The Practicing Accountant

15. Strategies for Creating Capacity in Your Accounting Practice

In this episode of "The Practicing Accountant," Dan and Doug discuss creating capacity, focusing on identifying and prioritizing the most impactful changes. They emphasize the importance of saying "no" to less ideal clients and tasks to make room for what truly matters. Doug shares a list of ways to create capacity, from delegating tasks to improving health and leveraging automation. He highlights the significance of knowing what you want to say "yes" to, using the analogy of choosing your favorite ice cream flavor. This intentionality helps accountants build a firm that aligns with their goals and desired lifestyle. For more resources and support, visit thepracticingaccountant.com.

14. Transforming Leadership in Accounting with the RACI Matrix

In this episode of "The Practicing Accountant," the guys introduce the RACI Matrix (Responsible, Accountable, Consulted, Informed), a tool to help accounting professionals delegate tasks and transition from client-facing roles to leadership positions. Doug discusses the common challenge of experienced professionals being unable to step back from client work and emphasizes the importance of clear communication and training replacements. They explain how accountants can move from being "players" to "coaches" and eventually "spectators", allowing them to focus on higher-level tasks and strategic growth. For more resources, visit thepracticingaccountant.com.

13. Addressing the Accounting Pipeline Crisis

In this episode of "The Practicing Accountant," Dan and Doug discuss the challenges facing the accounting industry, focusing on the recently released draft strategy report by the AICPA's National Pipeline Advisory Group. They emphasize the importance of transforming employer cultures and business models to address the declining pipeline of new accountants entering the profession. Key strategies include creating a compelling story about accounting careers, improving college experiences for accounting majors, reducing education costs, supporting CPA exam candidates, expanding access for underrepresented groups, and transforming employer cultures.
Dan and Doug encourage listeners to sign the pledge at accountingpipeline.org and commit to taking two actions to support the pipeline. They also highlight the need for firms to create a better experience for their teams and clients by raising prices, firing unprofitable clients, and focusing on value-based pricing.
For more insights, or to join the membership, visit thepracticingaccountant.com.
Discussed in this episode: 
https://www.accountingpipeline.org/draft-report/
https://www.accountingpipeline.org/
https://www.youtube.com/watch?v=qEJ4hkpQW8E

12. Mindset Shift: From Practitioner to Owner

In this episode of "The Practicing Accountant," Dan and Doug dive into the important topic of transitioning from a practitioner to an owner mindset. They discuss the distinctions between the two roles and emphasize the importance of intentionality in daily activities. Drawing insights from the E-Myth and practical strategies like time blocking, prioritizing big tasks, and reflecting on weekly activities, they offer actionable advice for accountants to shift their focus towards business growth and strategic development. For more valuable resources and insights, visit thepracticingaccountant.com.

11. Maximizing Personal Capacity for Business Growth

In this episode of "The Practicing Accountant," Dan and Doug delve into the concept of creating personal capacity to enhance business capacity. They discuss the importance of managing personal time and priorities effectively to ensure business growth and efficiency. The conversation highlights several key strategies, including Eisenhower's Box for prioritizing tasks, the importance of morning routines, and the performance equation to identify and reduce interference in achieving potential. They also touch on practical tips like the three questions to ask each morning to set a productive tone for the day. For more insights and resources, visit thepracticingaccountant.com.

10. Fraud Cases, Radical Pricing, and the Power of Niching

In this episode of "The Practicing Accountant," Dan and Doug dive into current events, including the recent BF Borger's SEC fraud case, and discuss its implications for the accounting industry. They also touch on Jodi Pedar's new book on pricing strategies. The main focus of the episode is on the importance of niching in the accounting field. Doug shares insights on how to identify and establish a niche, emphasizing the benefits such as increased pricing power, easier marketing, and stronger client relationships. The conversation highlights different methods for choosing a niche, including following passions, market trends, existing client bases, and personal expertise. For more insights and strategies, visit thepracticingaccountant.com.

9. The Power of Niching: How to Attract the Right Clients

In this episode of "The Practicing Accountant," Dan and Doug discuss the power of niching in the accounting industry. Doug shares a recent email from a potential client who found him through a targeted Google search, highlighting the effectiveness of Search Engine Optimization (SEO) and the importance of a specialized niche. They emphasize that having a clear niche not only simplifies the client acquisition process but also enhances credibility and allows for premium pricing without resistance. The conversation covers the benefits of owning your niche, attending industry conferences, and the value of building a strong online presence tailored to specific client needs. For more insights and strategies, visit thepracticingaccountant.com

8. How to Attract the Right Clients for Your Firm

In this episode of "The Practicing Accountant," Dan and Doug discuss how to attract new clients and enhance pricing power. They highlight the importance of being intentional in client acquisition and differentiate between marketing and advertising. Key strategies include leveraging personal passions, effective networking, and building strategic partnerships. Doug emphasizes the need for active business development and regular communication with your network. The conversation encourages accountants to be proactive and intentional in building a client base that aligns with their goals and values. Visit www.thepracticingaccountant.com for more insights.

7. Five Key Practices Every Firm Owner Should Adopt Year-Round

In this episode of "The Practicing Accountant," Dan and Doug discuss five essential practices that every firm owner should incorporate year-round to ensure success and sustainability. These practices include tracking data, serving clients as well as you could, getting your ideal clients, building succession, and creating the business you want. They highlight the importance of being intentional and proactive in these areas, emphasizing that it doesn't have to be the way it is; it can be more of what you want. Tune in for valuable insights and actionable tips to elevate your accounting practice. Visit us at www.thepracticingaccountant.com for more information.

6. Five Essential Actions Every Firm Owner Should Take This Summer

In this episode of "The Practicing Accountant," Dan and Doug discuss the top five things every firm owner should do this summer to set themselves up for success in the coming year. The list includes establishing new behaviors, planning intentionally, going fishing for ideal clients, raising prices, and creating memorable experiences with clients. They also touch on the importance of firing bad clients at the right time. Tune in for insights and practical tips to elevate your accounting practice. Visit us at www.thepracticingaccountant.com for more information.