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  • This Week on BPAF : Rebecca Howell

    This Week on BPAF : Rebecca Howell
    2024/10/07

    Join us this Wednesday for a new episode where Roger discusses Growing and selling a business with Rebecca Howell
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    1 分
  • The Role of the Accountant in Business Exits w/ Craig Primo

    The Role of the Accountant in Business Exits w/ Craig Primo
    2024/10/02
    In this enlightening episode, host Roger Knecht sits down with Craig Primo, a FINRA licensed investment banker, to explore the multifaceted process of selling a business. Craig shares invaluable insights into the essential role accountants play in ensuring smooth and successful transactions. Whether you’re planning an exit strategy or facing an unexpected sale, this episode is packed with practical advice to help you prepare. Main Themes: The Critical Role of Accountants: Craig and Roger note the importance of maintaining accurate financial records during a sale. They discuss challenges posed by outdated accounting methods during sales. Craig highlights the necessity of GAAP-compliant statements for attracting buyers. Understanding Financial Metrics: Roger and Craig discuss key metrics such as gross profit margins and liquidity ratios. Detailed financial data analysis creates opportunities for accountants in a sale. Enhancing collaboration between accountants and clients to identify growth opportunities and prevent burnout. Debt and Growth: Craig explains how to leverage debt for business growth versus traditional cash reserves. They discuss the risks of over-leverage and the phenomenon of “zombie companies.” Granular Financial Analysis: Roger offers advice on managing legacy products and shifting focus to more profitable opportunities. They note the role of private equity in identifying inefficiencies. Professionalism in Accounting: They explain the pyramid model of accounting needs based on business size and maturity. Craig emphasizes the need for a transition from growth-focused to structured financial management. Proactive Financial Planning: Craig offers advice on preparing for business exits. Roger highlights strategies for securing loans and avoiding missed opportunities. They break down the differences between LLCs and C Corporations, and the use of Phantom stock for employee retention. Financial Statements and Trends: Analyzing financial statements to understand trends and improve cash flow. Managing receivables, payables, and inventory. Importance of timely bookkeeping and strategic accounting partnerships. Business Sales Scenarios: Unexpected sales and the need for urgent documentation. Proactive preparations for sale. Planning for venture capital with a 3 to 5-year sale timeline. Emotional Challenges in Sales: Emotional factors complicating the sale process, especially in family businesses. Recognizing and addressing emotional challenges to facilitate smooth transitions. Complex Business Transactions: Impact of events like death or family disputes on transactions. Equity distribution disputes and differing valuations. Accountants’ role in providing strategic support, timely information, and accurate forecasting. Join us for an in-depth discussion on how to navigate the complexities of selling a business with expert guidance from Craig Primo. Whether you’re an entrepreneur or an accountant, this episode offers valuable strategies to ensure a seamless and profitable transition. For more information on how you could broker these complex transactions, call 435-344-4060 to connect with Universal Accounting Center. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Find & Follow - In Find & Follow, Greg & Jonathan DeVore provide the key to solving the knowledge transfer problem and transforming your business. Don’t spend another day wasting your and your team’s time relying on tribal knowledge – get a copy now! Create a Culture of Accountability. This is a training to help understand and implement clear expectations. Easy to implement, quick to experience results. We refer to it as the S.T.A.R. Training program. 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 ...
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    1 時間 17 分
  • This Week on BPAF : Craig Primo

    This Week on BPAF : Craig Primo
    2024/09/30

    Join us this Wednesday for a new episode where Roger sits down with Craig Primo.
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    1 分
  • Rewind : Putting Profit First and Eradicate Entrepreneurial Poverty with Ron Saharyan

    Rewind : Putting Profit First and Eradicate Entrepreneurial Poverty with Ron Saharyan
    2024/09/28

    Join us as we revisit this conversation from 2020!

    As accounting services become more automated and commoditized there are things accounting firms can do to remain relevant and take care of their clients. Listen to Roger Knecht, president of Universal Accounting Center and Ron Saharyan, Co-Founder of Profit First Professionals as they consider the challenge accounting professional face today. Consider the solutions offered and see what you can do to offer more value to your customers as a trusted strategic advisor helping them make profit a priority.

    Why Should Accountants Offer This Service?

    • Why they are in the best position to do this with their clients
    • Why become more consultative in your services to offer more value to your clients
    • How to stand out from other accounting firms

    See how you can offer a Cash Flow Management System (pay yourself first methodology) that is unique.

    Sponsors:

    Universal Accounting Center

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

    Profit First

    • Helping eradicate entrepreneurial poverty – giving accounting professionals the process to make profit intentional and deliberate.

