Building the Premier Accounting Firm

In this episode of the podcast, host Roger Knecht engages in a dynamic conversation with Donna Harris, founder of Bookkeeping Made Simple. Together, they dive deep into her journey of starting an accounting business and navigating the life changes that come with being an entrepreneur. This is a great look at how professionals from all walks of life become accounting entrepreneurs, as well as how it’s possible to achieve the work/life balance you desire at the owner of your firm.

Your Host:Roger Knecht, president of Universal Accounting Center

Guest Name: Donna Harris

Donna founded Bookkeeping Made Simple with the understanding that small businesses are the heart of the American economy. After offering to do books for a friend who said he didn’t have enough work to keep someone in the office 20 hours a week, she recognized the need for an efficient, online system. She has 20 years of bookkeeping and accounting experience and is excited to help small business owners achieve their goals. She enjoys spending time with her family and traveling whenever possible. She is the firstborn of eight children and a mother to five. She also loves hiking, camping, cooking, yoga, and fitness. A huge believer in lifelong education, she recently earned her MBA and is currently working on her Master’s of Accounting.

Highlights:

Donna shares her journey from studying Computer Science in college to working with family members and acquaintances who needed bookkeeping services at their companies. The only problem, they said, was that there wasn’t enough work to hire someone full time. Donna saw opportunity and founded Bookkeeping Made Simple.

They discuss the value of niching, and specifically the opportunity that exists in working with solopreneurs or micropreneurs, who may not have the resources to hire big accounting firms.

Donna reveals the challenges that come with being a single mother and starting a business, including developing boundaries and a comfortable work/life balance. Starting an accounting business and working from home allowed her to homeschool her kids.

Roger and Donna explore how Donna’s upbringing motivated her to work hard and live up to her responsibility to care for those in her life as a professional.

They emphasize the difference in tax code for large corporations like Amazon and Space X compared to small businesses, to whom saving money and cash flow are of paramount importance.

Donna introduces specific examples of how she navigates communicating with clients and offers strategies for identifying transactions, like using a SharePoint folder to upload receipts.

They share insights on how aspiring entrepreneurs can start an accounting business, a bookkeeping business, or a tax business, and highlight the importance of learning bookkeeping online and taking online tax courses.

Donna explains the importance of taking a step back from the business and trusting your employees to handle business on their own when personal or family issues require attention outside of the business.

Notable Quotes from this episode:

“I've been reading a lot in the industry news that there's a real shortage of accountants and accounting professionals. I know everyone has a hard time finding employees because no one really wants to go into the field or they think that we're all going to be replaced by AI. I don't see that happening. There's too many judgment calls and accounting.”

“I saw firsthand how entrepreneurship really is the backbone of America… I think that's what really drove me to choose the very small businesses as a niche.”

“I know a lot of big businesses are really, really pushing a return to the office and I think those are going to be the ones that get left behind.. I think working from home, remote work is an expectation now.”

“The most common misconception is that I'm a CPA. I am not. I have a bachelor's in accounting and I have an MBA, but I have never fulfilled the requirements to have a CPA license and I don't need it. I don't do auditing and I don't work with publicly traded firms, so why go to all that trouble?”

“The client, they don’t know what they don’t know. We have to be very upfront and tell them, we need these bank statements and this bank access from this date to this date, we need these receipts. And this is why.”

Join Roger and Donna in this thought-provoking discussion as they highlight the momentous opportunity that exists for accounting professionals with an entrepreneurial spirit. Discover the ability that anyone with a basic understanding of accounting has to help business owners in their community with their books. If you're considering starting an accounting business, a bookkeeping business, or a tax business, or if you want to learn bookkeeping online and explore online tax courses, this episode is packed with valuable insights for aspiring entrepreneurs.

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:

• “in the BLACK, nine principles to make your business profitable” – e-book

• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – the how-to-guide e-book for accounting professionals

It’s time to also work ON your business, to start and build the premier accounting business in your area. Take advantage of this opportunity to access this free course now and see what steps you can take to be in business for yourself but not by yourself with Universal Accounting Center. Get the Turnkey Business Plan for accounting professionals HERE now!

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback

For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

Join us this Wednesday for a new episode where Roger discusses work life balance and setting boundaries with Donna Harris.

