Episode 239

FACULTY: Scott Scarano, EA and Matt Kid, CPA

CLASS: #Shoperations

In this episode, our substitute teacher, Matt Kidd, continues his interview with Scott Scarano, EA where Scott shares the story of how he grew his accounting firm to $1.3 million with $400,000 in annual cash flow, and became completely removed from daily operations. Scott provides insights into the importance of a strong team, unique hiring methods, and embracing technology and innovation in the firm. He also touches on his passion for rapping, his struggle with growth versus letting off the reins, and his future aspirations for his firm.

📣 Shout Outs: Jason Ackerman, Ron Baker, Jody Grunden, Adam Hale, Shane Mason, Ashley Francis, Summit CPAs, Live Plan, Microsoft Dynamics, Karbon, Engage

⬇️Videos Referenced⬇️

The Model Cloud Accounting Firm (feat. Jody Grunden, CPA)

(https://youtu.be/o7ccvINvvic)

Tax Firm Adding Value with Financial Planning and CAS feat Matt Kidd, CPA

(https://youtu.be/X-_9E-4YBXQ)

Chapters:

00:00 Teaser

01:26 Building the Firm: Client Acquisition and Niche

04:18 Innovative Hiring Techniques

05:52 Embracing Quirkiness: A Rebel Yell

06:22 Influences and Inspirations

08:00 Beginning the EOS Journey

10:03 Remote Work and Management Trust

12:24 Financial Struggles and Turning Points

20:07 Transitioning Out of Sales

22:43 The Live Plan Experiment

24:14 Facing Failures and Employee Turnover

25:10 Reflecting on Advisory Services

26:45 Firm's Financial Status in 2022

27:49 Challenges and Changes in 2023

29:56 Client Management and Team Growth

32:47 Considering Wealth Management

33:17 Balancing Passions and Career

33:36 The Impact of Podcasting and Rapping

37:08 Future Goals and Reflections

37:51 Learning from the Podcast

39:16 Accounting Influencers

39:53 Closing Thoughts and Final Reflections

🔗 Connect With Us On LinkedIn! 🔗

Matt Kidd, CPA

📎 https://www.linkedin.com/in/matthewkiddcpa/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, Entrepreneur Journey, Firm Growth, EOS, Leadership, Financial Freedom, Scale Business, Scale Firm, Firm Growth

Episode 238

FACULTY: Scott Scarano, EA and Matt Kid, CPA

CLASS: #Shoperations

In this episode, one of Accounting High’s substitute teachers, Matt Kidd, CPA interviews Scott Scarano, EA, about his journey through accounting. Scott shared how his grandfather's CPA firm and the family software business shaped his early career, as well as the tough times he faced during college before finding his way back to accounting. He talked about his experiences with remote work, using Xero, and implementing EOS, all of which helped him transform his firm and himself. Over time, Scott grew the business significantly and reinvented his role, evolving from an accountant to a full-fledged entrepreneur.

📣 Shout Outs: Kenji Kuramoto, Jason Staats, Matthew May, Christopher Leon, Jason Ackerman, Bernie Ackerman, Acuity, Xero, XeroCon, XPAC, Thompson Reuters, QuickBooks, BNA CPA’s North Carolina

⬇️Videos Referenced ⬇️

Tax Firm Adding Value with Financial Planning and CAS feat Matt Kidd, CPA

(https://youtu.be/X-_9E-4YBXQ)

📚 Books Referenced 📚

Rocket Fuel by Gino Wickman and Mark c. Winters

(https://www.eosworldwide.com/rocket-fuel-book)

What the Heck is EOS by Gino Wickman and Tom Bouwer

(https://www.eosworldwide.com/what-the-heck-is-eos)

Traction by Gino Wickman

(https://www.eosworldwide.com/traction-book)

Chapters:

00:00 Teaser 

01:16 Introducing ... Scott Scarano, EA??? 

