Strategies to Help Firms, Employees and Clients Navigate the Crisis
We are living in globally unprecedented times. No one is immune from the impact that Coronavirus is having on the world, whether socially, emotionally, mentally, physically or financially. In this episode, host Randy Crabtree interviews six leaders and experts in the world of accounting and finance who offer suggestions and insights on how accounting firms can deal with the many issues and challenges that are arising as a result of the virus, for both themselves and their clients.
- Tom Hood, CPA, CITP, CGMA is the CEO of Maryland Association of CPAs & Business Learning Institute discusses the need for technology and the quick acceleration of its use. Accounting Today says, “Hood uniquely combines three vital traits: He sees the future of the profession clearly; he discovers or creates supremely practical ways to move the profession toward that future; and he generates tremendous enthusiasm for the move in everyone he meets.”
- Richard Kopelman, CPA, CGMA, CEO and Managing Partner of Aprio offers their newly created website information clients on what to do and makes them aware of specific potential issues.
- Joshua Lance is a CPA Practice Advisor “40 under 40” and the founder and Managing Director of Lance CPA Group, a virtual CPA firm that focuses on providing accounting and consulting services to craft breweries and digital agencies. Josh, whose company is already completely virtual, offers excellent advice on how to make the transition easier for other firms.
- David Nissen, CPA, ABV, CVA, CEO/President of Mueller & Co., LLP shares advice to help clients be prepared for a short-term downsizing and a likely quick “ramping up.”
- John Sensiba, CPA and managing partner of Sensiba San Filippo, discusses California’s shelter in place order, the mental health aspects of suddenly working from home, and how the firm intends to handle the response to the stock market situation.
- Daniel Pische, Senior Vice President of First American Bank offers insights into Small Business Administrations and why it is essential to have conversations with your bank to discover options that can help keep you afloat during and after this unpredictable period.
"The most important thing that can happen now is that we all stay safe.” - Randy Crabtree
What You'll Learn From This Episode:
- Why it’s more important than ever to be extraordinary leaders
- Some of the most significant challenges for whole firms suddenly switching to working remotely and how to minimize the difficulties
- “Little things” that impact business in a big way when everyone is working remotely
- How to minimize feelings of isolation among staff
- How to maximize technology to assist in a smooth transition to remote work
- Some of the benefits of working remotely that include a unique way to create valuable white paper
- Tax issues faced by governments as a result of the virus
- Some of the financial options that your bank can offer to keep you afloat during and after this crisis
- Advice on how to deal with disruption and downturns
- Suggested credits or other government assistance to help generate tax savings and increased cash flow
- How to view working from home as an opportunity, and seeing some of the benefits in it
- Unique ideas for breweries (and other businesses) to continue generating an income
- Why it’s important to have a 13-month cash flow projection
Featured on the Show:
Daniel Pische: LinkedIn