S5E5: Nostradamus of the Accounting Profession

“The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked forward to being an accountant.” Jody Grunden
My guest today is Jody Grunden. Jody is the CEO and co-founder of Summit CPA Group, which is a fully distributed virtual CFO firm. He has authored two books, Digital Dollars and Cents, and Building the Virtual CFO Firm in the Cloud. He is the winner of multiple awards, including recognition of Tony's Top Innovative Practitioner by cpa.com. 
In today’s episode, Jody is going to discuss what he's done to position his organization in a way to compete in the accounting profession in a very unique way.
Our accounting company was set up with a desire to do things different than other accounting firms. We did the flat fee which allowed us to get rid of the hourly billing completely, as well as have a significant cut on the administrative costs. We created a subscription-based billing where every week our clients got a bill, and got the money zapped out of their account. We started working remotely since 2013 and the business has kind of evolved with the idea of taking risks and doing things that no other firm has ever done.
The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked for to be an accountant. Accountants think and act completely different where they are risk averse and very to the books. The personalities for virtual CFOs include risk taking, ability to communicate really well with people, high EQI, and can help people to solve their problems. We developed program internally, to be able to help that client or CFO and educate them on how to communicate their messages.
It took eight years to figure out how to price my products and to know that people actually will pay for it. The key is pricing it right, so that you can pay your employees well, have happy employees and make sure that the customers are getting satisfaction. In order to have a solid base to give your customers, it takes a lot of trial and error as well as listening to feedback from clients.
To learn more, and for the complete show notes, visit: petermargaritis.com
 
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“The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked forward to being an accountant.” Jody Grunden

My guest today is Jody Grunden. Jody is the CEO and co-founder of Summit CPA Group, which is a fully distributed virtual CFO firm. He has authored two books, Digital Dollars and Cents, and Building the Virtual CFO Firm in the Cloud. He is the winner of multiple awards, including recognition of Tony's Top Innovative Practitioner by cpa.com. 

In today’s episode, Jody is going to discuss what he's done to position his organization in a way to compete in the accounting profession in a very unique way.

Our accounting company was set up with a desire to do things different than other accounting firms. We did the flat fee which allowed us to get rid of the hourly billing completely, as well as have a significant cut on the administrative costs. We created a subscription-based billing where every week our clients got a bill, and got the money zapped out of their account. We started working remotely since 2013 and the business has kind of evolved with the idea of taking risks and doing things that no other firm has ever done.

The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked for to be an accountant. Accountants think and act completely different where they are risk averse and very to the books. The personalities for virtual CFOs include risk taking, ability to communicate really well with people, high EQI, and can help people to solve their problems. We developed program internally, to be able to help that client or CFO and educate them on how to communicate their messages.

It took eight years to figure out how to price my products and to know that people actually will pay for it. The key is pricing it right, so that you can pay your employees well, have happy employees and make sure that the customers are getting satisfaction. In order to have a solid base to give your customers, it takes a lot of trial and error as well as listening to feedback from clients.

To learn more, and for the complete show notes, visit: petermargaritis.com

Learn more about your ad choices. Visit megaphone.fm/adchoices