In this special "After Hours" episode, hosts Damien Greathead and Penny Breslin sit down with Steven Ladd — recovering engineer, serial entrepreneur, and small business advisor — to explore what it really means to serve small business owners beyond the debits and credits.

Steven shares his journey from engineer to entrepreneur to advisor, and how working with small businesses during COVID revealed a hard truth: most owners don't have a financial foundation — and most advisors don't know how to connect with them on a human level.

In this episode, you'll hear about:

• Why speaking plain English (not EBITDA) changes everything
• The "Lemonade Stand" model for helping owners understand their own business
• What the Catalyst program looks like in practice — and what real value delivery looks like in the first 90 days
• The difference between a compliance mindset and a true advisory relationship
• Why the best advisors ask great questions rather than have all the answers

Whether you're an accountant looking to move into advisory, or a bookkeeper ready to offer more value, this conversation will give you the confidence and framework to take that next step.

0:00 – Introduction & Welcome

0:22 – About the "After Hours" format

0:54 – Recap of previous episode: Defining Advisory Services

1:51 – Penny introduces Steven Ladd

4:17 – Steven's background: Engineer → Entrepreneur → Advisor

5:09 – Working with small businesses through COVID

8:28 – How Steven describes what he does: "Love and Systems"

10:40 – Why jargon (like EBITDA) gets in the way

16:35 – What the Catalyst program looks like in practice

17:10 – The "Lemonade Stand" model for business clarity

24:15 – After the Catalyst: bookkeeping options & the fork in the road

29:13 – Empowering owners to become the Operator

31:15 – How big is Steven's company? (The answer may surprise you)

32:44 – A client success story: from skeptic to $250K loan

35:46 – Wrap-up & connect with Steven on LinkedIn

Are your accounting firm's processes truly optimized, or are you considering outsourcing as a quick fix to deeper workflow issues?

In this episode, hosts Damien Greathead and Penny Breslin delve into the topic of outsourcing within the accounting industry. They discuss the challenges firms face with staffing shortages, the increasing client demand for accounting services, and the importance of having robust internal processes before considering outsourcing. The conversation highlights the need for clear communication, efficient workflows, and proper utilization of technology to ensure success. Penny emphasizes the significance of understanding why work is not getting done and addressing those issues internally before outsourcing.

[00:00 - 10:00] Introduction and Staffing Challenges

• Damien and Penny discuss the constant busy season in the accounting industry and the rising demand for outsourcing services.
• Understand the industry's current state and the increasing need for efficient processes.
• Penny discusses the high demand for remote workers and the increase in outsourcing booths at conferences.
• Competitive salaries and clear role definitions are crucial for attracting and retaining talent.

[10:01 - 20:00] Client Demand, AI Impact, and Effective Outsourcing

• Damien and Penny explore the growing client demand for various accounting services, despite technological advancements.
• Emphasize the unique value and services your firm offers to differentiate from competitors.
• Identify and address internal workflow issues to ensure successful outsourcing.

[20:01 - 30:00] Technology and Client Communication

• Damien and Penny discuss the role of technology in managing workflows and client expectations.
• Utilize technology efficiently and ensure clients are trained to use it properly.
• Penny shares experiences of managing client expectations and internal team coordination.
• Allocate responsibilities effectively within the team to maintain operational efficiency.

[30:01 - 40:00] Reflecting on Processes and The Role of Internal Training

• Penny advises firms to revisit and optimize their processes, especially during slower periods.
• Regularly review and update processes to stay efficient and effective.
• The value of rephrasing questions is to understand and solve workflow issues better.
• Invest in training and clear communication to enhance team performance.

Direct Quotes

"If work isn't getting done for other reasons, outsourcing is the solution because the systems are working well, the teams and you want to grow." - Damien Greathead

"You need to present a value to your clients and that you're worthwhile." - Penny Breslin

"Before you outsource, make sure you're really good at what you do and your processes are standardized." - Damien Greathead

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Thank you for listening. Please like and share this episode with a friend!

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57

Are you maximizing your firm's potential by effectively marketing your services, even when you're swamped with work?