02:33 How Scott Got into Accounting 

05:15 College Years and Career Beginnings 

06:04 Struggles and Turning Points 

09:28 Building the Firm 

12:02 Growth and Expansion 

16:29 Challenges and Adaptations 

17:42 Remote Work Experimentation 

18:18 Accountant or Entrepreneur? 

19:13 Discovering Xero 

20:49 Networking and Growth 

24:15 Embracing EOS 

26:13 Visionary vs. Integrator 

28:47 Challenges and Realizations 

32:28 COVID and Transformation 

35:38 Part 2 Preview

🔗 Connect With Us On LinkedIn! 🔗

Matt Kidd, CPA

📎 https://www.linkedin.com/in/matthewkiddcpa/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, Entrepreneur Journey, Firm Growth, EOS, Leadership, Financial Freedom, Scale Business, Scale Firm

Episode 237

FACULTY: Dustin Verity, CPA

CLASS: #Shoperations

In this episode, we sit down with Dustin Verity from Verity CPA, who joins us live from Hawaii. Dustin shares his experiences from founding Verity CPA in 2012, starting with small beginnings working out of a kitchen table to managing a multi-million dollar firm with 25 employees and three offices. The episode offers deep insights into the steps and hurdles of growing a CPA firm from scratch, emphasizing flexibility, continual reinvestment, and the dynamics of business growth.

📣 Shout Outs: Grant Thornton, EY, 4 City Hawaii, Xero, Wesley, Zapier, Airrtable, Ultratax, CCH, Thomson and Reuters, QuickBooks Desktop

Chapters:

00:00 Teaser

02:26 Founding Verity CPAs

03:42 Journey to Hawaii

04:15 Starting the Practice

05:25 Early Challenges and Growth

13:56 Navigating the Pandemic

16:16 Firm Expansion and Acquisitions

18:18 Current Operations and Future Plans

23:59 Integrating Systems and Processes

25:30 Journey to Hawaii

26:08 Building a Modern CPA Firm

28:27 Marketing and Client Acquisition

33:10 Lessons from Acquisition

36:31 Final Advice and Reflections

🔗 Connect With Us On LinkedIn! 🔗

Dustin Verity, CPA

📎 https://www.linkedin.com/in/dustinverity/

Verity CPAs

📎 https://www.linkedin.com/company/verity-cpas/

📎 http://www.veritycpas.com/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, Hawaii CPA, Firm Growth, Scaling

Episode 236

FACULTY: Joe Carufe and Ben Curtis, CPA

CLASS: #Shoperations

In this episode, Scotty hosts Joe Carufe and Ben Curtis of Good Measure. They discuss their unique approach to building a new type of firm, embracing partnership without ego, and intentionally planning for sustainable growth. The conversation dives into the evolution from their past experiences to creating Good Measure with a focus on strong client relationships and community impact. Joe and Ben share their vision for a balanced professional and personal life, their process in finding ideal clients, and the importance of giving back. Engaging and insightful, this episode provides a blueprint for building a purpose-driven, successful firm.

📣 Shout Outs: Good Measure, Karbon, Adam Slack, Two Roads, System Six, Chris Williams, Deeper Weekend, QuickBooks, Ian Vacin, Jeremy Allen, Gusto, Intuit, Bill.com

⬇️Videos Referenced⬇️

The Accounting Game (feat. Chris Williams, CEO)

(https://youtu.be/AhkKXviITnw)

Chapters:

00:00 Teaser

02:02 Joe's Journey

03:36 Why start as a Partnership?

