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TitreDateDurée
How to Behave Like a Business Owner with Chris Papin09 Dec 202500:52:06

Being the boss doesn’t automatically make you a business owner. Running a business requires you to think differently, act strategically, and lead with clarity.

Chris Papin, CPA, Attorney & Business Advisor at Papin Speaks, talks about what it really means to behave like a business owner. From facing hard truths about failed marketing to balancing emotional attachment with accountability, Chris shares how small business owners can shift their mindset and take ownership at a higher level. He breaks down how to build processes, set priorities, make tough calls, and communicate with more intention. This is a must-listen for anyone feeling overwhelmed by the day-to-day and ready to get back in control. Tune in to the full episode here: ▶️ "Chris Papin and how to "Behave Like a Business Owner"

Episode resources:

● Website: https://anderscpa.com/ 

● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com 

● Check out the Virtual CFO Playbook Course:  

https://anderscpa.com/virtual-cfo-services/vcfo-playbook/   


Quotes

  • Chris Papin: "Many owners default to what feels easy or fun, but behaving like a business owner means facing hard truths and making disciplined decisions."
  • Tom Wadelton: "The phrase 'financially speaking' helps ground tough conversations in facts. When clients resist hard decisions, math makes the reasoning clear and harder to dispute."
  • Adam Hale: "Managing difficult conversations is something people only learn after doing it poorly. Avoiding direct conversations always comes back later."

Chris Papin is a licensed Attorney and Certified Public Accountant based in Oklahoma, specializing in advising closely held businesses and their owners. With a dual focus on legal structure and financial health, he guides entrepreneurs through startup formation, business development, and strategic tax planning. Chris brings a unique perspective to client advisory by helping business owners think and act like true operators, not just service providers. As a trusted advisor, Chris empowers business owners to behave like CEOs and lead with clarity.

Website: https://www.papinspeaks.com/  

LI: https://www.linkedin.com/in/chrispapin/ 

https://www.linkedin.com/company/papin-speaks/   

The Modern CPA Success Show is the go-to podcast for accounting firm owners eager to enhance profitability and master Virtual CFO services. This podcast leverages combined expertise in delivering top-tier Virtual CFO services across North America.

Website: https://www.buzzsprout.com/2458888  

Facebook: https://www.facebook.com/AndersCPA 

LinkedIn: https://www.linkedin.com/company/anders-cpa/ 

Instagram: https://www.instagram.com/anderscpa/ 

YouTube: https://www.youtube.com/@andersvcfo 

Tom Wadelton is a Virtual CFO at Anders, bringing over 20 years of financial expertise from his tenure at a Fortune 500 company. He has exten

Recruiting for CPA Firms with Will Spengler13 Oct 202500:43:57

Bringing in the right people can transform your CPA firm. Hiring is a strategic move that drives your growth. If you're looking to make smarter hiring decisions, this episode is for you.

Will Spengler, founder of Frederick Fox, shares how his team finds strong controller and finance candidates in markets like Dallas, and what firms should do to stay competitive. You’ll get insights into how recruiting agencies work, what mistakes firms make when hiring, why public accounting backgrounds are still in high demand, and how remote work and compensation expectations are shifting the talent game. Tune in NOW! ▶️ Recruiting for CPA Firms with Will Spengler

Episode resources:

● Website: https://anderscpa.com/ 

● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com 

● Check out the Virtual CFO Playbook Course:  

https://anderscpa.com/virtual-cfo-services/vcfo-playbook/   


Quotes

  • Will Spengler: "Small CPA firms must weigh the opportunity cost of time when positions remain unfilled. The potential growth, efficiency, and profitability lost often outweigh recruiter fees."
  • Tom Wadelton: "Remote work is now a differentiator. Firms that remain flexible and open to remote arrangements have access to a wider pool of talent."
  • Adam Hale: "In recruiting for CPA firms, candidates with public accounting experience, particularly in audit, are often preferred since that background provides exposure to diverse industries and scenarios."

Will Spengler is a passionate leader in agency recruiting and the driving force behind Frederick Fox, a top-tier executive search community. As an innovator and entrepreneur, Will specializes in contractor solutions, direct hires, and retained executive search—delivering unmatched recruiting results for CPA firms and beyond. With a team of 45+ seasoned recruiters and over 610 active clients, he brings scale, speed, and strategy to every search. 

Website: https://frederickfox.com/   

FB: https://www.facebook.com/FrederickFoxGroup/    

LI: https://www.linkedin.com/in/william-spengler-2193433a/

https://www.linkedin.com/company/frederick-fox/  

The Modern CPA Success Show is the go-to podcast for accounting firm owners eager to enhance profitability and master Virtual CFO services. This podcast leverages combined expertise in delivering top-tier Virtual CFO services across North America.

