The Practicing Accountant

45. Staying Ahead in 2025: Insights and Strategies for Accounting Firms

In this episode of The Practicing Accountant, Doug and Dan dive into Accounting Today's latest survey exploring the challenges and opportunities for accounting firms heading into the new year. The discussion highlights the ongoing struggle between optimism and resistance to change in the profession.
They unpack the relevance of these trends for firm owners, including:
The importance of refining service offerings, particularly in advisory services.Why adopting technology and streamlining administrative work is crucial for growth.The role of AI and automation in shaping the future of accounting firms.How firm leaders can improve staffing strategies and embrace remote work to attract and retain top talent.Doug and Dan share actionable insights to help firm owners avoid complacency and make intentional decisions that set them up for success. Whether it’s rethinking workflows, revisiting pricing strategies, or taking steps to differentiate your services, this episode offers plenty of food for thought as you prepare for the year ahead.
Check out the full survey here.
For more episodes and resources, visit The Practicing Accountant!

44. Leveraging CAS: Growth, Niches, and Opportunities for Your Firm

In this episode of The Practicing Accountant, Doug and Dan discuss the growth and opportunities in Client Advisory Services (CAS), driven by insights from the latest AICPA survey. They highlight the shift away from hourly billing toward fixed-price models, the importance of niching for profitability, and the growing role of higher-level services like CFO and business insights. Doug challenges listeners to add or refine a CAS offering in their firm, emphasizing the value of intentionality, strategy, and staying informed in a competitive market. For more insights, visit www.thepracticingaccountant.com.

43. Staying Informed, Niching Down, and the Power of Saying No

In this episode of The Practicing Accountant, Doug and Dan tackle the importance of niche specialization and partnering with other firms. They discuss insights from Barry Melancon’s recent remarks about small firms needing to define their business models, identify their ideal clients, and excel in a specific niche rather than trying to be all things to all clients.
Doug highlights the pitfalls of the "people pleaser" mindset that drives firms to take on work outside their expertise, while Dan shares real-world examples of how his firm thrives by focusing on a specific service and collaborating with complementary firms. They emphasize that clients appreciate candor and referrals to better-suited providers, as it builds trust and avoids inefficiencies.
The takeaway: Lean into your niche, partner with others to fill gaps, and say "no" to work that doesn’t fit. Serving clients well doesn’t mean doing everything—it means doing what you do best.
For more tips, visit thepracticingaccountant.com.

42. Networking for Accountants: Turning Competitors into Collaborators

In this episode of The Practicing Accountant, Doug and Dan discuss the value of networking with other accountants. They emphasize how building relationships with fellow professionals can combat the isolation of running a firm, open doors for collaboration, and even generate referrals.
Doug highlights the benefits of co-firming—working with complementary firms to share clients and expertise—and how clear niche definition can make these partnerships more effective. Dan shares how his firm uses referral agreements to incentivize other accountants to send them clients, creating a win-win for both parties.
The takeaway: accountants should set aside competition fears and connect with peers to share best practices, expand networks, and grow their firms sustainably.
For more tips, visit thepracticingaccountant.com.

41. Tax Season Survival: How to Take Control of Capacity Before It Controls You

In this episode of The Practicing Accountant, Doug and Dan dive into preparing for busy season, emphasizing the importance of intentional planning to avoid burnout and chaos. They discuss how most accountants take on work without assessing their firm's capacity, leading to overcommitment and stress.
Doug shares a simple capacity planning method: estimate hours needed for client work, compare with available team hours, and identify gaps. This approach enables firms to set boundaries, schedule work intentionally, and even use differential pricing to manage demand.
Dan highlights how proactive scheduling improves client experience, pricing power, and staff well-being. The key takeaway: plan your workload with intention to create a sustainable, profitable firm.
For more tips, visit thepracticingaccountant.com.

40. How One Firm Hit $1M in Record Time: From Comfortable Networking to Business Freedom

In this episode of The Practicing Accountant, Doug and Dan share a client success story: reaching a $1 million revenue goal two years early. The secret? Embracing a niche and intentional networking.
Doug explains how the client overcame hesitation to define their niche, attended industry events, and built key connections. This focus not only drove rapid growth but also allowed the client to offload unwanted work and focus on ideal clients.
The takeaway: clarity and intentional action can accelerate growth and give you control over your firm’s direction.
For more tips, visit thepracticingaccountant.com.

39. How Intention Transforms Productivity: From Weekend Projects to Business Success

In this The Practicing Accountant episode, Doug and Dan emphasize the importance of intention. Doug shares how a purposeful weekend set him up for success, contrasting it with the results of aimless time. They stress that intention is more than just setting goals—it’s about taking specific actions toward them.
They add that clarity is crucial; vague goals like “networking more” lack the structure needed to create real progress. Their advice: Define your goals, act on them, and make intention the driving force behind meaningful change.
For more insights, visit thepracticingaccountant.com.

38. Cross Selling and Specializing in Your Firm

In this episode of The Practicing Accountant, Doug and Dan discuss how accounting firms can strengthen client relationships and boost pricing power by focusing on a few core services instead of trying to offer everything. They argue that specialization allows firms to deliver higher-quality work, charge premium prices, and avoid the pitfalls of overextending.
Key takeaway: Focus on what your firm does best to attract ideal clients and enhance profitability.
For more insights, visit www.thepracticingaccountant.com.

37. Starting from Scratch: How to Grow Your Firm Without Wasting Time

In this episode of The Practicing Accountant, Doug and Dan talk about the challenges of starting out as a solopreneur. Doug recalls focusing on non-revenue tasks like tweaking his website and designing business cards, instead of going after clients. They stress that the top priority for any new business is getting clients—even if they aren’t ideal—just to start generating income.
They highlight the importance of networking and reaching out to other CPAs for potential referrals. Doug suggests being proactive by contacting dream clients and leveraging personal networks to start building momentum. The key takeaway: focus on getting clients first, then worry about refining your business later.
For more tips, visit www.thepracticingaccountant.com.

36. Why Saying 'No' is the Key to Winning Better Clients

In this episode of The Practicing Accountant, Doug shares how he recently said “no” to new work, even with available capacity, emphasizing the importance of staying true to your niche. Doug and Dan discuss "niche working," a focused approach to networking that targets specific industries and relationships, leading to better results than traditional networking.
They share examples of how narrowing focus on a niche, like construction or law, can generate more ideal clients and higher value connections. Dan highlights how his firm became a recognized expert in a specific industry, boosting opportunities and pricing power.
For more tips, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!