06:10 Working at System Six

07:11 Starting Good Measure

10:22 Scaling and Team Growth

17:14 Financials and Future Plans

20:24 Balancing Roles and Responsibilities

27:55 Defining the Ideal Client

29:52 Psychographics

31:09 Client Acquisition Strategies

34:12 Leveraging Technology and Innovation

48:20 Final Thoughts and Advice

🔗 Connect With Us On LinkedIn! 🔗

Joe Carufe

📎 https://www.linkedin.com/in/joe-carufe-20603621/

Ben Curtis, CPA

📎 https://www.linkedin.com/in/ben-curtis-goodmeasure/

Good Measure

📎 https://www.linkedin.com/company/good-measure-financial/

📎 http://www.goodmeasurefinancial.com

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Partnerships, Good Measure, Joe Carufe, Ben Curtis, Cloud Bookkeeping, Business Growth, System Builders, Partnership Goals, Financial Planning, Entrepreneur Life, Small Business, Accounting Firms, Client Acquisition, Business Advice, Business Leadership, Client Relationships, Scale Your Business, Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes

Episode 235

FACULTY: Carla McCall, CPA aka Queen B

CLASS: #Shoperations

In this episode, Scotty interviews Carla McCall, CPA, managing partner of AAFCPAs and chair of the AICPA. Carla shares her innovative approach to the accounting profession, emphasizing a people-first culture that flips the traditional script of client and firm importance. She discusses the importance of technology integration, lessons learned from her career journey, and strategies implemented to create a supportive and inclusive workplace. Carla also touches on her work with the AICPA, the future of the accounting profession, and the challenges and rewards of leading through change.

📣 Shout Outs to Byron Patrick, CPA.CITP, Herb Alexander, CannCount, Ron Baker, AICPA, AAFCPAs

Chapters:

00:00 Teaser

05:17 Early Career and Influences

07:37 Joining AAFCPAs and Career Growth

13:53 Leadership and Firm Culture

29:31 Recognizing Opportunities in Bookkeeping

29:49 Scaling the Business with Strategic Leadership

30:33 Diverse Practices and Technological Integration

32:11 Advisory Services and Strategic Shifts

38:14 Remote Work and Office Dynamics

42:21 Leadership and Authenticity

48:46 Future of the Profession and Technological Advancements

🔗 Connect With Us On LinkedIn! 🔗

Carla McCall, CPA

📎 https://www.linkedin.com/in/carlamccallaaf/

AAFCPAs

📎 https://www.linkedin.com/company/aafcpa/

📎 https://www.aafcpa.com/

CannCount

📎 https://www.linkedin.com/company/canncount/

📎 https://www.aafcpa.com/industries/cannabis-businesses/canncount/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, Women In Accounting, Leadership, People First, Inclusion, Technology, ChangeMakers, AICPA, Innovation

Episode 234

FACULTY: Matt Kidd, CPA

CLASS: #Shoperations

In this throwback to Sons of CPAs, Scotty chats it up with Matt about his two CPA brothers, diving into how they each built successful practices, inspired by their CPA father. They talk about managing and transitioning CPA firms, incorporating wealth management, modernizing traditional practices, tax season, and client relationships. Tune in for a comprehensive view on growing a client-centric, million-dollar CPA practice, with insights on practical strategies and overcoming challenges in the accounting profession.

📣 Shout Outs: Shane Mason, Blunden, QuickBooks Online, QuickBooks Desktop, Xero, UltraTax, Karbon, Excello, Onvio, Thompson Reuters, Citrix, Buckingham Strategic Partners, Loring Ward, AICPA, AICPAENGAGE, Jon Gordon

⬇️ Video Referenced ⬇️

051 - Numbers and Love Letters (feat. Shane Mason, CPA/PFS, CFP, CPWA) (https://youtu.be/Pkn_JPfwl0k)

📚 Books Referenced 📚

The Energy Bus: 10 Rules to Fuel Your Life, Work, and Team with Positive Energy by Jon Gordon

(https://theenergybus.com/)

Chapters:

