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Deeper Weekend 2014

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CPA firm

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  • Adrian Simmons
    Adrian Simmons
  • Bryan Coleman
    Bryan Coleman
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    Greg Kyte
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  • Jason Blumer
    Jason Blumer
  • Jennifer Blumer
    Jennifer Blumer
  • Scott Kregel
    Scott Kregel

Jason BlumerI’m a Peter Thiel fan. He is a contrarian, and there is power in contrarian thinking. In his book Zero to One, Thiel talks about Secrets in Chapter 8. It’s one of my favorite chapters.

 

secrets

 

In his book, Thiel contrasts secrets between conventions and mysteries. He contends that conventions within business are easy to uncover (like, you should use a CRM to manage your client’s information), and that mysteries are impossible to uncover (like, you will make a lot of money if you can predict what the stock market will do tomorrow). He makes a point that secrets are not easy to discover, yet they are not impossible. You will not stumble into secrets – if they are to be found, then you must search for them.

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Category:
CPA firm, Customer Experience, Innovation
Comments:
2
Jason BlumerThe firm of the future does not exist. Never has, never will. As my colleague Adrian Simmons says, there will be “firms of the futures.” Amen. There currently are, and will be in the future, many different types of firms doing many different things, led by many different leaders. There is no ‘right way’ when building an enterprise. Let’s stop searching for what does not exist. Building this elusive future firm keeps us focused on each other, a mistake that is beginning to become obvious to a new generation of accountants. We focus on ourselves by:

-surveying each other (the results are not changing us),
-benchmarking against one another’s business models (copying leads to mediocrity),
-moving to the cloud (the never-ending distraction),
-merging and acquiring each other (we’re still the same, just bigger), and
-eking out the never-ending efficiencies within our processes (but wealth creation is decidedly inefficient)

In my opinion, our profession is not headed towards changing our customers’ lives. We are only staying the same, just at a faster pace than before. Has our profession changed or created anything new in the past 25 years? We are a fearful bunch, and the state of my beloved profession is starting to worry me. We are even still teaching the accountants of the future the same way I was taught in the early 90s. I’m scared for us, and this has got to stop. We must become business strategists, enterprise builders, life changers, and lovers of people. We can become these things, but we must first learn what it means to build, run, and lead a real enterprise.

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Category:
CPA firm
Comments:
11

bryanThat’s what I really wish someone would’ve told me.

“Jumping the cliff” is our euphemism in Thriveal for quitting your day job and going out on your own.  It’s a scary proposition.  When you jump, you’re in free fall and rock bottom is staring you right in the face.

I felt the ground was coming faster than my wings could flap, so I prolonged the jump. In the name of “preparing” myself, I did a lot to avoid the plunge.  Looking back on it now, I can see a few trends: Read more

Category:
Cliff Jumpers, CPA firm
Comments:
10

REFM -  Adrian Photo Square - CATOBGreat things can be accomplished by teams. And the best teams are made up of players who have unique roles that mesh and multiply their teammates.

 

What is the unique role of the CPA? The thing we bring to the table of business?

 

I propose that CPAs should own the “profit equation” – that it be our domain.

 

*****

 

Revenues – Expenses = Profit. Read more

Category:
CPA firm
Comments:
5
Jason BlumerI’ve been thinking about company culture a lot lately. The Thrivecast (the podcast from Thriveal) was on culture, and Greg Kyte (my co-host) and I did some study around the subject.

 

Furthermore, I got into a discussion on culture in our private Thriveal community when I linked up an article in the community entitled ‘Don’t F#@! up the Culture.’ The article was written by the CEO of Airbnb, Brian Chesky, and he was telling his team what his investor, Peter Thiel, told him when Chesky asked Thiel, “What is the single most important piece of advice you can give me?” I believe it is a huge statement for Peter Thiel to respond to that question with an answer focused on controlling culture. He said, “don’t f#@! up the culture.” Since Peter Thiel was the CEO of PayPal, I’m going to listen to his thoughts on building company culture. I dug into Peter Thiel’s thoughts on culture a little more, and found the article entitled ‘Peter Thiel’s 3 Rules for Starting a Business‘ by Jessica Stillman of Inc. magazine. The article was written about a Stanford class Peter Thiel taught, and the summary of that class from the notes of one of the students. Let me point out that the first (of three) things Thiel told the students they need to do when starting a business is to get the culture right. The class notes go on to summarize a 2 x 2 matrix that Thiel discussed. I like matrices, so I built the matrix visually from the article and the notes of the student: Read more
Category:
CPA firm, Leadership, Strategy
Comments:
4

Jennifer BlumerAs a business owner, you have a lot going on. And maybe you are trying to please a lot of people AND keep the lights on. That’s a lot of pressure. These rights are basic and maybe a little obvious, but a reminder never hurt. Maybe the reminder will help you remember to take care of yourself.

You have:

The right to say no – You don’t have to serve people whose numbers on caller ID make you cringe. You have the right to say no to a lunch appointment “just to catch up.” You have the right to say no to offering services you hate. You can say no with class, but sometimes you need to just say no.

The right to be paid for the value you provide – Your customers want access to you. Sometimes they really do have a quick questions. (And sometimes they say they have a quick question that is anything but quick.) I am not suggesting you send a bill for every phone call. I am suggesting you price in a way that makes you less frustrated when you get those kinds of calls. And that you stop working for free. Is your client paying for a tax return? Then why are you also cleaning up their accounting for the whole year? Get paid for the value you are providing. Read more