From Accounting Firm Owner to Software Founder
Guy Pearson is the CEO & Founder of accounting onboarding platform Practice Ignition. His mission is to turn it into the single point of collaboration for small business owners and their advisors. He is an entrepreneurial accountant that is passionate on removing bottlenecks from business processes in order to achieve scalability.
Prior to Practice Ignition, Guy started (and still sits on the board of) one of the world’s first cloud accounting practices – Interactive Accounting. Doubling down on the change in the industry, he also invests into the technology around the industry with 10+ angel investments. Shownotes:
- How the global onboarding software platform Practice Ignition came about
- A great elevator pitch technique for answering ‘what do you do?’with something like accounting software
- A global perspective on what kind of shape the accounting profession is in internationally
- Two big drivers for the accounting profession are in real time banking and online taxes
- Examples of how countries like China and Brazil log and serialise all B2B revenue
- We’re at the tip of the iceberg with AI and ML because of the need for structured data
- We’re close to the movie ‘Short Circuit’ than ‘I-Robot’ or ‘Terminator’ when it comes to what AI is doing in accounting
- Tech is more of an evolution than a revolution in the accounting world
- Nobody cares about or values repetitive processes or transaction efforts – they value the outputs of those
- The easiest way to measure ROI on taking your whole 50 strong team to Bali for a working holiday
- The role of staff retention and engagement in providing a rich source of quality new employees
- How the power of a USP or niche positioning makes a good accounting firm great
- The one drawback for an accounting firms that just sticks to compliance work and tax
- Why it’s hard for accounting firms to differentiate themselves
- What makes the good accountants great in today’s business world
- Good accounting firm bosses put in the right systems, training, clients and processes to make their people run 10% faster every month
- The big misconception between art, science and pricing in accounting firms
- The difference between fixed and value pricing for accountants
- Advisory for accountants is where there are more needs of clients that are not being serviced beyond compliance
- If accountants help their clients grow, then the amount of compliance work will also grow
- Numbers are great but numbers without context are useless
- How funding changed the game for Practice Ignition and what it allowed them to do
- What shapes decisions like bringing in experienced leaders without ego to drive a company
- forward
- Funding and extra resource should be more for innovation than to merely increase efficiency
- Skunkworks is the ability to take a problem and put resource towards solving it
- The pain of early start up funding, borrowing from family etc – Practice Ignition went through the familiar entrepreneurial journey
- Shout out to Michael Wood, co-founder of Receipt Bank for playing a part in the Practice Ignition success
- What it might take to bring on 130 people in your company over the next 15 months – almost 10 new hires a month
- The tech entrepreneur’s journey is not always glam and exotic – it’s often a life on the road
- What’s coming up for the accounting world now that we’ve moved to the cloud
- What Guy Pearson plans to be doing in five years from now….
'We're closer to the movie 'Short Circuit' than 'I-Robot' or 'Terminator' when it comes to what AI is doing in accounting' says @guy_pearson on the #Accounting Influencers #Podcast with @therobbrown https://wp.me/p9RNgp-25A #accountex…
Guy is a big believer in technology over outsourcing where possible and suitable. With a background in accounting in public practice and a self-taught knowledge of technology, he believes that any business can achieve a single point of truth for their ownership in dashboard form in order to makes decisions on which levers to pull and push.
When not working, Guy is getting into the ocean, yoga, gym and spending time with my partner and family. You can call him on +61401102606 or contact him below:
Liked your Accounting Influencers Interview with Rob Brown" target="_blank">Guy on email
