vitamin G, my daily dose of single-tip business strategy delivered straight to their inbox:
Subscribe here: geraldinecarter.com/subscribe
Readers say they love it because they’re short and on point.
...
Check out my “greatest hits” episodes:
Pricing for Improved Profitability #211
Killer Niches for CPAs with Tom Wheelright #178
Digital Products, Courses, and 90% Margins with The Real Estate CPA, Brandon Hall #179
Get More from Technology with Joe Woodard #244
...
Want to get your life back while protecting your revenue?
Here are a few ways I help overworked CPAs:
STOP WORKING WEEKENDS
A free five-day email course to teach you how to get your hours down without giving up revenue.
https://geraldinecarter.com/stop-working-weekends
GET LOTS OF ANSWERS FAST
For the solo CPA with a bunch of rapid-fire questions they want answers to, like:
- How high can I go on prices without sending my clients running?
- What do you think of my niche?
- How do I upsell my legacy clients?
- What’s the script for talking to prospects about higher-level and Advisory services?
- What do I put in my tiered packages?
Book a single strategy call with me, to get answers to questions like these and more. It’s covered by my 100% satisfaction guarantee. If at the end of the call, you don’t feel like it was worth it, just say the word and I‘ll refund your purchase in full.
DOWN TO 40 HOURS CPA MASTERMIND
For the overworked CPA at six figures of revenue who wants to stop working weekends and wants to implement overdue changes, but has trouble doing it alone:
- Get guidance on prices, packages, and becoming more specialized
- Disengage problem clients without blowing a hole in your firm
- Have community of like-minded CPAs on a similar journey to share what you’re working on, bounce ideas off, and get accountability
Make more progress faster and with more ease. Guaranteed to get you down to 40 hours.
geraldinecarter.com/
$7500
198 Killer Intel for CPAs on the Real Estate Investor Niche with Tom Wheelwright
Business Strategy for CPA's
07/13/22 • 35 min
For many CPAs, it feels risky to pick a cross-section of the tax-code, and burrow in. The fear is around losing clients, having to turn people away, and what if there’s a recession?
Consequently, most CPAs work as generalists, and pay the price in the form of seemingly infinite rotations on the treadmill.
My guest today has built an exemplary business around expertise in one niche, and that person is Tom Wheelwright, CPA.
Tom is a tax and wealth expert and is the CEO of WealthAbility®. He is the bestselling author of Tax-Free Wealth: How to Build Massive Wealth By Permanently Reducing Your Taxes, and he is releasing his next book this summer titled The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make.
His goal is to help people achieve their financial dreams faster by permanently and legally reducing their taxes.
Highlights:
— “I wrote The Win-Win Wealth Strategy to talk about how taxes really work, how incentives really work, and what the government gets out of it.”
— “Tax incentives have just taken off as a way for the government to influence investment behavior.”
— “Tax incentives are actually investments the government will literally pay you to make.”
— “You subniche to increase your focus and reduce the amount of time that you have to spend doing research, because then you don't have to know about everything.”
— “One of the challenges we have as CPAs, especially the smaller firms, is we tend to rely on personal, direct oversight as opposed to having systems. The client will get to a point where they're looking for systems help. And this is something where we can provide high value services to them.”
— “Don't think this is tax avoidance or tax evasion. It's none of that. This is what the government wants you to do.”
***Want one piece of business strategy delivered daily to your inbox?***
Subscribe here: https://www.geraldinecarter.com/subscribe-main-list
Connect with TOM:
Tom Wheelwright, CPA Website: https://tomwheelwright.com/
WealthAbility Website: https://wealthability.com/
LinkedIn: https://www.linkedin.com/in/tomwheelwright/
Episode mentions:
178 Killer Niches for CPAs
https://businessstrategyforcpas.com/178
Tom’s book:
The Win-Win Wealth Strategy: 7 Investments The Government Will Pay You To Make
Pre-order: https://winwinwealthstrategy.com/
For multiple copies: https://winwinwealthstrategy.com/bonuses
156 Get Different, Get Noticed: Better Marketing for CPAs with Mike Michalowicz
Business Strategy for CPA's
09/22/21 • 23 min
Many CPAs are frustrated because they feel invisible in a crowded marketplace. They know they are better than their competitors, but when they focus on that fact, they get little in return. That's because, to customers, better is not actually better. Different is better. And those who market differently, win.
In his new marketing book, Mike Michalowicz offers a proven, no-bullsh*t method to position your business to get noticed, attract the best prospects, and convert those opportunities into sales.
