For the second year in a row, MBS team members hopped on a plane and flew to fabulous Las Vegas to attend the Intuit Connect conference, formerly known as QuickBooks Connect. Anita, Jennifer, Megan, and Natalie had the privilege of participating in this two-and-a-half day event at the end of October.
Once again, it proved to be an incredible experience. We came back refreshed, inspired, and equipped with new tools and knowledge to better serve our current and future clients.
To keep this blog post to a readable length, we’ve highlighted some of the key takeaways from the conference.
Opening Remarks
Intuit announced that their investment in QuickBooks Online has resulted in 10 million users on the QBO platform. Of these users, 65% are connected with an accountant to help manage their finances, bookkeeping, and/or taxes. In addition, 60% of businesses surveyed reported growth since they began using QBO.
Intuit Enterprise Suite
Intuit was excited to announce their newest product offering, Intuit Enterprise Suite (IES). Designed for larger, growing businesses that have outgrown QuickBooks Online Advanced, IES provides a comprehensive online solution. It supports multiple entities with a full-service offering of robust tools for reporting, financial management, payroll, HR, marketing, and cash flow management.
Intuit appears to be investing heavily in their online offerings. With the discontinuation of lower-level QuickBooks Desktop products like Pro and Premier, IES will potentially phase out QuickBooks Desktop Enterprise at some point.
After viewing a demo at the Intuit booth, we see promising benefits for some of our clients and look forward to exploring this offering further in the future.
Main Stage Speakers
Sasan Goodarzi, CEO of Intuit, and Greg Johnson, EVP of Intuit
Sasan Goodarzi and Greg Johnson talked about the future of Intuit, including the new Intuit Enterprise Suite, and the company’s approach to embracing and planning for AI. Sasan emphasized the importance of leaning into the future rather than fearing it, because the future always wins. He stated, “Electricity wasn’t invented from the continuous improvement of the candle.”
Sasan also shared valuable advice for business owners and entrepreneurs, including:
- Treat every day like day 1. Be curious, ask questions, learn, adjust, and pivot.
- Our minds are the most powerful thing in the world. Mindset shapes behavior, behavior shapes action, and action shapes outcome. Believe it and we will see it.
- Feedback is a gift. It’s better to know when a customer is unhappy than to have them be “Minnesota nice” and never return – or worse, share negative opinions with others.
Priya Parker, Author
Priya Parker, author of The Art of Gathering: How We Meet and Why It Matters, shared her thoughts about the importance of both hosting and guesting well to create meaningful connections. She reflected on how the untimely launch of her book during the height of COVID forced individuals and businesses to rethink the significance of gatherings and connections.
While hybrid gatherings were possible, they required a higher level of intentionality. Before COVID, people gathered together organically before and after in-person meetings; this wasn’t as easy in the virtual world. Priya emphasized the importance of starting virtual meetings well, and suggested using breakout rooms to help foster additional connections between people. She also highlighted that human relations are equally threatened by unhealthy peace as they are by unhealthy conflict styles.
Mark Mathews, World Class Surfer
As one of the world’s best big wave surfers, Mark Mathews shared his powerful and inspiring story of being severely injured while surfing and beginning to lose hope of ever riding the waves again. Facing the possibility of losing his leg to a serious infection, Mark met a paraplegic boy during his hospital stay. This encounter shifted his perspective as he realized his situation could have been far worse. Discovering that the boy was a fan of his surfing, Mark began encouraging him, and found himself uplifted, as well. Mark soon regained hope. A week or so later, the infection had completely disappeared.
Mark attributes this transformation to the power of gratitude, which he believes not only reshapes a person’s mindset, but also has a profound impact on the body’s ability to heal. He suggested creating waves of gratitude throughout your social circles. One simple yet meaningful way to do this is by sending one text message of gratitude a week for the next year.
