Escaping the Accountant's Trap

Are you an accountant, CPA, or bookkeeper struggling with imposter syndrome? In this episode of Escaping the Accountant's Trap, Adam Lean is joined by Nancy McClelland CPA, aka The Dancing Accountant, to tackle this widespread issue. Nancy shares her expertise on imposter syndrome - what it really means, how to know if you have it or are simply learning something new, and practical tips for overcoming those feelings of being a fraud. You'll hear Nancy's insightful perspective on why imposter syndrome disproportionately affects women and minorities, the difference between self-doubt and truly being an imposter, and how education and experience are key to building real confidence. Whether you're a bookkeeper looking to offer CFO advisory services or an accountant moving into a new realm, this episode provides valuable guidance for escaping the trap of imposter syndrome. Sign Up For Our Newsletter: https://www.accountantstrap.com/subscribe And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Learn More About The CFO Project: https://thecfoproject.com/ Visit Nancy's website: https://www.thedancingaccountant.com

Uncover the secrets to marketing your accounting and advisory services with expert insights from Matt Banker, owner of Benchmark Growth Marketing, in the latest episode of "Escaping the Accountant's Trap" podcast. Dive into the discussion as Adam Lean and Matt Banker address key questions on how to effectively market yourself in a crowded space and attract high-quality clients. Learn why differentiation is key and discover actionable strategies to stand out in a competitive market. Gain valuable insights into crafting clear and compelling messaging that resonates with your target audience and communicates the unique value you offer. From leveraging local SEO to identifying your ideal client niche, explore practical tips for boosting your visibility and attracting larger clients willing to pay premium fees. Don't miss this opportunity to transform your marketing approach and elevate your accounting or bookkeeping business to new heights of success. Tune in now to unlock the secrets of effective marketing for financial professionals! Sign Up For Our Newsletter: https://www.accountantstrap.com/subscribe And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Learn More About The CFO Project: https://thecfoproject.com/ Visit Matt's website: https://marketingforaccountingfirms.com

In this episode of "Escaping The Accountant's Trap," host Adam Lean welcomes Roger Knecht, CEO of Universal Accounting Center, to delve into the transformative journey from traditional accounting to becoming a strategic advisor. The discussion opens with a look back at the evolution of Universal Accounting Center, from its inception in 1979 as a local school to its current status as a leading online educational platform for accounting professionals. Knecht shares insights into the center's philosophy of blending book knowledge with practical experience, emphasizing the importance of nurturing a mindset of curiosity and care in the business world. As the conversation unfolds, Knecht and Lean explore the critical skills accountants and bookkeepers need to transition into advisory roles, highlighting the significance of a nurturing mindset and a deep curiosity about business operations. They discuss the challenges and rewards of becoming a trusted advisor, capable of guiding business owners through personal and professional hurdles. The episode is a treasure trove of wisdom for accounting professionals eager to escape the traditional accountant's trap by offering value-added advisory services, fostering deeper client relationships, and ultimately, driving business growth through strategic insights and accountability. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Roger's website: https://universalaccounting.com

In this engaging podcast episode, Adam Lean and Michelle delve into the intricacies of integrating CFO advisory services into an existing accounting firm. The discussion kicks off with insights on transitioning from traditional accounting practices to offering higher-value services. Michelle emphasizes the importance of breaking free from the "accountant's trap" of trading time for dollars and advocates for creating an irresistible offer to attract high-quality clients. The duo explores how to effectively communicate the benefits of CFO advisory services, stressing the need to build trust and relationships with clients before proposing such offerings. They also touch on pricing strategies, drawing parallels between retail experiences at stores like JCPenney and Nordstrom to illustrate the significance of positioning and delivering value. Listeners are encouraged to consider the long-term benefits of transitioning to advisory services, providing a fresh perspective on elevating the role of accountants beyond traditional practices. The conversation is both insightful and actionable, offering practical advice for accountants seeking to evolve their firms and attract clients who appreciate the value of CFO advisory services. If you're navigating the complexities of this transition or contemplating the shift to higher-value services, this podcast episode provides valuable guidance and strategies to position your firm for success. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Michelle's website: https://theabundantaccountant.com