Website: https://www.buzzsprout.com/2458888  

Facebook: https://www.facebook.com/AndersCPA 

LinkedIn: https://www.linkedin.com/company/anders-cpa/ 

Instagram: https://www.instagram.com/anderscpa/ 

YouTube: https://www.youtube.com/@andersvcfo 

Tom Wadelton is a Virtual CFO at Anders, bringing over 20 years of financial expertise from his tenure at a Fortune 500 company. He has extensive experience spa

Defining Service Packages: A Comprehensive Guide for Modern Accounting Firms11 Nov 202400:17:32

"If you want to understand your pricing, I need to know what your service packages are. If you want to understand how you're going to onboard a client, I need to know what your service package is." - Adam Hale


The finer details of this episode:
● Importance of service packages for accounting firms, focusing on clarity in offerings, pricing, and alignment with target client segments to enhance relevance and value.

● Structuring service packages using a "small, medium, large" model to cater to different client needs, manage resources, and improve client onboarding and communication.

●Overcoming challenges in creating service packages, including transitioning existing clients, ensuring pricing transparency, and utilizing technology like AI tools for development.

 

Episode resources:
● Summit Virtual CFO by Anders website: https://www.summitcpa.net/
● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com
● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/

 

Timestamps
Welcome to the Modern CPA Success Show (00:00:00)
Introduction to the podcast's mission and focus on innovative accounting insights.

Discussion on Service Packages (00:00:22)
Tom and Adam explain the importance of service packages for CAS and CFO services.

Clarity in Deliverables (00:00:50)
Emphasis on the need for clarity in service delivery through defined service packages.

Marketing and Client Attraction (00:01:51)
Aligning service packages with target client demographics for effective marketing.

Access and Time Considerations (00:02:46)
Discussion on the importance of access frequency in determining service package pricing.

Team Understanding of Packages (00:04:48)
How defined packages help team members understand client onboarding and service delivery.

Pricing and Scope Management (00:05:04)
The role of service packages in managing client expectations and pricing structures.

Refining Onboarding Processes (00:06:40)
Importance of revisiting service packages during onboarding to clarify responsibilities.

Promoting the Virtual CFO Playbook (00:07:02)
Advertisement for the Virtual CFO Playbook and its benefits for accounting firms.

Psychology of Package Creation (00:07:44)
Discussion on why many firms hesitate to create service packages and how to overcome this.

Overcoming Writer's Block (00:08:39)
Tom and Adam share insights on getting started with service package development.

Client-Centric Package Development (00:10:05)
Strategies for brainstorming and organizing service packages based on client needs.

Learning from Other Firms (00:11:05)
Encouragement to review other firms' packages for inspiration without copying directly.

Transitioning to New Packages (00:12:11)
Advice on implementing new service packages without alienating existing clients.

Testing New Packages (00:12:41)
The importance of prospectively evaluating service packages and client relationships.

Initial Pricing Transparency (00:13:52)
Benefits of presenting clear pricing options during the initial client call.

Utilizing AI in Package Development (00:16:13)
Exploration of using AI tools to brainstorm and refine service packages.

Continuous Package Improvement (00:16:47)
Encouragement to regularly update service packages to meet evolving client needs.

Closing Remarks (00:17:04)
Final thoughts on the importance of service packages and an invitation for further discussion.

Developing Systems to Scale Your Business with David Jenyns (Part 2)02 Jun 202100:31:34

“That's what systems do. They enable you to solve problems once, and then the business over can move over to the next problem which should be a higher level” - David Jenyns

 

The finer details of this episode 

  • The need for a Business Systems Champion in your organization
  • How systems shape business cultures
  • The impact and change systems bring to a business
  • Getting your teams onboard with changes in business systems

 

Episode resources

Developing Systems to Scale Your Business with David Jenyns (Part 1)17 May 202100:24:50

“All the business owners that I chat with, every single one of them, I don't think we'd ever had a discussion where we haven't come to the conclusion that business systems are important.” - David Jenyns

The finer details of this episode 

  • Why business systems are important
  • How SYSTEMology is different from process improvement practices
  • What business owners should do to get started
  • Key practices to adopt for better business systems

Episode resources

How Octavia Conner Made Her Clients Say Yes to Profits03 May 202100:25:21

"In order to generate profit the correct way you need to have cash flow in your business...So one of the ways that we help our business owners is that we tell them 'The ultimate goal is for you to say yes to profits.'” - Octavia Conner

 

The finer details of this episode 

  • Say Yes To Profit and Octavia's amazing backstory 
  • How she defined what needed to be done to scale her business
  • What challenges she faced and how she overcame it
  • Tried and tested tips to build your own VCFO services

Episode resources

How to Build a Flexible, Engaged, and Successful Workplace with Frank Cottle19 Apr 202100:33:57

"The one word that every major employer, or every major business, or governmental entity is using right now is agility. They started using that in 2017, 2018, 2019, they started using the word but they weren't taking action and that's the big difference” - Frank Cottle
 

The finer details of this episode 

  • Deep dive into the difference of the workforce through the years
  • What the new normal looks like for the workforce
  • Redefining the purpose of an office 
  • New workforce models and options for businesses

 

Episode resources

The Playbook That Inspired the Growth of Oberlander & Co.07 Apr 202100:29:52

"I feel like we're colleagues, so you know it's like a real firm and we work together and they help us a lot besides actually taking the course that has helped us a lot in setting the framework."- Jacob Oberlander