00:00 Teaser

02:12 Meet Matthew Kidd: The CPA Journey

02:30 Family of CPAs: The Kidd Legacy

02:50 The Value of Wealth Management

02:58 Matthew's Path to Becoming a CPA

07:26 Acquisitions and Practice Growth

14:15 Hard Numbers

24:02 Modernizing

25:43 Navigating Tax Laws and Old Tech

27:18 The Onvio Experience

29:50 Transitioning to Cloud-Based Systems

33:24 Launching Wealth Management Services

40:57 Marketing Wealth Management to Clients

45:17 The GetTo Foundation and Its Impact

47:54 Reflections on Accounting Practices and Margins

51:39 Closing Thoughts and Future Plans

🔗 Connect With Us On LinkedIn! 🔗

Matt Kidd, CPA

📎 https://www.linkedin.com/in/matthewkiddcpa/

Blunden & Kidd Accounting & Consulting, P.C.

📎 https://www.linkedin.com/company/blunden-kidd-accounting-consulting-p-c/

📎 https://blundenkidd.com/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, tax planning, financial advisory, CPA journey, wealth management, family business, accounting firm growth, hybrid work model, client relationships, CAS integration, professional development

Episode 233

FACULTY: Kendale King, CPA

CLASS: #AccountingHigh

Join us as Scotty interviews Kendale King, CPA from Los Angeles, who shares his inspiring journey from childhood entrepreneurship with his brother to a successful career in Hollywood accounting. Kendale discusses his transition from auditing roles at Deloitte to working in entertainment consulting with major companies like Netflix. His passion for accounting and entrepreneurial spirit led him to launch CPAcon, the first accounting olympics. Discover what Kendale is bringing to the accounting world in this episode!

📣 Shout Outs: CPACon, Deloitte, Chrysler, Morehouse College, Siegfried Seals Group, 21st Century Fox, Netflix, Earmark, Richard, Denise Freming, CalCPA, Dream Con

Chapters:

00:00 Teaser

01:55 Kendale's Background and Early Life

02:41 Choosing a Career Path

03:41 First Steps in Accounting

05:24 Early Entrepreneurial Ventures

09:31 Transition to Entertainment Industry

12:10 Experience at Netflix

14:27 Post-Netflix Career Moves

19:24 Introducing CPACon: Gamifying Accounting

29:42 Final Thoughts and Advice

🔗 Connect With Us On Linkedin! 🔗

Kendale King, CPA

📎 https://www.linkedin.com/in/kendale-king-cpa-💵-90916721/

KCK CPA

📎 https://www.kck-cpa.com/services

CPAcon

📎 https://www.linkedin.com/company/cpacon/

📎 https://www.thecpacon.com/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Accounting High, Accounting, Podcast, Coaching, Accounting Tips, How To Run An Accounting Practice, CPACon, CP, accounting event, entrepreneurship, DreamCon, Los Angeles, networking

Episode 232

FACULTY: Becca Smith, MAAT

In this episode, Scotty interviews Becca Smith, MAAT an Education Leader at Xero. Learn about the global nuances of accounting practices, Xero’s educational initiatives, and community events like Xerocon and Xero roadshows. Hear updates about Xero’s innovative payment solutions, their AI companion JAX, and the evolution of financial technologies. Join us to learn how these advancements are shaping the future of accounting!

📣 Shout Outs: Xero, Xerocon, Bill.com, Xero JAX

Chapters:

00:00 Teaser

01:28 Introduction 

04:08 Transition to Xero 

08:52 Role at Xero and Education Focus 

15:03 Community Building and Events 

21:40 Personal Insights and Running 

23:36 Balancing Work and Hobbies 

23:49 Global Accounting Practices 

24:54 Payment Methods Evolution 

28:13 Tipping Culture Differences 

28:53 Xero's New Initiatives 

33:40 JAX AI Companion 

40:39 XeroCon Rap Performance

45:25 Conclusion

🔗 Connect With Us On Linkedin! 🔗

Becca Smith, MAAT

📎 https://www.linkedin.com/in/becca-smith-maat-79080190/

Xero

📎 https://www.linkedin.com/company/xero/

📎 http://www.xero.com

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Accounting High, Accounting, Podcast, Coaching, Accounting Tips, How To Run An Accounting Practice, Accounting Education, XeroCon, Becca Smith, Accounting AI, UK Accounting, Accounting Technology, Xero, Global Accounting