In this episode of "Strategy and the Virtual Controller," Penny Breslin interviews Damien Greathead about marketing for accounting firms. They discuss the importance of maintaining an updated and specific website, effective client communication, and strategic marketing even when firms feel they are overwhelmed with work. They highlight the value of newsletters and automated communication to keep clients engaged and address their needs proactively. The conversation also covers the significance of defining ideal clients and creating a clear referral system, ensuring firms can attract and retain both clients and employees.

Dive in to discover strategic tips on balancing workload and client acquisition!

[00:00 - 05:21] Introduction and Importance of Specific Websites

• Damien Greathead emphasizes the need for accounting firms to have specific, updated websites.
• They discuss basic services like budgeting and forecasting.

[05:22 - 15:10] Importance of Marketing and Communication

• Marketing is important for firms even when overwhelmed with work.
• The hosts give examples of misleading advertising and defining Client Advisory Services (CAS).

[15:11 - 25:30] Effective Use of Websites and Newsletters

• Penny and Damien discuss how an outdated website can negatively impact firm perception.
• What is the role of newsletters in client communication and prompting additional projects?

[25:31 - 36:00] Client and Employee Engagement

• Engaging with both clients and potential employees through clear communication is vital.
• The firm's website and marketing materials reflect the firm's true values and services.

[36:01 - 39:00] Practical Marketing Strategies

• Implement practical marketing strategies such as newsletters and automated follow-ups.
• Penny and Damien highlight the importance of having a clear and defined marketing and sales process.
• They also encourage firms to continuously update their marketing strategies and maintain client engagement.

Direct Quotes:

"I would just encourage accounting firms to take a look at that website and skinny it down. Get more specific." - Damien Greathead

"Even if you're not necessarily looking for new clients, I think there's a real opportunity for firms just to take a look at their shop front." - Damien Greathead

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Thank you for listening. Please like and share this episode with a friend!

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57

In this episode, hosts Damien Greathead and Penny Breslin delve into cybersecurity within the realm of CPA operations with guest Christophe Reglat. Christophe discusses his extensive background in managing data centers and the evolution of cybersecurity, particularly focusing on the challenges CPAs face. The conversation covers the importance of continuous vigilance in cybersecurity practices, the development and function of the WISP (Written Information Security Program), and how cybersecurity isn't just a technical requirement but a moral one to protect clients' sensitive information.

[00:00 - 10:00] Christophe's Experiences and the Importance of Cybersecurity

• Christophe talks about his experience since 2002 and the critical nature of compliance and security in data centers.
• He emphasizes the non-stop nature of cybersecurity efforts in protecting CPAs.

[10:01 - 20:00] WISP, Real World Applications, and Cybersecurity Misconceptions

• Christophe’s explanation of WISP's role in ensuring CPA firms' security.
• He discusses how breaches can occur and the dual approach needed for cybersecurity within local environments and data centers.
• Penny shares anecdotes about implementing security measures in her practice.
• What are the common misconceptions about cybersecurity among CPAs?

[20:01 - 30:00] Technological Advancements in Security

• The conversation shifts to the ongoing need for cybersecurity updates and the pitfalls of complacency.
• The landscape of cyber threats is continuously evolving along with the necessity for CPAs to adapt.
• Christophe discusses the implementation of AI in cybersecurity measures.
• Continuous updates and real-time monitoring are essential due to the fast-paced nature of cyber threats.

[30:01 - 40:00] Security in Various Environments and Ethical Responsibilities

• Christophe and Penny discuss the complexities of securing remote work environments and the specific challenges faced by CPAs.
• Christophe emphasizes the integration of secure practices in everyday operations to protect against sophisticated cyber threats.
• What are the moral imperatives of protecting client data and the reputational risks associated with data breaches?

[40:01 - 50:00] Interactive Q&A, Practical Takeaways, and Future Directions

• Christophe provides practical advice on how CPAs can start improving their cybersecurity measures immediately.

Direct Quotes:

"Cybersecurity is already, of course, a given. If you want to maintain it 100% of the time, you have to be good at what you do." - Christophe Reglat

"We are always on the forefront of helping them with the cybersecurity problems that they have." - Christophe Reglat

“It's not an if, it's when you're going to get hacked." - Christophe Reglat

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Thank you for listening. Please like and share this episode with a friend!

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57