Episode 71

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Published on:

6th Feb 2024

Symptoms Versus Causes

Ever wondered how tackling the root causes of business problems instead of just the symptoms can transform your efficiency, especially during the hectic tax season? 

Hosts Damien Greathead and Penny Breslin discuss the crucial topic of identifying and addressing the symptoms and root causes of problems in a business process, especially in the accounting field. They emphasized the importance of stand-up meetings, having cross-team communication, and using the right tools to increase efficiency. They also highlight the need for identifying the root causes of problems rather than masking the symptoms, drawing parallels between dealing with problems in business and daily life. They also delve into specific cases they have encountered, such as dealing with issues of workflow, the effectiveness of having a third-party perspective, and how to optimize roles within a business.

[00:00 - 12:03] Team Leaders and Group Meetings and Applying Personal Experiences to Business Practices

  • Penny and Damien talk about the onset of tax season, with Penny outlining the office's current tasks.
  • The focus shifts to the importance of team meetings, specifically addressing the recent change from group to individual team leader meetings, 
  • Shared problems and goals can benefit from collective problem-solving.


[12:03 - 22:07] The Importance of Identifying and Addressing Root Causes and Building a Culture of Trust and Accountability

  • Penny and Damien talk about the importance of identifying and addressing the root causes of problems
  • External perspectives and early problem identification are valuable in teams.
  • They discuss how to improve efficiency and effectiveness in tax return process


[22:07 - 39:06] The Role of Firm Administrators in Workflow and The Impact of Different Processes on Team Morale

  • Penny and Damien share strategies for fostering a culture of personal accountability.
  • Creating a supportive work environment, encouraging open acknowledgment of mistakes, and the value of external perspectives are valuable in identifying and solving problems.



Direct Quotes:


"It takes a great culture to be able to put your hand up and say in front of other people, 'We screwed up the buck stops with me and we're going to fix it.'" - Damien Greathead


"You might find that the ten of you together could come up with a solution better than one-on-one." - Penny Breslin



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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


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About the Podcast

It's not Just the Numbers
Focused on CAS, this accounting podcast helps firm owners build their accounting and bookkeeping business with intention
It’s Not Just the Numbers is a podcast for accounting firm owners, leaders, and professionals building modern firms beyond compliance.

Hosted by Damien Greathead and Penny Breslin, the show explores what it really takes to create a sustainable, advisory-driven accounting practice in a profession undergoing rapid change. From technology, systems, workflow, and pricing strategy to leadership, client experience, staffing, and the future role of the accountant — this podcast goes beyond the spreadsheets and into the real conversations shaping the profession.

Each episode features practical insights, honest discussions, and lessons from firm owners, industry experts, technology leaders, and operators working at the forefront of modern accounting.

Whether you’re building a Client Advisory Services (CAS) practice, refining your operations, navigating AI and automation, or simply trying to build a better firm, It’s Not Just the Numbers delivers thoughtful conversations grounded in real-world experience.

Because the future of accounting isn’t just about compliance.

It’s about strategy.
It’s about relationships.
It’s about systems.
It’s about leadership.
And ultimately, it’s not just the numbers.

A Beyond Numbers podcast.

About your hosts

Penny Breslin

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Penny Breslin is the founder of MoneyPenny, a consulting firm specializing in helping accounting firms and other businesses embrace the power of technology to simplify their operations and increase their profit margins.

Drawing on her years of experience and her knowledge of what it takes to run a successful business, Penny oversees the development of back office processes for her client firms. From the initial evaluation of the firm’s workflow, to technology selection, and assisting in the on-boarding of the firm’s clients, Penny works with her clients to maximize the benefits of a paperless and cloud-based firm.

Damien Greathead

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Damien has been working in the accounting industry for more than 15 years. In addition to getting his hands dirty preparing tax returns and doing bookkeeping, but the bulk of his experience comes from consulting to both accounting firms and the technology companies that serve the industry.

He set up 2020 Group USA which was a membership group for small and medium sized accounting firms and then went on to set up Receipt Bank (now Dext) in North America.

He regularly speaks to industry bodies on technology, marketing and change management.