Doyin Ogunbajo is the founder of ASO Financial, a firm dedicated to providing strategic accounting, tax, and financial advisory services to businesses. With over 13 years of experience, he has worked with major clients, including the U.S. Department of Defense, FCC, and Department of Homeland Security. Before launching ASO Financial, Doyin worked at EY, where he specialized in financial reporting and tax solutions, and Deloitte, where he served as an ERS Consultant supporting risk assessment and internal controls for government clients. Today, he leverages his deep expertise to help businesses thrive and navigate financial complexities. In our conversation, we delve into:

• Transitioning from Big Four firms to entrepreneurship

• The value of financial advisory services in small businesses

• How government and nonprofit experience shaped his approach

• The role of technology in modern accounting firms

• Business development strategies for firm owners

• The impact of community and networking in accounting

• The future of accounting and the profession’s talent shortage

Some Takeaways:

1. Accounting as a Universal Skill: Despite differences in regulations and business environments, accounting principles remain the same across industries and regions. Mastering financial fundamentals and adapting them to different contexts is essential for long-term success.

2. Entrepreneurship Requires Adaptability: Transitioning from a structured corporate environment to running an independent firm presents unique challenges. Building a business requires balancing client acquisition, branding, and operational efficiency while staying resilient through uncertainties.

3. Community and Networking Are Key to Growth: Success in accounting isn’t just about expertise—it’s about relationships. Engaging with other professionals, sharing insights, and collaborating within a strong network can lead to new opportunities and business growth.

4. Technology is Reshaping Accounting: Embracing automation, AI-driven insights, and digital tools can help accountants streamline workflows, improve efficiency, and enhance client communication. Staying ahead of technological advancements is crucial for firm owners.

5. Client Communication Must Be Strategic: Effective communication saves time and builds stronger relationships. Setting clear expectations, using automation where possible, and leveraging tools like video messaging can simplify complex financial concepts and improve client interactions.

6. Fixed Pricing Models Build Trust: Shifting from hourly billing to fixed pricing improves transparency, strengthens client relationships, and provides more predictable revenue streams. Businesses benefit from knowing costs upfront, and firms gain stability in long-term partnerships.

7. The Future of Accounting is Advisory-Driven: With automation handling transactional tasks, accountants will need to focus more on advisory roles. Businesses increasingly rely on accountants for strategic financial guidance, making this an essential shift for the industry.

Where to Find Doyin Ogunbajo:

• Website: asofinancial.com

• LinkedIn: https://www.linkedin.com/in/doyinthecpa/

In this episode, we cover:

• 01:27 Introduction and Background

• 04:13 Passion for Accounting

• 06:37 Cultural Perspectives on Accounting

• 09:22 Transitioning to Entrepreneurship

• 11:55 Client Preferences and Impact

• 14:23 Business Development Strategies

• 16:56 The Role of Community in Business

• 22:07 Leveraging Technology for Efficiency

• 37:52 The Role of AI in Modern Accounting

• 46:48 The Future of Accounting Professionals

• 49:30 The Fast Five Questions

References:

• EY: https://www.ey.com