What are the new perspectives in technology in relation to the current financial landscape? In this episode of Strategy and the Virtual Controller, Damien and Penny discuss how accountants and financial planners are adapting to the current financial landscape in the midst of the pandemic. They share their experiences from a conference they attended focusing on staying healthy during this time, how to be an effective master of ceremonies at a panel discussion, and what services can work together for mutual benefit.

The conversation covers the importance of communication of technology to provide a high-quality service to clients as well as suggestions for success such as identifying the right clients, understanding what kind of business you want to build, paying referral fees, taking extra care with client prep work, and putting clients on extensions automatically. 

Tune in as Damien and Penny as they bring new perspectives to work such as valuing healthy work-life balance and open communication with colleagues!

[00:00 - 00:27] Opening Segment

• Damien and Penny discuss AI, Accounting, Bookkeeping, and technology
• How different people handle being a master of ceremonies at a panel discussion  

[00:28 - 14:03] Reinventing the Traditional Accounting Firm

• Communication and technology are key in the accounting industry
• It is important to be on the same page with clients
• Recommendations from others can help identify potential mistakes
• User marketing to build relationships with potential competitors

[14:04 - 26:23] Working Together To Achieve The Same Value Set

• Centers of influence is a great way to do marketing without putting a lot of money into it
• Referral fees can be beneficial for both parties and should be discussed
• Response times, communication tools, and client expectations should be transparent
• The traditional business model of an accounting firm has changed for all the businesses we service

[26:24 - 30:48] Closing Segment

• Tune in as Damien and Penny share how a growing practice is marketing about being clear on what it is you do, who you serve, and what’s your value proposition!

Tweetable Quotes

“I'm not the sharpest knife in the draw and I'm not a whiz-bang CPA, with all those degrees behind me, but I look at what it takes to be connected with a client.” - Penny Breslin

“Take some time to work out what it is you want. Go back to chapter one of the book, it's not just the numbers to say, “What sort of a business do you want to build?".” – Damien Greathead

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Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57