Guy Pearson, founder of Practice Ignition, turned down an offer of partnership in an accounting firm at age 24 to travel around the world for a year. After running out of money, Guy returned to Australia and started an accounting firm out of his house. He set out to automate the firm right out of the gate and built a business that could scale up on its own. That meant Guy could very quickly go off and start a software company called Practice Ignition while running his firm on the side.
Geni Whitehouse [LinkedIn] shares how her CPA firm carved out a niche serving the wine industry — not just with marketing mumbo jumbo but with a proprietary industry scorecard that created real value for her clients. We discuss what's holding firms back from offering more consulting services, and how to build confidence as a public speaker when you're natural nerdy and shy.
Matt Paff joins the podcast to discuss what he means by his article "Hey Mid-Market, Xero and Intuit are coming!" on Digital First. We learn about the vary definitions of the term "mid-market" between the United States and Australia, why mid-market vendors need to wake up and start innovating fast, and how Matt's background in mid-market software gives him insight into the future of software and the accounting profession.
Tom Gabbert joins the podcast to talk about the "m" in mAccounting (it stands for "mobile"), why he's looking to hire "people people" (not just number crunchers), his efforts to "turn accounting from a necessary evil to a strategic advantage," the benefits of his firm's shift to cloud accounting, where the profession is heading, the emergence of outsourced accounting services, what needs to change in accounting education, how Tom is creating the firm and life he wants, and more.