Unleashing the Power of Recurring Revenue to Grow Your Accounting Business

Last month, Darden, the genius behind the Olive Garden restaurant chain, made headlines by splurging $715 million to acquire Ruth’s Chris, the legendary American steakhouse. This hefty price tag implied a valuation of roughly one times last year’s annual revenue, or about ten times their adjusted EBITDA for 2022. Not too shabby for a corporate giant, right? But here’s the catch: Ruth’s Chris’s value might have been held back by its lack of recurring revenue.

Now, let’s do a little comparison exercise. Pit Ruth’s Chris against another traditional player in the business arena with recurring revenue, and you’ll see the magic of automatic customers in action. Take Waste Management, a private garbage collection company that handles trash disposal through long-term contracts. It’s trading at over three times its annual revenue. Yep, you heard it right—three times!

Using Recurring Revenue to Grow Your Accounting Business

So, here’s the big revelation: Recurring revenue isn’t just a game for software companies anymore. Even accounting businesses can cash in on the benefits of creating those sweet, reliable income streams. Let’s take the fascinating story of Gamal Codner, the mastermind behind Fresh Heritage, a line of men’s grooming products that didn’t start with a bang and see how it might apply to accounting businesses.

Codner, whose company started out selling only beard oil, initially used Facebook ads to reel in customers. At roughly $15 per pop, it was a tight squeeze on his profit margins, especially with an average order value of $30. That’s when he realized he needed a makeover in his business model. Codner expanded his product range and unveiled the VIP Club—a subscription program for gents who wanted their Fresh Heritage products delivered on autopilot.

A Subscription Program that Goes Beyond Discounts

But hold on, this wasn’t your average run-of-the-mill discount-driven subscription program. Codner did his homework, surveying about 500 customers and hitting the jackpot with some groundbreaking insights. Turns out, his target audience cared more about feeling like alpha males in their fields than just saving a few bucks. That insight aligned perfectly with Fresh Heritage’s mission to empower growth-focused men and boost their self-confidence.

To entice men into the VIP program, Codner went beyond mere discounts. He crafted a sense of community and belonging, emphasizing membership in a group of like-minded individuals striving for personal excellence. Gamal set up quarterly local meetups, where members could network and swap stories, turning these gatherings into a driving force that steered new customers towards the VIP experience.

From Customers to Subscribers

Fast forward, and Gamal had successfully transformed one-time purchasers into loyal subscribers. The average order value skyrocketed to over $60, and with the subscription program swelling to 3,000 members, Codner’s EBITDA margin soared to a whopping 40%. This impressive performance attracted the attention of BRANDED, a hub for digitally native, direct-to-consumer brands, which made Gamal an offer he simply couldn’t refuse in 2022.

So, what’s the moral of the story? Recurring revenue isn’t some elusive unicorn reserved for software moguls. As Fresh Heritage’s journey illustrates, you can whip up an annuity stream regardless of your business type. Find out what your customers crave on an ongoing basis, and you’ll have the golden ticket to creating a subscription offering that propels your business to new heights.

Lessons for Accounting Business Owners

We can see the value of adding recurring revenue streams for business owners, and this advice is applicable if you have started an accounting firm yourself. If you only offer one or two of the three core accounting services (bookkeeping, tax planning and preparation, and CFO/advisory services), providing additional services could pay dividends as it did for Codner at Fresh Heritage. Obviously there aren’t as many one-time sale opportunities for accounting businesses, but the lesson of turning sales into subscriptions is still valuable. Instead of just getting paid to do taxes for a client once per year, you could earn all year long by preparing their books as a Professional Bookkeeper.

CFO/advisory services are the holy grail of revenue for accounting businesses. Small business owners are desperate for the advice of a trusted, strategic advisor, and they’re willing to pay top dollar for that advice.

The recommendation to add recurring revenue streams through subscriptions is useful for your clients as well. This could be a game changer for them if you can help them develop a model that will keep their customers content in the long run.

The best way to add a new service and create a new, recurring revenue stream at your firm is the turnkey system developed by Universal Accounting Center. Whether you’re looking to add bookkeeping, tax preparation and planning, or advisory, Universal Accounting Center’s video trainings will give you and your employees the confidence and competence to offer quality accounting services to your clients. Call 877-801-8080 to learn more, or schedule a time to discuss how a recurring revenue stream could elevate your business using this link.