Today I speak with Mike Michalowicz, author of 7 books, now including Get Different.
Highlights:
- If the bulk of your business comes from customer referrals, you have limited control over your growth, putting you in a precarious position
- We need a way to throttle the flow of leads: to be able to turn the spigot up when we want more clients, or turn it down when necessary, but not be at the whims of referrals.
- The smart marketing money is on testing: run small experiments. No results? Fine. Good results? Invest more.
- Sadly, many business owners take the random pot-shot approach, and that’s a mistake.
- Being different doesn’t necessarily mean outrageous. Being different helps you stand out, cut through the noise, get noticed, and attract the right people to you.
Connect with Mike Michalowicz:
Website: https://www.gogetdifferent.com/
Purchase Get Different: https://www.amazon.com/gp/product/0593330633/ref=as_li_ss_tl?&linkCode=ll1&tag=obsidian-20&linkId=eca96009472be51113c717d00aa6ca08&language=en_US
Episode mentions:
https://www.smartstrategyforcpas.com/083 Fix This Next In Your Accounting Practice
Want to find out what options you might have for working together?
More about 1:1 coaching, roadmaps, and DIY courses here:
102 A High-Margin CPA Firm: It’s Easier than You Think
Business Strategy for CPA's
09/09/20 • 13 min
Today we're talking about your business. Is it a lot of work? Do you spend it too many hours or more hours than you want in front of a screen toiling away?
At the end of a long work week, do you ever wonder if there was an easier way? Many CPAs work really hard. And when I say hard, I mean, lots of hours, lots of clients, endless fires. And it can seem like hard is the path, and it can be the only path that you see.
But what I want you to know is that there are easier paths available to you. And I will tell you what keys you need to unlock these easier paths.
But first, I want you to listen to my story about inner tubes and me and some friends, a few years back.
So how is this misadventure relevant to you?
You got started as a CPA. And you knew it might not be easy-peasy. You may have thought that there was some risk, but little did you know that you would end up in the position of having 250 or 1400 returns to process in a 10-week timeframe.
And there were probably moments that you felt desperate. And when you have that desperate or piled on or overwhelmed or sucked under feeling, it can be difficult to see the path out.
What I want you to know is that if you're feeling swamped in your accounting practice, that you are only in knee-deep water, because you have a skill set that no one else has.
As a CPA, you are able to understand a business's finances in ways that other professionals simply cannot. As a CPA, you are uniquely positioned to provide immeasurable value to your clients. You are standing in two feet of water. It's just a matter of harnessing your talent and your ability to provide insights and get it pointed in the right direction.
So remember at the top of this episode, when I said, I would tell you how to find an easier path? Here are five pieces that you need to get on the easier path:
- Learn to value price.
- Continue to narrow your niche or specialize.
- Develop a framework for consistent high-quality results.
- Make yourself visible.
- Be open to the idea that it can be easy. And that it's all right for it to be easy.
If you believe that it's supposed to be hard or that making money isn't supposed to be easy, your subconscious will seek out ways to make you right. And you will continue to make it hard.
If you believe that it can and that it should be easy, your subconscious will look for the easy path. And when you're looking for the easy path, the answer will appear.
Episodes mentioned:
081 Time To Rethink Your Pricing Strategy? With Ron Baker, Founder Of Verasage Institute https://shethinksbigcoaching.com/081
091 Is Your Accounting Niche Niche-y Enough?
https://shethinksbigcoaching.com/091
054 How Narrowing Your Niche Can Help You Grow Faster
https://shethinksbigcoaching.com/054
098 A Framework is Essential to CPAs Working Less and Earning More
https://shethinksbigcoaching.com/098
Upcoming training:
PLAYING SUPERHERO
Stop being all things to all people: How to narrow your niche the easy way
Thursday, September 24, 12pm ET
GIVE UP CALCULATING $ PER HOUR
Break free of this arbitrary metric: there is a better way
Thursday, October 22, 12pm ET
Schedule time with Geraldine:
https://calendly.com/geraldinecarter/15min
Download the ebook “6 Simple Steps to Double Your Revenue”
https://shethinksbigcoaching.com/download-double-your-revenue
Work with Geraldine:
Strategy Session https://shethinksbigcoaching.com/strategy-session/
1:1 Coaching https://shethinksbigcoaching.com/business-coaching/
067 Best Reads from 2019
Business Strategy for CPA's
01/08/20 • 36 min
I wanted to start the year off with top five books and reviews from 2019, but I couldn't help myself and I got to at least nine. There were so many great reads that I got through this year.