The finer details of this episode 

  • How the VCFO Playbook Course influenced Oberlander & Co.
  • Highlighting the practices that Oberlander & Co. adopted 
  • Importance of  implementing a solid Onboarding process and Pipeline Meetings
  • The Impact of Switching to Value-Based Pricing 

 

Episode resources

Show Less

Choosing Vendors with Jake Grimm29 Mar 202100:28:13

"In our industry, we're always looking at what can save time and what's not going to break down all the time” - Jody Grunden

The finer details of this episode 

  • Understanding your company's needs to find the right solution for you
  • How to choose the best vendor for your company
  • Things to consider before  saying "yes" to a vendor
  • How Summit CPA Group weeds out all proposals to find the best one

 

Episode resources

Adapting in the Age of Automation with David Bergstein15 Mar 202100:26:30

"I think the future of accounting is automation and advisory services." - David Bergstein

 

The finer details of this episode 

  • Understanding the importance of automation and innovation
  • Process of choosing the best platforms to automate processes
  • Why moving to the cloud is the way forward for CPA firms
  • How to add value through  advisory

Episode resources

Establish Smarter Ways of Working for you and your Clients with Bill.Com03 Mar 202100:28:56

Quote

"You have an opportunity to digitally transform your clients' life." - Pete Potsos

 

The finer details of this episode 

  • What is Bill.com?
  • How Bill.com  helped Summit CPA revolutionize their processes
  • Features  can help you and your clients
  • How you can improve your own practice using the Bill.com platform

 

Episode resources

Exploring Video Marketing Strategies to Grow Your Business15 Feb 202100:36:00

Quote

“If you want to be a big business that continues to grow with some scale, then you need to learn how to use these.” - Stephen Pope

The finer details of this episode 

  • How video helps you connect to your audience
  • Why it's important to incorporate a video marketing strategy into your social media and other marketing efforts in general
  • How to be comfortable in video
  • Tips on getting your very first video done

 

Episode resources

Financing with QuickFee03 Feb 202100:31:15

Quote

“One of the partners there was sharing that their firm no longer has an overdraft thanks to using our payment plans” - Bruce Coombes

 

The finer details of this episode 

  • What is QuickFee
  • What are the three payment solutions offered by QuickFee
  • Advantages of using QuickFee
  • How it helped firms collect payments faster
  • How QuickFee can help enhance your relationship with your client

 

Episode resources

Spooktacular Showdown: A Halloween Movie Draft Special31 Oct 202400:47:12

In this special episode of The Modern CPA Success Show, four speakers with Halloween-themed personas—Jamie Nightmare, Hannah Hexed Hood, Adam Haunted Hale, and Joey Killing Kenny—engage in a lively draft-style discussion about their favorite Halloween movies. Jamie, the enthusiastic host, sets the stage and outlines the draft rules. Hannah humorously admits her limited horror movie experience, while Adam and Joey share their deep knowledge and personal anecdotes. The conversation is filled with playful banter and passionate debates as they each select and defend their top horror film picks, creating an engaging and entertaining Halloween-themed episode.

The Future of Virtual CFO Services with Rick Telberg of CPA Trendlines04 Jan 202100:27:06

Quote

“If we write about what people are talking about, then people are going to talk about what we write about.” - Rick Telberg

The finer details of this episode 

  • How Rick curated his content for CPA Trendlines
  • Trends in the Virtual CFO space
  • What could potentially hold CPA firms back from going virtual
  • Why you should seriously consider offering VCFO work considering the current landscape
  • What type of firm is best for offering VCFO services
  • Benefits of hiring a project manager to do our client onboarding at Summit CPA

 

Episode resources

Deep Dive with Virtual CFO Client Casey Cobb of Ricochet Group21 Dec 202000:38:39

Quote

“Let’s build the plan and plug the engineers into the plan instead of the other way around.” - Casey Cobb 

 

The finer details of this episode 

  • How the beginning of this client relationship changed the way we pitched
  • Casey’s amazing backstory and how a virtual CFO was able to help him through challenging times
  • The 80/20 rule, Parkinson's Law, and how Casey implemented them into his business idea
  • How Casy found his blue ocean strategy

 

Episode resources

How To Hold An Effective Meeting with Tom Barrett07 Dec 202000:37:54

Quote

“A lot of meetings are ruled by too many subjective opinions and egos, so it’s important to bring in actual objective measures of progress.” - Tom Barrett

 

The finer details of this episode 

  • Where Summit CPA has been and where we are going with our meetings
  • What makes a good meeting
  • Why people hate meetings so much
  • How to prevent team members from being distracted during meetings
  • Healthy conflict and how that can be a good thing in meetings
  • Creating a meeting agenda and why that is absolutely necessary
  • The power in naming your meetings
  • The IDS structure and how you can use it to talk through issues
  • The role of meeting moderators and why you need one

 

Episode resources

The Importance of Team Retreats with Zach Montroy and Lillian Hocevar16 Nov 202000:36:02

Quote

“Taking this time and investment in your team will show dividends in the future.” - Zach

 