Request your Business Score to see how you can apply Recurring Revenue in your business as the premier accounting firm in your area.

Teena Chandler – The mindset you need to start a bookkeeping business.

Growing up in the rural town of Woodruff, Utah, Teena Chandler found salespeople to be “icky,” she said.

Even in a rural town with a population of less than 200 people, Teena remembers being regularly visited by door-to-door salesman as a child. She found the salespeople, who wanted to get the most out of their journey out to Woodruff, were off-putting with their insistence on closing the deal. She found they didn’t respect her and her family’s boundaries. These early interactions left a bad taste in her mouth about sales and being a businessperson. In fact, she fondly remembers having a bull on the family farm who would act as a guard dog and scare off door-to-door vendors.

Fast forward to 2023 and Teena is running a thriving bookkeeping business in Woodruff, traveling around the area to meet with clients to keep track of their financial records. She even gave a presentation to fellow accounting business owners at Universal Accounting’s annual conference, GrowCon, in May 2023. If you would have asked her if she could see herself running her own business 30, 20, or even 10 years ago, she undoubtedly would have answered, “No,” she said. So, how did she get here?

Teena’s journey to start a bookkeeping business

Teena had been attracted to numbers from a young age because of the perfect way they would match up when she solved a problem in school. She even told her mom when she was 10-years-old that she wanted to become a bookkeeper.

“There’s really no such thing as perfect in life, but when it comes to the numbers you can get pretty close,” she said.

But in 2014, Teena found herself feeling like she had no confidence. The thought of starting a bookkeeping business regularly ran across her mind, but had an ailing father and five children to care for, along with her job. No one in her life had ever modeled the behavior of starting a business, and in fact, her parents actively advised against starting any business of any kind in favor of a “poverty proud” mindset. Who could she even keep books for in tiny Woodruff, Utah? She said she felt clueless about where to start and disappointed about how she was showing up in her life.

That all started tp change with a call to Universal Accounting School and a shift in her own mental paradigm. For years, she had put off learning bookkeeping because she wanted to “have all of the ducks in a row” before she started. She spoke with an orientation counselor about her desire to learn bookkeeping and start her own business. That discussion helped accelerate a process that was already happening in Teena’s mind. She was starting to no longer see the challenges holding her back from starting a bookkeeping business as excuses, but rather as realities of her life that she could carry with her.

Teena enrolled in Universal Accounting’s Professional Bookkeeper training program to start a bookkeeping business. Things really came together when she attended GrowCon in 2020. Teena listened to presentations on how to run her business and networked with fellow accounting professionals in what she described as a “shame free environment.” This empowered her to really go for it, and she opened her bookkeeping practice, Perfect Balance Bookkeeping, in 2021.

The name is a representation of why she wanted to start a bookkeeping business in the first place: to achieve a better work life balance. She wanted to confidently serve her clients as a CEO, but more importantly, make more time to spend with her five children.

Running the bookkeeping business

Teena was keeping the books as part of her job as manager at a veterinary clinic. After graduating from the Professional Bookkeeper program, she made the clinic’s owner her first client at Perfect Balance Bookkeeping and left the job. She started to land clients without paying for any marketing materials.

“It’s kind of surprising to see the amount of people around you who run their own business and need help with their books,” she said.

Over the last nearly three years, Teena has built a nice pool of clients that keep her as busy as she wants to be through word of mouth and personal connections. Running Perfect Balance Bookkeeping is her full-time job, but not the main priority. She said she loves the freedom it allows her to have to spend with her kids.

Key lessons from Teena’s 2023 GrowCon presentation:

Teena told the story of how she started a bookkeeping business at Universal Accounting’s annual conference for accounting business owners and professionals: GrowCon. The 2023 conference was held in Orem, Utah, and was the first time Teena spoke to attendees at the event.

The pivotal change that occurred in Teena’s life, she said, was when she reframed the way she sees challenges in her life. Her mindset previously had always seen the burdens and challenges in her life as “excuses.” Teena brought in a backpack full of rocks to represent the excuses she had made for not starting a bookkeeping business — feeling clueless, her poverty proud mindset, her “icky” feelings about making sales. She stopped calling those challenges excuses, and instead labeled them “realities.” Calling those challenges realities took all of the self-blame out of those excuses, and empowered her to show up with her realities.

She recommended treating the realities of our lives as tangible things.

“There are days that the best I can do is just show up, even if I bring along all the weight of my realities. I still show up. And that is enough,” she told the audience.