I hope you find something to enjoy that will potentially contribute to your own inside transformation. And by proxy, contribute to the transformation of your business, and lead to you living a whole and beautiful life.
Here’s my 9 best reads from 2019:
- This is Marketing - Seth Godin
https://www.amazon.com/This-Marketing-Cant-Until-Learn/dp/0525540830/
- Million Dollar Consulting - Alan Weiss
https://alanweiss.com/shop/books/paperback/million-dollar-consulting/
- How Women Rise - Sally Helgesen and Marshall Goldsmith
- The Pumpkin Plan - Mike Michalowicz
https://pumpkinplanyourbiz.com/book/
- The Soul of Money - Lynne Twist
- Overcoming Underearning - Barbara Stanny
https://www.barbara-huson.com/books-products/
- You are a Badass at Making Money - Jen Sincero
- Boundaries - Cloud & Townsend
https://www.amazon.com/Boundaries-Updated-Expanded-When-Control/dp/0310351804/
- The Gifts of Imperfection - Brene Brown
https://brenebrown.com/books-audio/
Download ebook “6 Easy Steps to Double Your Revenue”
https://shethinksbigcoaching.com/download-double-your-revenue
Work with Geraldine:
Strategy Session https://shethinksbigcoaching.com/strategy-session/
1:1 Coaching https://shethinksbigcoaching.com/business-coaching/
092 Level the Playing Field with Germeen Guillaume of Visionary Accounting Group
Business Strategy for CPA's
07/01/20 • 35 min
Today’s guest is Germeen Guillaume (GEE-YOME), Founder of Visionary Accounting Group.
Germeen founded Visionary Accounting Group in 2015 and has been helping nonprofits leverage technology as a means to gain deeper financial insight and real time data.
To date, Germeen has led the Company in recouping over $2.8M in receivables, through workflow automation and accounting system conversions.
I wanted to have Germeen on to better understand the experience that people of color have when it comes to being an accountant and business owner, so that you can be on the lookout for opportunities to level the playing field.
What stood out to me long before I recorded this episode is just how much leadership in the accounting space is predominantly white and mostly male.
And as a woman, frankly, I’m not down with that.
What this conversation helped me see is how pervasive and systemic biases and prejudices are in accounting, banking, and funding , and how much work there is to be done. It’s shifted how I view my role as someone who values a level playing field.
Rather than a call to action that supports my business, which is what I would usually put here, instead I pass along Germeen’s request:
- Speak up when you see bias, prejudice, or racism in play
- Take the time to educate yourself about challenges that people of color uniquely face
- And if you’re in the VC space, consider who you’re funding
- Start with your inner circle - the people with whom you have contact on the regular.
Connect with Germeen:
Website: https://www.visionaryag.com/
Download ebook “6 Simple Steps to Double Your Revenue”
https://shethinksbigcoaching.com/download-double-your-revenue
Schedule time with me:
https://calendly.com/geraldinecarter/15min
Work with Geraldine:
Strategy Session https://shethinksbigcoaching.com/strategy-session/
1:1 Coaching https://shethinksbigcoaching.com/business-coaching/
258 Cut 74% of Clients and Have the Same Net Profit, with Melissa Downs, EA
Business Strategy for CPA's
08/18/23 • 36 min
Hey CPA Firm owner, glad you found the podcast.
If you feel like you’ve become trapped by your own accounting firm, you’re fed up PiTB clients who get you their stuff late, don’t appreciate the value you provide, and complain to you when you don’t turn it around on a dime, I can help you stop the chaos and end the long hours, without losing revenue.
If you like the podcast, join 1000+ other CPAs who get Vitamin G, my daily dose of single-tip business strategy delivered straight to their inbox:
Subscribe here: geraldinecarter.com/subscribe
...
THIS WEEK’S EPISODE
What if you could cut your client roster waaaaaaay down, without taking a hit to your bottom line?
Melissa Downs, EA did just that. In Down to 40 Hours CPA Mastermind, she worked through her client roster, updated her pricing, sent out 600+ disengagement letters, and kept her net profit exactly the same.
Six months ago she said she didn’t think it was possible. Not for her, anyway.
Now, she has a 3-week unplugged cruise planned for the fall, and the eventual goal is to live overseas for a few months while the firm runs without her coming in everyday.
You can find Melissa via her website:
https://midwestbkpg.com/
...