The finer details of this episode 

  • How to choose the right venues, restaurants, and activities for the group 
  • Tips for structuring the content of your company retreat 
  • Balancing team-building and business development activities 
  • Choosing the right location for your retreat 
  • The importance of working with the right team to organize your retreat 
  • Budgeting and forecasting to cover your retreat financially 

 

Episode resources

Getting the Right People into the Right Seats with Tom Barrett02 Nov 202000:30:52

Quote

“The key to keeping employees happy is to get the right people on the bus, the wrong people off the bus, and the right people in the right seats.” - Tom Barrett

 

The finer details of this episode 

  • How to keep your employees happy 
  • Using accountability charts to get everyone into “the right seat” 
  • Processes for transitioning and onboarding employees into their roles 
  • Making sure that everyone gets into seats that fit their strengths 
  • Seeing people’s potential for leadership or supervising 
  • Tips for the interview process to assess potential new team members 
  • The importance of solidifying your company values when it comes to getting teammates into the right seat 

 

Episode resources

  

Deep Dive with Virtual CFO Client Greg Bear of Bear Group19 Oct 202000:24:54

Quote

“We were growing, I was wearing a lot of hats, and I started to realize our finances should be doing better.” - Greg Bear 

 

The finer details of this episode 

  • How Bear Group got started and their experience as a remote company 
  • Their process of hiring a CFO 
  • How Summit CPA has helped Bear Group to uplevel their business 
  • New financial management tricks Greg learned during the onboarding process 
  • Bear Group’s financial workflow 
  • Factors that attributed to fast cash growth for The Bear Group 
  • What to consider if your business is looking to hire a CFO 

 

Episode resources

  

Small Business Loans06 Oct 202000:26:58

Quote

“I have the ability to play financial offense for clients, getting them the cash they need to continue to grow.” - Dan Kalis

 

The finer details of this episode 

  • How to create good relationships with your bank
  • Keeping your business in a good financial position
  • The three C’s of lending
  • The importance of building your business credit profile
  • What to do when you don’t have the capital to grow your business
  • When you should borrow from a bank and when you should go a different route
  • Creative ways to meet your business’s cash needs

 

Episode resources

Summit CPA employees Angie Douglas & Mikala Page talk about traveling while working remotely28 Sep 202000:28:20

Quote

“Scope out the wifi situation before you arrive somewhere. The worst workweeks have been when I had to use my phone hotspot to work.” - Mikala Paige 

 

The finer details of this episode 

  • Angie and Mikala’s stories and how they joined Summit CPA 
  • Tips for creating a remote/travel lifestyle 
  • Things to research before moving to a new location 
  • How Angie worked from a van 
  • Having a social life when you work remotely and travel 
  • Challenges and advantages of working remotely and traveling 
  • Equipment you will need for remote work 

 

Episode resources

Family Office Integration with VCFO Services with Michael Frost from Heritage14 Sep 202000:32:31

Quote

“You have four professionals under one roof, so if you can’t genuinely respect and understand everyone’s industry, you are going to have a hard time implementing family services into your office” - Michael Frost 

 

The finer details of this episode 

  • Why bringing in a family office may be a good compliment to what you are doing as a VCFO
  • Where to start with moving towards a family office 
  • The relationship the CPA firm has with the other professionals 
  • How building a family office creates a better client experience 
  • How professionals are able to serve each other within a family office 
  • Best practices for onboarding a client onto a family practice 
  • Questions to ask to determine if someone is going to be a successful partner 

 

Episode resources

EOS with Tom Barrett from Navigate the Journey31 Aug 202000:28:06

Quote

“The time you spend on EOS tools, you are going to save that time and more in the long run.” - Tom Barrett

 

The finer details of this episode 

  • How to determine if your organization needs EOS 
  • The process of implementing EOS 
  • Advantages of working with an EOS implementer 
  • The six key components of EOS 
  • Setting priorities using the EOS model 

 

Episode resources

How Client Accounting Services Are Redefining the Role of Accountants in Business Growth28 Oct 202400:21:13

"They swapped out ‘accounting’ for ‘advisory’ in CAS, but I still believe it’s 'client accounting and advisory services.' At scale, especially with small businesses, it’s hard to separate the two. You need a foundational understanding of their accounting model to help architect it in a way that truly tells their story." – Adam Hale

 

The finer details of this episode:

  • The shift from compliance work to advisory roles in accounting.
  • Differences between traditional accounting firm structures and mature CAS practices.
  • Importance of leveraging resources and delegating tasks within accounting firms.
  • Financial metrics and profitability considerations in CAS practices.
  • The concept of selling access rather than time in service pricing.
  • The role of regular meetings in managing client expectations and scope creep.
  • Adoption of a corporate-like structure for improved efficiency and adaptability.
  • The impact of a subscription model on client relationships and service delivery.
  • Strategies for accounting firms to remain competitive in a changing industry.


Episode resources:
● Summit Virtual CFO by Anders website: https://www.summitcpa.net/
● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com
● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/

 

Timestamps:
Welcome and Introduction (00:00:00)
The host introduces the podcast and its mission to provide insights for accounting firms.

Overview of CAS (00:00:22)
Tom and Adam discuss Client Accounting Services (CAS) and advisory services, highlighting their significance.

