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

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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)

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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