Listen to other stories from 1:1 clients:
Offer Productized Services with Sheila Hansen, CPA
Freedom to Choose Not to Double Revenue with Prithi Daswani, CPA
When you need to explore, with Rebecca Driscoll, CPA
15 Hour Weeks, $200K, 70%+ Margins, with Erica Goode, CPA
...
Want to get your life back while protecting your revenue?
Here are a few ways I help overworked CPAs:
GET LOTS OF ANSWERS FAST
For the solo CPA with a bunch of rapid-fire questions they want answers to, like:
- How high can I go on prices without sending my clients running?
- What do you think of my niche?
- How do I upsell my legacy clients?
- What’s the script for talking to prospects about higher-level and Advisory services?
- What do I put in my tiered packages?
Book a single strategy call with me, to get answers to questions like these and more. It’s covered by my 100% satisfaction guarantee. If at the end of the call, you don’t feel like it was worth it, just say the word and I‘ll refund your purchase in full.
DOWN TO 40 HOURS CPA MASTERMIND
For the overworked CPA at six figures of revenue who wants to stop working weekends and wants to implement overdue changes, but has trouble doing it alone:
- Get guidance on prices, packages, and becoming more specialized
- Disengage problem clients without blowing a hole in your firm
- Have a community of like-minded CPAs on a similar journey to share what you’re working on, bounce ideas off, and get accountability
Make more progress faster and with more ease. Guaranteed to get you down to 40 hours.
geraldinecarter.com/
$7500
1:1 PRIVATE COACHING
For the firm owner with $1M+ in revenue who is caught in the weeds of tax work and fielding never-ending staff questions, I offer a high-touch 5-month experience. The aim is to get you down to working only 5 days a week, while 5-10x-ing your investment.
336 Working Too Many Hours? The Solution is Easier Than You Think
Business Strategy for CPA's
02/19/25 • 57 min
Today's episode is an audio replay of a webinar I hosted last week, "Working Too Many Hours? The Solution is Easier Than You Think."
In this session, I walk you through the solution to overworking, what’s at stake if you solve (or don’t solve) the problem, the money being left on the table, and the steps you need to take to start reducing your hours—without sacrificing revenue.
Since this was a live webinar, there were visuals, but even without them, I think you’ll get the full picture.
I also talk about Peak Freedom, my community for EAs and CPAs who want to work fewer hours while maintaining profitability. You’ll hear me mention a special replay, "Roadmap to Peak Freedom: The 6 Doable Steps You’re Missing," which was available for a limited time.
If you don’t want to miss the next live session, be sure to get on my email list at https://geraldinecarter.com.
And of course, if everything I share makes perfect sense and you're ready to take action, I’d love to welcome you inside Peak Freedom.
...
Link to full shownotes:
https://www.businessstrategyforcpas.com/336
...
If you feel trapped by your own accounting firm, I can help you stop the chaos and end the long hours without losing revenue or hiring. Join 3000+ other CPAs who get my single-tip daily emails.
.
Subscribe here: geraldinecarter.com/subscribe
.
Readers say they love it because they’re short and on point.
...
Want client interviews?
310 From Exhausted to Having Her Life Back: Wendy Norman, CPA
304 From 55 Down to 15 Hours; Same Take-Home Pay with Melissa Downs, EA
293 What it Takes to Work 15 Hours per Week with Erica Goode, CPA
Complete list:
geraldinecarter.com/client-interview-episodes
...
FOUR ways I help overworked CPAs go down to 40 hours without losing revenue or hiring:
THE EMAIL COURSE – Free
geraldinecarter.com/stop-working-weekends
Stop Working Weekends will teach you how to reduce your hours without giving up revenue.
THE BOOK – $9.99
geraldinecarter.com/book
Down to 40 Hours – A Roadmap for CPAs to End Overworking Without Losing Revenue
PEAK FREEDOM COMMUNITY – $197/mo
geraldinecarter.com/peak-freedom
For solo and small accounting firm owners who want to rise above the insanity of hustle-culture
CPA MASTERMIND – $9500
geraldinecarter.com/40For the overworked CPA at six figures of revenue who is ready to stop working weekends, wants to implement overdue changes, and doesn’t want to do it alone. You’ll make progress faster and with more confidence.
...
133 Cybersecurity for CPA Firms
Business Strategy for CPA's
04/14/21 • 28 min
Do you ever wonder if your tech security is tight enough? Not sure if it’s your firewalls are like swiss cheese, or if you’re a sitting duck, just waiting for a stealthy hacker to pick off your IP address and exploit your data?
Having holes in your security is high risk. Get unlucky and your whole system could be down for a day, or cost you tens of thousands of dollars in ransom fees or you can unknowingly be directing payments to fraudulent accounts.