Defining CAS (00:00:46)
Adam explains the evolution of CAS from "Client Accounting Services" to "Client Accounting and Advisory Services."

Importance of Accounting in CAS (00:01:02)
Adam emphasizes understanding accounting models for effective advisory services, especially for small businesses.

Traditional vs. CAS Structures (00:01:52)
Discussion on differences between traditional accounting firms and mature CAS practices, focusing on corporate structure.

Leveraging Resources in CAS (00:02:06)
Adam talks about the importance of leveraging resources and delegating tasks for scaling CAS practices.

Transitioning from Traditional Models (00:03:29)
Tom shares challenges faced by accounting firms transitioning from traditional models to more scalable structures.

Financial Metrics in CAS (00:04:35)
Adam discusses financial metrics, contrasting traditional firm profitability with CAS models and their structures.

Understanding Profit Margins (00:06:19)
Tom and Adam analyze profit margins in CAS compared to traditional firms, aiming for higher profitability.

Building Client Relationships (00:09:24)
Tom highlights the importance of long-term relationships with clients for smoother operations and better service.

Delegation and Offshoring (00:10:06)
Discussion on the necessity of delegating work and utilizing offshore teams to enhance efficiency.

Measuring Performance in CAS (00:11:59)
Adam explains the shift from traditional hourly metrics to responsibility-based performance measures in CAS.

Book of Business Targets (00:12:57)
Tom and Adam discuss the importance of setting clear book of business targets for team members.

Compensation Structure in CAS (00:13:39)
Adam outlines how compensation structures differ in CAS, focusing on book of business rather than hours worked.

Efficiency Over Hours (00:16:32)
Tom advocates for valuing efficiency and client satisfaction over the n

Delegation Tips with Emily Morgan from Delegate Solutions17 Aug 202000:27:51

Quote

“We need to be committed to the boring stuff in our business because it is the backbone of how everything runs.” - Emily Morgan 

 

The finer details of this episode 

  • Tips for small businesses on delegating their admin tasks 
  • Advantages of having a virtual assistant 
  • How to start delegating some of your admin work in your business 
  • How to get comfortable letting go of tasks in your business 
  • What the day-to-day looks like working with a virtual assistant 

 

Episode resources

Client Spotlight with Matt Westgate of Lullabot06 Aug 202000:34:12

Quote

“Intentionally fostering serendipity in a distributed company will help keep isolation at bay.” - Matt Westgate

 

The finer details of this episode 

  • What brought Matt to Summit CPA 
  • Why Lullabot decided to become a distributed company 
  • The benefits of working with a distributed team
  • Maintaining company culture when your team is distributed
  • The evolution of the Lullabot leadership team 
  • How Matt pulled his company out of financial hardship 
  • Creating psychological safety in your company culture 

 

Episode resources

Special Guest Justin Hatch of Reach Reporting23 Jul 202000:29:24

Quote

“Every metric tells you what button you need to push to make yourself more profitable.” - Justin Hatch

 

The finer details of this episode 

  • What Reach Reporting does for its clients
  • How Summit CPA found Reach Reporting and why it is so important to us
  • Why visual, simple reports are such important tools for CPA firms
  • How you can get Reach Reporting set up in your firm

 

Episode resources

Cash Flow Tools with Justin Pulgrano of Finagraph07 Jul 202000:28:55

Quote

“Cash flow tools allow you to help every client with short term forecasting.” - Justin Pulgrano

 

The finer details of this episode 

  • Why cash flow is a critical piece of data to collect for your business
  • What makes Finagraph a great tool for measuring cash flow
  • What the setup of Finagraph looks like
  • The disadvantages of accrual statements
  • Why you should manage cash flow using a tool instead of a spreadsheet
  • What is next for Finagraph
  • Why cash is so important in these times

 

Episode resources

Onboarding a New Employee with Zach Montroy25 Jun 202000:24:11

Quote

“The three legs of the stool are culture, tech and tools, and client backgrounds.” - Adam Hale 

 

The finer details of this episode 

  • How to communicate your core values with a new employee 
  • The process for teaching new employees the tools and systems 
  • What the schedule looks like for a new employee during their first weeks 
  • Providing real-time feedback to new employees 

 

Episode resources

Hiring Assessments with Zach Montroy08 Jun 202000:26:52

Quote

 

“We are trying to learn about a candidate, know how they are going to fit into the culture, and know how they are going to do the job in a very small amount of time.” - Zach

 

The finer details of this episode 

  • How Summit CPA has struggled in the past with hiring 
  • The hiring assessments that Zach introduced to Summit CPA 
  • Why Emotional Intelligence is such an important factor in a potential employee 
  • How the EQ assessment works and how to read the results 
  • The Kolbe assessment and how to use it in your hiring process 

 

Episode resources

PPP Loan Forgiveness25 May 202000:17:40

Quote

 

“Don’t try to game the system with these. The government is going to be really scrutinizing the details with this.” - Jody Grunden

 

The finer details of this episode 

  • Which expenses are included in loan forgiveness
  • What you should do if your business uses contractors 
  • How to approach documentation 
  • What you need to know about the regulations and guidelines 
  • The timing and process to obtain forgiveness 
  • How to work with any loan that isn’t forgiven 
  • Do you need to pay taxes on the loan forgiveness? 