Do you feel trapped doing mundane accounting work and want to break free to become a high-value advisor? Learn how to make the transition from compliance to strategic CFO directly from a fellow financial expert. In this episode of Escaping the Accountant's Trap, host Adam Lean interviews Lacey Harner, an experienced CFO, about escaping the trap by moving into advisory services. Discover why most small businesses fail without financial leadership and how accountants can fill this gap by becoming trusted advisors. Learn the communication and relationship skills vital for guiding clients versus confusing them with accounting jargon. Hear how focusing your time on your unique zone of genius transforms your impact on clients and your income. Whether you crave meaning over money or want to 10x your revenue, providing high-level CFO insights is the key to escaping the grind of compliance work. Tune in for inspiration and practical tips to stop simply accounting and start advising businesses to success. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service

Do you dread having to sell and convince clients to say yes to your accounting services? Learn how to get clients to agree to your proposals without sleazy selling tactics. In this episode, host Adam Lean talks with Will Hamilton of SmartPath.co about shifting your mindset from "selling" to guiding clients. Discover how understanding your client's pain points and aligning your services to solve them leads to quick yes's. Will provides examples of accounting firms that doubled revenue in 18 months using this approach. Whether you want to earn more or work less, implementing a guiding sales process vs. convincing process is key. Tune in for actionable tips to get clients saying yes without you having to sell. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit William's website: https://smartpath.co

Are you an accountant, CPA, or bookkeeper feeling trapped working long hours for demanding clients while being underpaid? Learn how to escape the trap and grow your accounting practice by optimizing your sales and getting paid your true value. In this episode, host Adam Lean interviews Michelle Weinstein, the Pitch Queen for Accountants, on strategies to improve your sales and revenue. Michelle shares insights on overcoming the fear of selling, charging what you're worth, having confidence in your services, and implementing a sales process. She provides examples of accounting firms that doubled or tripled revenue by optimizing their sales approach. Whether you want more free time or increased profits, this episode will give you actionable tips to escape the trap through better sales. Listen now to start charging what you deserve! Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Michelle's website: https://theabundantaccountant.com

In this episode of the "Escaping the Accountant's Trap" podcast, host Adam Lean welcomes Chris Farrell, the CEO of Liscio, to discuss the pivotal role of creating five-star client experiences in breaking free from the accountant's trap. Chris, who evolved from an accountant to a CFO and now leads a software company catering to accountants, shares his journey and insights into the accounting profession's changing landscape. The conversation delves into the importance of proactively meeting clients' evolving needs, the significant shift in client expectations, and the generational changes impacting the accounting industry. Discover the secrets to building a successful accounting business as Chris Farrell reveals the common denominators for success based on his experiences. He emphasizes the crucial aspect of staying attuned to clients' needs, pointing out that providing what clients want—forward-looking planning and advice—is key. Chris also touches upon the generational shift in how people perceive public accounting, citing a Xero survey indicating that half of millennials actively seek a change in accountants, signaling a prime opportunity for firms embracing innovative approaches. Tune in for valuable insights and perspectives on navigating the changing dynamics of the accounting profession. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Learn More About Chris & Liscio: https://www.liscio.me

Welcome to another episode of Escaping the Accountant's Trap podcast, where Jeff Prager, Co-founder of The CFO Project, shares transformative insights. In this session, we explore the shift from accountant to CFO business advisor, uncovering the challenges professionals face in the accountant's trap. Jeff discusses the disconnect between what businesses need and what accountants offer, emphasizing the shift towards advisory services to guide businesses to a better future. The episode highlights the impactful side of being a CFO, fostering lasting client relationships, reducing workload, and increasing net profit. Ready to break free from compliance cycles? Join our free Thursday training sessions at The CFO Project to explore "How to Start a CFO Service." This episode is a must-listen for accountants and bookkeepers ready to embrace change, unlock potential, and transform their careers. Subscribe now for more eye-opening discussions on CFO transformation and advisory success. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service

