CFO Chronicles: The Secrets Behind Success

From Numbers to Influence: Charlie Price's Journey to Transforming Accounting Firms

• James Donovan • Season 1 • Episode 15

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Discover how Charlie Price, the mastermind behind The High Profit Accountant, redefined his career from crunching numbers in the corporate world to becoming a beacon for marketing consulting in the accounting industry. Charlie joins us to share his inspiring journey of pivoting towards high-value, relationship-centered activities, leaving behind traditional tax work to help accounting firms thrive through advisory services. Feel the excitement as we reminisce about our first meeting at a lively event in Tampa and how it sparked a professional partnership that has flourished over the past three years.

Charlie opens up about his transformation, touching on personal growth and building confidence—a challenge many of us face. From overcoming the daunting fear of public speaking to nurturing an internal team ready to elevate client services, Charlie’s experience is a testament to turning apprehension into achievement. His insights into effectively transitioning clients from tax services to advisory roles not only brought monumental results for clients but also enriched firm revenues. We encourage those hesitating to embrace the spotlight to trust in their vision beyond the fear of external judgment.

Ready to boost your accounting firm’s success? In our discussion, we explore practical client acquisition strategies that focus on organic growth through content creation and community engagement. Charlie shares his expertise in leveraging existing client relationships for greater gains and emphasizes the importance of defining a unique business vision. He encourages the pursuit of high-end advisory and CFO services as a pathway to sustainable revenue. Tune in to understand Charlie’s approach to attracting high-paying clients and the exceptional value he brings to his community. Join us for this episode, rich in insights, and don’t forget to connect with Charlie and follow us for more valuable content.

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Speaker 1:

Welcome to CFO Chronicles the secrets behind success, the go-to podcast for fractional CFOs and accounting firm owners who want to attract more high-paying clients and increase their revenue. Hosted by James Donovan from Nine Two Media, this podcast dives into marketing strategies specifically designed for lead generation and client acquisition. In each episode, you'll hear from industry leaders sharing their success stories. And Thank you All right.

Speaker 2:

Super excited about today's episode. We got Charlie Price from the High Profit Accountant on today. What's up everybody? How's everybody doing? Charlie, I'm super pumped to have you on today. We met probably three years ago, I'm thinking.

Speaker 1:

That's crazy. It's been three years.

Speaker 2:

Back in Tampa at a live event, which was really cool. We've had the pleasure of being at a couple events together, networking a couple. Beers after the event had a great time. For those who don't know you, I'd love to just open up the floor for you to give a quick introduction yourself, and then we can get into some of the hard-hitting questions. Yeah, sure, James.

Speaker 3:

Yeah, I can't believe it's been three years, man, and we were on the boat at the one time, which was pretty cool. We had some really cool things. That was an awesome event, some event. Yeah, so my name is Charlie Price, cpa, so I guess my past is. I came out of, you know, 15 years in the industry plus and started consulting with accounting firms in 2018, really focusing on how to package, market and sell premium services, really focusing in that advisory and CFO side, and we've been doing that for the last handful of years and it's just been incredible. I've worked with over 200 accountants and I've had an absolute blast doing that.

Speaker 2:

That's awesome. I had no idea you had a background in accounting. I thought you were hey, just another guy wanted to get into the marketing space and started working with accounting firms. That's really cool that you have that background. I hated my accounting course in university, absolutely hated it. So I find it extremely ironic that I'm now working with accountants and loving it. I caught myself laughing in the spring. We were sponsoring an event in Jacksonville and I was like, wow, I never one thought I was going to go to Jacksonville and to be at an accounting conference. So that's crazy, what will happen. But yeah, loving the space now and who we get to work with. How did you decide to make the transition and now like being really involved in the marketing space coming from the corporate world, yeah, and first of all like glad to.

Speaker 3:

Yeah, like I came out of, I came out of industry and you know tying the balance sheets and all that stuff and going through those tax seasons. But you know, just happy to have you in the in the industry, james, and just all the awesome stuff that you're that you guys are doing over there for for accountants too.

Speaker 2:

I appreciate that. Yeah, yeah.

