E18: Jody Padar, CPA, on Solving Accounting's Incentive Misalignment Using Radical Pricing

In this episode, Sasha sits down with Jody Padar, the Radical CPA, 3x author, to discuss the incentive misalignment in accounting firms, and how radical pricing can solve it. Jody shares her insights on the evolving landscape of accounting, discussing the need for firms to adapt to new technologies, embrace value-based pricing, and shift from traditional hourly billing models. She emphasizes the importance of redefining the accountant-client relationship in the digital age, advocating for a more advisory-focused approach. Jody also addresses the challenges facing the accounting profession, including talent shortages and the impact of automation, while offering her vision for the future of accounting firms. -- 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/ and receive key takeaways from each episode RECOMMENDED PODCASTS: 🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast -- LINKS: Radical Pricing by Jody Padar: https://cpatrendlines.com/shop/jp24pri-jody-padar-radical-pricing-how-to-optimize-profits-delight-clients-and-build-a-top-value-firm-jp24pri/ Connect with Jody on Linkedin: https://www.linkedin.com/in/jody-padar-18a9711 -- SPONSORS: 📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen - NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks. 🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg -- TIMESTAMPS: (00:00:00) Episode preview (00:01:05) Introduction to Turpentine Finance Podcast (00:01:31) Meet Jody: The Radical CPA (00:03:06) The disconnect in accounting firms (00:05:53) Jody's journey into accounting (00:07:23) Innovating in a firm with technology and cloud solutions (00:12:58) Challenges in changing the pricing model (00:18:04) The role of automation in accounting (00:24:32) Innovative constraints in small firms (00:25:33) Realizing pricing as the core problem (00:27:20) Transitioning to value-based pricing (00:36:01) The role of AI and technology in accounting (00:37:41) The future of bookkeeping firms (00:39:56) Reimagining the accounting profession (00:43:04) Strengthening accountant-client relationships (00:47:39) Training the next generation of accountants (00:49:40) Conclusion and final thoughts