Mark also encouraged the audience to tie their successes to their loved ones, and remind themselves how their achievements benefit those they care about. This can be a powerful way to overcome fear, as people often push themselves harder for their loved ones than for themselves. He emphasized that the people you surround yourself with have the greatest influence on your trajectory, so let their presence inspire and motivate you.
Leslie Odom Jr, Actor and Singer/Songwriter
The main stage speaker on the final day was actor and singer, Leslie Odom Jr. Leslie brought incredible energy and charisma to the stage, engaging in a thoughtful conversation about raising kids, making choices, staying humble, and working hard. After the conversation, he performed two memorable songs – one of his originals, as well as “The Room Where it Happened” from Hamilton. His portrayal of Aaron Burr in the musical earned him a Tony Award for Best Actor in a Musical and a Grammy Award for Best Musical Theater Album, both in the same year.
Insights from Leslie included:
- A great mentor makes time for you and tells you the truth.
- The thing we do beyond what our business card says – that’s our purpose.
- What are the 3-5 things you really want your kids to “get”?
- You can get better at anything you practice. This goes for both positive and negative things! If you are afraid to speak in public, for example, by continuing to “practice” not doing it, you’ll continue to get “better” at not doing it.
- Generous, humble leadership can make the team greater than they’ve ever been.
- Leave a “warm spot” for those who come after you. You may not always be the person doing a particular job.
- Practice authenticity with urgency and passion.
Breakout Sessions
Lessons Learned in Growing a Firm from 1 to 50 Employees in 5 Years (Tosha Anderson)
Lesson 1: Start by crafting a vision and a strategy.
You need a clear vision of both the work you want to do and the work you don’t want to do. For this reason, it’s important to get comfortable saying no. Executing the strategy is key to success.
Lesson 2: Build and empower a strong team.
Recruiting is just as important as sales, because you can’t grow without the right people to do the work. Remember – culture matters. It’s not just what leadership says, but how everyone shows up. A high-performing team member is far more valuable than any individual client. Also, keep in mind that relationships drive success. And finally, challenges are always opportunities in disguise.
HR Best Practices for Accounting Firms (Round Table Discussion)
4 No Cost Ways to engage your workforce:
- Say thank you! – be specific and provide examples with specific impacts
- Sponsorship – give them work beyond their scope and experience to allow them to grow
- Create a compelling vision – help the team to see your vision as more than just making money or getting more clients
- Coach through challenges – when team members are struggling, guide and support them by helping them build new skills
Accessing, Pricing, and Onboarding New Clients (Brittany Brown)
Brittany Brown began by quoting Tom Magliozzi, saying, “Happiness equals reality minus expectations.” How often are we unhappy about something simply because we had a different idea in our mind about how it should go? In other words, a different expectation. Eliminate expectations, and you’ll find it easier to be happy!
She also emphasized the importance of starting where you are now and being open to going through many iterations with your business. Iteration, not perfection, is the secret to progress.
Brittany further discussed defining your pricing strategy and the importance of “getting it right.” You’ll have a better chance of success if you improve your discovery process and ask better questions. Once you begin a new client relationship, focus on refining your onboarding process.
Exactly What You Say: The Magic Words for Influence (Carlos Garcia)
Everyone is in the business of selling something. Instead of viewing yourself as selling a service, consider that you’re selling a feeling or an outcome.
Know what you’re selling and communicate it effectively. Bring influence into the situation by being curious. Keep the conversation flowing by answering a question with another question. He also reviewed six sets of “magic words” from the book Exactly What to Say by Phil Jones.
Fun and Photos
Although we were very busy learning and attending sessions, we did find time for some fun and photos!
Attending Intuit Connect 2024 was an invaluable experience for the MBS team. We left Las Vegas with a wealth of knowledge, new insights, and exciting tools to enhance our work with clients. With fresh perspectives on business growth, client relationships, and leadership, we’re more equipped than ever to support our clients’ success. (Here’s our recap of last year’s conference!)