Welcome to the Escaping the Accountants Trap podcast, where we unravel the complexities of breaking free from the accountant's trap that shackles many professionals in the field. In this episode, joined by Jeff Prager, co-founder of the CFO Project, we tackle the critical topic of scaling your accounting or bookkeeping practice. Through a comprehensive discussion, we explore the four fundamental stages of growth: the solo phase, the growing phase, scaling up, and finally, the growth stage. Jeff provides invaluable insights into overcoming obstacles, strategic delegation, and transitioning from a practitioner to a CEO, offering a roadmap for accountants and bookkeepers seeking to elevate their practices to new heights. Intricately navigating the journey from handling all aspects as a solo practitioner to strategically managing a practice as a CEO, this episode provides actionable advice for those looking to scale their accounting or bookkeeping ventures. Listen in to uncover the keys to growth, effective delegation, and the significance of viewing your expertise as a valuable product that can be strategically marketed in the competitive landscape of accounting services. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service

Welcome to the "Escaping the Accountant's Trap" podcast! In this series, we unravel the challenges faced by accountants, CPAs, and bookkeepers as they strive to break free from the accountant's trap. Join us on a journey of growth, exploring strategies, insights, and success stories that empower financial professionals to shift from compliance work to advisory services. Whether you're aiming to scale your firm, work more efficiently, or provide higher value to clients, this podcast equips you with the tools and knowledge needed for a successful transition. In today's episode, we delve into the pivotal topic of making the shift from compliance work to advisory services. I'm joined by Gaynor Meilke, the founder of Charisma Ink, as we discuss the intricacies of this transformation. Gain valuable insights into the stepwise approach to advisory services, the power of niches in marketing, and stories of firm owners who've elevated their businesses through strategic shifts. Don't miss out on actionable tips and real-world experiences that can guide you in unlocking the full potential of advisory services for your accounting business. Listen now and discover the path to escaping the accountant's trap! Visit Gaynor's Website: https://charismaink.com/ Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service

Welcome to the "Escaping the Accountant's Trap" podcast, a dedicated space for accountants, CPAs, and bookkeepers seeking liberation from the common struggles of undervaluation and excessive work hours. In this episode, we're joined by Ryan Kimler, a prominent member and lead trainer at the CFO Project. As a seasoned expert guiding others in launching and expanding their CFO or advisory services, Ryan provides a unique perspective on escaping the accountant's trap. In the realm of advisory services, Ryan stands out as he shares his journey and passion. Early in his career, while engaged in bookkeeping and producing financials, he discovered a profound demand from clients. They weren't just content with clean and clear financials; they sought actionable insights to enhance their business based on those numbers. This ignited Ryan's curiosity, leading him to seek mentors and knowledge, ultimately steering him towards the advisory path. His dedication to providing high-value services to business owners became a lifelong commitment. Now, shifting to the specifics of one of Ryan's cases, we delve into a fascinating strategy to boost a client's business. In the context of a sewer and drain cleaning company facing challenges with technician sales, Ryan proposes a unique solution—hiring a straight commission salesperson. This unexpected idea unfolds as a win-win scenario: a $300,000 opportunity for the company and a job creation avenue. The episode concludes with Ryan's valuable advice for accountants and bookkeepers—setting boundaries for unscheduled phone calls, enhancing organization, and transitioning towards advisory work. Join us in exploring the multifaceted world of accounting and advisory, where innovative strategies pave the way for business growth and professional fulfillment.

