Industrial Growth Institute Podcast的动态

What's the difference between a bean counter and a number cruncher? Between a number cruncher and an accountant? Between an accountant and a strategic finance advisor? Turns out quite a bit as Mike Sibley, CPA shares in a fascinating recent episode of the Industrial Growth Institute Podcast with host Ed Marsh ????. Mike is the manufacturing team lead at James Moore & Co., and he shares his background in accounting, his journey from Vermont to Florida, his fascination with manufacturing, and lots of inside baseball on how financial statements should help the owners and operators of industrial manufacturing firms make sound business decisions - all with an eye on valuation. They talk about why accountants so often reflexively advise firms to slash marketing, how he sees a difference in performance between firms with sales teams that are order takers vs. others that are problem solvers, and why he took his team of professional services folks through sales training. Listen to the full episode for lots of wisdom and insight from Mike. #Accounting #StrategicFinance #ManufacturingFinance #FinancialStatements #ManufacturingMarketing #IndustrialMarketingBudget #B2BSales #IndustrialSales https://hubs.ly/Q02_VBDQ0

Why do so many accountants reflexively advise industrial manufacturing firms to slash marketing investment at the first sign of any slowdown (not to mention to keep it small in good times?) That's one example of the questions I asked Mike Sibley, CPA, leader of James Moore & Co.'s manufacturing practice on a recent episode of the Industrial Growth Institute Podcast. Our conversation was broad and deep - from why he took his team of accounting professionals through sales training recently, the difference he observes in clients' success depending on their teams' sales proficiency, the importance of a valuation mindset, and why he was so drawn to manufacturing. We also talk about process. Process at the core of GaaP and accounting. Process at the core of manufacturing and operations. And the opportunity for process improvements in manufacturing marketing and industrial sales. Tune in for tips, insights, perspective and wisdom from Mike. #Accounting #StrategicFinance #ManufacturingFinance #FinancialStatements #ManufacturingMarketing #IndustrialMarketingBudget #B2BSales #IndustrialSales

As a CFO, how do you balance rapid growth and resource management? We all know there’s a thin line between rapid business growth and blowing out your resources. The former can lead to operational inefficiencies, financial instability or even business failure. A good CFO helps drive the business in the direction of growth while mitigating situations that can overextend resources to a breaking point. One outstanding CFO, Sarah Lawrance FCPA discussed how she achieves this on the Accounting Apps podcast, a podcast for accounting technology enthusiasts (link in the comment section). Sarah Lawrance is the 2023 Australian CFO winner of the year and CEO of Hot Toast, an accounting service that caters to companies in the creative industry. While speaking with Heather Smith, an accountant and the prolific author of 'Xero for Dummies' on the Accounting Apps podcast, Lawrance revealed how she successfully grows businesses in the creative and tech startup industries. Here’s a concise breakdown of her strategy: ? Lawrance ensures her team stays true to the strategy because it’s easy to fall prey to the “shiny object” syndrome when the company is growing that fast. She uses the analogy “boring business is sexy business” to buttress this point. ? She’s always ready to have the hard conversations: She’s able to move the team towards the direction of looking at the benefits and the opportunity costs when making decisions. ? Lawrance implements an accountability strategy, sharing regular updates with the team and obtaining frequent feedback as well. ? She leaves room for flexibility because you also have to be quite nimble in a fast-growing business landscape. By embracing these principles, you can lead your organization through periods of rapid growth without sacrificing stability and sustainability. Remember, the role of a CFO is not just about managing numbers but also about steering the company towards long-term success. Are you a CFO or aspiring to be one? What strategies have you found effective in balancing growth and resource management? Share your thoughts and join the conversation! #accountingandaccountants #cloudaccounting #AccountingTech

????? Some skills bring growth in one area. Other skills bring growth in LOTS of areas. Like the one Joey Kinney, CPA talks about here: “Jeff is the real deal. He’s transformed the way I think about storytelling, and his lessons resonate through every deliverable we create. Seriously, work with him.” If I say the word “story,” and you think: ? “Oh, that’s just a random thing that’s nice to have, but it’s not important for business” – Hear me on this: ??Then you do not yet understand how monumentally powerful the concept of story is when it’s applied to human interaction and human connection. MOST PEOPLE DON’T. Yes, you can use it to talk about what you did over the weekend –?that’s the boots-on-the-ground version that I call Tactical Story. But when you apply story as a framework to understand and guide any and all human interaction… that’s the 30,000’ view that I call Strategic Story. THAT is why Joey is able to say that understanding story has affected every single deliverable he and his team create. And they’re not spinning tall tales over a campfire – Joey and his team at Summit Virtual CFO by Anders are onboarding 7 and 8-figure business clients, cleaning up thorny compliance issues, diagnosing and installing cutting-edge financial automation, and delivering high-level guidance to help their clients’ businesses thrive. And understanding story has changed every single deliverable they ship. -- If you want to learn more about what’s truly possible through the lens of Strategic Story, check out my Featured Links section for “Speaking of Numbers: Communication Strategies for Accounting Advisors.” It’s a handful of podcast episodes that lay out the core concepts I use with all my clients. These ideas are more powerful than you know. -- ???? I’m Jeff. I help accounting firms elevate their communication to amaze their clients, empower their people, AND build revenue. If you’d like to talk about what that might look like for you or your firm, shoot me a DM, and let’s talk.

