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About The Guest: Ivan Arroyo

Ivan is a seasoned tax professional and the owner of a CPA practice in the Wenatchee Valley, Central Washington. With a focus on personalized client service, Ivan has significantly transformed his firm by adopting a subscription model, allowing for predictability and efficiency in business operations. Bilingual and deeply integrated into his community, Ivan specializes in serving the Hispanic business community, and he has built a reputable practice known for its strategic tax planning and consulting services.

Episode Summary:

In this episode of the Mr. R Show, the focus is on transformative strategies for modernizing tax practices through the successful adoption of a subscription model. Hosts Chris and John invite Ivan Arroyo, a seasoned CPA with a deeply personal approach to client relationships, to share his firsthand experience transitioning his firm to a subscription-based model. Recorded with rich insights and humor, the conversation delves into the initial fears, strategic shifts, and rewarding outcomes of this business model overhaul. Ivan emphasizes the critical thinking and calculated risks involved in such a transformation, presenting an honest portrayal of the journey from a traditional framework to a more advantageous subscription model.

Ivan details how he managed this significant changeover within his practice, which involved strategic client selection, service diversification, and the immense value of proactive client communication. Central to this transformation was the development of business friendships based on mutual care and understanding, with Ivan placing a personal investment in his clients' success. By leveraging his unique position as a bilingual professional, Ivan expanded his client base, cultivating a rich network of referral-based businesses that supported his firm's growth. The episode is a must-listen for tax professionals seeking to modernize and scale their practices through innovative methodologies and effective client relationships.

Key Takeaways:

• Client-Centric Approach: Ivan prioritizes building business friendships over mere transactional relationships, resulting in high client retention and satisfaction.
• Strategic Transition to Subscription Model: The transition was implemented with careful planning and was initially tested with a select group of trusted clients to ensure seamless execution.
• Value of Being Bilingual: Ivan’s bilingual skills significantly contributed to his success by allowing him to build deeper connections with his predominantly Hispanic clientele.
• Enhanced Service Offering: The shift to a subscription model encouraged the recognition and billing of additional services that were previously overlooked.
• Adoption of Non-Traditional Benefits: Ivan emphasizes a balanced work-life culture within his firm, including flexible working conditions and appreciation for personal time, fostering a dedicated and satisfied team.

Notable Quotes:

1. "I never even thought about going on my own. It just sort of happened."
2. "It's not easy, but it's not easy sticking with what you've got."
3. "Having that connection with clients is being about building business friendships truly matters."
4. "People don't want to do that because they're thinking, well, the clients are not gonna be happy, but it's the opposite."
5. "The value of your knowledge isn't just the value of your time."

Resources:

• MRR Institute: Website

Encouraging listeners to engage with this insightful episode, "The Mr. R Show" offers an invaluable perspective on evolving the tax practice landscape. Tune in for more episodes filled with expert advice and strategic insights for scaling and modernizing your practice.

• (00:00) - Transitioning Tax Practices to a Subscription Model