My guest today is Darren Strong, owner of Focus Technology Solutions, which provides IT services dedicated to the accounting industry.
Today we are digging in to your biggest security risks, especially because with the advent of you and your staff working from home, there is a lot to pay attention to.
What we cover:
Cyber Criminals Are More Sophisticated than You RealizeThey mine the data you have sprinkled across social media to create a persona so they know how to look and sound like you.
If you get hacked, it used to be that you would know right away. Now, if you get hacked, they’ll stick around and study your behavior. They’ll learn how you talk, how you ask for thing, how you instruct staff in your business to perform certain tasks.
From the outside looking in, all they see is an IP address.
It’s only once they get inside, they understand how big your business is.
They will imitate the CEO instructing the CFO to pay a certain bill.
Steps you can take to protect your CPA Firm from Cyber FraudThere are many steps you can take to reduce your risk of attack:
- Have an internal process to double-check new payments to new accountants.
- If your employees are using their home machines, their are additional risk openings.
- Set up your software systems for “least privileges” - restrict their role
Your biggest threat is your internal employees
- Accidental deletion or exposure of data
- Malicious exposure of data
Cyber Fraud insurance can protect you.
When it comes to Cyber Security for CPA firms, where should I start?You can list the risk profile of certain types of data you have, and list the cost if that data was lost. When cost and risk are high:
- Reduce number of people who have access to that data
- Two-factor authentication
- Stop anything being printed
- How they can access: corporate or home machine
Start with what software do you have and what data does it have so you can break it into different levels.
Connect with Darren Strong:
Website: https://www.focustechs.co.uk/
LinkedIn: linkedin.com/in/darren-strong/
Free 5-day email course - Better Pricing Strategies for CPAs
Want some help in your CPA firm, but not sure where to start?
Schedule a free discovery call with me:
https://calendly.com/geraldinecarter/15min
Want to find out what options you might have for working together?
More about 1:1 coaching, roadmaps, and DIY courses here:
328 Cross-Post with Alexis Slama of The Accounting Business Club
Business Strategy for CPA's
12/30/24 • 83 min
You might have heard me say I wasn’t planning to record while in France for 5 weeks, but then a funny thing happened:
Alexis Slama, Founder of The Accounting Business Club, reached out and asked if I would record an episode for his eponymously named podcast while in Paris.
Naturally, I said, “Oui.”
It’s in French, so you’re welcome to give this one a pass. :)
...
Link to full shownotes:
https://www.businessstrategyforcpas.com/
...
Find Alexis Slama and The Accounting Business Club
...
If you feel trapped by your own accounting firm, I can help you stop the chaos and end the long hours without losing revenue or hiring. Join 3000+ other CPAs who get my single-tip daily emails.
.
Subscribe here: geraldinecarter.com/subscribe
.
Readers say they love it because they’re short and on point.
...
FOUR ways I help overworked CPAs go down to 40 hours without losing revenue or hiring:
THE EMAIL COURSE – Free
geraldinecarter.com/stop-working-weekends
Stop Working Weekends will teach you how to reduce your hours without giving up revenue.
THE BOOK – $9.99
geraldinecarter.com/book
Down to 40 Hours – A Roadmap for CPAs to End Overworking Without Losing Revenue
PEAK FREEDOM COMMUNITY – $197/mo
geraldinecarter.com/peak-freedom
For solo and small accounting firm owners who want to rise above the insanity of hustle-culture
CPA MASTERMIND – $9500
geraldinecarter.com/40For the overworked CPA at six figures of revenue who is ready to stop working weekends, wants to implement overdue changes, and doesn’t want to do it alone. You’ll make progress faster and with more confidence.
...
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FAQ
How many episodes does Business Strategy for CPA's have?
Business Strategy for CPA's currently has 347 episodes available.
What topics does Business Strategy for CPA's cover?
The podcast is about Marketing, Entrepreneur, Entrepreneurship, Accounting, Podcasts, Cpa, Business, Cfo and Smallbusiness.
What is the most popular episode on Business Strategy for CPA's?
The episode title '283 Feelings for Profit' is the most popular.
What is the average episode length on Business Strategy for CPA's?
The average episode length on Business Strategy for CPA's is 27 minutes.
How often are episodes of Business Strategy for CPA's released?
Episodes of Business Strategy for CPA's are typically released every 7 days.
When was the first episode of Business Strategy for CPA's?
The first episode of Business Strategy for CPA's was released on Sep 13, 2018.
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