Episode 245

FACULTY: Alex Drost, CPA

CLASS: #AccountingHigh

Join us in this insightful episode of Accounting High as we sit down with Alex Drost, a consultant with a background in investment banking and business consulting, and a licensed CPA. Alex shares his unconventional path into the accounting world, discusses the current trends in the accounting and private equity (PE) industries, and offers invaluable advice for both young professionals and established firm owners. Don't miss out on understanding the seismic shifts happening in the industry and how you can be a part of it.

📣 Shout Outs:

Matt Kidd, Randy Crabtree, Steve Hoffman, Brandon Hall, Connection Builders, Summit CPAs, Dark Horse CPAs, HD Growth Partners, Ascend, H&R Block, American Express, RSM, EY, Eisner Ampner, Cherry Becker, Fahrenheit Advisors, Smith Co, Smith Howard, Anders, PE Summit in Chicago, BDO, Notion

⬇️ Videos Referenced ⬇️

Getting Stuck at $1.2M and How I Got Out of the Way to Grow from Accountant to Entrepreneur Part 1

(https://youtu.be/PFEeE3hAkec)

Dismantling Pyramid Schemes with Selfish Motivations | Chase Birky, Tim Petrey, and Kenji Kuramoto

(https://youtu.be/cw51hauqtyA)

$10M Firm, Offering CAS, Implementing EOS, & backed by Private Equity! | Steven Hoffman, CEO

(https://youtu.be/TvlqZQfRchA)

Chapters:

00:00 Teaser

01:57 Alex Drost's Journey to Becoming a CPA

05:02 Connection Builders and Business Development

06:55 Private Equity in Accounting

11:01 Impact of Private Equity on Middle Market Firms

24:45 Profit Distribution Challenges

25:23 Private Equity and Investment Decisions

26:53 Building Enterprise Value

29:08 Retirement and Succession Planning

33:13 Technological Advancements in Accounting

42:14 Millennials vs Gen Z

🔗 Connect With Us On Linkedin! 🔗

Alex Drost, CPA

📎 https://www.linkedin.com/in/adrost/

Connection Builders

📎 https://www.linkedin.com/company/connectionbuilders/

📎 https://www.connection.builders/

Scotty OKR Scarano

📎 https://www.linkedin.com/in/scottscarano/

Accounting High

📎 https://www.linkedin.com/company/accounting-high/

📎 https://www.accountinghigh.com/

Tags: Accounting High, Accounting, Podcast, Coaching, Accounting Tips, How To Run An Accounting Practice, Accounting Industry, Accounting Practice, Private Equity, Firm Structure, Future of Accounting