Welcome to Building the Premier Accounting Firm, where we dive deep into the entrepreneurial journey of accounting professionals, sharing insights and strategies for building a successful accounting firm. In this episode, Timothy Wingate, founder and president of G+F Business & Financial Consulting, shares his personal experiences and the lessons he’s learned along the way. Here’s what you can expect from today’s enlightening discussion:

• The Backbone of Support: Discover how Timothy's wife provided an unwavering foundation of support throughout their entrepreneurial path, highlighting the crucial role that family plays in the success of a business venture.

• Faith and Connections: Learn about the significance of faith and human connections in business, and how these elements can influence not only the business owner but also the trajectory of their enterprise.

• Accounting Evolution: Dive into the changing landscape of the accounting industry. Timothy and Roger emphasize the importance of adapting to new trends by offering higher-value services and taking a more strategic approach to traditional practices.

• Finding Your Niche: Hear why specializing in a niche market can be a game-changer for your business, allowing you to differentiate yourself from the competition and provide targeted value to your clients.

• Universal Accounting Center: If you’re considering starting your own business or want to enhance your entrepreneurial skills, Timothy recommends exploring the resources available at the Universal Accounting Center.

Remember to subscribe to our podcast for more valuable discussions like this one, and if you enjoyed the episode, please leave us a review!

Thank you for tuning in to Building the Premier Accounting Firm, where we bring you the wisdom of seasoned entrepreneurs to help you on your journey to success in the accounting industry. Until next time, keep forging connections and stay strategic in your ventures.

Your Host:Roger Knecht, president of Universal Accounting Center

Guest Name: Timothy Wingate, EA

Timothy Wingate Jr. is the founder and president of G+F Business & Financial Consulting. He is a licensed Enrolled Agent and construction accountant. In May 2016, he founded G+F, recognizing the need for specialized accounting and tax services for construction companies.

Many construction businesses struggle to bridge the communication gap between their work in the field and their back office. With first-hand knowledge of the construction industry and a deep understanding of taxes and finances, Timothy provides tools, advice, and financial guidance to his clients so they better understand their finances and improve their cash flow.

Timothy is a QuickBooks Online Certified ProAdvisor and was a member of the Intuit Tax Council from 2019 to 2022. He earned a bachelor’s degree in business administration with a concentration in finance from the University of South Florida. He is also a member of the Construction Financial Management Association.

Timothy worked for many years with his father, a licensed general contractor since 1984, giving him plenty of first-hand knowledge of the construction industry.

Timothy lives in West Palm Beach, Florida, with his wife and three sons. There he also served as a chief operating officer and chief financial officer for a long-standing nonprofit.

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:

• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses.

• “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles.

• “Your Strategic Accountant” - Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions.

• “Your Profit & Growth Expert” - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve.

Learn what it is you can do to become an author, leveraging your expertise to market effectively your services and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.

In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It’s here you can become a:

• Professional Bookkeeper, PB

• Professional Tax Preparer, PTP

• Profit & Growth Expert, PGE

Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company’s Value.

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback

For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

Join us this Wednesday for a new episode where Roger discusses building your accounting firm from the ground up and pivoting with Timothy Wingate.

Welcome to another episode of Building the Premier Accounting Firm with Roger Knecht, the go-to podcast for accounting business owners looking to scale their businesses and expertise. In this episode, we dive into the remarkable success story of visionary James Donovan that demonstrates the transformative power of fractional CFO services and strategic networking.

Main Themes:

• The Impact of Fractional CFO Services: Roger and James explore how the implementation of fractional CFO services contributed to a substantial increase in one of James’ client’s recurring revenue—by $40,000 over just six months. James details the key strategies in the process that led to substantial results.

• The Flexibility of Remote Work: James shares his personal experience with remote work, illustrating how it has facilitated the ability to travel and manage a successful business simultaneously. This segment will inspire you to consider the potential of remote work for your own business.

• LinkedIn as a Business Development Tool: Discover why LinkedIn, and particularly the Sales Navigator feature, is a crucial tool for connecting with potential clients. Our guest breaks down their daily 30-minute strategy for using Sales Navigator to secure high-quality appointments and how you can do the same.

• Promotional Insights: Roger and James extend an invitation to engage with resources that can drive your growth. We encourage listeners to subscribe to the podcast for more insights and to access complimentary resources designed specifically for accounting professionals.

