Building the Premier Accounting Firm
Roger Knecht
Recent Episodes
On this edition of Building the Premier Accounting Firm, Roger Knecht and Laura Shepherd, founder of Momentum BK, discuss pricing strategies for accounting firms, focusing on Shepherd's "Pricing with Purpose" philosophy.
Learn how to categorize services, build confidence, and avoid common pricing pitfalls to grow your accounting business.
In This Episode:00:00 Introduction to Pricing with Purpose 03:49 Categorizing Accounting Services for Pricing 08:42 Deep Dive into Service Categories 14:43 Mindset Shift for Accounting Professionals 19:05 Real-World Pricing Success Stories 24:38 The Importance of Confidence and Explanation 29:45 Entrepreneurial Journey and Gratitude 34:29 Future Goals and Elevating the Profession 38:40 Closing Thoughts and Call to Action 42:45 Podcast Conclusion and Resources
Key Takeaways:-
Assess your services to define clear value for clients.
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Categorize offerings into task management, compliance, and advisory for transparent pricing.
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Adopt an entrepreneurial mindset to confidently set and explain your fees.
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Understand specific client needs and industry compliance for accurate pricing.
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Leverage clear communication to build client trust and increase revenue.
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"If I can't explain it, it doesn't exist." - Laura Shepherd
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"You're not a bookkeeper. You are an accounting entrepreneur who provides bookkeeping services." - Laura Shepherd
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"I want to create more opportunities to reach those people where they are." - Laura Shepherd
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Pricing with Purpose: Understand and articulate the value of your services to clients, moving beyond arbitrary fee setting.
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Service Buckets: Segment services into necessary, compliance-based, and advisory levels to offer clear, structured pricing.
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Entrepreneurial Mindset: Adopt the perspective of a business owner to manage profitability and confidently communicate your worth.
Conclusion:
Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here.
Sponsors:
-
Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.
Offers: With the purchase of the Pricing with Purpose Webinar & Workbook ($49.00)
https://momentumbk.com/pricing
And receive the bonus tool of "Pricing with Purpose Checklist".
https://drive.google.com/file/d/1BPqND-4q8cHaY1_KE_5NptxwrWY8DL6r/view?usp=drive_link
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:
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"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.
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"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.
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"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.
In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a:
Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business.
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Topical Newsletters:
Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value.
For Additional FREE Resources for accounting professionals check out this collection HERE!
Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss.
Remember this, Accounting Success IS Universal.
Listen to our next episode and be sure to subscribe.
Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback
For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777
Join us as we revisit this conversation from 2021!
There are 3 key elements when explaining accounting services so that business owners can understand the value of the work we do, and Ken helps us understand why we need to emphasize each of them in our marketing.
As Ken and Roger speak, we are also reminded that this is a personal business. Even more important than the accounting skills we use to take care of our clients it's the relationships we build that are equally important.
Consider this, Ken shares an interesting perspective, think of tax like this: "Taxes I like the report card on the test you took last year." So with that in mind, how do you work with your clients to help them score the best they can year after year.
Listen in and enjoy this next episode of Building the Premier Accounting Firm.
Your Host: Roger Knecht, president of Universal Accounting Center
Guest Name: Ken Mann
Ken Mann, along with his wife Gina Mann, EA, CFP®, own Freedom Financial Solutions LLC. Ken is a Profit & Growth Expert, helping his clients to increase their profits, reduce their taxes, so they can have money in the bank when they need it. Ken and Gina specialize in small business 100% accounting and IRS/NYS tax problem representation. Ken is an Intuit Certified QuickBooks ProAdvisor in both the desktop and online versions. Ken does private QuickBooks training, company setup, and specializes in catch-up and cleanup projects.
Sponsors:
- Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.
Offers:
In the episode we heard Ken share they have been leveraging Facebook to grow the business and get clients. It's intentional and deliberate. Just this last year, 40%+ have come from Facebook alone.
Learn more how you can use social media to get the tax and accounting clients you deserve. Understand how an effective accounting tech stack can help you automate the process and manage the leads you receive through the nurture process to become paying clients.
Attend this Strategic Webinar TODAY!
This is just part of the journey of becoming an Accountrepreneur. Ken was great at sharing his journey from tax specialist to becoming a bookkeeping and QuickBooks Specialist. See how this also applies to your journey as you build the premier accounting business in your area.
Also, join the community of accounting professionals within Facebook in this closed group, the Accounting & Bookkeeping Tips group.
For Additional FREE Resources for accounting professionals check out this collection HERE!
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 801.265.3777
In this episode of Building the Premier Accounting firm, host Roger Knecht discusses building a premier accounting firm with guest Lahari Neelapareddy, founder of Tax Hero and LN Accounting Advisors. They cover Lahari's journey from public accounting to specializing in e-commerce and consumer packaged goods, emphasizing the value of niche marketing and advisory services over traditional compliance work. Lahari shares insights on sustainable growth, avoiding burnout, and the importance of continuous learning for accounting professionals.
In This Episode:00:00 Introduction and Guest Spotlight 01:43 From CPA to Entrepreneur 03:13 Starting an Accounting Firm 07:14 Small Business Accounting Challenges 08:52 Evolving Service Offerings and Specialization 12:33 Niche Marketing and Tax Hero 17:32 CFO and Advisory Services 20:24 Defining CFO Advisory Value 26:15 Client Relationships and Pricing 29:58 Lessons Learned: Sustainability Over Growth 33:23 Closing Thoughts and Resources
Key Takeaways:-
Specialize in a niche industry to enhance marketing and scalability, as Lahari did with e-commerce and CPG brands.
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Prioritize value-added services like CFO and advisory over compliance work to increase client retention and pricing.
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Define clear service packages and scope of work to manage client expectations and minimize scope creep.
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Focus on sustainable growth, emphasizing efficiency and maintaining passion to avoid burnout, rather than solely chasing rapid revenue.
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Continuously Learn through podcasts, mastermind groups, and peer interactions to stay updated and avoid reinventing processes.
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"I didn't think I would start an accounting firm. Because when I thought of people that owned accounting firm, I only thought tax, right? Like people that are CPAs that do tax returns at their desk. And the image is like very boring is the image that most people get, right?" - Lahari Neelapareddy.
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"I wanted to add value to my clients. I think that was always there. And the second thing was like, I wanted like a good work culture that I think is maybe still lacking in big four and the public accounting world, but definitely was lacking in the time that I was there." - Lahari Neelapareddy.
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"Sustainability over growth sometimes, right? Because growth will come automatically, but you need to make sure that you don't lose that passion and that you're sustaining it." - Lahari Neelapareddy.
Conclusion:
Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here.
Sponsors:
-
Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.
Offers: I'd love to offer two resources to your audience. First, a free discovery call—whether you're an e-commerce business wanting to simplify sales tax or an accountant interested in partnering with us, you can book a time with me at https://taxhero.net/contact/#demo
Second, you can download our up-to-date Economic Nexus Chart, a quick guide to understanding sales tax nexus across the US, at https://taxhero.net/blog/economic-nexus/#download
For more information related to Lahari consider the following:
TaxHero: https://taxhero.net/, and LN Accounting: https://www.lnaccountingadvisor.com/
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 you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a:
Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business.
-
Topical Newsletters:
Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value.
For Additional FREE Resources for accounting professionals, check out this collection HERE!
Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss.
Remember this, Accounting Success IS Universal.
Listen to our next episode and be sure to subscribe.
Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback
For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777