Show notes
Roger Knecht is joined by Marie Torossian, founder of The Profit Lab, to discuss strategies for accounting professionals to grow successful businesses on the latest episode of Building the Premier Accounting Firm. They cover topics from differentiating services like CFO advisory and coaching to attracting high-value clients with strong growth mindsets, emphasizing the importance of clear communication and accountability. In This Episode: 00:00 Introduction and Torossian's Background 02:08 Path to Entrepreneurship 05:30 Profit Lab's Genesis and Separation 09:14 Coaching, Advisory, and Consulting Defined 14:29 Setting Clear Client Expectations 19:43 Attracting High-Value Clients and KPIs 25:35 Building Credibility and Explaining Value 31:00 Uncovering Client Blind Spots and Personal Impact 38:16 Applying Financial Insights and Entrepreneurial Freedom 43:19 Gratitude, Resources, and Call to Action 49:03 Becoming a Profit and Growth Expert Key Takeaways: Differentiate accounting services (bookkeeping, tax, CFO, advisory, coaching) to set clear client expectations. Attract high-value clients by seeking those with a growth mindset who see value in financial insights. Implement 10X strategies and sales processes to improve client onboarding and reduce confusion. Leverage non-financial KPIs, such as leads and marketing channels, to provide holistic business guidance. Cultivate omnipresence through consistent content and testimonials to build trust and credibility. Featured Quotes: "I didn't know accounting was actually a class." — Marie Torossian "Our industry needs all of this information. I want to be a coach and I want to bring all of the 10X strategies, money mindset, all the marketing, sales, and really help our community of accountants, bookkeepers, and CPAs." — Marie Torossian "Coaching brings the accountability." — Roger Knecht Behind the Story: Marie's background began with practical experience in her father's businesses, leading her to discover accounting as a profession. Her career evolved from audit and corporate CFO roles to launching her accounting firm and eventually The Profit Lab, a coaching business. She emphasizes the importance of clear service definitions, strategic marketing, and understanding client psychology for sustained growth and personal fulfillment. Conclusion: Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Get a complete assessment and a 30min review of the assessment of your money mindset, marketing and sales skillset: profitlab.biz/10xassessment Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: "Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds" – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. "in the BLACK, nine principles to make your business profitable" – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. "Your Strategic Accountant" - Understand the 3 Core Accounting Services (CAS - Client Accounting Services) you should offer as you run your business. Help your clients understand which numbers they need to know to make more informed business decisions. "Your Profit & Growth Expert" - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. Follow the Turnkey Business plan for accounting professionals. This is the proven process to start and build the premier accounting firm in your area. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Also learn the best practices to automate and nurture your lead generation process allowing you to get the bookkeeping, accounting and tax clients you deserve. GO HERE to see this presentation and learn what you can do today to identify and engage with your ideal clients. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a: Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE Next, join a group of like-minded professionals within the accounting community. Register to attend GrowCon and Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business. The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value. For Additional FREE Resources for accounting professionals check out this collection HERE! Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss. Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe. Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777