 

Episode resources

Best Books to Make You a Better CFO12 May 202000:22:12

Quote

“It’s impossible to have all these experiences yourself, so you get that from reading books.” - Adam Hale 

 

The finer details of this episode 

  • How The E-Myth Revisited laid the framework that Jody used to set up Summit CPA
  • How Getting Things Done can help accountants and CFOs stay organized and on top of their work
  • How Summit CPA uses The 4 Disciplines of Execution
  • Tips for how you can develop strong reading habits

 

Episode resources

Using JetPack Workflow for project management with David Cristello27 Apr 202000:36:32

Quote

“Project management tools are built for a defined sprint of work, but there is a big gap in recurring client management tools.” - David Cristello

 

The finer details of this episode 

  • David’s background and how he started JetPack Workflow
  • Why JetPack Workflow is a valuable project management tool for CPA firms
  • How to set up JetPack Workflow in your firm
  • When a firm begins to migrate into JetPack Workflow
  • Why JetPack Workflow is more effective than other project management tools
  • How JetPack Workflow has moved the needle on Summit CPA’s gross profit
  • The best way for smaller firms to adapt to a JetPack Workflow
  • Summit CPA’s approach to maintaining their JetPack Workflow
  • What new things are coming from JetPack Workflow in the future

 

Episode resources

PPP vs EIDL15 Apr 202000:25:08

Quote

“For the clients that are really hit hard, if they are completely shut down, the Employee Retention Credit might be a good move for them.” - Adam Hale 

 

The finer details of this episode 

  • Should you apply for the PPP or EIDL?
  • What you can do for businesses that are shut down for the foreseeable future
  • Your responsibility as a CPA in this crisis
  • How we are approaching COVID-19 with our clients
  • Forecasting tips to help clients work through the near future

 

Episode resources

Unlocking Profitability: Embrace Advisory Services and Client-Centric Solutions with Simon Severino14 Oct 202400:44:16

“If you're only working in the business, you're doing it wrong. Cut your activities in half. You have to free up time to think about the business, to work on the business.” – Simon Severino

The finer details of this episode:
• Transition from traditional tax-based practices to advisory-oriented services in accounting.
• Challenges faced by accounting firms in defining and marketing their services.
• Importance of understanding client needs and delivering tailored solutions.
• Decoupling time from value in professional services to enhance profitability.
• Strategies for effectively packaging and pricing advisory services.
• The role of marketing in differentiating accounting firms in a competitive landscape.
• Implementing structured approaches like "Strategy Sprints" for business growth.
• Identifying operational constraints and improving processes for better service delivery.
• Building long-term client relationships to foster loyalty and satisfaction.
• Emphasizing the need for continuous improvement and agile responses to market demands.

Episode resources:
● Summit Virtual CFO by Anders website: https://www.summitcpa.net/
● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com
● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/
● Check out Strategy Sprints here: https://www.strategysprints.com/

Timestamps:
Introduction to the Podcast (00:00:00)
Overview of the podcast's mission to provide insights on accounting firms' growth and innovation.

Guest Introduction (00:00:22)
Co-host introduces Simon Severino, highlighting his expertise and the challenges accounting firms face.

Simon's Background (00:01:29)
Simon shares his non-linear career path, emphasizing his passion for market strategy and problem-solving.

Transitioning to Advisory Services (00:03:09)
Discussion on the shift from tax-based practices to advisory services in accounting firms.

Decoupling Time from Value (00:05:14)
Simon explains the importance of separating time spent from the value delivered to clients.

Client Example: Cash Flow Reporting (00:06:15)
Illustration of how an accounting firm expanded services and improved profitability through automation.

Challenges in Changing Mindsets (00:08:54)
Discussion on the difficulty accountants face in shifting their perception of time-based billing.

High Margins of Advisory Services (00:09:31)
Simon highlights the significant profit margins in advisory services compared to traditional services.

Understanding Entrepreneurial Needs (00:10:51)
Exploration of what entrepreneurs truly need from their accounting services and reports.

Importance of Advisory in Cash Flow (00:12:40)
Discussion on the necessity of advisory services in helping clients interpret cash flow reports.

Strategic Value of Consulting (00:13:37)
Simon emphasizes the value of being a sparring partner for clients in decision-making.

Subscription-Based Services (00:14:45)
Discussion on how subscription models can help disconnect time from billing in professional services.

Impact of AI on Professional Services (00:15:58)
Simon discusses the challenges posed by AI in the financial services sector and competition.

Marketing on LinkedIn (00:17:16)
Emphasis on the importance of LinkedIn for professional services and strategies to gain mindshare.

Mindshare and Marketing Strategies (00:19:59)
Simon discusses the need for consistent marketing efforts to stay top of mind with clients.

