It’s the “Influencers in Accounting” show, going live every Wednesday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space.
In today’s episode 18, “Accounting Firm Differentiation Tips: Tom Wheelwright.”
You can also watch this on youtube here: [link from spreadsheet]
Tax and wealth expert Tom Wheelwright is a CPA, CEO of WealthAbility®, entrepreneur, international speaker, the bestselling author of Tax-Free Wealth: How to Build Massive Wealth By Permanently Reducing Your Taxes. His latest book is The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make. He is the CPA for Robert Kiyosaki (Rich Dad Poor Dad) and has spoken on stage on every continent to over 100,000 entrepreneurs, small business owners and investors.
Tom hosts two popular podcasts: The WealthAbility® Show with Tom Wheelwright CPA and The WealthAbility® for CPAs Show. His goal is to help people achieve their financial dreams faster by permanently and legally reducing their taxes. He contributes to Entrepreneur magazine, and his work has been seen in Forbes, The Wall Street Journal, The Washington Post and on FOX and Friends, Marketplace / NPR, ABC News Radio and hundreds of other media outlets.
Key takeaways from this episode include:
➠ what has changed in the accounting profession over recent years (and what hasn’t but should have)
➠ what ‘Rich Dad Poor Dad’ author Robert Kiyosaki has taught his CPA about what’s important in building a business
➠ what happens to accounting firms and CPA practices who cannot or will not differentiate their brand (hint – they compete on price)
➠ the mistake accounting practices make in trying to attract all different kinds of clients
➠ what accountants and CPAs should do if the culture of the firm they work for does not fit their values and goals
➠ the biggest reason accountancy firms find recruitment of talent more difficult than it needs to be
➠ how differentiation your accounting firm brand gives you power to say ‘no’ to the wrong kinds of clients
➠ what selling a $800,000 book of ‘the wrong kind of business’ looks like for an accounting practice
➠ practical examples of what CPA or accounting firm owners might look for an an ideal client
➠ the relevance to accounting firms of tax laws being pretty similar from country to country
➠ innovative tax strategies for accountants to further help their clients
➠ how CPAs can improve their mental wellbeing and overcome the need to know everything
➠ shout out to Dan Sullivan’s term ‘uniquability’ in describing how accountants and CPAs can stand out
➠ how to be the accountant of choice for your client of choice and what turning down 80% of potential clients looks like
A reminder of 5 great shows in the Accounting Influencers Podcast Network:
❶ Success in Accounting – MONDAYS. Our flagship main show features panels, live interviews and replays of our most popular shows.
❷ Insights in Accounting – TUESDAYS. The best news, analysis, commercial awareness, news under microscope, podcast mentions and recommendations.
❸ Influencers in Accounting – WEDNESDAYS. Deep dive 1-1 interviews with leaders, experts, influencers from around the world.
❹ Best Practice in Accounting – THURSDAYS. Practice development, growth, management, consulting, examples, stories and practical here’s what works stuff for accountants, bookkeepers and the fintech/software people who serve them.
❺ UK Matters in Accounting – FRIDAYS. A UK focused show featuring UK related topics, news items, events and interviews.
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