Laurence Whittam: Outsourcing Readiness Assessment & Best Practices

Show Summary: In this episode of Grow My Accounting Practice, Laurence Whittam joins the show to discuss the essential steps firms should take before diving into outsourcing. He highlights the importance of conducting an outsourcing readiness assessment to ensure firms are fully prepared for the transition. Laurence explores key considerations, such as evaluating internal workflows, defining clear objectives, and understanding the different staffing models available, including outsourcing, offshoring, and nearshoring. By assessing their firm’s specific needs, accounting professionals can make informed decisions that align with their long-term goals. Laurence also sheds light on common pitfalls firms encounter when outsourcing, such as unclear expectations, poor communication, and lack of integration with existing processes. He shares best practices to help firms mitigate these challenges, including setting clear KPIs, establishing strong vendor relationships, and maintaining compliance with industry regulations. Whether you're considering outsourcing for the first time or looking to refine your current approach, this episode offers practical insights to help you make strategic, informed choices for your firm's success.   Website:https://impact-global.co/ https://deal.csuiteimpact.com/outsourcing-readiness-assessment-payment LinkedIn:https://www.linkedin.com/in/laurencewhittam/   Corporate Partner:Impact Global Solutions - https://impact-global.co/   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice Podcast, we are joined by Mary Kate Loftus, President of Impressia Bank, and Robin Mink, a founding member of its Steering Committee, to discuss the exciting ways Impressia Bank is redefining banking for business owners—especially women entrepreneurs. A newly established digital division of CNB Bank, Impressia Bank offers full-service banking products for both personal and business needs while focusing on innovative solutions to support Profit First Professionals (PFP) and their clients. The discussion highlights how Profit First Professional Erin Green (Trinity Growth Advisors) played a key role in educating the Impressia team about the Profit First cash management methodology. This inspired the development of a Profit First account package, tailored to help entrepreneurs implement and streamline their cash flow allocations. Additionally, Impressia Bank introduced a Multi-Transfer Percentage Tool within their eBanking system to simplify PF allocations and ensure users can effectively follow the methodology. Beyond Profit First, Mary Kate and Robin discuss Impressia Bank’s mission to redefine the client-bank relationship and tackle the gender gap in funding to support and advance women in business. They share how the bank is innovating to provide resources, education, and support to empower female entrepreneurs while ensuring financial clarity and success. Tune in to learn more about how Impressia Bank is reshaping the future of banking for women and Profit First adopters alike!   Website: www.impressiabank.bank Corporate Partner:Impressia Bank - https://impressiabank.bank/   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice podcast, Debbie Deknight, founder of Right Way Profits and Bookkeeping and a Profit First Master Certified Coach, dives deep into the true meaning of profitability and why it’s more critical than most business owners realize. She starts by challenging the common perception of profitability as a mere number on a P&L statement. Debbie explains that profitability goes beyond accounting figures and impacts every facet of a business, from daily operations to long-term sustainability. Debbie explores how low profitability can quietly undermine a business’s future. She emphasizes the ripple effects profitability has on key stakeholders, including employees, clients, and even the owner's family. With thought-provoking insights, Debbie discusses why profitability is not just about survival but about thriving—especially for those planning to sell their business or pass it on to the next generation. She shares advice on how to evaluate and strengthen your profitability to create a business that can weather challenges and leave a lasting legacy. Whether you’re a business owner striving for financial clarity, an accountant advising clients, or an entrepreneur planning for the future, this episode is packed with valuable insights. Tune in to learn why profitability means more than just numbers—and how prioritizing it can transform your business and your life.   LinkedIn:https://www.linkedin.com/in/debbiedeknight/ Facebook:https://www.facebook.com/profile.php?id=100092724944784 Corporate Partner:Cash Flow Mike - http://www.cashflowmike.com/   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of Grow My Accounting Practice, Danielle Mulvey shares her 5-Star Employee Hiring System™, a proven method to recruit, hire, and retain top-tier talent. Learn how to identify the right candidates, avoid costly hiring mistakes, and build a dream team that drives profitability and success. If you're ready to transform your hiring process and create a team that works better than you could alone, this episode is a must-listen!   