    Offers:

    1. Get a FREE copy of the e-book “Red to Black”, the how to guide for accounting professionals to help business owners with the most pressing problem many face, cash flow.
    2. Get a FREE copy of the e-book “Profit First” to help your clients make profit a priority and help eradicate entrepreneurial poverty.
      1. As supplies last, get your copy of the book “Profit First”, email Ron directly at rons@profitfirstprofessionals.com (Be sure to listen to the podcast for details)
    3. Become a certified Profit First Professional, PFP

    Remember this, Accounting Success IS Universal.

    Listen to our next episode and be sure to subscribe.

    For more information on how you can apply these principles in your business please visit us at www.universalaccountingschool.com

    or call us at 8012653777
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    42 分
  • Empathy-Driven Strategies for Premier Client Relationships w/ Chantal Cornelius

    Empathy-Driven Strategies for Premier Client Relationships w/ Chantal Cornelius
    2024/09/25
    In this episode of Building the Premier Accounting Firm, host Roger Knecht is joined by Chantal Cornelius, founder of Apple Tree Marketing, to explore the critical role of emotional connections in client relationships within the accounting industry. Chantal emphasizes that the success of accounting firms hinges on building trust and personal connections with clients, which goes beyond the typical scope of social media content. Key Discussion Points Emotional Decision-Making: 95% of buying decisions are emotionally driven, Chantal says. She introduces strategies to create empathy-driven relationships with clients, stressing that accounting services, unlike products, require deep trust in accuracy and strategic advice. Challenges of Commoditization: The episode discusses the risk of commoditizing accounting services and the importance of differentiating through trust and personal connections. Chantal’s Stand Out Strategies for Differentiating Accounting Firms: Connection: Engage clients through networking and sharing valuable resources. Contribution: Involve clients in charitable initiatives to build a sense of community and shared values. Growth: Offer actionable advice that supports clients’ business expansion. Significance: Ensure clients feel valued and heard, reinforcing their importance to the firm. Practical Tips and Insights Building Trust: Personal touches like remembering client birthdays and providing coaching services to address personal challenges. Marketing Tactics: While skeptical of social media’s effectiveness in fostering deep relationships, Chantal advocates for referrals, networking, and content marketing, emphasizing the need for clear strategies before implementing tactics. Networking Events: Attend events aligned with the ideal client profile and have a clear purpose for all business activities, including podcasting. Additional Content Personal Interests: Chantal shares her passion for skiing and her journey of recovering from back surgery, adding a personal touch to the episode. Sales Basics: Understanding the fundamentals of sales and fostering deeper relationships through face-to-face interactions is highlighted. Thank you for listening to this episode of Building a Premier Accounting Firm. BRAP is a must listen for bookkeeping, accounting, and tax business owners aiming to enhance their client relationships and differentiate their services in a competitive market. Call 435-344-2060 for more information. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Take the Test and get free advice at https://appletreeuk.com/take-the-test/ 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 your services effectively 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...
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    42 分
  • This Week on BPAF : Chantal Cornelius

    This Week on BPAF : Chantal Cornelius
    2024/09/23

    Join us this Wednesday for a new episode where Roger discusses building relationships with Chantal Cornelius
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    1 分
  • Rewind : Accounting, It Needs to be a Universal Skill like Reading and Arithmetic w/ Peter Frampton