Episode 231

FACULTY: Kyle Geers, CPA

CLASS: #Shoperations

In this episode, join Scotty and Kyle Geers as they talk about his unique path from college water skiing enthusiast to managing a fully remote firm with $2 million in revenue. Hear how the founders of Zeroed In leveraged their skills to create profitable accounting practices, navigated communication and collaboration challenges, and utilized tools like Power BI and ClickUp. Discover insights on capacity planning, client service management, and fostering team growth through clear career paths.

📣 Shout Outs: Bridging the Gap, Grant Thornton, Xero, Zeroed In, QBO, NetSuite, Sage, Microsoft Dynamics, Power BI, Power Query, Power Automate, Microsoft Copilot, ChatGPT, Microsoft 365, ClickUp. Zapier, Microsoft SharePoint, Microsoft Teams, Roman Villard, Digital CPA

Chapters:

00:00 Teaser 

02:27 Kyle's Journey into Accounting 

04:46 Experiences at Grant Thornton 

09:46 Transition to Technical Accounting Advisory 

16:54 Building and Growing Zeroed In 

20:52 Using ChatGPT vs. Copilot 

21:37 Integrating Accounting Systems 

23:31 Client Onboarding and Ideal Profiles 

25:48 Roles and Responsibilities in the Firm 

29:37 Internal Communication and Team Meetings 

33:03 Final Tips for Students 

34:07 Partnership Dynamics and Challenges 

36:16 Networking and Professional Communities

🔗 Connect With Us On LinkedIn! 🔗

Kyle Geers, CPA

📎 https://www.linkedin.com/in/kylegeers/

Zeroed-In Consulting

📎 https://www.linkedin.com/company/zeroed-in-consulting/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Shoperations, Accounting High, Accounting, Podcast, Shop Class, Firm Operations, Systems And Processes, partnerships, remote work, technical accounting, entrepreneurship, business growth, advisory services, Microsoft tools, client management

Episode 230

FACULTY: Ashley Francis, CPA

CLASS: #TheGuide

In this episode, Scotty and Ashley Francis, CPA explore personal development strategies, including habit formation, overcoming people-pleasing, managing self-doubt and anxiety, especially in high-pressure situations like public speaking and even how ChatGPT could be your goto therapist.

📣 Shout Outs: Mike Sylvester, ChatGPT, Xero

⬇️Episodes Referenced ⬇️

187 AI Horror Stories: Shining a Light on the Dark Side of AI

(https://open.spotify.com/episode/2wAVjhBGQvgiydiOp2sPOj?si=y9Fn92lESam5N8QaftjFyQ)

Chapters:

00:00 Teaser

02:29 The Human Element in Automation

03:59 Embracing New Roles and Teaching

04:54 Personal Growth and Healthy Habits

11:33 The Power of ChatGPT

15:03 Overcoming Perfectionism and Self-Doubt

24:04 Public Speaking and Personal Reflections

26:33 Conclusion and Final Thoughts

30:12 The Power of Saying No

🔗 Connect With Us On LinkedIn! 🔗

Ashley Francis, CPA

📎 https://www.linkedin.com/in/ashley-francis-seattle/

The Francis Group, PLLC

📎 https://francisgroupsea.com/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: The Guide, Accounting High, Accounting, Podcast, Guidance, Vision, Firm Owners, Advice, AI in accounting, ChatGPT, mental health, professional growth, healthy habits, meditation, automation tools, firm management, perfectionism, stress management, public speaking, personal development, accounting tips, professional advice, healthy lifestyle, self-improvement, habit formation, career evolution, tax profession, CPA insights