Common Marketing Mist

How to Help Your Clients Through Difficult Times30 Mar 202000:26:52

Quote

“Times are different now with COVID-19, but these are conversations we need to have when the economy is doing really well.” - Adam Hale 

 

The finer details of this episode 

  • What conversations you want to be having with your clients during difficult times
  • How to approach making a plan with your clients to get them back on track
  • How to have difficult conversations with clients
  • Why weekly meetings with a CFO can help businesses survive a rough patch
  • Talking through layoffs, furlows, and pay cuts with your clients
  • What you can do for your clients during the COVID-19 crisis

 

Episode resources

Distributed Working Models20 Mar 202000:31:02

Quote

“Creating a dedicated space for your work is one of the most essential things you can do when working from home.” - Adam Hale 

 

The finer details of this episode 

  • How Summit CPA became a virtual company 
  • Work from home tips from the Summit CPA team 
  • Perks of working from home 
  • Our favorite tools for working online
  • How this can actually be a blessing in disguise for your company 
  • How to support yourself and your coworkers through this quarantine period 
  • How virtual teams can support business growth even better than in-person teams 

 

Episode resources

Onboarding A New Client16 Mar 202000:31:04

Quote

“Every good client relationship we’ve had with Summit CPA started out positive from the very beginning.” - Adam Hale 

 

The finer details of this episode 

  • How Summit CPA approaches the onboarding process
  • Why we have a team designated for onboarding new clients (and why we charge extra fees)
  • The keys to a successful onboarding process
  • Expectations we always set with our clients
  • Best practices for communicating with clients
  • Who is involved in onboarding? What are the roles to fill?
  • How long onboarding takes for us and what the timeline looks like

 

Episode resources

Structuring client meetings for success02 Mar 202000:27:24

Quote

“You don’t need a silver bullet every time you meet with your client” - Jamie Nau 

 

The finer details of this episode 

  • How to prepare yourself and your client for your meetings 
  • How Summit CPA has done this in the past and how we do it now 
  • The core meetings that you need to have with your client 
  • Conversations that are important to have in your meetings 
  • How to decide and communicate who should be in each meeting 
  • What the meetings look like for each service your CPA firm offers 
  • How long your meetings should be and how frequently you should hold meetings 

 

Episode resources

Marketing Your CPA Firm17 Feb 202000:26:11

Quote

“The marketing for Summit CPA is focused on building relationships. ” - Kelly Schuknecht

 

The finer details of this episode 

  • How to choose which priorities to focus on when marketing your CPA firm
  • Why good marketing is education-based and why you shouldn’t be afraid to “give out too much information”
  • How to determine if a marketing tactic is effective or not
  • How to leverage the different social media platforms for brand awareness
  • Leveraging the team at your CPA firm for a strong marketing strategy
  • How to choose the right tools for marketing your business
  • Tools we use at Summit CPA to make our marketing easier

 

Episode resources

The Virtual CFO Process03 Feb 202000:30:31

Quote

“If you really want to grow your firm and scale your practice, you have to have a process.” - Adam Hale  

 

The finer details of this episode 

  • What it was like in the early days of Summit CPA
  • How Summit CPA uses the 80/20 rule to embrace creativity with clients while also keeping solid systems behind the scenes
  • Tools we use to standardize our systems
  • What our processes look like at Summit CPA
  • How creating videos is the best way to standardize processes
  • How to standardize meetings without being too rigid
  • How standardizing and recording systems helps in onboarding new team members
  • Why you should be careful about over-standardizing

 

Episode resources

Tax Integration with Virtual CFO Services21 Jan 202000:25:05

Quote

“Taxes are a natural fit with any kind of CPA services you provide.” - Adam Hale  

 

 

The finer details of this episode 

  • How the tax services fit in with the other Virtual CFO services at Summit CPA
  • Why we don’t lead with tax services
  • Why CPA firms should departmentalize their tax work
  • Why taxes should be a small part of your CPA firm
  • The tax strategy we use with our Virtual CFO clients
  • How we are going to continue to improve our tax services in the future
  • Why doing taxes for Virtual CPA clients improves the overall client experience
  • Why it is so much easier to do taxes for Virtual CFO clients

 

Episode resources

Tips for Selling Virtual CFO Services06 Jan 202000:30:04

“For us, it’s about a long-term relationship. It’s about being a part of our client’s business for years to come, not just about cranking out one tax return.” - Adam Hale

 

The finer details of this episode

 

  • How we sell our services through education.
  • Why you should give away as much information as possible to your client base.
  • How to position yourself as the subject matter expert.
  • Why finding a niche is valuable.
  • What to consider when choosing your ideal client.
  • What the Summit CPA sales process looks like.
  • How Summit CPA’s sales process is unique and why it works so well.

 

Episode resources

How accounting firms can keep up with technology31 Dec 201900:19:18

“One of our strengths as a firm is that we are not afraid to move on to the next best software.” - Jamie Nau

 

The finer details of this episode

 

  • The different types of software that Jake and Adam learned about at Live 360, an IT conference they attended in Orlando.
  • The software programs that Adam and Jake want to bring to the firm to upgrade how things work on the back end.
  • The advantages of the Microsoft platform and what they think it will bring into the workspace.
  • The advantage of Sharepoint and why the firm is moving in that direction.
  • The logistics of how they got members of the team to the conference.
  • The advantages of sending your team members to conferences.