Website:www.hairisonfire.com www.profitfirstnation.com Corporate Partner:Relay - www.relayfi.com   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice podcast, Jeremiah Baker—author of Confessions of a Hacker—reveals how he spent the last 17 years ethically hacking into companies’ networks and web applications to identify vulnerabilities before cybercriminals do. He discusses the most common and damaging cyberattacks targeting individuals and businesses today, from phishing schemes to ransomware, and explains how these threats can cause significant financial and reputational harm if left unaddressed. Jeremiah also outlines practical steps that anyone can take to strengthen their cyber defenses, including recognizing suspicious emails, implementing multi-factor authentication, and updating systems and software regularly. Whether you’re part of a larger firm or a solo practitioner, you’ll learn why proactive cybersecurity is essential for protecting sensitive data, maintaining trust, and staying ahead of rapidly evolving threats. LinkedIn:https://www.linkedin.com/in/jeremiahbaker/ Corporate Partner:Impressia Bank - https://impressiabank.bank/   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice podcast, Victor Lopez, CEO of FlexPoint, shares the story behind the creation of this groundbreaking payment solution. Drawing from his extensive experience in the financial industry, Victor discusses the unique insights that inspired FlexPoint, the key challenges it solves for small and medium-sized businesses, and how it stands apart from other solutions. He also shares his vision for the future of FlexPoint and its role in transforming the way SMBs manage their finances. Don’t miss this insightful conversation about innovation, efficiency, and the future of financial technology!   Website:www.getflexpoint.com Corporate Partner:FlexPoint - http://www.getflexpoint.com   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice Podcast, Cara Moeller Poppitt, a top-tier entrepreneur and leadership coach, shares her transformative insights on bridging the gap between mindset and business goals. Cara explains why most professionals fail to achieve the results they desire—because their mindset is misaligned with their ambitions. She challenges the traditional confidence model, showing how waiting for confidence keeps you stuck in hesitation and missed opportunities. Instead, Cara emphasizes that confidence is built through action. Feeling stuck? Cara reframes it as a sign that you’re on the brink of significant transformation. Listeners will gain actionable insights from Cara’s Cycle of Change Model, a groundbreaking framework that redefines personal and professional growth. She also teases her upcoming book, Big Freakin' Change, set to release on June 17, 2025, and now available for pre-order on Amazon. This episode is packed with wisdom and practical tools to help you break through barriers and embrace lasting change.   Website:www.carapoppitt.com www.bigfreakinchange.com Corporate Partner:Miles Talent Hub. - www.mileseducation.com   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice Podcast, Jason Petro and Richard Maxwell take us behind the scenes of the Profit First App. They share insights into how this powerful tool simplifies cash management and helps businesses implement the Profit First methodology seamlessly. Jason and Richard discuss the app's features, including its intuitive design, real-time tracking capabilities, and how it empowers users to take control of their finances. They also explore the journey of developing the app and its role in transforming how entrepreneurs manage money and achieve profitability. Whether you're new to Profit First or a seasoned practitioner, this episode is packed with valuable tips on leveraging technology to grow your business. Tune in to learn how the Profit First App can make a difference in your financial strategy.   Website: https://profitfirstapp.com Corporate Partner:Flex Point - www.getflexpoint.com   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice podcast, Tim Moy, Managing Partner of MBE CPAs, shares valuable insights on Future-Proofing Your Accounting Practice. With the accounting industry undergoing rapid changes in technology, regulations, and client expectations, Tim discusses how firms can adapt their business models, embrace innovation, and build a culture of continuous learning. From implementing cutting-edge tech solutions to enhancing efficiency and staying competitive, Tim provides practical strategies to ensure long-term resilience and success. Don't miss this essential conversation for accounting professionals ready to thrive in a fast-evolving industry.   LinkedIn: https://www.linkedin.com/in/timmoycpa/   Corporate Partner:People Processes - http://www.peopleprocesses.com/   Make Your Business Permanently Profitable with the PROFIT FIRST APP!

Show Summary: In this episode of the Grow My Accounting Practice Podcast, Seth Norris, CPA and former CFO, brings a unique perspective on applying Profit First principles to creative businesses and beyond. Seth dives into the key differences between independent creators and those tied to publishers, the cash flow struggles of seasonal businesses, and the importance of aligning financial goals with personal dreams. He also shares how his personal experiences shaped his journey, including balancing work and family life as a father of five and transitioning from banking to running his virtual CPA practice full-time. Seth's insights highlight the transformative power of strategic planning, intentional work-life integration, and empowering clients to achieve financial independence. Don't miss this inspiring discussion filled with actionable advice for accountants and business owners alike!   Website:norriscpafirm.com Instagram:instagram.com/norriscpa Facebook:facebook.com/norriscpafirm   Corporate Partner:Relay.Fi - www.relayfi.com   Make Your Business Permanently Profitable with the PROFIT FIRST APP!