Tackling Trends in Accounting and Workforce Shortage with John Bly
John Bly, the South Atlantic Regional Managing Partner of Aprio, is a frequently requested global speaker and author of "Cracking the Code: An Entrepreneur's Guide to Growing Your Business Through Mergers and Acquisitions for Pennies on the Dollar." John also serves as host of The Aprio Advisory podcast, helping listeners tackle the issues that keep business owners awake at night.Listen in!Key Highlights:[00:01 - 10:47] How COVID-19 Impacted the Workforce Over the YearsThe ups and downs of COVID-19 may have been unpredictable, but clients surely have stronger 2021s compared to 2020s.Moving forward, people can have better years but the rising inflation cost and work shortage stir up fear and uncertainties.Learning remote work is essential especially in the current status moving forward.With how the world is changing in the last two years, the impact on the workforce is notably negative on a larger scale. However, because of the inflation, business owners need to be wary about the wage increase..[10:48 - 22:21] A Myriad of Aspects to Consider in the Aims of GDP and Business GrowthIn the lens of CPA firms, both small and big businesses are in for a challenge of workforce shortage.To sustain the GDP growth, American policies must ease their immigration policies.It is difficult to invest right now, given the current state of the government and its debt.In the last 18 months, we've seen IPO performances go up at least a turn almost overnight. It is a combination of two things - the quality of the businesses that are now potentially hitting the market and a big run-up in the stock market.[22:22 - 34:03] Essentials in Decision-Making and Systems Curation ProcessesThe family must be on the table when making big decisions as these can also change their lives.A great practice to incorporate is to allow two or three years of making sure that there is a buttoned-down decision-making matrix within your company and that the systems and processes are well-documented.When it comes to earnouts, the advice is to make sellers comfortable about not earning another dollar to refrain from being emotional. [34:04 - 36:50] Closing SegmentCheck out Aprio and Aprio Advisory Podcast to see actionable and insightful information about what's happening within the marketplace.Key Quotes:“it's also really hard to invest right now, given the given the current state of the government and its debt.” - John Bly“Family better be on board, whatever the decision is, because it's a life change. And it's an emotional roller coaster it is. It is going up and down as you go through a deal and then what happens after. So, family better be at the table.” - John BlyConnect with John:Website: https://www.aprio.com/people/john-bly Podcast: https://www.aprio.com/the-aprio-advisory-podcast/ Linkedin: https://www.linkedin.com/in/johnblycpa/ Twitter: https://twitter.com/JohnBly_CPA Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.