Speaker 3:

So what was the? What was the? What was the question there?

Speaker 2:

Yeah, so I was just curious how did you get into, you know into this space now on the marketing side of things coming out of the corporate world?

Speaker 3:

Yeah. So I just knew I, you know, there was a time where I really enjoyed, you know, doing the tax returns and that's where I was really, you know, specialized in. But I just wanted to make a bigger impact. I wanted to. I wanted I had just had a purpose for. I wanted to work more closely with people, I wanted to learn more more, do more relationship building, and I kind of had the entrepreneurial bug for a few years before I resigned and left and jumped out on my own. So that was, that was a big thing and I think I definitely think there's accountants out there that can relate to that. These days, like you know they, I talk to a lot of people that aren't as in love with maybe doing all the tax you know, tons of tax work and they want to do more of the, you know, the higher value relationship stuff. So I think that's kind of a commonality pattern that people can relate to, hopefully awesome awesome as you were explaining that and telling that story, charlie.

Speaker 2:

I this might, we might go in a handful of different directions here for 30 minutes, but um, one, one thing that's always stood out for me when I met you is one of the stories you told at, uh, at one of the events we're at with I want to say it was one of your first marketing clients, so I do you know where I'm going with this.

Speaker 3:

I don't.

Speaker 2:

I've had, I've had a lot of crazy stories over the years just, yeah, I, I would love for uh, for everyone who is listening who works remote you know, works home, has a remote office the time you brought on a new client and you had your onboarding or intro or kickoff call with your new client yeah, I know what you're talking about. The other one now.

Speaker 3:

Yeah, so I had one of my first clients. I still tell my clients about this sometimes. I was just getting started in business this time. So it was 2018, early 2019. And I enrolled our client and scheduled the kickoff call for the same day or next day. And they were local right and essentially I had scheduled it as a zoom meeting. But that person had shown up at my, at my place, because at that time I didn't have the po box even set up at that point right, because it was just ready fire aim. But uh, yeah, that person had like showed up, like I'm here for the kickoff call. That one that was. That was wild. So, yeah, make sure you, you reiterate to your, to your folks, that like, yeah, it's gonna be on zoom, but it hasn't happened since since then so, and then what happened?

Speaker 2:

like you, you opened the door and said all right, come on in. I think I.

Speaker 3:

I think I really rescheduled the meeting to do it on zoom and just clarified it. So we were good oh, that's so good.

Speaker 2:

I've told that story to so many people. It it never is not funny yeah, that story.

Speaker 3:

What about have you had something crazy happen, like anything that you can think of um?

Speaker 2:

what has happened? Yeah, there was. I I feel like I've told you the story before, when I was first getting started, of the inappropriate phone call. I won't get too in in depth on on that for this recording. Uh, we can tell you about that one again offline if needed. But, um, if, if you're remembering that one there was, there was that as far as like kickoff calls or other things happening, nothing really stands out like a client showing up at your front door.

Speaker 3:

Um, but yeah, I think we all, we all have something where the client surprised us, like you know. I definitely know that the audience can relate to something it just blew us away with oh, wow, no, that's good.

Speaker 2:

So tell me, charlie, um cpa gone gone marketing, gone advertising, essentially now helping out other cpa, um individuals who want to grow their firm, package it properly. Tell me about some of the the biggest learning lessons you've come across while growing your offer, growing your business, growing your firm.

Speaker 3:

Oh man, put me on the spot there a little bit, but I think so many different places I could go on this but I mean, I would think I think we've always we've done a great job of creating offers and of creating offers and thinking about how to do things in a fairly, in a fairly scalable way so that we can, as an owner you know I can, and this is what we work with our clients on you know consistently continue to work and operate as the CEO, and this is something that you know we've both worked with Alex Shalinski. Like that, alex would you know, consistently continue to work and operate as the CEO, and this is something that you know we've both worked with Alex Shalinski. Like that, alex, would you know, preach for sure about being, you know, working on the business versus in the business. So I think you know that's been a huge lesson. It's just, you know, continuing to focus and operate effectively as a CEO and to build out service lines that scale.