 

Episode resources

 

Why hiring is SO important11 Dec 201900:26:53

“We’re not just looking to hire someone with an accounting degree. Customer interaction is very important to us.” - Zach Montroy 

The finer details of this episode 

  • The Summit CPA hiring process.
  • Are passionate people driving HR?
  • Culture, values, and EQi.
  • The tough questions Summit asks in the interview process.
  • How Summit CPA’s leadership team is involved in the process.

Episode resources

Mastering Excel: Essential Skills and Strategies to Boost Efficiency with Jeff Lenning30 Sep 202400:41:46

“I love Excel. It's helped me save so much time over the years, and when I began thinking about Excel more like an employee that I can delegate stuff to, it helped me save an incredible amount of time.” – Jeff Lenning

The finer details of this episode:
• Strategies for leveraging Excel to improve efficiency
• Continuous learning and development in Excel
• Common pitfalls and challenges in Excel usage
• Mindset shift from "if" to "how" in using Excel
• Role of AI in enhancing Excel skills
• Structure and offerings of Excel University
• Key Excel functions and features for accountants
• Real-world applications and case studies using Excel
• Importance of presentation skills in Excel reporting

Episode resources:
● Summit Virtual CFO by Anders website: https://www.summitcpa.net/
● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com
● Check out the Virtual CFO Playbook Course: https://vcfoplaybook.summitcpa.net/
● Connect with Jeff here: https://www.linkedin.com/in/jefflenning/
● Check out Excel University here: https://www.excel-university.com/tips

Timestamps:
Introduction to the Episode (00:00:00)
Overview of the podcast's mission to provide insights on innovative tools and strategies in accounting.

Guest Introduction (00:00:22)
Tom introduces Jeff, a Microsoft MVP and founder of Excel University, highlighting his career background.

Why Excel University? (00:01:18)
Jeff explains his passion for Excel and how it transformed his workflow efficiency.

Continuous Improvement in Excel (00:02:27)
Discussion on the iterative process of optimizing Excel workbooks for efficiency and accuracy.

The "Last Year" Trap (00:04:06)
Jeff addresses how accountants often stick to familiar methods without seeking improvements.

Mindset Shift in Excel Usage (00:05:53)
Jeff shares his approach of asking "how" instead of "if" when automating tasks in Excel.

Learning with AI Tools (00:07:00)
Jeff discusses the benefits of using AI to enhance Excel skills and troubleshoot formulas.

Excel University Experience (00:09:02)
Overview of the structured learning approach at Excel University, focusing on sequential knowledge building.

Continuing Education Credits (00:11:44)
Information on CPE credits offered through Excel University’s programs.

Focus on Presentation Skills (00:12:11)
Discussion on improving both functionality and presentation of Excel reports for better client communication.

Charting in Excel (00:14:16)
Tom and Jeff discuss the challenges of formatting charts in Excel for effective presentations.

Key Excel Functions for Accountants (00:15:25)
Jeff highlights essential Excel functions that every accountant should master.

Power Query's Benefits (00:16:59)
Jeff explains how Power Query automates data processing, saving time and improving efficiency.

Real-Time Data Refresh (00:18:07)
Benefits of using Excel for live updates during client meetings, enhancing responsiveness.

The Impact of Spreadsheets (00:19:01)
Discussion on the historical significance of spreadsheets in making personal computers indispensable.

Microsoft's Ongoing Investment in Excel (00:19:51)
Discussion on Microsoft's continuous updates and new features in Excel.

Learning Excel Functions (00:20:17)
Importance of learning new Excel functions beyond the basics through courses and online resources.

YouTube Channel Promotion (00:20:38)
Jeff shares his YouTube channel for quick Excel tips and updates.

Se

Becoming the firm of the future28 Nov 201900:27:32

“They don’t feel like they have to guess while they grow. There’s a concrete plan.” - Jake Grimm

The finer details of this episode

  • Why Adam thinks Summit is the firm of today.
  • What Summit CPA is doing with tech to be efficient.
  • How to save 30 minutes a week per client
  • The keys to evaluating tech tools.
  • The Summit CPA tech stack.
  • The power of forecasting.

Episode resources

How we built our team using a distributed model19 Nov 201900:26:32

“If they’re not willing to get on camera, then they likely won’t be a good prospect.” - Jody Grunden

The finer details of this episode

  • What is a distributed model and terms used to describe it.
  • How Summit CPA became distributed.
  • The logistics of working from home.
  • The tools used to support a distributed model.
  • Why in-person events are important.

Episode resources

How we bootstrapped the firm of the future22 Oct 201900:29:58

“If we want to make an impact in the industry, if we want to change the way everyone is thinking, then we have to get our peers to do the same.” - Adam Hale 

The finer details of this episode 

  • Jody and Adam share how they got into the accounting industry
  • What Jody wanted to differently when starting Summit CPA
  • Moving from an hourly model to value-based pricing and achieving a negative AR
  • The type of services that Summit CPA provides to clients
  • How Summit CPA helps accountants go virtual
  • What role does core values play in the organization

Episode resources

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