We are hearing a lot of noise about the promise of private equity in our profession. One of the touted benefits is hiring non-CPAs to lead CPA firms. This idea is a breath of fresh air. ?? Listen to this Accounting High podcast where @Scotty interviews Steven Hoffman, the CEO of OnPointe Advisors- for a perspective on this approach. Steven was hired for the CEO role by Ascend. We loved hearing about the implementation of the Entrepreneurial Operating System (EOS). Coaches also listen for what was not said. What we noticed: no mention of how the PE cash influx is actually helping the employees of this firm. As accountants, we can’t help but feel skeptical. ???? Curious about what PE could do for your firm? Listen and learn. https://lnkd.in/gCBmtcaT #consciousness #consciousprofessional? #accountingtransformation

PWC podcast on lease accounting just released (April 9, 2024) - very good information which you can listen to either in the gym, at work, etc. It covers topics related to lease modifications, remeasurements and impairments. See the link below. #usgaap #technicalaccounting #leaseaccounting #financialreporting #ASC842 #accountingadvisory

?????????????? ???????? ???????????????????? ?????????????? ?????????????????? ??????! Let’s talk about stepping up your accounting game! ?? Anyone can crunch numbers, right? But you have the chance to change what clients expect from their accountants. First things first, ditch that "compliance only" mindset. ?? Sure, it's a good way to get clients in the door, but if that's all you're offering, you'll need larger volume and a really efficient system if you want to grow. Shift gears and think of yourself as a strategic partner. ?? Your clients need real insight. Get involved in their business goals and challenges; show them you care about their success. Next, let’s get real about your services. Go beyond the basics and offer solid advisory support. ?? Whether it’s financial planning, tax strategies, or helping them manage cash flow, position yourself as their go-to ally. And hey, don’t shy away from pricing your services appropriately; your quality deserves to be recognized! ?? By doing this, you’re not just boosting your value but also raising the bar for the whole industry. ?? So, be bold, be confident, and own the premium services you offer. Your clients will not just appreciate it; they’ll come to expect it! ?? Embrace that role, and trust me, you’ll see your practice take off! You’ve got this! ?? Learn more about offering CFO services with Lukas Sundahl, CMA, CSCA, MBA at Accounting High wherever you find your podcasts! ?? ?? Check the comments below for links ?? #Shoperations #AccountingHigh #Accounting #Podcast #ShopClass #FirmOperations #SystemsAndProcesses #services #pricing #taxaccounting #anchoring #clientbenefits #compliancework #businesssuccess #clientrelationships #profitability #servicepositioning

Are you frustrated with the financial operations of your business, but can't quite pinpoint how to solve the problem? You probably need a controller in your life! In a recent podcast episode, Scotty Scarano ?????? and I break down... 7 signs you need a controller: 1. You have reporting challenges - Reports are often delayed, lack of detailed financial insights like profit by service line 2. You have cash flow management challenges - no transparency or control over cashflow, no process to manage vendor payments, slow collections 3. You have concerns about theft or fraud - no internal controls or approval processes to prevent stealing 4. You spend too much time on bookkeeper oversight - You constantly need to check the bookkeeper's work, you have a lack of confidence in the data 5. You have spend management challenges - difficulty delegating spend authority to employees, inefficient/manual expense reimbursement processes, lack of granularity into company spending (by department, by location, etc) 6. Your CFO spends too much time doing accounting procedures - they don't have time to focus on strategy 7. You have a 3rd party who relies on your financials - bank, investors, potential buyer If you are experiencing any of these pains, def check out the episode (link in comments). We also discuss how to find a controller and what type of background they should have. Let me know what you think about it! Nikole P.S. I've also included a link to my newsletter sign-up in the comments. I have one for business owners and one for accountants interested in learning about controllership/advisory.

Really interesting podcast about not only expansion through acquisition, but building a monthly subscription model for clients. Billing is always a big concern for accounting clients, and having a subscription model can ease their fears while smoothing out revenue for the accounting firm. On top of that, effective communication and solid systems hold it all together. #accountingandaccountants #systems #cpa

Really interesting podcast about not only expansion through acquisition, but building a monthly subscription model for clients. Billing is always a big concern for accounting clients, and having a subscription model can ease their fears while smoothing out revenue for the accounting firm. On top of that, effective communication and solid systems hold it all together. #accountingandaccountants #systems #cpa