In working with Universal Accounting’s team of coaches, Teena found that she could start to pass off the weight of those rocks. Life coach Robyn Mons helped her achieve the work/life balance she desired. Marketing coach Clay Neves helped her shed the “icky” feeling she had about sales and helped her see the value of her bookkeeping services in the lives of her clients. Universal Accounting President Roger Knecht helped carry the burden of feeling “clueless” about how to run a business, helping her to “trust the process.”

“People don’t realize that sometimes they have everything they need to get started. They just need a little push,” Teena said in an interview.

Speaking at GrowCon was a bit intimidating, she admits, but was a very valuable experience. Teena said it was “validating” to rub shoulders with her fellow accounting business owners.

“GrowCon is so helpful because it gives you a moment to just step back and really think about what your business needs from you to succeed,” she said.

Now nearly three years into growing her bookkeeping business, she’s not looking back.

“It’s the best decision I’ve made and I’m excited to see what the future will bring,” she said.

Listen to her story:

Universal Accounting School’s Professional Bookkeeper program is a turn-key system designed to help accounting professionals just like Teena start a bookkeeping business. Our team of coaches and experts will help guide you through the process of growing your business, from teaching the fundamentals of accounting, to helping you master marketing and workflow. To learn more about how you can start a bookkeeping business just like Teena did, call 877-801-8080 or schedule a time to ask questions about the program when it’s convenient for you HERE.

Tickets to GrowCon 2024, the premier conference for accounting professionals and business owners, are on sale now! The event will be held May 6 and 7 at at Southbank Skies Hotel in Jacksonville, Florida.

5 Mistakes to Avoid When Selling an Accounting Business

So, you’ve done the hard part — you’ve started a successful accounting firm and scaled it to the point that you’re ready to sell. Now what?

Selling any business can be a complex endeavor, requiring careful preparation, strategic thinking, and a deep understanding of the market. It can be easy to get wrong and leave money on the table without the proper preparation. In a recent episode of the “Building the Premier Accounting Firm” podcast hosted by Universal Accounting Center President Roger Knecht, business exit expert Jessica Fialkovich shared invaluable insights on how to effectively navigate the process of selling an accounting business.

In this blog post, we’ll delve into the five most common mistakes Jessica has seen entrepreneurs make when selling their business. It’s unfortunate to see how often small business owners aren’t able to sell the business for the value they deserve, Jessica said. Avoid these mistakes to maximize the valuation of your business when you choose to sell.

Mistake #1: Not running the business like you’re going to sell it

You may find it surprising to hear, but around 95% of the clients Jessica works with don’t plan ahead when they sell their business. They simply wake up one morning and decide that they’re ready to sell. Burnout can be a big motivator to do so.

Obviously life circumstances can dictate a lot when it comes to the timing of selling a business, but that’s why business owners need to be intentional about operating the business with the mindset that it will be sold one day. Running the business like you’re going to sell it will not only make your business more successful, but it’ll allow you to easily get things in order to sell the business when you do decide it’s time to move on, Jessica said.

Mistake #2: Not having the right team around you

Business owners looking to sell need an experienced and driven team of professionals around them to ensure they get the proper value for their business, Jessica said. She recommended having a business broker, an accountant, a financial planner, and a lawyer.

Specifically, you should look for professionals who have experience working with businesses of the same size as yours. It might not be the best choice to hire the lawyer who works mostly with Fortune 500 companies for your $500,000 bakery, for example.

Mistake #3: Financial Cleanliness

This is the number one reason why businesses don’t sell, Jessica said on the podcast. You need to have all of your quarterly profit-and-loss statements, tax returns, balance sheets and other financial documents in order. Investors commonly look at tax returns in their valuation of the business, so it’s probably wisest to push for the highest profits you can and be ok with paying high taxes for a few years so you can prove the value of the business to investors.

Jessica said it’s all too common that a business owner will come to her looking to sell, but they’re more than a year behind on their profit-and-loss statements. That won’t be enticing to business owners.

Mistake #4: The business is reliant on YOU

When you’re starting your business, so much responsibility falls on your shoulders. A lot entrepreneurs take pride in their grind, but being overly involved as the CEO can actually be bad for business valuations. It shows the investor that if you step away, the workflow and culture of the company may completely crumble.

Roger and Jessica offer a number of great ways to test the impact you leaving the business would have on your employees in the full episode of the podcast.