Speaker 2:

Okay, cool, now let's flip to the other side. What are some of the things that you're most proud of in your business? And maybe, yeah, maybe, we'll just start there and then we can get to you know, some client results. What are you most proud of? I mean, that's the first thing some client results. What are you most proud of? I mean?

Speaker 3:

that's, that's the first thing. That's the first thing I was going to say is just just some of the incredible transformations that we've seen from clients Like we've, you know, we've seen a client this year, you know, add 50% in firm revenue from from up, just upgrading clients. You know, tax clients into advisory services and we've had clients just massively change their business and their lives through implementing, you know, just higher end advisory engagements. So that's number one. And then two more things that come to mind. Number two would be empowering team and watching team level up. You know just our internal team and just seeing them grow and transform. So this is all it's all. Transformation. It's it's transformation for our clients, it's transformation for our team. And then I say it's self-transformation. You know when I when I always I tell this story a lot, but when I was just starting out like I was like who am I to?

Speaker 3:

talk to accountants to coach, to get on a Facebook live.

Speaker 1:

Who the hell?

Speaker 3:

is going to listen to me. I was sweating, scared to hit the live button on Facebook live. I was scared to put out content and share my voice. I was sweating through my shirt on coaching and I know people can relate to that, hopefully. But I just I guess through repetition and through mentorship and and and building that confidence, just through putting the reps in and being around the right people, I think I feel a lot better about doing those things, you know that's just a transformation for all three. You know this for everybody there.

Speaker 2:

That's cool. What would you say to to those listening who are still a little nervous to hit, you know, the live button, to hit record on their phone, to get in front of zoom and film themselves, or, you know, to try to position themselves as that authority figure or that thought leader in their space, because it is scary and it's going to be scary the first handful of times you do it, and I'd be lying if I said it's still not scary jumping on and doing certain things, like at a certain point, obviously that fear diminishes, but it's petrifying when you get started. I'd love to hear your take on how someone could get overlook that fear or get past it so that they can put themselves out there more.

Speaker 3:

Yeah, I love it. I still feel, you know, I still get a little nervous sometimes when I hit that before I go live or before I you know, like you know how's this going to go, before I do something like this, right, but it's like, you're right, it's different. Two things. So I think, to build confidence in anything really, confidence in anything really, there's two things that we need, and it's faith and evidence, right. So number one is we have to have faith that it's possible, right, and that can come from, you know, yes, up above right faith and spiritual, you know, faith. But it also can be surrounding yourself with the right people and like minded people that have done that and made that transformation Right, by, you know, joining a mentorship program or by surrounding yourself with, with peers that are going through the struggle and that have come out the other side of that journey, and that gives you the confidence to start, like that's the sole reason why I got started and started booking conversations and bringing on clients was I had that faith right that it was possible.

Speaker 3:

Then number two is, now that you're starting to put those actions into place, it's the evidence starts to come right. You start to prove to yourself OK, this is good, you know I'm getting better and this is going better. And oh wow, this worked well, this went well, and that evidence starts to build over time in the reps. So then you, then the confidence comes, and then you know, I think that's kind of that, that journey yeah, nice, I, I would.

Speaker 2:

I would add in as well that, like nobody's out there, well, most people in your circle who that's going to be shared with aren't hoping you fail. So getting up and posting that video or getting on stage and and having a talk, whatever it is, people in the audience aren't sitting there like hoping you fail. I mean, you might have a couple of people and those just aren't great great people, but most of the time people are rooting for you to do that, and also who cares what other people think, rooting for you to do that, and also who cares what other people think? Like you're the one in the spotlight. You have the opportunity now to make your voice heard, your your offer heard, where the people are probably judging you or making comments, they're hiding behind their keyboard doing it. So, um, I think it that comes with time as well, and it's a lot easier said than done. But like, really, who cares what, what the other people are thinking?