    Rewind : Accounting, It Needs to be a Universal Skill like Reading and Arithmetic w/ Peter Frampton
    2024/09/21
    Join us as we revisit this conversation from 2020! We’ve heard the phrase that it’s a small world or a global economy, well for Peter this is more than just a phrase, it’s an opportunity to help everyone understand and appreciate the accounting model and he is ready to make it happen. Not only is he a world traveler but he has also created an accounting course that is fun and interactive which is used in schools around the world as well as fortune 500 companies to train management. Listen as Peter and Roger discuss the evolution of this process and how it applies to the accounting profession. Also see what you can do to apply these skills to better work with your clients to help them use the information they receive from you to make better business decisions. Your Host: Roger Knecht, president of Universal Accounting Center Our Guest: Peter Frampton Peter Frampton chairs the board of Color Accounting International. He is passionate about supporting people to improve their accounting literacy - which is the foundation of the Accounting, Finance & Business trinity. The privately owned company and social enterprise is the publisher of a breakthrough learning technology that makes understanding accounting easy. At the heart of the technology is a diagram called the BaSIS Framework™. The graphic shows finance and accounting on a single page. The Framework does for accounting what the Macintosh did for computers: it makes the subject intuitive and easy for anyone to understand and use. Peter is the co-author of two published Color Accounting books. He is on the adjunct faculty of American University in Washington DC, where he teaches in the School of International Service. Peter and Color Accounting have worked with names you’ll likely recognize, such as Morgan Stanley, Goldman Sachs, Westinghouse, Caterpillar, SHRM, ASTD, Harvard Business School, Wharton, Georgetown University, Maryland Association of CPAs, the SEC, dozens of the top-100 US and British law firms, and with numerous entrepreneurs and incubators, as well as hundreds of accounting teachers and professors in high schools and universities. Color Accounting International works with Partners to deliver training in over 40 countries. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Color Accounting International What they do: Finance and business acumen workshops for non-financial people using a breakthrough graphical system.The Mission: People are empowered to make wise decisions, collaborate effectively and amplify value – a financially conscious world. Color Accounting International is a publishing company, a licensing company and education provider. They've developed and distribute the Color Accounting® learning system. They work with a network of accredited Partners and different languages around the world. They are a social enterprise, with a dual social-impact and commercial motive. They advocate accounting as a fundamental form of literacy, like Reading, Writing and Arithmetic. Accounting literacy has the power to improve lives, corporations, not-for-profit organizations and governments. The Color Accounting Network includes: Sales Partners, who provide educational workshops for their corporate clientsCorporate Educators, who are accredited by us to facilitate events run for corporate clientsAcademic Educators, who teach accounting in educational environments such as schools and universities. Offers: Get a FREE copy of each of two book all accounting professionals should use to offer trusted strategic advisory services and get paid what they are worth. These are must have additions to every accountants library to provide the value clients look for 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 Enroll in Color Accounting – experience the accounting module in a new interactive way. Learn how accounting works in business and how to easily discuss it in layman’s terms, avoiding the confusion common with debits and credits. Accounting Comes Alive - “Accounting Comes Alive has the advantage of showing how accounting works visually. As such, I believe that it is of value to anyone who is interested in understanding accounting, from high school students to undergrads to MBAs to business executives." – Professor Paul Healy, Harvard Business School Get your BaSIS poster - BaSIS? It's an acronym of Balance Sheet and Income Statement. In a nutshell it provides a top-down single-page graphical view of accounting. Its unique layout has the debit and credit accounts grouped by 'sides' and then color-coded. Once the students learn how the framework works, it becomes a powerful tool for 'pointability' -...
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    50 分
  • Mastering the Numbers Game: Innovative Strategies for Transforming Your Firm w/ Eric Green

    Mastering the Numbers Game: Innovative Strategies for Transforming Your Firm w/ Eric Green
    2024/09/18
    Welcome to another enlightening episode of Building the Premier Accounting Firm with Roger Knecht. This episode dives deep into the essential strategies for building and scaling successful bookkeeping, accounting, and tax firms with Eric Green. Roger and Eric cover a wide range of topics from marketing to technology, client onboarding, staff training, mental health, and the evolution of IRS systems. Key Highlights: Marketing and Client Onboarding: Roger and Eric discuss effective marketing strategies for attracting and retaining clients. They suggest best practices for seamless client onboarding processes to ensure long-term retention. Technology and Staff Training: Roger gives tips for leveraging modern technology to streamline operations. Eric emphasizes the importance of ongoing staff training to stay updated with industry changes and client needs. Mental Health: They discuss how to address mental health concerns within the profession and the significance of maintaining a healthy work-life balance. Guest Insight: Eric Green’s Journey: Eric Green revisits his unconventional path in the accounting field. He explains his journey to overcome biases against night law school graduates. Experiences and lessons from his tenure at KPMG. Proactive Tax Planning and Strategy: The hosts advocate for proactive tax planning to provide significant client savings. They explore how to restructure business models to maximize value beyond traditional tax deduction methods. Specialized Knowledge and IRS Systems: The importance of understanding IRS systems to effectively resolve client issues. How specialized knowledge can lead to increased income with fewer clients. Training Programs and Market Adaptation: Development of a comprehensive training program transitioning from in-person to online formats. Licensing deal with CCH and the growth of the Tax Rep Network. Tax Resolution Services: Rising demand for tax resolution services as an additional revenue stream. Managing clients with smaller vs. larger debts and helping non-filers organize their finances. Client Accounting Services (CAS): Transitioning into CAS and recognizing new opportunities within the profession. Building a community through membership services. Future of the IRS and Automation: Discussion on the future of IRS operations with increased automation. Emphasis on the continued need for professional assistance for complex tasks despite automation. Resources and Opportunities: Encouragement to explore past podcast episodes for additional insights and resources. Invitation to attend GrowCon, an annual conference for accounting professionals, for further learning and networking opportunities. Join us in this insightful episode to gain a comprehensive understanding of the strategies needed to build and grow a successful bookkeeping, accounting, and tax firm in today’s evolving landscape. Thank you to Eric Green for joining the show! Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Build a Successful Tax Business offering quality tax preparation services and more. Become a certified Professional Tax Preparer (PTP) & an Enrolled Agent (EA) Then move further into the tax space offering Tax Representation Services using the Tax Rep Launch program: https://taxrepllc.com/launch/ 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 (CAS - Client 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 ...
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    47 分