Mistake #5: Not being flexible in your expectations

There are tons of different evaluation methods out there, but until you hit the market, you can’t really know what the business is worth or who’s going to buy it, Jessica said. So many business owners end up not selling at all and eventually close their doors instead of taking lower offers or financing options from buyers.

Business owners need to maintain a flexible mindset when they consider selling the business.

Listen to the full episode

Along with these five mistakes to avoid when selling an accounting business, Jessica and Roger also gave actionable tips for building an accounting business to sell just one year after starting it. There is so much more to explore in this fascinating episode. Listen to it in full here:

Starting a successful accounting business can be an overwhelming venture, but it’s one of the most rewarding career choices you could make. With Universal Accounting Center’s training programs and coaching, you can build a successful bookkeeping, tax, and/or advisory business in 90 days. Our team of industry veterans will help you understand the curriculum and navigate any roadblocks you encounter while working with clients. To take the first step on your path to starting a successful accounting business, call 877-801-8080 or set a time to discuss your future when it’s more convenient for you HERE.

Nailing First Impressions to Boost the Value of Your Accounting Business

Hey there! Ever thought about how important first impressions are for potential investors evaluating your accounting business?

We all know they play a significant role in how customers perceive your company and decide to spend their hard-earned cash. But guess what? Investors are equally influenced by those initial impressions when it comes to valuing your business.

Let’s take a real-life example from Jeremy Parker and his venture, Swag.com. Initially, investors saw Swag.com as a run-of-the-mill distributor of promotional products.

Despite Parker’s best efforts to position the company as more than just a middleman, the investors remained unconvinced. Consequently, they offered him a low single-digit multiple of EBITDA for a stake in his business, lumping Swag.com together with other promotional product companies.

But here’s where the magic happened. Parker knew he had to change the game. He re-strategized and presented Swag.com as an e-commerce platform with a catchy domain name and a top-notch direct-to-consumer buying experience.

This shift in perception transformed Swag.com from a simple distributor to a technology company in the eyes of investors. And guess what? It paid off! Parker received an acquisition offer that valued his $30 million company at a healthy multiple of revenue. Impressive, right?

When it comes to raising funds or selling your accounting business, optics matter a whole lot. The way investors categorize your business in their minds can make or break the deal. So, it’s essential to make that killer first impression!

The Alibaba Discount: How Diversification Can Impact Your Accounting Business’s Valuation

Speaking of getting categorized incorrectly, let’s talk about the recent news from Chinese Internet giant Alibaba. They announced their plans to split into six separate businesses, and guess what happened next? Alibaba’s market value soared by a whopping $19 billion in just two weeks. Now, that’s something to ponder, isn’t it?

Here’s the deal. Alibaba consists of various businesses, similar to those of Amazon.com, including e-commerce, logistics, and cloud storage. Before the split announcement, Alibaba was valued at only ten times their earnings forecast for next year. But here’s the twist—each individual business as a standalone is likely to fetch a much higher multiple in terms of valuation.

You see, investors often underestimate diversified businesses like Alibaba. They tend to focus on assets they’re specifically interested in and apply the lowest value multiple to the entire group of companies. This situation isn’t unique to Alibaba; Amazon faces similar challenges. Experts estimate that Amazon’s cloud storage division, AWS, could be worth a staggering $2–3 trillion as a standalone business. However, since Amazon offers a range of services, from e-commerce to audiobooks and cloud storage, its entire market capitalization is currently less than half that value. Crazy, right?

Finding the Right Balance: Revenue vs. Valuation Goals for Your Accounting Business

Let’s talk strategy for a moment. If you have investors supporting your accounting business, they will typically prefer that the business concentrate on dominating a single product or service rather than diving into unrelated offerings. Why? Well, diversification might make investors perceive your business as unfocused, which can lead to a lower valuation. And the same principle applies when it’s time to sell your company. If your accounting business appears scattered, potential acquirers may zoom in on your least valuable division and apply that valuation to your entire organization. Not ideal, right?

So, it’s crucial to set your priorities straight. Ask yourself this: Do you want to grow your accounting business by increasing revenue, or do you aim to enhance its overall value? While these goals are related, they require different strategies. If your primary focus is to boost revenue, diversification might be the way to go. But if you’re dreaming of a more valuable accounting business that you could potentially sell, maintaining a clear focus is absolutely crucial. Spend time considering that, so that when you do meet with investors you can give them an idea of what direction you’re envisioning the company going. In the accounting industry, this will probably come down to serving a specific niche versus serving a more general audience of clientele.

