Doreen Binkiewicz: Effective Succession Planning

Show Summary: In this episode of the Grow My Accounting Practice podcast, Doreen Binkiewicz, founder of DGL Business Solutions and Certified Profit First Professional, dives into the vital components of exit planning and succession strategies for business owners. She explains how these strategies are not necessarily retirement plans, but rather a way for owners to harvest the value of their business when the time is right. The key, according to Doreen, is making sure that the business is transferrable—meaning it can operate independently of the owner—ensuring long-term value and success. Doreen highlights the critical difference between "business attractiveness" and "business readiness." While business attractiveness refers to how appealing a company looks to outsiders, business readiness focuses on internal operations and the company’s ability to function efficiently without the owner. Both elements play a crucial role in determining the real value of a business and its ability to sell or transfer ownership. Doreen also touches on the importance of financial allocation, a concept central to Profit First principles, where money is separated into different accounts, much like Mike Michalowicz’s money envelope system. This helps business owners manage their natural spending tendencies, building profitability and business value. By meeting clients where they are—whether they are exploring, pivoting, or triggering—Doreen emphasizes the importance of clarity, liquidity, and legacy in crafting a long-term, winning business strategy.   Website:www.DGLBusinessSolutions.com   Corporate Partner: People Processes - https://peopleprocesses.com/

Show Summary: In today’s episode of the Grow My Accounting Practice podcast, we are joined by Rhamy Alejeal, owner of People Processes, to explore how HR can supercharge profitability for businesses. Rhamy explains why accountants should pay close attention to their clients' HR strategies and highlights the often-overlooked overlap between accounting and HR functions. By aligning these two areas, accountants can not only provide better financial insights but also help their clients drive growth and efficiency in their workforce management. Rhamy shares real-world examples of how CFOs have transformed their businesses by integrating People Processes' HR solutions. He explains the significant ROI that companies have seen by focusing on high-impact HR actions, such as investing in employee development, enhancing recruitment practices, and automating routine HR tasks. These changes help businesses reduce costs, improve employee retention, and ultimately, boost profitability. As the year draws to a close, Rhamy also touches on critical HR compliance updates that accountants should bring to their clients' attention. By staying proactive and informed, accountants can offer valuable advice that not only ensures legal compliance but also strengthens their client relationships and positions them as trusted advisors. Tune in to learn how optimizing HR can be a game changer for your clients’ bottom line!   Website:https://peopleprocesses.com/ LinkedIn:https://www.linkedin.com/company/peopleprocesses/ Youtube:https://www.youtube.com/@peopleprocesses   Corporate Partner: People Processes - https://peopleprocesses.com/

Show Summary: In today's episode of the Grow My Accounting Practice podcast, Vivek Shankar joins us to dive deep into a critical yet often misunderstood topic: how accounting firms can build a differentiated brand. Vivek highlights the gap many firms face—they’re constantly told they need to build a brand, but rarely shown how to do it effectively. He emphasizes that brand building isn’t about amassing millions of followers; it's about getting business results. Accounting firms don’t need to be household names to stand out; they just need to build a brand that resonates with their ideal clients. Vivek takes listeners through the steps of understanding their ideal customer. He explains that knowing your audience is key to crafting a brand message that connects with them. By gaining deep insights into what your target market truly wants and needs, firms can create content and branding that positions them as the go-to experts in their niche. Vivek shares practical tips for busy founders on how to create impactful, standout content without overwhelming their schedules. The episode also covers strategies for determining which content format works best for different personalities and brands. Whether it's blogs, podcasts, videos, or social media posts, Vivek offers a framework to help founders choose the right path. His approach is all about simplifying content creation, making it easier for accounting firms to build and maintain a unique brand that attracts clients and drives business growth.   Website:https://www.vivekshankar.net/ LinkedIn:https://www.linkedin.com/in/vivek-shankar-content/ Corporate Partner: People Processes - https://peopleprocesses.com/

Show Summary In today’s episode of the Grow My Accounting Practice podcast, Mark Evans shares his insights on business growth and building businesses remotely. Mark reveals how he completed thousands of real estate deals without ever meeting sellers and buyers face-to-face, showcasing the power of remote operations. He also dives into his entrepreneurial journey, including how he traveled the world for seven years while growing his business. Mark discusses the common challenges entrepreneurs face, how to overcome them, and why understanding the different "seasons" of business is crucial for long-term success. Tune in to learn how to navigate business growth and scale your success!   Website:www.MarkEvansDM.com Instagram:https://www.instagram.com/markevansdm/?hl=en   Corporate Partner:People Processes - https://peopleprocesses.com/

