Who's Really the BOSS?

Nate Goodman shares his remarkable journey from starting a church bookkeeping practice in 2019 to building a $1.7 million CPA firm by age 29. He opens up about the challenging early years that included eating rice and beans to survive, studying for the CPA exam with a newborn during COVID, and making crucial pivots that transformed his struggling practice into a thriving business. Connect with Nat...

After spending 20 and 30 years respectively at their previous firm, Anna and Gwen made the leap to start Hodges and Hergenrader in October 2023, and the results speak for themselves. In just 18 months, they've built a thriving practice with 177 new clients, $1.7M in revenue, and a team that doesn't work overtime during tax season. They join Rachel and Marcus to share the real story behind their di...

Rachel and Marcus dive into planning their upcoming Mexico retreat for all 26 Dillon Business Advisors team members and spouses. After surveying their team using Patrick Lencioni's Five Dysfunctions framework, they discovered areas for improvement in conflict resolution and peer accountability that will shape their four-day agenda. The conversation covers everything from budget-friendly internatio...

The traditional 1X revenue multiple for accounting firms is becoming a relic of the past, with some firms now commanding 4-6X EBITDA valuations. This episode explores the difference between selling a client block versus a true business, the rise of private equity platforms, and what really drives firm valuations in today's market. From acquihires to equity rolls, Marcus and Rachel break down deal...

Rachel and Marcus recap their recent RECHARGE conference, an in-person event for accounting firm owners that fostered deep discussions on KPIs, firm valuations, and incentivizing team performance. They highlight key takeaways including how current M&A deals are structured, the importance of optimizing Google Business Profiles, and practical automation tools that attendees implemented within da...

Rachel and Marcus are joined by Amy McCarty to discuss DBA's recent acquisition of a St. Louis-based accounting firm on January 31st - right in the middle of tax season. They explore the challenges of integrating different technology systems, managing team expectations, and maintaining client relationships during this critical period. Despite the timing challenges, the team shares how they've alre...

Rachel and Marcus discuss the critical period between April 15th and August 15th, which they call "improvement season" for accounting firms. They outline a structured approach to maximizing this time, starting with intentional rest and recovery, collecting team feedback while experiences are fresh, refocusing on core values, and refining processes and client relationships. They emphasize making ha...

Rachel and Marcus discuss the practical steps they took at Dylan Business Advisors to move from 70-hour workweeks to a sustainable 36-hour workweek year-round. They explore how evaluating and exiting non-ideal clients, refining service offerings, and implementing their "team of three" structure created significant capacity in their firm. The conversation covers both immediate relief strategies for...

Rachel and Marcus discuss the common problem of owners becoming the bottleneck in accounting firms under $3 million. They share their experience implementing their "Team of Three" structure to delegate work effectively, improve client service, and increase capacity without working more hours. They provide practical strategies for identifying your firm's constraints and restructuring your team to b...

Doug Lewis of The Visionary Group shares insider knowledge on the current accounting firm M&A landscape, revealing how valuation truly works and what buyers prioritize. He debunks common misconceptions about firm valuations and discusses why talent development, fee structure optimization, and understanding your top clients' goals are critical for maximizing your firm's value. The episode deliv...

Rachel and Marcus pull back the curtain on their recent acquisition of a CPA firm in St. Louis, sharing intimate details about their decision-making process and due diligence approach. They discusses everything from their old-school strategy of sending physical letters to potential sellers, to the critical importance of cultural alignment and preserving DBA's remote-first culture. Through personal...

Recruiting expert John Randolph pulls back the curtain on what it really takes to find and hire great accounting talent in today's market. Through candid discussion of compensation ranges, recruitment timelines, and workplace flexibility, John shares practical insights on why traditional hiring methods often fall short and what firms can do differently. This episode offers both tactical hiring adv...

Rachel and Marcus dive into how the principles from James Clear's Atomic Habits shaped both their personal lives and their accounting firm's transformation from 2016 onwards. They share three key principles they continue to use: making changes obvious and easy, designing supportive environments, and aligning habits with identity and values. Through candid examples - from their firm's transition to...

Rachel and Marcus dive into their approach to goal-setting for 2025, sharing both their firm's strategic objectives and personal development targets. They explore how breaking down larger goals into measurable chunks and establishing multiple layers of accountability helps ensure follow-through, even during challenging periods like tax season. Introducing Collective by DBA https://collective.cpa h...

Rachel and Marcus outline the key strategic decisions they're making at their $3M accounting firm as they plan for continued growth in 2025, including streamlining their technology stack, restructuring team capacity, and preparing for potential acquisitions. They discuss how they're managing recent team transitions and implementing new roles like subject matter experts to create advancement opport...

Attorney Sara Sharp shares her unique perspective on the evolving landscape of accounting firm ownership, compliance challenges, and acquisition trends. Drawing from her experience handling numerous accounting practice deals, she discusses creative alternatives to traditional partnership models, including phantom equity plans that align team member incentives without the complexities of direct own...

Rachel and Marcus dive deep into their marketing experiments at DBA, including a candid discussion of spending $500,000 on initiatives that didn't quite work out as planned. They share valuable insights about the importance of clearly defining your ideal client and services before investing in any marketing efforts, whether internal or outsourced. The conversation explores their successful strateg...

Rachel and Marcus are joined by DBA team member Lezlie Reeves to share how their firm successfully managed concurrent extended leaves. They share their detailed approach to documentation, training support staff, and maintaining client service standards during extended leave periods. Their experience demonstrates how small firms can create sustainable coverage plans while ensuring team members full...

Rachel and Marcus dive into how their accounting firm successfully converted two major clients into comprehensive monthly service relationships - one transitioning from annual tax services and another expanding their existing monthly engagement. They break down how establishing trust and proving value over time led these clients to naturally seek out additional services, rather than requiring hard...

Ben Gabriel joins Rachel and Marcus to discuss the transformative power of peer groups and advisory services for accounting firm owners. They explore how these communities provide a safe space for leaders to share challenges, celebrate successes, and gain valuable insights from others facing similar situations. The conversation delves into common issues like capacity planning and team management,...

Rachel and Marcus dive deep into their firm's evolution of time tracking and practice management, from old-school stamps to modern software solutions. Despite moving beyond billable hour pricing, they discuss how they leverage time data for capacity planning, pricing decisions, and firm valuation, Rachel and Marcus offer practical insights on implementing and refining time tracking processes, bala...

This episode explores the intersection of popular business operating systems like EOS (Entrepreneurial Operating System) and tailored solutions for accounting firms. Christine Nietzke, ODCP shares insights on the benefits and limitations of EOS implementation, while introducing the GRIP (Goal Ready Implementation Plan) approach developed by Collective by DBA. The conversation highlights the value...

Marcus and Rachel introduce Collective by DBA, the evolution of their accounting firm support initiative. They discuss the motivation behind creating this community, its focus on strategy, structure, and systems for firms of similar sizes, and the unique events and resources offered. They emphasize Collective's commitment to fostering meaningful connections and driving lasting change in the accoun...

Rachel and Marcus provide an in-depth look at the intricacies of CFO advisory meetings, using real-world examples from a marketing agency and a dental practice. Marcus breaks down the meeting structure, from initial connection to financial analysis and strategic planning, while emphasizing the importance of adapting to each client's unique needs. This episode offers valuable insights for financial...

Rachel and Marcus offer a comprehensive look at how accounting professionals can make the most of conferences and other learning opportunities. They share insights on navigating large events, creating focused learning experiences, and implementing new knowledge effectively. They cover topics such as team preferences for training, strategies for networking, and tips for turning conference insights...