strategy

5 ways to be prepared.

by jody padar
the radical cpa

a cch white paper, “charting a course for the future: a report on firm preparedness,” defines some of the trends that will have the most significant impact on accounting firms and their customers over the next five years.

more on radicalism: 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

the study also notes how well-prepared accountants are to take advantage of these trends. by putting the “very prepared” firm under the magnifying glass, the report examines what makes firm owners confident about the future.

free instant download:
report on firm preparedness

the most important take­away is that firms that feel more prepared for the future report that they are more productive and more profitable today. read more →

are you guilty of random acts of consulting?

by jody padar
the radical cpa

to me, the most trusted business advisor is the small busi­ness advisor. that’s what my customers see. my firm serves small businesses from the ground up to $10 million. yes, we look at their numbers, but practically speaking one gains a lot when you’re in their financial underwear drawer.

most of our conversations are around their questions. it’s a natural extension of the work we already do – financials, taxes, payroll, cash flow and forecasting.

more radical cpa: 5 radical transparencies; are you ready? | 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

these people are not asking complex tax questions. they’re asking about it, human resources, general licensing and for help with some decision-making. we’re small business consul­tants.
read more →

plus 4 questions as you shift from number cruncher to advisor.

by jody padar
the radical cpa

aside from creating a new way to do compensation and work, the “new firm” model brings upon a whole new level of trans­parency for both the customers you work with and your employ­ees.

more on radicalism: 4 questions radical firms must face | being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

1. data is changed in real time. no longer can you say that you never got that fax or email.
2. more clarity in communication and expectations is required.
3. what you communicate and how you deliver these communications will materially change, which calls for better monitoring of how team members communicate as well.
4. communication tools will vary. are you using email, phone, videoconference, in-person, text or facebook?
5. how will you feel about your employees having transparent communications with firm customers and, more important, how is all this communication shared internally?

here are just some of the things that shift: read more →

embrace the laws of disruption.

by jody padar
the radical cpa

with revolutionary change, comes disruption. you knew that, right? the three laws of disruption say that:

1. disruption comes to us all. so, if you’re reading this, you’re going to be disrupted. congratulations, that’s a good thing!
2. disruption comes because of changes in the product-market fit.
3. there are only three methods to change the product-market fit.

more on radicalism: being radical is all about your customer | being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

read more →

think in a new way, starting now.

by jody padar
the radical cpa

once you begin brainstorming about your new processes, you need to think about it from as many different viewpoints as possible, with an emphasis on design thinking. the easiest way to define design thinking is to look at it from your customer’s perspective instead of yours.

more on radicalism: being radical starts with being the change | why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

it’s not all about you. i know, i know. but hear me out. it’s hard to look at your firm from a customer’s perspective. that’s why we gravitate to a firm-centric point of view. this point of view asks questions like:

• what do we sell customers?
• how can we reach customers?
• what do we need to establish with our customers?
• and how can we make money from our customers?

we’re think­ing about ourselves internally. nobody wants to hang out with someone who only thinks of themselves, yet that is the way we run our firms.

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here are the questions you need to ask.

by jody padar
the radical cpa

“say it with me now: i am a change agent.”

before you consider adopting the cloud or any of the “new firm” mindset, you have to ask yourself if you are willing to be the change.

more on radicalism: why start being radical now? | going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

once you decide, first things, first. own it! you have to commit. if you teeter it will be harder. jump in feet first and feel the shock of the cold water. i’m not saying it won’t work if you wade in, i’m just saying it’ll be more of a challenge.

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your competition can come from anywhere now.

by jody padar
the radical cpa

i’ve been in the cloud for eight years so it’s old news to me.

the biggest thing to do is to look around and look at the competi­tion. you can probably leave your firm and start your own firm with less than $400 a month in software and without or very limited overhead. isn’t that terrifying for you old-timers!

more on radicalism: going radical: the 4 tenets of a ‘new firm’ | why should cpas be radical? | the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

that’s what the next generation of accountants has at their disposal. and they are doing it whether it’s good or bad, whether they have the experience or not. they are opening their own accounting firms. the times they are a-changin’. read more →

the alternative is complacency. we all know where that leads.

by jody padar
the radical cpa

cpas must be “radicalized” so they cannot be lulled into com­placency and driven by reaction to their current firm or live­lihood. the changes that are happening in today’s fast-paced world need to be addressed.

more on getting radical: the roots of ‘radical’ cpas | the first 3 questions i should have asked before starting my own practice

you and your team have already felt the changes. the silent majority of many employees are hurt, suspicious and feeling unheard. they see and experience the changes happening around them and don’t understand the complacency or the resistance to change from firm management. you may even be feeling this yourself within your firm of one.

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