Adrian Johnson
TLDR:
Creating a scalable and sustainable accounting firm in today’s fast-paced business environment requires shifting focus from billable hours to delivering value, adopting a value-based model, and embracing change. Former CEO of Baker Tilly, Alan Whitman, emphasizes the importance of transforming business models and cultures to stay competitive.
Key Points:
- Shift from billable hours to value-based services
- Focus on delivering outcomes and value rather than tracking billable hours
- Adopt a client-centric approach and build scalable businesses within the firm
- Embrace a “What will it take” mindset to drive transformation
- Remaining relevant in the evolving accounting landscape requires firms to adapt to new models and mindsets
In a business landscape evolving at breakneck speed, CPA firms that cling to outdated models and mindsets risk losing their relevance. Former CEO of Baker Tilly, Alan Whitman, emphasizes the need for CPA firms to embrace change and position themselves for enduring success by focusing on delivering value and adopting a forward-thinking mindset.
Alan argues that the key to thriving in the new era is shifting from a production mindset based on billable hours to a value-driven approach. This transition requires reenvisioning how firms operate and generate revenue, moving from inputs to outputs, and adopting a client-centric model focused on building scalable businesses within the firm. By asking the question “What will it take?” and envisioning a clean slate approach, firms can create a roadmap for lasting relevance.
Transformation may not be easy, but it is imperative for firms to stay competitive and remain proactive partners for their clients. By embracing change, firms can position themselves for enduring success in the evolving accounting landscape.
