Episódios
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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.
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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.
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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.
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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!
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In this episode of The Practicing Accountant, Doug and Dan dive into why losing clients can be the best thing for your business. Doug shares a story of a client who was overwhelmed with too many low-paying, non-ideal clients. By firing a portion of them, the client freed up space, brought on better clients, and increased revenue, ultimately transforming his business. They emphasize the importance of cultivating a client list by letting go of clients that don't align with your niche or don't pay well, resulting in a better experience for both your team and your clients.
The guys add that regularly reviewing your client list and adopting a "one in, one out" approach helps keep your business focused on high-value clients. They also discuss the positive impact firing bad clients can have on staff morale and how doing so builds trust and credibility within your firm.
For more resources and insights, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan discuss how raising prices can lead to happier clients and a more rewarding firm experience. By offering different service tiers—ranging from low-touch to highly customized high-touch packages—accountants can provide more value, strengthen client relationships, and increase revenue. They emphasize the importance of having a clear, compelling offer that resonates with clients and allows firms to focus on providing better service to fewer clients.
For more resources and insights, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan discuss how reducing the number of clients can lead to a better experience for both accountants and their clients. They explore how overloading on clients diminishes the quality of service, leading to transactional relationships and missed opportunities. Drawing parallels to the iconic "Jerry Maguire" moment of prioritizing fewer clients with more personalized service, Doug emphasizes the importance of building meaningful relationships and providing higher value.
By setting clear expectations and creating a tiered service model, firms can charge higher prices, deliver better service, and increase client retention. The episode highlights how improved client service can generate referrals, create more opportunities for cross-selling, and allow firms to become more sustainable. They also discuss how offering a premium client experience transforms a practice into a lifestyle firm rather than an overwhelming, transactional operation.
For more resources and insights, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan dive into the importance of networking strategically rather than just networking more. Doug shares his journey of realizing that simply attending more meetings wasn’t productive and highlights the need for a focused approach. He introduces a three-question filter to ensure networking efforts are worthwhile: is the person a prospect, do they know prospects, or can you learn from them? They also discuss the concept of "niche-working," which focuses on networking within a specific niche to target the right people and make connections that matter.
Additionally, Doug emphasizes the value of using a CRM or spreadsheet to track networking efforts and ensure consistent engagement with key contacts. By being intentional with networking, accountants can save time and create stronger, more meaningful connections that lead to business growth.
For more resources and insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan explore how focusing on your service offerings can significantly increase your firm’s capacity, revenue, and overall efficiency. They discuss the importance of intentionally designing your business model, much like drafting a fantasy football team, to ensure you’re leveraging the right resources and staff in the most effective way possible.
They highlight the value of outsourcing, offshoring, and leveraging non-billable roles like virtual assistants and project managers to free up CPAs from low-value tasks. Additionally, they emphasize how narrowing down your service offerings to the most profitable and high-margin services can help grow your firm sustainably, improving both client satisfaction and your own work-life balance.
For more resources and insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Dan and Doug explore the concept of building a better business model for accounting firms. They discuss the importance of being intentional about how your firm operates, including client selection, service offerings, and overall business structure.
The conversation highlights the risks of maintaining an unintentional or reactionary business model, which can lead to taking on the wrong clients and experiencing burnout. Doug emphasizes the need for a well-defined business model that aligns with your firm's vision and values, allowing for a more sustainable and enjoyable practice. By being selective and intentional, accountants can avoid the pitfalls of a default business model and create a more fulfilling and profitable experience.
For more resources and insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Dan and Doug discuss essential strategies for surviving the busy season. They focus on the importance of setting personal minimums, such as maintaining health routines and prioritizing family time, even during the busiest times.
They also emphasize starting and ending each day with intentional practices like gratitude and focusing on a single important task. Lastly, they explore the concept of Parkinson's Law, which warns that work will expand to fill the time allotted, urging listeners to avoid letting work spill into weekends unnecessarily. By establishing boundaries, being intentional, and staying aware, accountants can maintain a healthier balance during peak seasons.
For more resources and insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan discuss the key difference between capacity and utilization in accounting firms. They highlight how traditional focus on utilization can make accountants feel like mere tools, while embracing capacity opens up opportunities for growth, efficiency, and personal fulfillment.
They emphasize the importance of celebrating and intentionally using capacity to drive innovation and achieve a more balanced work-life experience. Shifting focus from filling hours to creating valuable capacity is essential for long-term success.