Welcome to the "Escaping the Accountant's Trap" podcast, a valuable resource designed to liberate accountants, CPAs, and bookkeepers from the challenges of undervaluation and long working hours. In this episode, we delve into the crucial strategy of becoming a more effective consultant, featuring insights from the seasoned expert Ed Kless from Sage. Ed introduces the concept of meta-consulting, shedding light on the discipline of consulting and distinguishing it from surrogate management. The episode unfolds with a focus on the art of asking pertinent questions, emphasizing "what matters" inquiries that lay the groundwork for innovation. In this insightful episode, Ed Kless explores the nuances of effective consulting, guiding professionals on how to redefine their roles and relationships with clients. The second part of the episode confronts traditional measurement practices and advocates for a paradigm shift towards subscription-based pricing. Ed challenges the status quo, encouraging listeners to break free from outdated billing methods and embrace a profit-centric approach. Join us in this empowering discussion to gain practical strategies and insights for navigating the complex landscape of the accounting profession. Subscribe now for more episodes that will equip you to escape the accountant's trap and thrive in your role.

Welcome to Escaping the Accountant's Trap, the podcast designed to liberate accountants, CPAs, and bookkeepers from the mundane. Hosted by Adam Lean, this episode features Eric Edelstein, co-founder of DOKKA, shedding light on the pivotal role of technology, especially AI, in reshaping the accounting landscape. Eric explains how machine learning simplifies intricate processes, making way for accountants to evolve into strategic business advisors. In this insightful episode, Eric delves into the transformative potential of technology in the accounting sphere. Using DOKKA as a prime example, he illustrates how machine learning simplifies intricate processes, paving the way for a future where accountants can elevate their roles from mundane tasks to strategic business advisors. The conversation addresses the question of whether AI will replace accountants, with Eric emphasizing the irreplaceable human touch in business advising. Tune in to explore how DACA is revolutionizing accounting practices and paving the way for a more efficient and value-centric future. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Eric's Website: https://dokka.com

Welcome to the Escaping the Accountants Trap podcast, a resource designed to liberate accountants, CPAs, and bookkeepers from the notorious 'accountant's trap.' This frustrating predicament often sees professionals toil endlessly with demanding clients for meager compensation. But fear not, as this podcast unveils the escape route. In this episode, we explore the critical strategy of thoroughly assessing prospective team members through testing before hiring, ensuring you welcome the right individuals aboard. Join Adam Lean in this insightful journey to emancipate accounting professionals from the accountant's trap. Discover the key to unlocking your team's full potential as we delve into the world of assessing remote talent. In this episode, we welcome Giles Pearson, the CEO of Account Test, a solution dedicated to enhancing the hiring process for accountants. We explore why it's paramount for accounting firms to test prospects before extending an offer. A recent survey highlighted that a significant 85% of college degree holders falsify their resumes, making the hiring process a minefield. Discover how testing not only reveals the true capabilities of prospective candidates but also streamlines their integration into your team. Giles Pearson, with his extensive background in public accounting, provides invaluable insights into this innovative approach. Don't miss this episode, which provides a path for escaping the accountant's trap, and find out how to tap into the immense potential of remote talent. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Giles' Website: https://www.accountests.com/

Welcome to the "Escaping the Accountant's Trap" podcast, a show dedicated to helping accountants, CPAs, and bookkeepers break free from the constraints that prevent them from realizing their true worth. In this episode, we're addressing a crucial topic: "Solving Talent Challenges Through Remote Accountants." The latest episode delves into a powerful solution – hiring US-based remote accountants, with Jeff Phillips, co-founder of AccountingFly, providing expert insights. This episode reveals the advantages of embracing remote work, how it allows firms to tap into a broader candidate pool, and the significance of adjusting your hiring strategy to incorporate remote talent. It emphasizes the importance of not just delegating tasks but also transitioning to a mindset where you build systems for efficient service delivery. If you're an accountant looking to enhance your career or a firm aiming to solve talent challenges, this episode offers valuable advice and solutions. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Jeff's Website: https://www.accountingfly.com/

