On Episode 071 of the Epic Business Growth for CPAs Podcast, I interview the world’s most highly rated advisor to accountants. Steve Pipe is a best-selling author, dynamic speaker and founder of Accountants Changing the World and the AVN Association of Proactive UK Accountants.
Accounting for Families
Steve began his account career working for KPMG, but after the birth of his first daughter he decided to set up his own accounting practice. At KPMG, his focus was on audits, which meant he had to re-skill in order to run his own practice successfully. What he found was that he was winning small businesses who wanted more than tax help, they wanted their businesses to be more successful. He realized that small businesses were so linked to the families that depended on them.
Steve decided to help businesses become more successful while helping the families behind the businesses make smart financial decisions. He then began to help families create a “balance sheet” for their personal finances, not just their businesses. Doing this allowed him to help families shape the rest of their lives. He found that his clients were more attentive and interested in his services once he began focusing on helping families understand their financials.
Accounting for Good
Because of his work with families, Steves believes that every accountant should be striving to make a larger impact with the work they are doing, but unfortunately this isn’t the case. His estimate of why this is happening is because many accountants have low self-esteem about their career and find themselves charging too little for their services. This leads accountants to:
- Compromise their financial future by not making enough to support their families
- Compromise their work-life-balance to work more hours
- Decide to only do the bare minimum service
In contrast, when an accountant begins to focus on helping their client in a real way and feels proud about the service they provide they are able to charge more and bring their practice to a new level.
Helping families and individuals understand their financial situations allows them to make smart decisions. The outcomes of these decisions trickle down into the economy and world around them making a huge difference. For example, Steve shares a story about how he helped his dad recognize that he had enough money to retire before he was 60, ultimately saving him many years of stress and strained relationships.
How You Can Do The Same
Episode 071 is packed full of Steve’s great advice for how accountants and CPAs can use their business to do real, powerful good in the world. Click here to listen to the whole episode now.
If you’re feeling frustrated with working 50+ hours per week, trading your time for money and want to run a business that is making a real impact in the world, be sure to schedule a totally free 15-minute consultation with me. I’d love to help show you how to work less and make more while having an impact on the world around you.