For more insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan dive into the importance of intentional growth in accounting firms, emphasizing the mantra "growing slow is the fast track to success." They explore the difference between rapid, unintentional growth and the benefits of slowing down to build a more sustainable, profitable practice.
They share insights on how being selective about clients, pricing, and service offerings can lead to a smoother, more enjoyable experience. By taking time to refine your vision, define your ideal client, and plan for long-term success, accountants can avoid the pitfalls of the traditional "hamster wheel" and create a practice that truly serves them.
For more resources and insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan dive into the chaos of the extension season, focusing on the challenges and lessons to be learned from the upcoming September 15th deadline. They discuss the importance of capturing the current experience—whether it’s workload, client readiness, or personal stress levels—to improve the process for the following year.
They emphasize the need to observe and document what’s happening now, so it can serve as a guide for making next year’s tax season smoother and more efficient. From tracking hours to client communication, the hosts offer practical advice on how to manage the busy season better and set up your practice for future success.
For more resources, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan discuss the importance of creating a vision for your firm rather than simply setting goals. They highlight how goals, without a clear vision, can trap you in a never-ending cycle of busy work without meaningful progress. The conversation covers how a strong vision should guide your goals, tactics, and daily tasks, ensuring that every action you take moves you closer to your desired future, both professionally and personally.
Whether you're aiming to be the top expert in your niche, seeking a balanced lifestyle, or wanting to build a more fulfilling practice, this episode provides practical advice on how to reverse engineer your vision into actionable steps.
For more insights, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan discuss the crucial but challenging task of firing your worst clients to improve your business. They highlight how difficult clients can drain your energy, reduce profitability, and negatively impact your overall practice.
The hosts share a straightforward method to identify these problematic clients and offer tips on how to let them go professionally. By clearing out clients who don't fit your ideal profile, you can create more space for profitable and fulfilling work.
For more resources, visit www.thepracticingaccountant.com. Don’t forget to like, share, and subscribe!
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In this episode of The Practicing Accountant podcast, Doug and Dan dive into the counterintuitive idea that saying "no" can actually lead to more profitable clients and a better business model. They discuss the importance of niching and how it can help you focus on the most lucrative and enjoyable work.
Doug and Dan break down the concept of identifying your ideal client and the benefits of specializing in a particular industry or service. They emphasize that while it may seem like turning away business, saying "no" helps create space for the right clients who are willing to pay for your expertise. This approach not only leads to higher profitability but also allows for a more streamlined and efficient operation.
They offer practical steps for analyzing your current client base, identifying patterns, and determining the most profitable areas to focus on. The episode highlights the importance of being intentional with client selection to build a firm that supports the lifestyle you want.
For more resources and to learn about the benefits of joining The Practicing Accountant community, visit www.thepracticingaccountant.com. Don't forget to like, share, and subscribe!
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In this episode of the Practicing Accountant podcast, Doug and Dan dive into the fall roadmap for accountants, focusing on how to navigate the busy extension season while preparing for the next tax season. They discuss the importance of managing the "people pleaser" tendency to avoid overcommitting, putting self-care first, and strategizing effectively. The conversation highlights the need for intentionality in client selection, setting boundaries, and planning for future growth. By creating a detailed action plan starting after the October deadline, accountants can optimize their capacity, improve client relationships, and enjoy a more balanced and fulfilling professional life. Visit www.thepracticingaccountant.com for more.
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In this episode of The Practicing Accountant podcast, Doug and Dan explore effective strategies for attracting new clients. They begin with a light-hearted discussion about movies and the unique experience at Alamo Drafthouse, then delve into three main client acquisition methods: networking, creating an audience, and delivering exceptional client service.
They emphasize the importance of choosing a business development approach that aligns with your interests and can be consistently applied. Doug shares practical advice on how to track the effectiveness of these efforts, ensuring you're not just busy but also productive in growing your firm. Whether you're just starting or looking to refine your client base, this episode provides valuable insights to help you attract the right clients and enjoy your work more.
Visit www.thepracticingaccountant.com for more resources and details on membership benefits. Don't forget to like, share, rate or subscribe!
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In this episode of the Practicing Accountant podcast, Doug and Dan discuss how to enhance client retention by creating memorable experiences that encourage clients to brag about your services. They emphasize the importance of intentionality in customer service, sharing personal examples, including standout experiences with Disney and a Disney travel agent, to illustrate how exceptional service can lead to loyalty, higher pricing, and client referrals. The conversation highlights the need for proactive, rather than reactive, client interactions and offers actionable tips for improving client satisfaction. Visit www.thepracticingaccountant.com for more insights.
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