Episode #517 Preview: Crypto Compliance — Conversation with Joe Woodard and Perry Woodin

In this episode, Ron and Ed welcome back Joe Woodard, now a TSOE Sponsor, and Perry Woodin, a leading expert in cryptocurrency compliance and reporting. They will dive into the critical challenges professionals face in navigating the evolving regulatory landscape of digital assets. The discussion will focus on actionable insights for accountants, lawyers, and other service providers on staying compliant with cryptocurrency regulations, best practices for accurate reporting, and the key trends shaping the future of digital asset compliance. Perry will also showcase how NODE40's innovative technology is empowering professionals to simplify the complexities of crypto transactions, ensuring audit readiness and regulatory adherence. This timely conversation provides essential guidance for those looking to stay ahead in the rapidly changing world of cryptocurrency.

ABOUT PERRY WOODIN

Perry Woodin is the Co-Founder and Chief Innovation Officer of Node40. Perry’s interest in blockchain began in 2012, driven by the financial incentives that digital currencies use to encourage network participation — from early Bitcoin mining to staking. He served as a Trust Protector for the first DAO (Dash) and continues to sit on several advisory committees. In 2015, Perry co-founded the first cryptocurrency staking company, bringing stability to blockchain infrastructure by hosting collateralized nodes. Recognizing the growing need for a sophisticated platform to provide financial data for cryptocurrency transactions, Perry spearheaded the launch of NODE40 Balance in 2018.As Chief Innovation Officer, Perry continues to guide the evolution of NODE40, ensuring the company's solutions remain at the forefront of the digital asset space. NODE40 has become a trusted resource for financial professionals and institutions, offering advanced tools to simplify cryptocurrency compliance and reporting in an ever-changing regulatory environment.

ABOUT JOE WOODARD

As an author, consultant, business coach, and national speaker, Joe has trained over 150,000 accounting and business professionals in areas of practice development, changing technology trends, strategic consulting, and how to maximize the use of accounting software in their practices. Joe founded Woodard Events, LLC (aka Woodard® a training and resource organization for accounting professionals that provides education, community, and coaching offerings through onsite training events, virtual training events, and intensive, coach-led practice advancement courses. Joe is the host of one of the world's leading training conferences for accountants and bookkeepers called Scaling New Heights®. For every year since 2014, Joe has been recognized by Accounting Today as one of the Top 100 Influential People within the accounting profession.

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

Join us every Friday at 3pm ET / 12pm PT

• You can listen live at TheSoulOfEnterprise.com/live (the podcast is available just a few hours after the show airs live)

• You can also participate live on Twitter using the hashtag #AskTSOE and the Twitter account @asktsoe

• Prefer email? Shoot us a note at asktsoe@verasage.com

As always, please check our website for upcoming and previous show notes and recordings, use Twitter to find the show at @AskTSOE or find us on Facebook.

The Soul of Enterprise show hosts, Ron Baker and Ed Kless, are on X (the artist formerly known as Twitter) at @ronaldbaker and @edkless, respectively (and obviously).

Episode #516: Interview with Alan Whitman, Former CEO of Baker Tilly US

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: In this episode of The Soul of Enterprise, Ron and Ed sit down with Alan Whitman, a prominent leader in the accounting field with a deep commitment to fostering dynamic, people-focused growth strategies. As CEO at Baker Tilly, Alan has championed innovative solutions and strengthened client relationships, all while focusing on the firm’s core values and sustainable growth. Join us as we dive into Alan’s insights on leadership, the future of professional services, and how Baker Tilly navigates a rapidly evolving industry landscape.