Remember, first impressions, smart categorization, and strategic goals can make all the difference in the accounting world. Keep them in mind as you’re meeting with your clients and investors.

Universal Accounting Center’s training and coaching programs will help you build confidence in your abilities as an accounting professional so you can nail that first impression. To learn more, give us a call at 877-801-8080 or schedule a time to discuss your future when it’s more convenient for you.

Now, go out there and wow those investors with your bookkeeping, accounting, and tax preparation expertise!

Highlights and Key Takeaways from GrowCon 2023

GrowCon is an annual conference where accounting professionals dedicate time to working ON their business. Organized by Universal Accounting Center, this conference provides unmatched expertise on starting, growing and sustaining a successful accounting firm.

This year’s conference was held at Mountain America Museum of Ancient Life in Lehi, Utah, on May 8 and 9.

Attendees listened to presentations from leaders across the industry, sharpened their skills with workshops, and networked with other professionals in their field.

In this article, we’ll look at some of the key concepts covered at this year’s conference.

Attracting Clients Using Google Business

Building an eye-catching marketing strategy is crucial for accounting business, but nothing is more important for attracting clients than being found on Google, said Christian Jones, CEO of TaxProMarketing.

“No matter what emails you write, what’s on your website or on your Facebook page, if people can find you, it doesn’t matter,” Jones said in his presentation.

Jones shared strategies for “dominating your local area” on Google without paying to launch your business to the top of search rankings through advertising.

To get the best position you can for your business without paying, there are three key areas to prioritize:

Backend search engine optimization elements. This is essentially using highly searched keywords in meta descriptions and SEO titles – really in anything you build on your site that people don’t see.
Upgrading and updating the content on your site. Uniqueness is really attractive to Google, Jones said, so making impactful, new content focused on keywords regularly is massive.
Optimize for engagement. Google measures how people click and engage with your site, Jones said, and the algorithm wants to promote sites that easily show people what to click on after they arrive.

Jones also emphasized the importance of updating your company’s Google Business page. There are a number of categories and other fields you need to fill out to get ranked on Google.

Becoming Your Clients’ Trusted Advisor

Small business owners don’t really have many people who they can talk with about the challenges their business is facing. Employees can’t empathize with their concerns. Bookkeepers only look at the business’ past, and bankers don’t understand business strategy.

So who can they turn to? With Adam Lean and Jeff Prager’s The CFO Project, it could be you.

“Business owners crave direction,” Prager said in his presentation. Bookkeepers often provide direction with data, but that’s not what business owners want. The best advisors are those who can tell business owners what they need to do in terms they can easily understand.

Prager and Lean developed The CFO Project to give accountants the proper tools they need to guide a business toward growth. All it takes is a desire to help businesses and a financial background.

Making Magic with Social Media

We all use social media for about two hours a day anyway, so why not use that time to elevate your business and attract high ticket clients? That’s what Alyssa J. Dillon, founder of Moneymaker Maven, pitched attendees at the conference.

She boiled the social media experience down to these three steps: 1. Do cool things to help cool people. 2. Talk about the cool things and the cool people you helped online. 3. Repeat.

Dillon uses the acronym M.A.G.I.C. (My Authenticity Gets Ideal Clients) as a mantra to rely on as she creates her posts. Clients are most likely to want to work with people they see themselves in, and there’s no better way to present your authenticity than using social media.

In Dillon’s experience, most accounting professionals set goals that are easily attainable. She challenged attendees to double their goals, because when you aim higher, even if you don’t reach your goal, you’ll be higher up than you ever anticipated.

Reframing Life’s Challenges to Start an Accounting Business

Teena Chandler had always been interested in numbers. She remembered telling her mom that she wanted to be a bookkeeper when she was 10-years-old, but as she got older, her life became too busy to pursue her childhood goal.

Her past was full of reasons why she shouldn’t try to become a bookkeeper, Chandler said. Raised in rural Utah, Chandler hated door-to-door salesmen and couldn’t imagine herself selling her services. She grew up with parents who had been through the Great Depression and preached against perceived risky financial decisions like starting a business.

Chandler let those challenges become excuses in her life, along with many more. She found herself feeling unfulfilled and without confidence as an adult. Still, she felt the pull of wanting to start her own accounting business, but only after she, “had all of her ducks in a row,” Chandler told the audience.