Show Summary In this episode of the Grow My Accounting Practice podcast, Michael Agugliaro, a mindset and accountability expert, delves into the profound connection between mindset, accountability, and business success. Michael shares how developing the right mindset and holding oneself accountable can significantly impact a business owner's ability to thrive. He emphasizes that success in business often begins with mastering one’s thoughts and habits, which in turn influences decision-making and long-term growth. Michael discusses the common mindsets he has observed in the most successful people he has worked with. He explains how listeners can adopt these mindsets to create similar success in their own lives and businesses. He also highlights the crucial role accountability plays in achieving personal and professional goals, drawing from his own experiences in earning black belts and writing a book. Through actionable insights, Michael shows how accountability can be a powerful tool for creating meaningful change. As the conversation shifts to the current economic climate, Michael addresses the fear many clients face due to media influence. He offers practical advice on how accountants and business owners can guide their clients to make sound financial decisions despite the uncertainty. Michael concludes by encouraging listeners to focus on overcoming challenges and embracing growth, sharing strategies for staying resilient and motivated in both life and business.   Website:https://fudoggroup.com/ Facebook: https://www.facebook.com/michael.agugliaro.3 Instagram:https://www.instagram.com/michaelagugliaro/   Corporate Partner:People Processes - https://peopleprocesses.com/  

Show Summary In today's episode of the Grow My Accounting Practice podcast, we are joined by Jemel Smith, a seasoned accountant and business owner who is passionate about helping companies achieve sustainable growth and profitability. Jemel shares his journey of becoming a Fractional CFO, where he leverages his deep financial knowledge to guide business owners toward success. With a unique understanding of both the financial aspects and the challenges of running a business, Jemel offers valuable insights into why many businesses struggle with profitability and cash flow. Jemel discusses how his dual expertise as an accountant and business owner allows him to quickly identify the root causes of financial problems in a company. He explains the importance of addressing these issues head-on and shares strategies that have helped him turn struggling businesses into thriving ones. His approach goes beyond just balancing the books; it's about creating a holistic plan that ensures long-term growth and profitability. Throughout the episode, Jemel emphasizes his mission to help as many business owners as possible achieve financial success. Whether you're an entrepreneur struggling with cash flow or looking to take your business to the next level, Jemel's expertise as a Fractional CFO offers actionable solutions that can make a real difference. Don't miss this episode if you're ready to transform your business and secure its future.   Website:https://jemelsmith.com/ Facebook: https://www.facebook.com/smith.jemel LinkedIn:https://www.linkedin.com/in/jemelsmith/   Corporate Partner:People Processes - https://peopleprocesses.com/

Show Summary In this episode of the Grow My Accounting Practice Podcast, Katie Richardson shares her profound insights on how business owners can achieve both business growth and personal fulfillment without sacrificing family life. She kicks off the conversation by discussing how to create the life you've always envisioned, even if your schedule is packed. Katie emphasizes that it’s not about finding extra time but about strategically aligning your life and business with your deepest desires, enabling you to thrive in both areas simultaneously. Katie introduces a unique strategy that turns both the positives and negatives of your current situation into powerful catalysts for hitting your goals faster. She explains how this approach allows entrepreneurs to progress without the frantic energy that often leads to burnout. By balancing commitments, such as attending your son’s soccer game, with professional responsibilities, Katie shows that it’s possible to excel in business without compromising family priorities. She also shares her insights on building a highly productive team that not only supports you but also drives the business forward, allowing you to focus on higher leverage activities. Lastly, Katie delves into the concept of parabolic growth, emphasizing the importance of leaving behind what’s dragging you down. She provides actionable tips on how to lead powerfully, enabling you to accomplish more in 90 days than most people do in an entire year. Her strategies focus on maximizing impact with efficiency, ensuring that both your business and personal life flourish together. This episode is a must-listen for anyone looking to grow their business while maintaining a fulfilling personal life.   Instagram:  http://www.instagram.com/katie.live/ @katie.live Facebook:http://www.facebook.com/katie.c.richardson/ @katierichardson.live Testimonials: https://now.katierichardson.com/casestudy Website:https://katierichardson.com/ Podcast:https://podcasts.apple.com/us/podcast/whats-working-now/id1515291698   Corporate Partner:People Processes - https://peopleprocesses.com/