Key Takeaways:

• Understanding the role and benefits of a fractional CFO.

• Learning how to effectively utilize LinkedIn’s Sales Navigator to expand your client base.

• Exploring the advantages of remote work in today’s business landscape.

• Gaining insights into valuable resources and events for accounting professionals.

Call to Action:

• Don’t miss out on leveraging these insights for your business. Subscribe to our podcast, check out the resources mentioned, and consider attending GrowCon for an experience that could redefine your professional journey. Call 877-801-8080 to get started on your journey, or to explore ways to train your staff and expand your firm.

Your Host: Roger Knecht, president of Universal Accounting Center

Guest Name: James Donovan

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

For more information regarding James' services: https://ninetwomedia.com

Helping firms offering Fractional CFO/Tax Plans generate exclusive leads & qualify those leads for quality appointments. We charge a flat fee of $2k/m, and conservatively generate 8-12 leads per account every month.

https://ninetwomedia.com/linkedinagreement-2108

In addition to speaking with James be sure to also check out this recent webinar that addresses how we can best leverage our online presence to get the clients we deserve. From Lead Flow to Automating Processes - this is a don’t miss presentation. CLICK HERE to see what you can do to position yourself online to get the clients you deserve: https://getclients.universalaccounting.com/uac

Learn what it is you can do to become an author, leveraging your expertise to market effectively your services and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.

In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center.

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback

For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

In this insightful episode of the podcast, Roger sits down with Michael Rozbruch, a seasoned CPA and certified tax resolution specialist, who shares his personal journey into the field of tax resolution. Drawing from his experiences, Michael discusses the importance of professional guidance when dealing with the IRS and sheds light on the following key themes:

• Empathy in Taxation: Michael’s motivation is deeply rooted in the struggles he’s seen ordinary Americans face when up against IRS actions. His empathy for those in tax distress drives his work and advocacy.

• The Complexity of Tax Issues: From back taxes to audits and payroll dilemmas, Michael underscores the intricate and often intimidating process of resolving tax problems with the IRS, highlighting why expert assistance is critical.

• Professional Expertise: The conversation delves into the significance of tax resolution specialists like EAs, CPAs, and attorneys. With limited IRS training for the public, the knowledge and skill of these professionals become invaluable.

• Tax Relief Intricacies: Michael discusses the nuances of tax relief, giving listeners a glimpse into what goes on behind the scenes when negotiating with the IRS.

• Professional Fees: Understanding how to price services is vital. Michael breaks down payment structures for tax professionals and why investing in such services can be beneficial.

• Advertising Your Services: The episode touches on the benefits of marketing tax resolution services to reach those in need.

• The Enrolled Agent Advantage: With the IRS’s new penalty relief initiative, Michael points out the increased business potential and advantages of becoming an Enrolled Agent.

• Future Challenges: The discussion raises concerns about the complexities that may arise in 2024 due to the IRS’s access to taxpayer information through stimulus payments.

• Educational Opportunities: Michael promotes a two-hour masterclass on tax resolution services and encourages listeners to deepen their understanding of the field.

• Grow Con and Additional Resources: The episode also mentions Michael’s commitment to helping others through the upcoming event called Grow Con and directs listeners to the Universal Accounting website for a podcast episode featuring a panel of accounting, bookkeeping, and tax business experts.

Listeners are encouraged to check out the full episode for a more comprehensive exploration of these themes and to gain access to valuable resources and insights for tackling tax challenges with confidence.

Resources Mentioned:

• Michael Rozbruch’s Masterclass on Tax Resolution Services

• Grow Con Event

• Universal Accounting Podcast

Your Host: Roger Knecht, president of Universal Accounting Center

Guest Name: Michael Rozbruch

Michael Rozbruch, CPA and Certified Tax Resolution Specialist, a pioneer in the tax resolution industry, has a proven “in-the-trenches” track record as evidenced by accumulating 168 month-over-month consecutive revenue growth culminating in $23 million in revenue in just one year alone.