Speaker 3:

Yeah, and like, if you mean a lot of people care, like a lot, I mean that's the truth, right. Like I still, I still have feelings about, like, what people think about me, whether it's it's messaging people or clients or whatever, but it's but. Or whatever but it's, but it's. Uh, you know, am I gonna let my fear of what other people think of me, what's more important, like what I, what I'm shooting for, my vision and what I want to build, or, uh, you know my, my fear, and what could potentially hold me back from achieving that?

Speaker 2:

so yeah, yeah, so that's so good. Um, all right, let's. Let's talk a little bit about how Charlie Price finds new clients for for his business, and how you help your clients and advise them on best ways to find best ways for their client acquisition. That's, that's big. We like to always hear from everyone what they're doing for their acquisition channels, and I'd love to hear from those two different perspectives from you sure, absolutely so.

Speaker 3:

Um, I've been a huge, huge proponent of organic. That's how we've built our built our business, and I guess just what that means is, uh, you know, free putting out content. We built a facebook community called the high profit accountant. Now we rebranded it, uh, years, you know, years ago. So that's been around for four, four plus years of just putting out consistent content and then on from that end, we're leveraging that content to start engaging conversations, to identify problems and pain points that we can help people with and ultimately give sharing some insights and moving people to conversations. So that's how we've been, that's what we've been mostly focusing on. We've done workshops and events like that, you know, related to that as well, and and that's that has helped.

Speaker 3:

And then with our clients, I think we definitely focus on that, you know, I think that's probably one of the fast way to the fastest way to get a sale, I think, is by asking somebody to have a conversation. I think there's some truth in that. But at the same time, I do want to, you know, when you have your offers, I think, packaged the right way, um, don't just throwing the towel on your current clients and upgrading them, because we've seen tremendous value in having upgrade conversations in a specific way where you upgrade you can, you can upgrade clients, create more goodwill with your clients, regardless of if they upgrade or not, and I just think it's a fantastic opportunity that, um, that's where I would probably start. If you're an established accounting firm that has, you know, a bunch of a bunch of clients yeah, awesome.

Speaker 2:

I mean, like you just said, don't don't throw in the towel. And upgrading your own clients. You can't say someone else's no for them. Make the ask, they'll tell you if it's not a fit, but you can't. You can't make that decision and say no for them. There's been too many situations where I think, if I look back in the past, I've probably said someone else's no for them and just in the last handful of months where being very intentional to not say someone else's no for them has made a massive difference in my life, and I tell that to our team members, I tell it to our clients and it's just something I truly live by now. Like, do not say someone else's no for them because you may be very surprised at the outcome that takes place.

Speaker 3:

That's awesome. Yeah, I think my version of that is is don't sell with your own wallet. I think it's kind of a similar, similar kind of look there, um, but yeah, I think, and there's a way that you can do upgrades, like if you, if you um structure, like we're getting towards the tail end of 2024, like you can invite your clients to a strategic planning call for next year that's you know and then that's going to allow you to help them come up with a roadmap for their business as well as understand what their goals and challenges are, so that you can make a really powerful, compelling, high level offer for them, which is a win-win-win for everybody.

Speaker 2:

I that's so interesting. You brought that up the like, the strategic planning, the forecasting call. I think that's so important to do and it really positions yourself as you know their growth partner and more than just a line item on their balance sheet. Um, aside from that, is there anything else that you have top of mind that someone could take action on today? If they're listening, that you know, yeah. Well, one thing for sure set up that strategic call with your clients so you're forecasting what's going to happen going into 2025, or what are we doing the remaining months of 2024. Anything else, uh, that comes top of mind that maybe you're sharing with your clients it's not giving away the entire playbook that you can share with everyone who's listening.

Speaker 3:

Don't worry, I think we're just coming off of a tax deadline here in the US, so that was October 15th. So doing some reflection, looking at your current service lines and what your hours look like this year and what your profitability looks like this year. You know, we see a lot of people that are putting their firms up for sale right now because they're not happy and, I think, doing some self-reflection on, like what would make me happy if you're in that space? So what does that vision look like for the company? And don't create that. Don't put yourself in the box that your firm has to be a certain way. And don't put yourself in the box that your firm has to be a certain way. You don't have to offer and be like every other cookie cutter business out there. You can create your own rules and have your own boundaries and have your own service lines, and that's going to really differentiate you too.