SHOW NOTES

Segment one

• “The accounting profession has a serious image issue.” —Alan Whitman, more here: https://www.alandwhitman.com/newsletter/the-accounting-profession-has-a-serious-image-issue 

• The years of training, education, and the CPA exam are certainly part of why the interest in accounting is down. But Alan thinks a bigger part is the the stigma of what it is like to work at a CPA firm

• Is the billable hour an important success metric? No. “We need to shift the mindset from production to outcomes.” —Alan Whitman

• “Is the future of the CPA profession in jeopardy?” —written by Alan Whitman; more here: https://www.alandwhitman.com/newsletter/is-the-future-of-the-cpa-profession-in-jeopardy 

Segment two

• “Greatest Hits: 5 Keys to Building a Firm that Thrives” by Alan Whitman https://www.alandwhitman.com/newsletter/greatest-hits-5-keys-to-building-a-firm-that-thrives 

• “Strategy is the anchor from which everything hangs off, all the plans, all the spend, all the actions. The strategy defines where the company is headed and what it wants to accomplish at the macro level. Then you build a plan.” —Alan Whitman

• “How do you get CPAs be more innovative in an hourly building model?” Ron asked Alan thisGREAT question today and the answer is in segment two of the show.

• “If you're efficient at doing the wrong things, there's no bigger waste.” —Ron Baker

Segment three

• We spent some time on the show today talking about the negative aspects of the CPA industry but Alan Whitman had a great quote that needs to be called out, “The CPA profession is storied, and it's been around a long time. It is fundamentally based on trust.”

• “The AICPA is going through a huge transition and it’s a really exciting time for the for the Association.” —Alan Whitman

• In the accounting industry specifically, “AI is going to accelerate the need to adopt technology.” —Alan Whitman

Segment four

• So what has Alan been up to? “I’ve actually been sitting back and saying…okay, if I was going to build this new firm from scratch, how would I do it?” #BreaktheMold https://www.alandwhitman.com/ 

• What is a business transformation to Alan? “It's about making what you have today different tomorrow, so you can succeed better tomorrow.”

• A big THANK YOU to Alan Whitman for joining us today. He’s out there everyday looking to #BreaktheMold and you can read more about him at this link https://www.alandwhitman.com/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #515: Election Exasperation and More

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: In this special post-election episode, Ron and Ed dive into the highs, lows, and surprises from the 2024 U.S. election. They’ll explore the economic and business implications of the election results, unpack key possible policy shifts, and discuss what the outcome could mean for professionals and beyond. Tune in for insights, analysis, and a touch of humor as they make sense of the latest political landscape.

SHOW NOTES

Segment one

• A pre-election article from National Review: “The 2024 Stakes Are Lower Than You Think” https://www.nationalreview.com/magazine/2024/12/the-2024-stakes-are-lower-than-you-think/ 

• Ron Kuby is an American criminal defense and civil rights lawyer mentioned on the show today. Here is some background: https://en.wikipedia.org/wiki/Ron_Kuby 

• Needs no explanation: Life of Brian - The People's Front of Judea https://www.youtube.com/watch?v=WboggjN_G-4 

• Santa Fight Club from This American Life https://www.thisamericanlife.org/371/scenes-from-a-mall/act-three-0 

• Who is the only other president to serve two non-consecutive terms in the United States? Grover Cleveland https://www.whitehouse.gov/about-the-white-house/presidents/grover-cleveland/ 

Segment two

• Regarding voter turnout: In Dearborn, MI, where 55% of the residents are Middle Eastern, Trump won 42.5% and Harris took 36%. Jill Stein got 18% and voter turnout was smaller than 2020

• Discussed on the show today: “The Important Virtue That Brought Donald Trump Back” https://www.nationalreview.com/corner/the-important-virtue-that-brought-donald-trump-back/ 

• From Ed today: The people who are really great salespeople say, “Yeah I'm gonna fail 70% of the time. So what. That's just the way it works.”

• Was this the first “podcast presidency”? https://www.poynter.org/reporting-editing/2024/podcast-role-presidential-election-results-trump-rogan/ 

Segment three

• At the start of the segment, Ed had a great quote… “Polls drool. Election markets rule.”

• The betting market aggregator run by John Stossel (former TSOE guest, episode 204) and Maxim Lott is an aggregate of individual betting markets. More here: https://electionbettingodds.com/ 

• The Harris campaign and allied groups spent $1.9 billion on ads. The Trump campaign and allied groups spent $1.6 billion. Between the time Harris entered and November 1, Democrats outspent Republicans on presidential ads alone by $460 million.

