Episode 18 - Hoping for a Secure Future with Donny Shimamoto
March 24, 2023 •Concierge CPA Marketing
Jackie and Donny have crossed paths a couple different times. Early on, Jackie and Donny met at Quickbooks Connect and later at Ensuring Success with CPA Practice Advisor.
Donny describes himself as a non-traditional CPA. His background was in audit, however now he operates his firm with a focus on only advisory services that are centered on business transformation. Donny’s firm is called IntrapriseTechKnowlogies LLC.
They focus on a few areas:
- Technology
- Changes to business processes
- Adoption of new business practices
His firm will also help build roadmaps for businesses to assist them as they navigate their 3-5 year plans.
Donny wears a different hat as the Inspiration Architect behind the Center for Accounting Transformation.
Quickly, the Center for Accounting Transformation is a center that directs professionals who are attempting to transform their firm to those they should be listening to.
Day-to-day Engagement
No, we’re not talking about weddings here. We’ll uncover what Donny’s day-to-day looks like as he helps professionals navigate their future goals.
It starts simply with a strategic approach. Where would they like to be in 3 to 5 years? What metrics and KPI’s are being used to make sure those goals are hit?
From here, they work backwards and use the broad standards to measure the more tactical side of things as well.
The list can go on and on when the fine details are analyzed, so we’ve included a few things Donny and his team will look for:
- What services is the client providing?
- What does practice management look like?
- How are workflows being managed?
- What trends are focused on around practice management metrics?
- How is the data being obtained in order to understand the health of the practice?
Whew! That’s a lot of questions. Don’t worry though, it's all about how they are framed. It’s not an interrogation room, it’s simply Donny and his team seeking 1st to understand what problems their clients have.
One of the values of Donny’s firm is Kaizen. This is a term to get familiar with. Kaizen is a Japanese term meaning change for the better or continuous improvement.
In order to improve, we must identify, and in order to identify - we have to ask questions!
What Makes a Healthy Firm?
Jackie asks Danny how they measure a healthy firm. Great question Jackie.
Danny brings up an impactful point and an implied question: How is our world today defining what a good (healthy) firm looks like?
Because of the pandemic, this definition has shifted away from the traditional answer of a firm that makes a positive profit, or metrics around employee production. Donny tells us they look at this question from a transformational lens.
What he means by this goes deeper than the profit surplus conversations. It asks questions like:
- How is the firm taking care of its people?
- Is it using flex time?
- Does it enable hybrid work? What about remote work?
Dare we say… unlimited PTO?
These are the things that have changed and adapted to the post pandemic world. Another perspective Donny offers is from the client side of the conversation.
- Does the firm serve a niche?
- What attracts clients to the firm?
He offers some alternative thoughts about HR practices and one-on-ones with staff. The leadership and organizational development piece of any business is what connects the culture to the mission of the business.
In other words, is the business doing what it set out to do?
Alright, that’s enough questions for this section. Let’s focus on a new topic: the backbone of society.
Accounting: The Backbone of Society
Working in the accounting industry can be a tough gig, especially during busy season. There are certainly days when an accountant may question their career choice, but it is absolutely crucial to society and the business world as we know it.
Donny shares that he believes accounting services need to be redefined. According to him, the industry is responsible for providing three main services:
- Peace of Mind
- Vision & Clarity
- Hope
Close your eyes and repeat those words back to yourself. You may feel better already.
IntrapriseTechknowlogies (or ITK) defines these three areas as their Tenets of Purpose. Let’s explore each one in a bit more detail.
Peace of Mind
There is always, always something to be worried about when owning a business. Just as opportunities are exponential, so are problems. ITK focuses on offering peace of mind so the business owner can spend their energy on more critical business decisions. By taking the burden away, ITK allows the business owner a better opportunity to succeed.
Vision & Clarity
Vision is an essential part of business. There was a vision before the business started and there is a vision every day in preparation for where it is going. As we’ve mentioned, Donny and the ITK team help business owners identify future plans along with assisting them as they navigate the everlasting journey of development.
Hope
This principle is actually fairly identifiable in the industry. Hope, as ITK defines it, ‘is more about how they approach their work, rather than what they do.’
To put it more simply, it’s about the how and less about the what.
When we put all three of these together, and how they drive ITK’s mission, we get their why.
See that?
Learning More about Donny
To find Donny and his businesses visit:
As always, ConciergeCPA is hosted by TaxPlanIQ. To learn more about Jackie and how she helps others, visit jackiemeyercpa.com or join her Facebook group - Accounting Firm Influencers.
You can also find Jackie on most socials under, Jackie Meyer, CPA. Bye for now!