Joe Woodard joins Steve Major to talk about building an Epic Practice.
As an author, consultant, Intuit contractor and national speaker, Joe has trained over 75,000 accounting professionals in the areas of practice development, changing technology trends, and how to maximize the use of QuickBooks in their accounting practices.
Joe regularly publishes articles for Intuit publications and for Insightful Accountant, and Joe has been featured repeatedly in Accounting Today and AccountingWEB, in both articles and in video interviews.
Joe heads up the Woodard Companies, which include: Woodard Events, Woodard Consulting, Woodard Network and Insightful Accountant. In 2012, 2014 and 2015, Joe was recognized by Accounting Today as one of the Top 100 Influencers within the Accounting Profession. In 2008, Joe was recognized by CPA Practice Advisor as one of the top 40 up and coming thought leaders under the age of 40.
Transforming small business. Greatest impact on small business through helping accounting build great businesses. Accountants are uniquely empowered.
Heroism of small business ownership. Small business owners never detached. Too many small businesses are using technology from 30-40 years ago.
Cloud technology – mobile friendly – integration friendly.
Address the most acute problem – this earns the relationship to build on. Too many accountants start at the back office.
Challenge – 1. ever changing technology landscape
The best reason to narrow the focus of professional firms – The Cobb Value Curve. More information on the Cobb Value Curve here. It highlights competitive position and value price. Narrow focus allows a refined process and ease of marketing.
Automation & integration are going to change the face of the industry. Bookkeeper of the future will not be a data entry person but rather an interpreter.
Completer / verified / evaluator / interpreter.
Four options in face of the disruption :-
- barely change
- play in the current of it
- play a role in the disruption
Epic Practice – intentional practice
Does not let workflow initiate by clients but rather look intentionally at future for client. eg I have an agenda for you (1) analysing financial for problem (2) scouting for partners (3) always learning so got your back.
Epic Practice – knows it product
Disney – manufactures memories
Accountants product is a transformed client. Measured on impact delivered.
Also check out the event – Scaling New Heights – May 22-25 in Atlantis, Paradise Island, Bahamas
Website – www.woodard.com
Twitter – @joewoodard