Speaker 3:

So I think, starting with some self-reflection on knowing what, ideally, you want your business to look like how many days a week do you work? How many hours do you work? Do you want a busy season or do you know? Do you want uh, I don't know how to say that but like how many hours are you willing to do for a busy season? Do you want team members like? I think that's a good place to start and then, you know, consider what service lines are going to um, you know best what service lines are going to. You know best what service lines are going to best get me there and which ones are going to probably pull me away from that. So that's why you know transparently I think we both focus on advisory and CFO services because of the higher end monthly recurring revenue brings stability and security and being at the ability to work with fewer clients um to work with. To work with fewer clients um, which creates a lot less more simplicity, I think, for a firm that's so good, I hope.

Speaker 2:

I hope whoever's listening is taking action and thinking about this stuff and and it's being intentional as well. Right, I? I got a some, some insight or a lesson or a video I watched from somebody recently or in the past, and you know about what's your ideal day look like. Well, I'm sure so many people have thought about this before and probably a handful of people have actually have done something about it. I know I was one of those people for the longest time. Well, this is my ideal day and would not actually do anything to try to structure what my ideal day looked like.

Speaker 2:

And as I'm saying this, I've kind of tailed off on it being in my own calendar. But I'm getting back to the point now where I have my real calendar of what's happening, all of the back-to-back meetings that I don't want to be having, always jumping from one thing to the next, and then I have my ideal calendar like kind of carbon copy right on top of it, and the goal is, come the start of 2025, we're based off of the ideal calendar and the ideal what the ideal work days and work weeks look like, because I think, unless you're taking those actionable steps and you're being super intentional. You're just going to continue to relive the same six months over and over. So I really like what you're saying about reflecting after the tax deadline and seeing where do I want to make changes, what do I actually want my business to look like? And you're 100% in the driver's seat.

Speaker 3:

Yeah, and, guys, put yourself first. I know that sounds selfish, but we are like the most selfless industry. Right, you got. I know you guys know what I'm talking about. Right, I'm speaking to the camera right now. Like we, you know, as an industry, we're very, very selfless and we put our clients first to the sacrifice, sacrificing health and all kinds of stuff, family, all kinds of stuff, health and all kinds of stuff, family, all kinds of stuff. But when you, if you could put yourself first and, do you know, like, like you said, have it, do that, you know, design that ideal day and start to think about how to manufacture that, you'll ultimately be able to help more people and create more impact and that'll allow you to, you know, really, really serve a lot of people in a big, big way.

Speaker 2:

Put yourself first. That's an awesome final piece to to end on, Charlie, for everyone who wants to get in touch with you, to continue the conversation with you. Learn more about what you're doing, how you're helping your clients. How can they get in touch with you? Where can they find?

Speaker 3:

you For sure. Yeah, I would love to connect with as many as many of y'all as possible. We have a. I'm mostly on Facebook. I'm on LinkedIn as well, but mostly on Facebook. So you can just search Charlie Price on Facebook and you'll see me. And we have an incredible community of 3,700 accountants which, james, you're going to be on, I think, tomorrow, rocking and roll with us. So we do expert trainings, interviews around packaging, advisory services, around how to sell, overcoming objections, how to generate more premium engagements and appointments. So jump in, jump into the high profit accountant community. We'd love to see you there.

Speaker 2:

Awesome. I'll make sure that's linked in the description of this episode, charlie, so hopefully we get some people joining your group. Anyone who is listening highly recommend you speak with Charlie. He's incredible at what he does, has a great offer and you'll be well looked after inside of his community. Charlie, thank you so much for coming on. This was an awesome conversation and I'm looking forward to seeing you soon.

Speaker 1:

Thanks for listening to CFO Chronicles the secrets behind success. We hope today's episode provided valuable strategies to help you attract more high-paying clients. Be sure to subscribe, follow and share with fellow professionals. Connect with us on LinkedIn and leave a review or comment to join the conversation. Your feedback helps us bring you the best insights in finance and marketing. Until next time, keep striving for success and unlocking your business's potential.