Welcome to the dynamic "Escaping the Accountant's Trap" podcast, your go-to resource for accountants, CPAs, and bookkeepers seeking liberation from the "accountant's trap" where their expertise goes undervalued, and their hard work yields meager returns. Today, we've got an exciting episode in store where we unravel the key to breaking free from this predicament - transitioning your practice into a thriving business. Our special guest, Martin Bissett, an esteemed advisor to accountants, will be your guide on this transformative journey. In this episode, we venture into the distinction between an accounting practice and a full-fledged accounting business. Many start with an accounting practice, trading hours for money and grappling with pricing and profitability concerns. But there's a powerful shift awaiting those who dare to dream big. Martin Bissett reveals that ambition is the game-changer. Accounting businesses are on a mission to excel, grow, and gain financial independence. They build structures and leadership roles, moving away from the traditional time-based model. This episode serves as a beacon, inspiring accountants to harness ambition, step boldly out of the accountant's trap, and embark on a transformational journey. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Martin's Website: https://bissettgroup.com

Welcome to 'Escaping the Accountant's Trap' podcast, a valuable resource for accountants, CPAs, and bookkeepers seeking to break free from the constraints of what we term the accountant's trap. In today's episode, we explore a game-changing solution – the buying and selling of accounting firms. Join us as we sit down with Jason Blumer, CEO of Thriveal, an organization dedicated to empowering entrepreneurial accountants and bookkeeping firm owners to embrace innovative and creative approaches within the profession. Thriveal serves as a supportive community for professionals who are unafraid to push boundaries, experiment with fresh strategies, and work through the challenges of entrepreneurship together. The conversation delves into the hot topic of private equity firms acquiring larger accounting firms and the characteristics that make a firm an attractive prospect. Moreover, we discuss the prospects and advantages of growing your firm through acquisition. Amidst current industry challenges and opportunities, it's an exciting time for accounting professionals to fortify their positions and emerge as industry leaders. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Jason's Website: https://thriveal.com/

Welcome to the Escaping the Accountants Trap podcast. If you're an accountant, CPA, or bookkeeper looking to break free from the "accountant's trap" and unlock your true potential, you're in the right place. In today's episode, we delve into the key to your escape: streamlining your operations for a VIP client experience and reclaiming your valuable time. Join our guests, Jessica Smith and Jamie Gruol, founders of Workflows for Tax Pros, as they share their expertise on automating workflows to boost profitability and regain your work-life balance. Say goodbye to long hours, endless emails, and high-stress seasons. Let's get started on your path to success. Discover the power of automation and learn how to create custom workflows tailored to your specific needs. From client onboarding to return preparation, this podcast will equip you with the tools to revolutionize your accounting practice. Join our thriving community at Workflows for Tax Pros to explore real-world solutions, and turn your practice into a well-oiled machine. Subscribe now and be sure not to miss our upcoming episodes, packed with actionable advice for accounting professionals. Don't let the "trap" hold you back any longer; it's time to elevate your accounting career and experience true freedom. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Jamie & Jessica's Website: https://www.workflowsfortaxpros.com

Welcome to the "Escaping the Accountant's Trap" podcast, where we help accountants, CPAs, and bookkeepers break free from the relentless cycle of overwork and undercompensation. In today's episode, we are thrilled to have Leslie Leondas, an expert in liberating accountants from the grind. Leslie specializes in helping accounting professionals break free from the conventional model that often chains them to long hours and low pay. She's here to share her insights on how to escape this common dilemma and scale your accounting business to new heights. Are you stuck in the hamster wheel, working tirelessly without reaping the benefits you deserve? Leslie and our host, Adam Lean, delve into the strategies that can lead to sustainable growth in your accounting practice. Leslie has transformed her own CPA firm, breaking free from traditional models and helping accountants navigate this transition. Don't miss this valuable discussion on creating systems, building a team, and changing the game in the accounting industry. Stay tuned and unlock the key to unleashing your accounting business's full potential. Learn More About The CFO Project: https://thecfoproject.com/ And check out The CFO Project's free training here: https://thecfoproject.com/start-a-cfo-service Visit Leslie's Website: https://liondascpa.com/