Show Summary In today's episode of the Grow My Accounting Practice podcast, we are joined by Nathan Rigney, who shares invaluable insights on "Mastering Growth: Expert Strategies for Entrepreneurs and Accountants." Nathan discusses how entrepreneurs can transform their ventures into profit-generating businesses. He emphasizes the importance of recognizing the shift from being a technician to embracing the role of a business owner, detailing the mindset and strategic changes necessary for this evolution. Nathan also highlights the critical role of continuous education beyond formal degrees. He provides practical advice on how entrepreneurs and accountants can continue to learn and develop professionally without incurring significant expenses, stressing that growth in knowledge directly contributes to business success. Additionally, Nathan talks about the analogy of a football team having a coach, questioning why many business professionals neglect this advantage. He advocates for the benefits of coaching in navigating the complexities of business management and personal development. The episode wraps up with a deep dive into readiness for business life, where Nathan poses challenging questions about what it truly takes to be self-employed. He encourages listeners to assess their preparedness for the demands of running a business, from financial acumen to emotional resilience. This session is packed with actionable strategies aimed at fostering substantial growth and ensuring sustainability in the competitive world of entrepreneurship and accounting.   Website: www.ngraccounting.com.au Instagram: @ngraccounting LinkedIn: @nathan.rigney Facebook: @ngraccounting YouTube: @ngraccounting   Corporate Partner:People Processes - https://peopleprocesses.com/

Show Summary In this enlightening episode of the Grow My Accounting Practice Podcast, we dive into the world of sponsorships with Justin Moore, a seasoned Sponsorship Coach and the founder of @CreatorWizard. Justin addresses a common misconception right off the bat, discussing whether non-dancers can secure sponsorships on platforms like TikTok. His insight into the diverse nature of sponsorships beyond typical expectations sets the stage for a dynamic conversation about leveraging personal and brand strengths in various digital spaces. The discussion then shifts to the finer details of sponsorship strategy, where Justin outlines the pitfalls of the wrong way to pitch to potential partners. He emphasizes the importance of understanding the brand's values and aligning your pitch accordingly, which is crucial for making a lasting impression. Justin also shares his expertise on how to price partnerships effectively, ensuring that creators and influencers do not undersell their value or overshoot market expectations. This segment provides invaluable advice for anyone looking to monetize their influence. Finally, Justin talks about the strategies for winning repeat partnerships, highlighting the significance of post-campaign reporting and the role it plays in maintaining long-term relationships with brands. He teases his forthcoming book, "Sponsor Magnet," which promises to be a comprehensive guide to becoming a sought-after name in the world of sponsorships. This episode is packed with actionable tips and is a must-listen for creators looking to expand their sponsorship opportunities and for businesses aiming to enhance their influencer engagement strategies.   Newsletter:  https://pages.creatorwizard.com/join Website: https://www.creatorwizard.com/ YouTube: https://www.youtube.com/c/creatorwizard   Corporate Partner:People Processes - https://peopleprocesses.com/

Show Summary In today's episode of the Grow My Accounting Practice podcast, we're thrilled to welcome Amy Baltimore, a seasoned accountant who has revolutionized her financial landscape through disciplined strategies. Amy shares her transformative journey from facing annual losses of tens of thousands of dollars to generating over $300,000 in income. Her remarkable turnaround involves not only clearing all her debt but also implementing key principles from "Profit First," "Pumpkin Plan," and "Clockwork" to reshape her business operations. Amy delves into the bold steps she took to achieve financial freedom and operational efficiency. By cutting 75% of her clientele and reducing her expenses by 50%, she realigned her business to serve her better both professionally and personally. These changes allowed her to reduce her workweek from grueling 80-hour weeks to a more balanced four-day schedule. Her story is a powerful testament to the impact of strategic decision-making and prioritization in business. Furthermore, Amy discusses the life-changing benefits these adjustments have brought her, including the ability to take a month-long vacation in 2023 without jeopardizing her business's functionality or profitability. Her experience illustrates the profound impact that structured financial planning and targeted business strategies can have, not just on a company's ledger, but on the personal life of its owner. Amy's insights provide invaluable lessons for our listeners on how to harness similar strategies to transform their own practices and achieve substantial, sustainable growth.   Website:www.amybaltimorecpa.com   Corporate Partner:People Processes - https://peopleprocesses.com/