Host John Chapman of the John Chapman Show talks with Michael Eckstein, Certified Public Accountant (CPA). Michael shares how his practice shifted from a regular tax return business to more of an advisory business for small business owners. Some of the discussion points include outsourcing your weak points without trying to be a jack-of-all-trades, getting over the fear of increasing prices, and not being able to always sell your way out of major issues.    Episode Highlights: Where did Michael Eckstein grow up and what was money like in his house?   How much about accounting was taught to him by his dad? What made Michael choose accounting? What was it like for Michael while working with his dad? When Michael first started it out, what types of clients was he helping?  What does accounting from the advisory side look like?  Which small business areas does Michael typically assist?   Why do business professionals need to outsource more?  Michael Eckstein shares how you can go about increasing your prices.  How do businesses make sure that they don’t increase spending when they increase prices?  How should business and personal expenses get balanced?    3 Key Points:   Michael’s clients are commonly service professionals like marketers, lawyers, and consultants, and contractors.  The costs that are incurred when you refuse to outsource include: creating mistakes, overworking yourself, missing time with your family, holding yourself back from expanding in other areas, and preventing yourself from making money.  Don’t cloud your personal and business reports and budgeting by using business money to pay for personal expenses.    Tweetable Quotes: (Growing up) “Money isn’t really something that was talked about. My dad is also an accountant. So on the one hand, it wasn’t really a topic you talk about at the dinner table, but it was somewhat present.” – Michael Eckstein “You can’t pass down a practice that isn’t growing.” – Michael Eckstein “That hour or two sitting with me asking me their business questions, it could be like, ‘What is your opinion on this website? But instead of doing that once a year, it is every single month.” – Michael Eckstein   Resources Mentioned: Linkedin: John Chapman Michael Eckstein: Linkedin ecksteinadvisory.com ecksteintaxservices.com 5 Simple Strategies to Strengthen Your Agency See omnystudio.com/listener for privacy information.

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