In this special "After Hours" episode, hosts Damien Greathead and Penny Breslin sit down with Steven Ladd — recovering engineer, serial entrepreneur, and small business advisor — to explore what it really means to serve small business owners beyond the debits and credits.

Steven shares his journey from engineer to entrepreneur to advisor, and how working with small businesses during COVID revealed a hard truth: most owners don't have a financial foundation — and most advisors don't know how to connect with them on a human level.

In this episode, you'll hear about:

• Why speaking plain English (not EBITDA) changes everything
• The "Lemonade Stand" model for helping owners understand their own business
• What the Catalyst program looks like in practice — and what real value delivery looks like in the first 90 days
• The difference between a compliance mindset and a true advisory relationship
• Why the best advisors ask great questions rather than have all the answers

Whether you're an accountant looking to move into advisory, or a bookkeeper ready to offer more value, this conversation will give you the confidence and framework to take that next step.

0:00 – Introduction & Welcome

0:22 – About the "After Hours" format

0:54 – Recap of previous episode: Defining Advisory Services

1:51 – Penny introduces Steven Ladd

4:17 – Steven's background: Engineer → Entrepreneur → Advisor

5:09 – Working with small businesses through COVID

8:28 – How Steven describes what he does: "Love and Systems"

10:40 – Why jargon (like EBITDA) gets in the way

16:35 – What the Catalyst program looks like in practice

17:10 – The "Lemonade Stand" model for business clarity

24:15 – After the Catalyst: bookkeeping options & the fork in the road

29:13 – Empowering owners to become the Operator

31:15 – How big is Steven's company? (The answer may surprise you)

32:44 – A client success story: from skeptic to $250K loan

35:46 – Wrap-up & connect with Steven on LinkedIn

Are your accounting firm's processes truly optimized, or are you considering outsourcing as a quick fix to deeper workflow issues?

In this episode, hosts Damien Greathead and Penny Breslin delve into the topic of outsourcing within the accounting industry. They discuss the challenges firms face with staffing shortages, the increasing client demand for accounting services, and the importance of having robust internal processes before considering outsourcing. The conversation highlights the need for clear communication, efficient workflows, and proper utilization of technology to ensure success. Penny emphasizes the significance of understanding why work is not getting done and addressing those issues internally before outsourcing.

[00:00 - 10:00] Introduction and Staffing Challenges

• Damien and Penny discuss the constant busy season in the accounting industry and the rising demand for outsourcing services.
• Understand the industry's current state and the increasing need for efficient processes.
• Penny discusses the high demand for remote workers and the increase in outsourcing booths at conferences.
• Competitive salaries and clear role definitions are crucial for attracting and retaining talent.

[10:01 - 20:00] Client Demand, AI Impact, and Effective Outsourcing

• Damien and Penny explore the growing client demand for various accounting services, despite technological advancements.
• Emphasize the unique value and services your firm offers to differentiate from competitors.
• Identify and address internal workflow issues to ensure successful outsourcing.

[20:01 - 30:00] Technology and Client Communication

• Damien and Penny discuss the role of technology in managing workflows and client expectations.
• Utilize technology efficiently and ensure clients are trained to use it properly.
• Penny shares experiences of managing client expectations and internal team coordination.
• Allocate responsibilities effectively within the team to maintain operational efficiency.

[30:01 - 40:00] Reflecting on Processes and The Role of Internal Training

• Penny advises firms to revisit and optimize their processes, especially during slower periods.
• Regularly review and update processes to stay efficient and effective.
• The value of rephrasing questions is to understand and solve workflow issues better.
• Invest in training and clear communication to enhance team performance.

Direct Quotes

"If work isn't getting done for other reasons, outsourcing is the solution because the systems are working well, the teams and you want to grow." - Damien Greathead

"You need to present a value to your clients and that you're worthwhile." - Penny Breslin

"Before you outsource, make sure you're really good at what you do and your processes are standardized." - Damien Greathead

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Thank you for listening. Please like and share this episode with a friend!

Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57