Chandler brought a backpack full of rocks to her presentation to represent these excuses she made. Everything changed for her in her life when she reframed how she saw those challenges from “excuses” to “realities.” She took responsibility for the obstacles she’d have to overcome, and decided to carry them with her on the way to her goal, like rocks in a backpack.

“There are days that the best I can do is just show up, even if I bring along all the weight of my realities. I still show up. And that is enough,” Chandler said.

After she discovered Universal Accounting Center, she started to pass off those burdens onto Universal’s team of expert coaches. She had no idea how to run a business, but had Universal Accounting President Roger Knecht at her side helping shoulder the burden. She felt “yucky” about sales, but Vice President of Enrollment Clay Neves helped her reframe how she thought of selling to help her focus on the ability she’d have to give clients what they desperately need.

Now, she runs a successful accounting firm. She said she was amazed at the help she received from UAC coaches.

Being vs. Doing. How to Scale Your Business Intentionally

What is the difference between being and doing? Michelle Quinonez, CEO of MR Books Advisory, said it’s a crucial question to consider for your business and for yourself.

Being, in this context, is not about the verb, but rather the noun – who you are, and what you desire. It’s about asking and answering the question “How?” Doing, on the other hand, is more about answering “Why?”

You should have inwardly focused goals for yourself and the business. Lifestyle and personal goals you want to achieve, like financial freedom, more free time, leaving a legacy or helping people, Quinonez said.

But it’s equally important to look outward and see the value in providing good outcomes for your employees, customers, community and the industry as a whole.

Quinonez shared valuable insights for making the most of your time as an accounting business owner. She recommended time blocking and setting your phone silent mode so you’ll only use it when you intentionally decide to.

Embracing Cloud Technology

Change is hard. But not changing will be harder, said Kellie Parks with Cloud Accounting Resources. Instead of fearing change, you have to embrace it to stay ahead.

Embracing change doesn’t just mean automating everything, Parks said. She recommends building out your processes and developing backup plans for them if they don’t work out. That should definitely involve some automation, but on your terms.

“Accountants who don’t change won’t be replaced by AI,” Parks said. “But they will be replaced by accountants who embrace AI.”

She encouraged attendees to adopt a “leap of faith” mentality and review their processes to look for ways they could be optimized using cloud based technology.

Takeaways from Other Amazing Speakers

Mike Milan shared his journey from state trooper to leading business advisor with his proven tools for increasing cash flow in businesses. Milan emphasized the importance of speaking in plain language when consulting your clients. Milan has also developed a number of tools for improving a business’ cash flow. Learn more on his website.

Randy Crabtree, Co-Founder & Partner at Tri-Merit Specialty Tax Professionals, shared ways to save money on taxes for clients through recently passed environmentally focused building code legislation.

Robyn Mons, a Life Coach who works with Universal Accounting Center to help professionals start their own businesses, talked about the importance of learning to recover after failure. Failure is only natural, she said. Everyone encounters it at some point in their life, but we still tend to allow failure to contaminate our self-perception. Growth, decay, and rebirth form the natural cycle of life in nature. She recommends avoiding indulging in perfectionism. Your business does not require that you execute perfectly.

Troy Ballard, owner of MTB Services Etc, LLC, shared her experience learning the Universal Accounting Center trainings and building a successful accounting firm with her experience. She emphasized the importance of building solid relationships with clients by communicating directly and regularly.

Alicia Katz Pollock, who runs QuickBooks Online training programs at Royalwise.com, shared a number of useful tips for using QBO.

Tanisha Waddell, Ceo of TLH Financial, LLC, told the audience about her life changing experience learning from Universal Accounting Center’s coaches. She’s built a booming accounting business over the last 10 years, and emphasized the importance of selling clients on the power of the problem being solved. They don’t care as much about your qualifications as much as your ability to help them in their time of need.

Liz Szporn, with Profit First Professionals, spoke on the power of not being a “normal” accountant by being able to offer advisory services. Good advisors future proof their clients business as much as they can be, Szporn said, and noted that profit margins for firms that added advisory services increased massively after the COVID-19 pandemic surfaced.

Positions are filling up quickly for GrowCon 2024 in Jacksonville, Florida. Sign up now for special pre-conference bonuses to get the expertise you need to take your accounting business to a new level.

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