247 From Products to Transformations in the New Economic Era (feat. Principal Ron Baker)

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Accounting High

316 episodes

6 days ago

Accounting High is the premier practice management podcast for tax and accounting firm owners. Join us for conversations about running a modern accounting practice in the cloud. We are the next generation of accounting professionals questioning the state of the accounting profession.

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247 From Products to Transformations in the New Economic Era (feat. Principal Ron Baker)

Accounting High

1 hour 8 minutes 44 seconds

9 months ago

247 From Products to Transformations in the New Economic Era (feat. Principal Ron Baker)

Episode 247

FACULTY: Principal Ron Baker

CLASS: #TheGuide

In this episode, Scott is in the office again with Accounting High Principal Ron Baker to discuss the future of accounting and the shift towards the transformation economy. Ron outlines the evolution of economic eras and how firms can position themselves to offer superior value by focusing on transformations rather than just services. They also touch on examples from various industries, and discuss the potential of subscription models.

📣 Shout Outs: Nikole MacKenzie, James Ashford, Ben Stein, Joe Pine, James Gilmore, Scaling New Heights, Betty Crocker, Duncan Hines, Bench, Angus Barn, Ruth’s Chris Steakhouse, Chuck E Cheese, Nike, Mayo Clinic, Profit First, GoProposal, Intuit, Apple, Disney

📚 Books Referenced 📚

“The Experience Economy” by Joe Pine and James Gilmore

“ Trends in the Transformation Economy” by Christophe Jacque

Chapters:

00:00 Teaser

02:54 The Evolution of Economic Eras

05:46 The Experience Economy

06:44 The Transformation Economy

09:29 Decommoditizing Services

15:27 Real-World Examples of Transformation

22:26 Fender Play: A Case Study

25:05 The Future of Professional Services

35:22 The Future of Accounting Firms

36:37 Creating Transformative Experiences

39:49 Specializing in Transformations

42:23 Challenges and Opportunities in the Profession

43:50 The Subscription Model and Transformations

49:28 The Future of Healthcare and Parallels to Accounting

01:06:33 Burnout vs. Moral Injury in the Profession

01:07:52 Conclusion and Final Thoughts

🔗 Connect With Us On Linkedin! 🔗

Ron Baker

📎 https://www.linkedin.com/in/ronbaker1/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Accounting High, Accounting, Podcast, Coaching, Accounting Tips, How To Run An Accounting Practice, Accounting Industry, Accounting Practice, Transformation Economy, Service Offerings, Future of Accounting, Economics, Experience Economy, Transformation Economy