Segment four

• The Three Languages of Politics: Talking Across the Political Divides https://amzn.to/40JZ2hz 

• From Jonah Goldberg in The Dispatch, “The gender gap stuff is real” https://thedispatch.com/newsletter/gfile/the-end-of-victimism/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #514: Implementation Innovation — Interview with Kurt and Reid Banger

NEW SHOW FEATURE: If you want to ask Ron or Ed a question and be featured on the show, please submit a voice recording from any device at https://thesoulofenterprise.com/questions

SHOW SUMMARY: In this episode of The Soul of Enterprise, hosts Ron and Ed sit down with Kurt and Reid Bangert of Bangert, Inc., innovators in construction technology solutions. The Bangerts will share insights into “The Bangert Way,” a transformative approach that eliminates traditional hourly billing in favor of a streamlined, transparent process tailored for construction businesses. Tune in to learn how Bangert, Inc. supports the industry with Sage Intacct, fostering expertise and effectiveness for Customers nationwide. Don’t miss this conversation on reshaping construction project management and accounting practices!

About Kurt Bangert

As principal at Bangert, Inc. Kurt leads his 40-year family business into a new era of technology and service delivery related to the construction industry. They lead our industry in changing the way software has been implemented for decades by aligning ourselves and our customer's interests, being 100% transparent in our dealings, and offering our knowledge for free on the Bangert, Inc. YouTube channel.

About Reid Bangert

Deploying change as the third generation in his family’s 40-year business helping commercial contractors achieve productivity through applied technology. Reid champions continuous technology deployment. He has revolutionized how Customers deploy technology with their proven process, The Bangert Way: bangertinc.com

Kurt Bangert

Reid Bangert

SHOW NOTES

Segment one

• (Sarcasm ahead) This might sound shocking to you but Bangert, Inc is changing the way software has been implemented for decades by aligning with their customers interests.

• While transitioning the business to a new model of implementation, the Bangert team made the decision to offer their knowledge, for free, on their YouTube channel. Link is here: https://www.youtube.com/bangertinc 

• Reid has a great hat on for the interview today. It says, “Digital First” and reminds the entire Bangert team to ask, “How can I use next generation systems to make the customer experience better?”

• The whole beginning [of our company’s transformation] was, “We want happy employees because happy employees make happy customers.” That’s why the team STOPPED SELLING and spent many months building internal tools and processes to better support customers.

Segment two

• Billing by the hour and one-to-one customer consultant assignments are the two components that make up the outdated billable hour business model. “The business model is set so that the cards are totally stacked against the customer.” —Kurt Bangert

• Regarding a business model transformation at Bangert, Inc: “We also eliminated billing reviews, which was an instantaneous mood boost because I don't know if you've ever been through a time card review or filled out time cards. We got rid of time cards, of course, but let's just say no one really enjoyed that.”

• Regarding the Bangert business transformation: “I knew that we would have some people self select and I knew that we would probably assist others in finding a better fit for employment. And they were all really good people.”

Segment three

• At a video per day, the Bangert YouTube channel has everything from basic functionality in Sage products to construction accounting 101. Check it out here https://www.youtube.com/@BangertInc 

• The first thing you want to know is, “What does it cost?” The Bangert website has a PRICING CALCULATOR front and center. Try it out at this link: https://bangertinc.com/sage-intacct-construction/pricing-calculator/ 

• “Kurt mentioned the transparency. For me, it's not only about the transparency, but the customer experience through and through.” Reid Bangert

Segment four

• Regarding a transition to the subscription model: “As long as you still think about job costing a project, you will never be successful.” —Kurt Bangert

• What has a subscription model done to the Bangert customer makeup? Now that it is on the Bangert team to provide continuous value, “it attracts a more sophisticated buyer.” Well said, Reid! 

• “We've been able to cut implementation time by 50% and the cost of implementation by 70%.” —Kurt Bangert

• “Ask Richard” is an LLM based chatbot for Sage Intacct users. It’s so much more than that and you can start learning about it here: https://www.constructiondive.com/press-release/20241018-bangert-inc-unveils-ask-richard-a-free-web-platform-powered-by-a-propr/

• A big THANK YOU to both Kurt and Reid Bangert for joining us today. They have an enterprise software pricing calculator on their website as well as a YouTube channel with over 1,300 videos. Check them out here https://bangertinc.com/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits.