Who does the selling to grow your accounting business?
If you’re the driving force behind your accounting, bookkeeping, or tax preparation business’s sales, it may be affecting the value of your company. Investors and acquirers often shy away from businesses where the owner is the primary rainmaker. This reluctance stems from the fact that the business’s value is heavily reliant on the owner’s presence and efforts. If you are no longer a part of the equation, will the business still make sales?
Research from the Value Builder System™—an analysis involving more than 70,000 businesses—reveals that companies capable of operating successfully without their owner for at least three months are more than twice as likely to receive a premium acquisition offer (defined as more than 6x pre-tax profit). To maximize the value of your business, especially in professional services like accounting and tax preparation, it’s essential to empower your employees to take the lead in selling your services.
Why Employees Can’t Sell Like the Owner in Professional Services
It’s common for many junior associates or new hires in accounting and bookkeeping firms to struggle with selling at the same level as the business owner. This discrepancy arises from a few key factors:
Experience and Reputation: As the founder, your experience is a significant asset. You’ve built a reputation that instills trust in your clients, and this credibility is hard to match by newer employees who are still establishing themselves in the industry.
Personal Authority: Founders often sell by providing a great client experience. This assurance is more convincing when it comes directly from you, the owner. You’re the one overseeing who works on each project, and clients know they can reach out to you directly if issues arise.
When junior salespeople or accountants try to leverage the firm’s reputation for customer service, it can come across as insincere or lacking the personal touch that clients have come to expect from their dealings with you. Matt Dixon, the author of The Challenger Sale, recommends a strategic approach to equip your team with a more effective sales message. He poses the critical question: “Why should your prospects buy from you?”
Developing a Compelling Sales Proposition
To develop a compelling sales proposition for your employees, particularly in the accounting and tax preparation field, consider these three crucial elements:
Customer Relevance: What do your clients in the accounting and tax preparation industry care about? They prioritize accuracy, compliance, and trustworthiness. Your team needs to highlight these aspects in their sales conversations.
Differentiation: What sets your firm apart from competitors? Maybe your accounting firm specializes in a niche market, offers a unique approach to tax planning, or has innovative bookkeeping technology that streamlines processes for clients.
Credibility: How can your salespeople make your firm’s value proposition believable? Use case studies, testimonials, and success stories that illustrate how your firm has positively impacted other clients’ businesses.
Strategies to Empower Your Employees to Sell More Effectively
Here are three strategies to help your employees sell more effectively in your accounting, bookkeeping, and tax preparation business:
Training and Development:
Sales Training: Invest in comprehensive sales training programs tailored to the professional services industry. Equip your team with the skills to articulate the value of your services confidently and effectively.
Role-Playing and Simulations: Use real-life scenarios and role-playing exercises to help your team practice handling different types of client objections and inquiries.
Leverage Technology:
CRM Tools: Implement customer relationship management (CRM) tools to help your team track client interactions, manage leads, and personalize follow-ups based on each client’s specific needs and history.
Data Analytics: Utilize data analytics to identify trends and opportunities within your client base. This insight can help your team tailor their pitches and identify cross-selling and up-selling opportunities.
Align Incentives with Sales Goals:
Performance-Based Incentives: Introduce a compensation structure that rewards employees based on their sales performance. This could include bonuses for reaching specific sales targets or commissions on new client acquisitions.
Team-Based Incentives: Encourage collaboration by rewarding teams for collectively meeting or exceeding sales goals. This fosters a culture of cooperation and shared success.
By empowering your employees with the right tools, training, and incentives, you’ll not only enhance their ability to sell effectively but also increase the overall value of your accounting, bookkeeping, or tax preparation business. Remember, a business that thrives without the owner being the primary salesperson is a business that is more attractive to investors and acquirers alike.
To learn more about how you can train your employees effectively to increase the value of your business, be sure to check out Universal Accounting Center’s training programs for growing accounting businesses. Call 435-344-2060 to learn more, or schedule a time to discuss things further online when it’s convenient for you:
At Universal Accounting Center, our mission is to help accounting professionals achieve success in their careers. We provide training, coaching, and resources that empower professionals to start their own accounting business, get a promotion, or grow their business. A major factor in bringing that mission to be is GrowCon, the premier event for owners of bookkeeping, tax preparation, and business advisory firms.
Over 100 accounting professionals gathered at the SouthBank Hotel in Jacksonville, Florida to hear from leading experts in the accounting industry. Universal Accounting Center President Roger Knecht and Vice President of Student Enrollment Clay Neves shared valuable strategies and insights for the business owners in attendance to take home and apply to their firms.
Let’s dive in further to the Universal lessons shared by Roger and Clay at GrowCon. For a full rundown of highlights from the other speakers at GrowCon, check out this blog.
Unlocking the Potential of Your Business with Roger Knecht
In today’s fast-paced business environment, staying ahead is crucial. Whether you’re an accounting firm aiming to enhance efficiency or a trade business seeking exponential growth, Universal Accounting Center is your premier partner in success. Roger shared that since its establishment in 1979, Universal Accounting Center has evolved from a traditional post-secondary institution into a state-of-the-art online independent study platform, delivering remarkable results for professionals.
Roger and Clay pose before the GrowCon gala
Roger shared the core tenants of Universal Accounting’s model, which boils businesses down to their foundations: Marketing, Accounting, and Production (MAP).
“Your goal as it relates to business is to actually, as the owner, build a self sustaining living, breathing business that can operate autonomously from you,” Roger said.
Roger warned against the danger of doing everything yourself as the business owner, and emphasized the need to establish repeatable protocols at the business and trust employees to carry out those protocols.
Geometric Business Growth Strategies
In Roger’s presentation, he emphasized the importance of focusing on the different areas of the MAP to bring about growth at the business. This is a holistic process, because improving the accounting at a business should allow the production phase to run more smoothly. Investing in one of the three core elements of the boat lifts all boats, allowing the business to grow geometrically.
A powerful tool to use in this pursuit is the Universal Business Builders program. UBB is a comprehensive business coaching program designed to elevate accounting firms and trade businesses alike. This program gives specific recommendations and strategies in all critical aspects of business management, including marketing, sales, accounting, and production. By employing a well-structured business model, tasks are categorized into three core areas: marketing/sales, cash flow/accounting, and workflow/relationships. This focused approach ensures businesses achieve unmatched efficiency through meticulous organization and effective delegation.
Universal Business Builders is committed to fostering motivation and driving tangible results. Key elements of the program include:
Motivation: Keeping you inspired and focused on your goals.
Financial Indicators: Providing crucial insights and indicators to monitor your business’s health.
Revenue Growth & Profit Improvement: Offering strategies to boost your bottom line.
Building Company Value: Ensuring long-term success and sustainability.
By understanding risks, enhancing value, setting achievable goals, and creating comprehensive exit plans, the program equips businesses with the necessary tools to thrive, Roger said.
“My job is to help you be successful. Trust me in the process,” Roger said in his presentation.
Roger’s Structured Coaching Program for Sustainable Success
Universal Business Builders employs a structured coaching methodology with monthly meetings and long-term commitments, ensuring continuous improvement in sales, cash flow, and production. Management and leadership figures in the business receive expert advice on maintaining profitability, monitoring financials, analyzing promotions, adapting offerings, and prioritizing growth through targeted marketing strategies.
Effective financial planning and delegation of responsibilities are crucial for business expansion, Roger said. The ultimate goal of any business, Roger said, is to increase its valuation. Universal Accounting Center emphasizes eight drivers for business valuation to achieve this goal, along with underscoring the importance of financial metrics. By outsourcing accounting functions, businesses gain valuable customer insights and can concentrate on core activities that drive growth, which creates a massive opportunity for qualified accounting professionals. Here are the 8 drivers of business valuation:
Financial performance: The business’ history of producing revenue and profit, combined with the professionalism of your record keeping.
Growth potential: Likelihood to grow the business in the future.
Switzerland structure: How dependent the business is on any one employee, customer, or vendor.
Valuation teeter totter: The cash flow health of the business. Is it a cash suck or a cash spigot?
Recurring revenue: The proportion and quality of automatic, annuity-based revenue each month.
Monopoly control: How well differentiated your business is from competitors in the industry.
Customer satisfaction: The likelihood that customers will re-purchase and refer your business.
Hub & spoke: How your business would perform if you unexpectedly were unable to work for a period of three months.
Diverse Revenue Streams and Recurring Revenue Models
Expanding and diversifying revenue streams are essential for business resilience, Roger said. Universal Business Builders assists businesses in managing cash flow effectively and transitioning to subscription-based client relationships. This shift stabilizes income through recurring revenue models, fosters clear client communication, niche marketing, and market segment ownership.
Advisory services are becoming increasingly critical in the accounting profession. Universal Accounting Center encourages accounting firms to apply these principles to develop successful, client-focused practices. By embracing the role of a trusted advisor, accounting professionals can offer invaluable insights that drive client success and foster long-term relationships.
Universal Accounting Center is not just an educational institution; it’s a catalyst for business transformation, Roger said. With Universal Business Builders, you gain access to unparalleled coaching, innovative strategies, and a wealth of knowledge that empowers you to build a self-sustaining, thriving business. Don’t just keep up with the competition—lead the way. Join Universal Accounting Center’s online platform today and unlock your business’s true potential.
“What we’re trying to do is proactively determine what does it how do we define success financially and backwards engineer that,” Roger said.
The Art of Setting and Achieving Business Goals with Clay Neves
In the fast-paced world of business, financial success doesn’t just happen by chance, Clay said. It is meticulously planned and executed.
At the heart of this process lies the critical practice of setting clear and specific financial goals. Understanding precisely what you aim to earn within a defined timeframe not only directs your actions but also activates your problem-solving capabilities. This presentation, delivered by Clay at GrowCon, delves into why goal-setting is paramount and how you can leverage strategies to achieve your desired income and value provision over one-year and three-year periods.
Clay gives his presentation at GrowCon 2024 in Jacksonville.
The Power of Specific Financial Goals
Imagine setting sail on a vast ocean without a destination. The chances of arriving where you want to be are slim. Similarly, in business, without clear financial goals, you are essentially navigating without a map. By pinpointing what you want to earn and the value you wish to provide, you create a roadmap that guides your daily actions and decisions. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART), enabling you to track progress and make necessary adjustments along the way. Here are a few of the strategies Clay shared in his presentations:
Strategies for Achieving Financial Goals
Generating Qualified Leads: Your business’s lifeline is a steady stream of qualified leads. These are potential clients who have shown interest in your services and are likely to convert. Focus on attracting these leads through targeted marketing efforts and strategic networking.
Converting Leads into Clients: Once you have a pool of qualified leads, the next step is to convert them into paying clients. This involves nurturing relationships, understanding their needs, and demonstrating how your services can meet those needs effectively.
Efficient Service Delivery: Delivering your services efficiently is crucial to maintaining client satisfaction and ensuring repeat business. Streamline your processes to maximize productivity without compromising on quality.
Self-Financing through Sales and Profitability: Relying on sales and profitability for financing your business is a sustainable approach. It eliminates the need for external funding, reducing financial risks and increasing control over your operations.
Creating a Sales Funnel with AIDA: The AIDA model—Attention, Interest, Desire, Action—is a powerful framework for guiding potential clients through the buying process. Start by capturing their attention, pique their interest, build desire for your offerings, and prompt them to take action.
Leveraging Personal Relationships for Business Growth
Your network is a goldmine of opportunities. Leveraging personal relationships, including friends, family, and existing clients, can significantly expand your business reach. Use practical scripts and strategies to contact these individuals, build genuine relationships, and set appointments to close deals. This approach not only generates referrals but also strengthens your support system.
As you grow, transitioning from time-intensive sales methods to online strategies and social media can scale your efforts. Mastering digital communication tools and platforms allows you to reach a broader audience and engage with clients more effectively. Understanding client needs through online interactions can provide valuable insights for refining your services.
Achieving financial success often means you can start investing in people to handle tasks, allowing you to focus on strategic growth. Building a team or network to offer comprehensive services creates a sustainable business model that can operate independently of you. This not only promotes financial stability but also grants you the freedom to explore new opportunities and innovate.
In conclusion, setting and achieving financial goals in business is an ongoing process that requires clear direction, strategic actions, and the willingness to adapt. By focusing on qualified leads, efficient service delivery, leveraging personal relationships, embracing online strategies, and investing in people, you can build a thriving, sustainable business. So, chart your course, set your goals, and embark on the journey to financial success and freedom.
Access the Full Presentations
Roger and Clay shared powerful insights for improving the operations of your business, but their presentations are truly the tip of the iceberg when it comes to the amount of game changing insights that presenters shared at GrowCon. Each speaker shared valuable insights for running an accounting business, from building wealth, optimizing processes, and beyond.
Fortunately, you can access the full collection of presentations virtually for just $197. Purchase the complete list of presentations at both days of GrowCon at this link.
GrowCon 2025
At the conclusion of GrowCon 2024 in Jacksonville, Roger and Universal Accounting Center Event Manager Christi Richards gave a recap of the Pre-Con VIP events, and announced the location for GrowCon 2025: Provo, Utah!
GrowCon 2025 will be held from May 5 to 7 at the Utah Valley Convention Center. Marriott Provo will be the host hotel for the event.
To learn more and register for this can’t miss event for owners of accounting businesses, follow this link.
The lineup of speakers will include experts in tax planning, business development, and client advisory services. Check out highlights from previous GrowCons for free here.
Looking Ahead to 2025
Thank you to all of the speakers who shared their incredible insights at GrowCon 2024 in Jacksonville, Florida. We are extremely excited for GrowCon 2025 in Provo, Utah.
To learn more about how you can start your own accounting business, improve your services, or train your employees, call Universal Accounting at 435-344-2060. Or schedule a time to discuss your future online using this calendar:
For owners of accounting, bookkeeping, tax preparation, and advisory businesses, the opportunity to work ON the business and collaborate with fellow entrepreneurs at an event like GrowCon is truly invaluable.
Scores of the over 100 business owners in attendance raved about the strategies they were taught for elevating their firm to new heights from presenters on Day 2 of GrowCon 2024.
Five speakers presented actionable tips for improving operations at accounting firms in the ballroom of the Southbank Hotel in Jacksonville, Florida on May 7. Also on Day 2, Universal Accounting Center President Roger Knecht and Event Planner Christi Richards led a Q&A panel with the audience, revealed the location for GrowCon 2025, and awarded raffle prizes from the event’s sponsors. Check out the highlights from Day 1, including presentations from Main Street Tax Pro’s Mark Kohler and Sean Duncan of SMD Consulting & Accounting here.
Among the topics covered by presenters and panelists were how to help employees reach their potential, how to build wealth outside of the business by shredding debt, and software applications and other tools to make the business operate more efficiently.
Conference attendees also participated in workshops and exercises led by Universal Accounting Center Vice President of Enrollment Clay Neves.
The insights shared at GrowCon were specifically designed to help the owners of bookkeeping, tax preparation, CFO/advisory and accounting businesses achieve the vision they have for their firm. Here are highlights from the presentations on Day 2:
(These highlights barely scratch the surface of what these great presenters shared at GrowCon. You can access the full presentations from both days of GrowCon here.)
Terrell Turner – CEO of TLTurner Group
The talent cycle is a heavily discussed topic in the world of accounting, Terrell Turner said. They often say the talent pipeline is drying up, but Turner has seen the start of the pipeline isn’t the only employment obstacle firms are struggling with.
“For years we’ve been funneling people into the profession, but when they get through the pipeline, there’s nowhere else to go,” Turner said. “Employees will ask, ‘What is my trajectory? What is my growth potential? What can I do afterwards?’ When there aren’t good answers to those questions, people leave.”
Terrell Turner
Turner realized that there’s a difficult balance to achieve with employees: they need a growth path laid out for them that allows them to reach their potential. That means challenging them to do the best they can, because if they’re left to chug along and take care of their responsibilities with little oversight, they’ll likely jump ship when another opportunity arises elsewhere.
That’s why Turner developed the Golden AGE method for firm growth. Instead of giving employees the sink or swim approach, picking one person to train and develop, or evaluating performance purely by the numbers, Turner’s model zeros in on using clear criteria to evaluate employees with room for them to grow. Let’s explore Turner’s method further:
AGE is an acronym for performance evaluation. At the end of each month, Turner’s company uses a rubric to measure employee performance on a scale from “Average,” “Good,” and “Excellent.” Turner used a bookkeeper as an example for how the evaluation model works: the Average capacity at his firm is to prepare the books for 15 clients a month, with the expectation to deliver reports on time, and with accuracy rating at 75%. Good performance would be slightly above average, so: preparing the books for 20 clients per month, one day before close (rather than right on time) and 80% accurate. Excellent is 25 per month, three days before close and 90+% accurate.
This model ensures that everyone is “rowing in the same direction,” Turner said. It makes it easy for the employee to identify their key priorities, but also allows them space to excel. Turner said it’s important to acknowledge that no employee will perform at the same level each month. Life happens. As long as the employee is reaching the “Average” performance markers, the firm will reach its goals. Turner recounted an example of a senior accountant who was dealing with problems taking care of her child. He told her that he’d rather have her perform at an average level and not feel like she’s failing as a mother.
It’s important to note that these evaluation criteria strictly measure a month (or quarter’s) worth of performance. The employee is not an “Average,” “Good,” or “Excellent” person. Turner makes it a priority for his employees to understand that “Average” performance is completely fine with him. People thrived when they had that clarity.
Adam Carroll – Chief Education Officer of The Shred Method
Renowned financial literacy expert and celebrated author Adam Carroll spoke on how to grow wealth OUTSIDE of the business. Most business owners focus on their business because it’s their main asset, but Carroll warned that “if you’re not selling the business, then you’re buying it.” Improving the value of your business comes with significant investments of time and income, so even if the asset is completely the property of the business owner, if the goal of the business isn’t to sell the business, it can weigh heavily on the entrepreneur.
Adam Carroll
Carroll said that most business owners who are struggling to build wealth don’t have an income problem, they have a liquidity problem. When most people have extra money in their checking account, they are happy and want to spend that money on hobbies (in Carroll’s case, kayaking). Instead, Carroll recommends putting your income into a “Shred Account.” Everything that is left over in that account after the mortgage, car, and other debts are paid, is used to blast debt down. Carroll emphasized the power of paying off debt quickly and broke down several strategies for reducing debt quickly. These insights are valuable for both accounting business owners, and the clients they work with:
Like with most things, habits tend to dominate how people think about their finances. The bank deposits the paycheck into a checking account, and people can either 1. Pay for their expenses, 2. Eliminate debt, 3. Build wealth, or 4. “frolic” with it. People tend to only do options 1 and 4 because they’re habitual. But breaking that habit, and dedicating your money to outrunning your interest payments, is a much more beneficial financial strategy in the long term. Carroll noted that mortgages and interest rates are based on what the bank thinks the lender can afford to pay. But you can skip months of payments (on a mortgage for example) by paying in a lump sum. “We’re prepaying all that principal on the mortgage,” Carroll said.
Everyone could be out of debt within 3 to 7 years, Carroll said. However, because most homeowners don’t start paying the principal portion of the mortgage until the last 10 years of the loan, they have no liquidity to build wealth and pay down that interest. Moving before the loan is completed, or refinancing, sets that clock back.
Carroll recommends opening a Home Equity Line of Credit (HELOC) on their home as their “shred account”. It’s a simple interest vehicle, meaning the interest is calculated daily. So if a person borrows from their line of credit on the HELOC (which should be about 150% of their monthly net income), allows them to pay more of their mortgage down, saving tens and even hundreds of thousands of dollars in interest.
Carroll also highlighted the concept of “recasting” a mortgage, which allows a homeowner to maintain their interest rate, but pay down the mortgage enough to shrink the payments in a major way.
Laura Ferguson – Vice President of Sales & Business Development at The Value Builder System
Laura Ferguson spoke about what she calls “The Endgame Conversation,” and the problem that so many accounting business owners face when they’re ready to move on from their firm: “How do I sell this?”
Laura Ferguson
Ferguson experienced the frustration of being burnt out at her business and like she was ready to move on, but, though she loved her accountant, she didn’t trust him to broker the sale. Ferguson admonished the business owners in attendance to have the Endgame Conversation with their clients, and to also be thinking ahead about their intentions with their own firms.
She outlined the benefits of being able to have the Endgame Conversation as an accounting business owner. Here are the highlights from her presentation at GrowCon:
80% of businesses aren’t sold. Most people don’t control their exit. Most businesses simply close when the business owner passes away, gets divorced, or can no longer work.
Ferguson found that the advisors at Value Builder who were having the Endgame Conversation with their clients were able to charge more for their services, on average, and worked with more clients. Business owners start to look for outside help when they feel like it’s time to sell. Ferguson said business owners spend 59% more on advisory services when they decide to exit. That creates a huge opportunity for qualified advisors.
In the initial conversation that many advisors have with prospective clients, they often take a very casual approach. They ask general questions about the business, and what the business’ biggest challenges are. Ferguson warned against this approach because it’s been overdone and business owners are beginning to see that approach for what it is: spin selling. Instead, Ferguson recommends advisors avoid the questions everyone else is asking their prospective clients, and bring the Endgame Conversation up early.
Vanessa Vasquez – QuickBooks Trainer and Consultant
Technology moves so quickly. Vasquez noted that in society, technology transforms our worlds in small ways for a while, and eventually all at once. A few people had smart phones in the late 2000s, but by the middle of the 2010s, they were universally used. The firm owners who will have the most success, especially in the era of automation and generative AI models, will be those who embrace new technology, Vasquez said.
Vanessa Vasquez
Vasquez shared a number of solutions for optimizing productivity as forward thinking accounting professionals. Here are a few of the strategies and resources she recommended implementing:
Automation is a wave of technology that has already revolutionized the industry. Enhancing efficiency and enabling innovation comes down to streamlining processes and repetitive tasks to boost productivity. Among the many benefits automation allows for are reducing human error, reducing time spent on frivolous tasks, and increased focus on strategic tasks.
Vasquez recommended using Google Workspace to organize a schedule, Calendly to set appointments, Anchor to create invoices and process payments from clients, Keeper for completing simple bookkeeping tasks, and QuickBooks Online for more advanced bookkeeping tasks. She notes that Microsoft Excel is not a bookkeeping software. The actual software the firm owner chooses will come down to what is right for them, but the important thing is to have integrated systems across these applications, Vasquez said.
Vasquez shared a number of actionable tips for increasing productivity at a firm, including identifying key tasks that could be automated in your workflow, taking professional training to effectively use the new tools (she says that most people underestimate how helpful customer services people can be when using a new software), regularly participating in webinars and conferences, and engaging with other industry peers through professional networks and online forums.
“Technology is the campfire around which we tell our stories.” – Laurie Anderson
Heather Hurst – Vice President of Marketing at Canopy
Heather Hurst presented strategies for finding your differentiator in a world of “Same” when it comes to marketing a firm’s services. Because marketing is an infinite task in the sense that one can always do more, it’s important to develop strategies that show off what makes one different, and what additional value they can provide to their customers.
Heather Hurst
Given that you could always technically do more, one of the most important things about marketing is establishing a baseline of how you will market your services. But pacing yourself might be even more important.
“It’s better that you start and stay consistent than jump in and get burnt out,” Hurst said. Let’s review some key points from Hurst’s presentation at GrowCon:
A great place to start developing a marketing plan, Hurst said, is to look at two-to-five competitors and tear apart their approach. What do you like and dislike about their marketing? What additional value do you provide to customers?
Hurst is a big proponent of getting feedback from clients. Yes, one should always be asking for favorable Google Reviews from their clients, but Hurst encouraged the business owners in attendance to get an honest review of their marketing from their clients. This can be very helpful when searching for a niche, and for writing a brand statement.
Don’t fear the blank page. The thing that separates you is your perspective, and you have to find a way to communicate that perspective to your clients. Whether it’s on LinkedIn, in short videos, or short blogs, you need to adhere to that baseline you set for yourself. One or two pieces of content per week is fine. Hurst warned against leaning on ChatGPT for marketing because it makes up information and misquotes sources regularly. (Bonus tip from Hurst at GrowCon: ChatGPT is great for finding Excel formulas).
Panel – Roger Knecht (UAC), Robyn Mons (UAC), James Donovan (Nine Two Media) and Dean Haupt (Matrix Tax Services)
Before the close of the conference, a panel of experts, including Roger Knecht, Robyn Mons, James Donovan, and Dean Haupt, discussed various strategies for building a successful accounting firm and fielded questions from the audience. They stressed the importance of surrounding oneself with successful individuals, overcoming mindset blocks in business, and monetizing LinkedIn profiles.
On stage from left: Christi Richards, Roger Knecht, Robyn Mons, James Donovan, and Dean Haupt.
Mons, who works as Universal Accounting Center’s Life Coach, emphasized starting work with a positive mindset, how to tackle imposter syndrome, and strategic decision-making in hiring.
Panelists offered advice on documenting processes, delegating tasks, and focusing on revenue-generating activities to enhance business growth. They also discussed factors affecting company valuation, such as customer lists, staff quality, and operational procedures, were highlighted, along with improving SOPs and employee retention.
The conversation covered starting an accounting business, gaining industry experience, and outsourcing’s impact on valuations. They addressed risks associated with outsourcing, leveraging LinkedIn for client acquisition, and productivity improvement tips. Emphasis was placed on fair comparisons, managing expectations, networking, and marketing oneself effectively. Starting small, setting proper expectations, consistency, and prioritizing marketing activities were recommended. The significance of confidence, competence, planning, sales, and taking action was underscored.
Advice was given on creating educational videos, starting a company while working full-time, transitioning from part-time to full-time work, and innovative marketing strategies like sending books for referrals. Commitment, focused content creation, and cumulative efforts over time were stressed as crucial for business success.
Access the Full Presentations
The tips shared in this article are truly the tip of the iceberg when it comes to the amount of game changing insights that presenters shared at GrowCon. Each speaker shared valuable insights for running an accounting business, from building wealth, optimizing processes, and beyond.
Fortunately, you can access the full collection of presentations virtually for just $197. Purchase the complete list of presentations at both days of GrowCon at this link.
GrowCon 2025
At the conclusion of GrowCon 2024 in Jacksonville, Knecht and Richards gave a recap of the Pre-Con VIP events, and announced the location for GrowCon 2025: Provo, Utah!
GrowCon 2025 will be held from May 5 to 7 at the Utah Valley Convention Center. Marriott Provo will be the host hotel for the event.
To learn more and register for this can’t miss event for owners of accounting businesses, follow this link.
The lineup of speakers will include experts in tax planning, business development, and client advisory services. Check out highlights from previous GrowCons for free here.
Looking Ahead to 2025
Thank you to all of the speakers who shared their incredible insights at GrowCon 2024 in Jacksonville, Florida. We are extremely excited for GrowCon 2025 in Provo, Utah.
To learn more about how you can start your own accounting business, improve your services, or train your employees, call Universal Accounting at 435-344-2060. Or schedule a time to discuss your future online using this calendar:
At Universal Accounting Center, we live by the mantra “Your success is our success.” Part of our ongoing mission to empower accounting professionals is GrowCon, an annual conference for owners of bookkeeping, tax preparation, and CFO/advisory businesses. The yearly conference is an unmatched opportunity to learn from leaders in the industry, network with fellow accounting business owners, and dedicate time to actually working ON the business.
This year’s version of the conference was held on May 5 and 6 at the Southbank Hotel in beautiful Jacksonville, Florida. Attendees were enriched by presentations from some of the brightest minds in accounting, including Mark J. Kohler, Terrell Turner, Heather Hurst, and Universal Accounting Center President Roger Knecht.
Over 200 professionals joined in the event, both in person and via a first-time ever virtual simulcast of the presentations. The accounting business owners in attendance raved about the experience, from the lessons shared by presenters, to the gala event, to the VIP events before the conference officially began.
“There were so many times where it seemed like the speaker was giving advice directly to me,” one attendee said. “I am so excited to get home and get to work.”
Pre-Con VIP Experience
Part of what makes GrowCon special is the organizers’ special emphasis on making the experience enjoyable beyond the typical conference offerings.
“I’ve travelled all over for business conferences,” Knecht told the audience of attendees. “But oftentimes, all I’d get to see while traveling for these event was the airport and the hotel where it was being held. That’s why we like to give you the opportunity to do a little sight seeing while you travel for work.”
Many accounting business owners don’t get many opportunities to relax and let their hair down. That’s the goal of the Pre-Con V.I.P. Experience.
Attendees who sign up for the V.I.P. package arrive the weekend before the conference, and gather with members of Universal Accounting’s team for a weekend full of fun.
In Jacksonville, V.I.P.s enjoyed an airboat wildlife tour through the swamps, filled up on downhome southern barbeque, and ended the night with a special dinner and a show event.
“Pre-Con is definitely the way to go,” said Andrea Walker. “There’s so many unique opportunities to get to know people and enjoy yourself before the conference.”
Presentations from the Industry’s Best
The meat and potatoes of GrowCon is obviously the presentations from accounting experts. Jacksonville native and CEO of Growth Amplifiers, Kenny Harper, was the first to address the audience, and he gave a powerful presentation on how to authentically attract and enroll more clients.
“Small hinges open big doors,” Harper admonished the audience.
Highly respected founding and senior partner of KKOS Lawyers, Mark J. Kohler, shared a number of specific insights firm owners can use to save their clients money come tax season next. Kohler named 5 strategies that every accounting professional needs to know in order to “wow” their clients: using a “trifecta” framework with clients, capitalizing on S-corporations, real estate losses, using boards of directors and advisors, and self-directing real estate for retirement savings.
The strategies he shared were all practical and applicable without scores of legwork, both for accounting business owners and their clients.
David Safeer, founder of Cash is Clear Learning Systems, highlighted some of the common misconceptions that businesses fall into when they’re facing cash flow problems. Many of the common strategies the internet presents for improving cash flow actually make the problem worse, Safeer said.
Terrell Turner, founder of TL Turner Group, shared a powerful model for measuring and improving the performance of employees at the firm called “The Golden AGE Model.” Essentially, you grade employees on a three point scale: “Average,” “Good,” and “Excellent.” When everyone achieves at an “average” level, the company will reach its goals. Employees have a lot going on in their life that can affect performance. Turner’s model encourages the employees to not overextend themselves when real life come calling, and rewards them for excelling when the moment is right.
The conference featured a number of great insights on how to make the most of your business as an asset. Renowned financial literacy expert Adam Carroll outlined a model for growing wealth outside of your business called the Shred Method. This is a process of shifting habits outside of the business in order to view it as an asset that the owner will eventually sell. It’s also crucial to attack debt in a comprehensive way, Carroll said, in order to increase your own cash flow and allow you as a business owner to build wealth.
Attendees were also delighted with the stylings of productivity and technology expert Vanessa Vasquez. Vasquez shared a number of practical software and other resources for making an accounting firm more efficient, and encouraged the audience to embrace technological change in their business, including when it comes to automation.
Resources Designed to Take Your Firm to New Heights
A key element of GrowCon outside of the presentations themselves were the sponsors, who each offered valuable resources for the owners of bookkeeping, tax preparation and accounting businesses in attendance during lunch time, breaks, and other free periods.
In these pauses, attendees browsed the booths of the different sponsors. The professionals in attendance received a passport at the start of the event that they took with them to each of the booths, where the sponsor would give them a sticker for learning more about their services. If attendees collected stamps from all 13 sponsors, they were entered into an end-of-event raffle, with a range of fantastic prizes given out from the sponsors, including a Smart TV, a drone, a $200 Amazon gift card, and Apple Airpod headphones. Let’s take a moment to highlight our sponsors and the valuable resources they offered to attendees.
Anchor is an autonomous billing and collections service that makes proposals, invoices, and payments easy to manage. They presented a tech demo of their services on Day 2, showing off their powerful dashboard for tracking finances with clients. Their system allows accounting business owners to easily create a library of their accounting services to quickly make proposals, makes signs documents from any device easy, and harnesses the power of automated invoicing. Learn more about how to use Anchor here.
Nine Two Media makes the process of finding ideal leads for accounting, CFO, and tax firms easier using the power of LinkedIn. This company finds prospective leads on LinkedIn, calls them to book an initial consultation, reminds them of the meeting, and then passes the control over to the firm owner to meet with the client and send a proposal. James Donovan, founder of Nine Two Media, joined a panel of analysts who answered a plethora of questions from attendees, and shared valuable insights on how to leverage social media to generate leads. Learn more about how to sign up for their services here.
The CFO Project is a turnkey, foolproof system for CPAs, accountants and bookkeepers looking to add outsourced CFO services to their arsenal. Essentially, The CFO Project provides accounting business owners with training, certifications, and resources to carry out the responsibilities of a CFO with their clients. Their system includes a powerful “scoreboard” to use in tracking the performance of key metrics, as well as a model for client acquisition that guarantees you’ll get the leads you need to meet your goals. The company’s founders, Adam Lean and Jeff Prager, spoke at GrowCon 2023. Here’s a link to more information about The CFO Project, as well as how to sign up.
Mark J. Kohler is the founder of KKOS Lawyers and developer of the Main Street Tax Pro certification course. In addition to speaking at the conference, Kohler shared a number of actionable insights with attendees. He champions alternative investing models and out of the box tax solutions designed to save the small business owners of America as much as they can each tax season. His experience, bravado, and ingenuity shined brightly throughout the conference.
Directed IRA is an investment company co-founded by Kohler that allows business owner to self-direct the earnings they receive from their retirement Roth IRA plans. Kohler noted at the conference that most investment groups put retirement funds into the same types of investments, like the S&P 500 for example. But the truth is that anyone can invest their retirement into just about anything they want. Directed IRA gives people agency over how their money is invested and allows them to capitalize on overlooked markets and opportunities.
Alpha Accounting Services provides a number of solutions in the accounting space, including full service bookkeeping, tax preparation and more. But Alpha goes beyond providing services directly to businesses, their goal is to be a trusted outsourcing partner for entrepreneurs in all industries, and especially for accounting firm owners. This includes opportunities to outsource certain tasks to overseas accounting professionals connected to Alpha Accounting Services.
Alyssa J. Dillon is an expert marketing coach and business analyst with lived experience building an accounting firm from the ground up. Dillon has developed a comprehensive model for marketing accounting services, including strategies for leveraging social media, email outreach, blogs and webinars to generate new leads. She shares life-strategies that help accountants and advisory firm owners create wealth for themselves and make a giant impact in their communities, and shared great advice to the accounting firm owners in attendance at her booth.
BooXkeeping offers outsourced bookkeeping services that can eliminate the burden of tracking expenses and keeping financial records organized. The company also provides a model for starting an accounting business through franchising, which can be an attractive model for many bookkeepers and tax preparers. Learn more about BooXkeeping and how to sign up here.
Ignite Funding offers real estate investments backed by collateral – you are the bank, earning monthly income for the use of your investment dollars. Ignite provides an alternative investment option that matches quality real estate borrowers with investors seeking capital preservation in collateralized turn-key real estate investments, while earning a 10% to 12% annualized return.
Bookkeep is a software that allows you to automatically book and reconcile selling and payment platforms. It imports that data right into your accounting software, allowing you to complete accurate daily sales and payment summaries, and more. Bookkeep integrates over 60 ecommerce and point of sale platforms, making niche platforms and multichannel selling seamless to integrate into your bookkeeping software. Vice President of Marketing & Communications Alison Ball presented at the conference on how to build resiliency in the face of change.
CLOUDIT Automation & Accounting Services delivers a seamless process that integrates the best of automation and remote staffing to revolutionize back-office operations for accounting firms. By combining the precision of automation with the expertise of remote staffing, CLOUDIT empowers your accounting firm to operate more efficiently, reduce costs, and focus on growth.
Thank you to all of the wonderful sponsors who helped make the event a boon for small business accounting firm owners. A special thanks as well for the items they donated for the raffle at the end of the event. What a collection of resources for accounting professionals!
Celebrating the Unsung Heroes of the Accounting Industry at the GrowCon Gala
One of the most difficult parts of being a small business owner, regardless of industry, is the lack of recognition that comes for the hard work of running the business. That certainly rings true for accountants. No matter how hard a firm owner may work, they’re rarely, if ever, celebrated for the progress they led.
A major focus of GrowCon is filling that void of celebration with an Academy Awards style gala for the hard working firm owners who give so much time and effort to their business.
At the end of the first day’s presentations at GrowCon 2024, attendees gathered in the Ballroom of the Southbank hotel and were treated to dinner, live entertainment, and award presentations. Universal Accounting Center President Roger Knecht and Event Director, Christi Richards, handed out 28 awards in total to attendees for their performance at their business in 2023.
The awards range from the fastest completion of Universal Accounting online courses, to best logo, to most improved business. Congratulations to the award winners. For a full list of the award winners, click here.
Getting Ready for GrowCon 2025
GrowCon 2025 will be held in Provo, Utah, from May 5 to 7 at the Utah Valley Convention Center. Marriott Provo will be the host hotel for the event.
To learn more and register for this can’t miss event for owners of accounting businesses, follow this link.
The lineup of speakers will include experts in tax planning, business development, and client advisory services. Check out highlights from previous GrowCons for free here.
For more information on how you can start your own accounting business and be recognized at GrowCon 2025, call 435-344-2060, or schedule an appointment online to discuss your future when it’s convenient for you using this calendar:
One of the most difficult parts of being a small business owner, regardless of industry, is the lack of recognition that comes for their hard work.
In the accounting industry, that certainly rings true. No matter how hard a firm owner may work, they’re rarely, if ever, celebrated for the progress they led at their business.
That void of recognition is filled each year at GrowCon, the premier event for owners of bookkeeping, tax preparation, and advisory businesses. Along with two days worth of presentations from thought leaders in the accounting industry, attendees are treated to dinner, live entertainment, and award presentations at the annual GrowCon Gala.
These awards are given by Universal Accounting Center officials to the accounting business owners in attendance. Celebrating the unheralded, driven accountants who give dedicate the time, energy, and focus it takes to run a firm their due is a key function of GrowCon.
At the GrowCon Gala in 2024, held at the Southbank Hotel in Jacksonville Florida, Universal Accounting Center President Roger Knecht and Event Director, Christi Richards, handed out 28 awards in total to attendees for their performance at their business in 2023.
The awards range from the fastest completion of Universal Accounting online courses, to best logo, to most improved business. The following is a complete list of awards handed out on May 6 in Jacksonville. Congratulations to the award winners, and we hope to celebrate you once again at GrowCon 2025 in Provo, Utah!
The Best and Brightest from GrowCon Gala 2024:
Fastest Completion of Universal Accounting’s Professional Bookkeeper QuickBooks Online program: Anton Semenov
Niche Market Award 2023: Expert Accounting Consultants
Traveled the Farthest to Attend GrowCon 2024: Pranav Jani, Alpha Accounting Services Corporation
Best Boss 2023 (tie): Kim Fader, Ancient City Accounting, LLC + Kristy Pack, PACK Tax
Most Fun Accounting Professional 2023 (tie): Kim Fader, Ancient City Accounting, LLC + Kristy Pack, PACK Tax
Out of the Box Award, 2023: David Safeer, Cash is Clear Learning Systems
Best Business Name 2023: Accountabilities & More LLC
Best Logo 2023: Matrix Tax Services
Best Tag Line 2023: Accountabilities & More LLC – “Balancing Your Books, Maximizing Your Returns.”
New Service Offering 2023: Impact Global Solutions
Most New Locations 2023: BooXkeeping
Most Improved Business 2023: PACK Tax
Rookie of the Year: Malinda Olupitan, Koinon Integrity Bookkeeping
What an impressive list of accounting professionals! Our sincere congratulations to everyone who earned an award at GrowCon 2024. We cannot wait to celebrate you again next year.
GrowCon 2025 will be held in Provo, Utah, from May 5 to 7 at the Utah Valley Convention Center. Marriott Provo will be the host hotel for the event.
To learn more and register for this can’t miss event for owners of accounting businesses, follow this link.
The lineup of speakers will include experts in tax planning, business development, and client advisory services. Check out highlights from previous GrowCons for free here.
For more information on how you can start your own accounting business and be recognized at GrowCon 2025, call 435-344-2060, or schedule an appointment online to discuss your future when it’s convenient for you using this calendar:
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