Michael is a nationally recognized entrepreneur and is the founder of Roz Strategies® and Michael Rozbruch’s Tax and Business Solutions Academy®, an eLearning, training and coaching services company that trains and helps CPAs, Enrolled Agents and Attorneys build highly profitable practices through proven marketing systems and strategies. But he doesn’t stop there. He also trains on how to “close” the sale, manage the client relationship and knows firsthand how a best practice IRS Problem client niche practice should be run and operated.

Standing alongside Michael to help you be as successful as possible with your own tax resolution business is the Roz Team—Roslyn Rozbruch, Becky Stephens, John Israelian, Ruthie Ponce, and Karen Hood. Read on to learn more about how each team member makes it their goal to make life in your practice a little easier—and a lot more profitable!

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

Free 2-hour Master Class on Marketing Sales and more as it relates to Tax Resolution

https://www.rozstrategies.com/

And

Learn more what you can do to offer Tax Resolution Services with Michael’s help, take advantage of this opportunity to participate in a 5-Day to $5K Tax Resolution Challenge: https://zc158.isrefer.com/go/resolution/uacct/

Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:

• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses.

• “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles.

• “Your Strategic Accountant” - Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions.

• “Your Profit & Growth Expert” - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve.

Learn what it is you can do to become an author, leveraging your expertise to market effectively your services and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.

In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It’s here you can become a:

• Professional Bookkeeper, PB

• Professional Tax Preparer, PTP & an Enrolled Agent, EA

• Profit & Growth Expert, PGE

Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company’s Value.

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback

For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

Join us this Wednesday for a new episode where Roger discusses tax resolution with Michael Rozbruch.

In this informative episode, Roger delves into the strategies for minimizing capital gains taxes with Sally Gimon, a seasoned real estate investor and tax specialist. Sally provides valuable insights into the world of tax planning for investors and underscores the importance of understanding and utilizing the legal avenues the IRS provides to reduce tax burdens.

Roger and Sally break down the common hurdles real estate investors face regarding capital gains, such as recognizing gains, handling tax liabilities, and how to navigate the stress of meeting tax payment deadlines.

They shine a light on the benefits of 1031 exchanges and trusts as effective methods to legally reduce capital gains taxes and preserve cash flow.

Sally discusses the implications of new legislation requiring detailed personal information filings for business entities, known as the Corporate Transparency Act of 2024, a development that can significantly affect real estate investors and businesses.

Roger and Sally emphasize the urgency for investors to understand the upcoming deadline for certain types of trusts and the potential tax implications.

The necessity for skilled accountants to navigate these changes and assist clients with compliance is a key point of discussion in the episode.

Sally also invites bookkeeping, accounting, and tax professionals to attend GrowCon, a conference dedicated to business development in these fields, and offers valuable resources on tax strategies.

Sally’s expertise is invaluable for anyone looking to enhance their understanding of tax planning within the real estate investment sphere. Her practical advice and the upcoming conference are not to be missed by professionals seeking to stay ahead in the industry.

Remember to subscribe and tune in for our next episode where we continue to dive deep into the world of savvy accounting practices and strategic financial planning.

Your Host: Roger Knecht, president of Universal Accounting Center

Guest Name: Sally Gimon

Sally was motivated to become a real estate investor when her mom became sick in October 2018. Sally was 53 and needed to make a change in her life quickly. She has been an insurance agent for 20 years and has used her experience to make positive changes. Now she shares her information weekly in her real estate group and Win, Win Women TV.

In July 2020 she bought a Bank Owned Property for $20,000 that would go to auction for $50,000 when Covid restrictions lifted. She knew her Capital Gains would be $7,140 and researched how the rich paid so little in taxes. This led her to find the Business and Beneficial Spendthrift Trusts.

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

Thanks for listening to the show. Sally was kind enough to offer her time. If you have any questions or would like to receive some additional information please take advantage of a 30-minute tax breakthrough season with her. Go to her website to see a related video and book time to speak with her one-on-one: www.TheTrustIsYou.com

Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:

• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses.

• “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles.

• “Your Strategic Accountant” - Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions.

• “Your Profit & Growth Expert” - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve.

Learn what it is you can do to become an author, leveraging your expertise to market effectively your services and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.

In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It’s here you can become a:

• Professional Bookkeeper, PB

• Professional Tax Preparer, PTP

• Profit & Growth Expert, PGE

Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company’s Value.

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

Listen to our next episode and be sure to subscribe.

Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback

For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

Join us this Wednesday for a new episode where Roger discusses the Spendthrift Trust with Sally Gimon.

In this episode of the podcast, host Roger Knecht engages in a dynamic conversation with Dave Willson, Founder and CFO at ProvenCFO. Together, they dive deep into the many paths professionals take on the way to learning the language of business, proven strategies for providing quality CFO/advisory services and the importance of social responsibility for entrepreneurs.

Highlights:

Roger and Dave walk back through Dave’s journey into the world of accounting and eventually entrepreneurship. Dave always had an interest in the “language of business”, despite failing an accounting exam in school due to a difficult teacher.

Dave discusses immigrating to America and completing his bachelor’s in accounting. While he had an offer on the table to join Deloitte, he elected to work with his brother in banking.

Dave explains how he and his brother eventually started an accounting business, and the value Dave saw in providing advisory services at the firm after his experiences working in banking, real estate and other industries.

The origin of ProvenCFO is covered and Dave explains challenges the company has navigated as it has grown, including during COVID.

Roger and Dave dive into the role an advisor should play in giving practical recommendations to business owners – when to hire an employee, how to manage cash flow, whether or not to offer benefits and more.

They highlight the massive opportunities that come with offering advisory services in terms of pricing. Dave notes that his company sometimes charges a cleanup or set up fee when working with companies who need bookkeeping help before advancing to the growth stage.

Dave explains the value ProvenCFO has found in working with a broad range of clients in terms of industry and stage of business. The company has had a lot of success working with startups and creating financial models for companies with seed money.

Roger learns about Dave’s childhood in South Africa and how carrying forward the culture of camaraderie present there has been a guiding principle for him as an entrepreneur.

They discuss the value of empathizing with employees and feeling responsible for their well being, as well as the power of creating a company that employees enjoy participating in.

Notable Quotes from this episode:

“We figured out [when it comes to starting a business] it only takes one. You only need to be successful once. You can fail as many times as you want. It doesn't matter. It only takes one… As long as you don’t eat up your earnings.”

“We don't have a hard and fast set of rules that we make our CFOs follow. It's just to make sure that you're visiting with [the client] and providing them advice.”

“Entrepreneurs are crazy. We're crazy people. I recognize that. It probably all sounds insane”

“And the advisory that we give to our entrepreneurs is very similar. It's like, ‘Okay, you need to be mindful of the fact that you might be sitting on 80 % equity and you want everyone to work as hard as you, but just keep in mind that they don't have 80 % equity. And when this company sells and you make a bajillion dollars, they're not, right? They're going to be sitting here still working.”

“I think we just need to approach capitalism while being mindful that there are those that aren't going to be able to be entrepreneurial.”

“We need to discuss what are all the consequences of some of the decisions that we're making in our own companies and how it impacts our clients, our employees, our families. It's a narrative that I think needs to be discussed because many of us are very fortunate in the fact that with our entrepreneurial spirits we're willing to take risks where we're to put ourselves out there. And with that, there should be a reward. But at the same time, we've got to acknowledge the fact that people are working hard around us and making things possible. And we appreciate that.”

Join Roger and Dave in this thought-provoking discussion as they highlight the opportunity and responsibility that exists for CFO/Advisory professionals. Discover how to customize your advisory approach to each client, and the importance of maintaining a passionate group of employees. If you're considering starting an accounting business, a bookkeeping business, or an advisory business, or if you want to learn bookkeeping online and explore online CFO courses, this episode is packed with valuable insights for aspiring entrepreneurs.

Your Host: Roger Knecht, president of Universal Accounting Center

Guest Name: Dave Willson

Sponsors:

Universal Accounting Center

• Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.

Offers:

Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant’s library to provide quality CFO & Advisory services as a Profit & Growth Expert today:

• “Red to BLACK in 30 days – A small business accountant’s guide to QUICK turnarounds” – the how-to-guide e-book for accounting professionals

• “in the BLACK, nine principles to make your business profitable” – e-book

Learn what it is you can do to become an author, leveraging your expertise to market effectively your services and get the clients you deserve. This is a webinar you don’t want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes.

In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we’ve identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center.

For Additional FREE Resources for accounting professionals check out this collection HERE!

Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don’t want to miss.

Remember this, Accounting Success IS Universal.

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For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777