In this episode of the Growing Your Firm podcast, host David Cristello welcomes Todd Steinberg, founder and managing partner of Thrive Financial Group.

David and Todd dive into the evolving landscape of accounting firm mergers and acquisitions (M&A), particularly the increasing role of private equity (PE) firms as buyers. They discuss key acquisition drivers such as human capital, geographic expansion, and cross-selling opportunities.

Todd also breaks down deal structures, explaining the rise of rollover equity and earnouts, and how these vary by buyer type. Additionally, he shares insights into current valuation multiples, emphasizing the factors that impact firm valuations, including profitability and client retention.

This episode is packed with actionable takeaways – whether you're an accounting firm owner considering growth through acquisition or preparing for a sale.

Tune in to gain Thrive Financial Group’s expert perspective on the latest M&A trends and learn how to position your firm for success. Resources

In this episode of Growing Your Firm, host David Cristello welcomes Alyssa J. Dillon, a fellow entrepreneur who shares her inspiring journey of starting her own business. 

The conversation kicks off with Alyssa recounting the pivotal moment when she decided to quit her job and explore the possibility of working for herself after receiving a side accounting request. 

As they dive deeper, Alyssa and David discuss the essential elements of building a successful firm, including the importance of marketing and sales processes. 

Listeners can expect insights into quickly gaining traction, making strategic pivots, and offering advisory services, all while sharing in the excitement of the entrepreneurial roller coaster. Tune in for an engaging and informative ride!

In this episode of Growing Your Firm, host David Cristello welcomes Kelly Mann, co-founder and CEO of AuditMiner. Kelly shares her journey of launching her own CPA firm, a decision that surprised her given her background in audit and the male-dominated landscape of firm ownership. 

She discusses the challenges of changing firm culture and her desire to build a business that aligns with her authentic self. The conversation delves into her experiences in the accounting profession, the shift to entrepreneurship, and her focus on 401k solutions. 

Tune in to explore Kelly's insights on starting a firm, selling a firm, and the development of innovative software in the accounting space.

In this episode of The Growing Firm Podcast, host David Cristello welcomes Marcus Dillon, president of Dillon Business Advisors. The conversation delves into Marcus's journey of acquiring a book of business valued at $400k and the evolution of his firm over the past 13 years. 

Marcus shares valuable insights on client acquisition, pricing strategies, and the importance of maintaining consistency during the first year of acquiring new practices. The episode also explores the challenges and hard decisions he faced, including experimenting with service offerings like bookkeeping and payroll. 

Listeners will gain a deeper understanding of capacity planning and the hard-won lessons learned from the front lines of running a modern firm. Tune in for an engaging discussion filled with practical advice for firm growth and client management.

In this episode of Growing Your Firm, host David Cristello welcomes back returning guest Loren Fogelman, a sports psychologist turned business coach specializing in helping accounting professionals. 

Loren shares her insights on a crucial yet often overlooked topic: raising fees for existing clients. She emphasizes the importance of understanding client hesitations, particularly when they respond with, "I'll think about it," suggesting that this often indicates unasked questions or a lack of perceived value. 

David and Loren explore strategies to approach these conversations with curiosity and confidence, aiming to help listeners maximize their income while working smarter, not harder. Tune in to learn practical tips for implementing fee increases with your current client base.

In this episode of Growing Your Firm, host David Cristello speaks with Michael Meihaus, the owner of Meihaus CPA, who transitioned from a decade in public accounting to launching his own firm focused exclusively on retirement plan audits. 

Michael shares his journey of self-discovery, including a pivotal conversation that prompted him to leave his job and pursue his passion. 

The discussion touches on the importance of designing a firm that aligns with one’s lifestyle and the concept of "choosing easy mode" in the accounting profession. 

Listeners will gain insights into creating a unique firm identity, as Michael's website stands out from the conventional offerings typically found in the industry.

Tune in to explore the magic of retirement plan audits and the entrepreneurial spirit behind building a firm that reflects personal values and aspirations.

In this episode of the Growing Your Firm podcast, host David Cristello welcomes Jesse and Tom from FinOptimal, a company that uniquely combines accounting services with innovative QuickBooks applications designed specifically for accountants. 

The conversation delves into their dual business model, exploring how they balance service and product development in the competitive accounting landscape. Jesse and Tom share insights into their journey in building accounting software, the challenges they face, and their vision for the future of their company. 

Tune in to discover how FinOptimal is reshaping the accounting industry and learn valuable lessons on managing a multifaceted business.

In this episode of the Grow Your Firm Podcast, host David Cristello welcomes Shannon Weinstein, the CFO for small businesses transitioning from seven to eight figures and President of Keep What You Earn. 

Shannon shares her unique approach to hiring, emphasizing the importance of crafting compelling job descriptions that sell the company to prospective candidates. With over 120 applicants for her last two job openings, she highlights the need to view recruitment from a sales perspective. 

Throughout the conversation, Shannon discusses her firm’s philosophy on time tracking, stating they do not track time and explaining how this principle has shaped their operations. 

Additionally, she reveals her efficient work schedule, averaging 25 to 35 hours per week, and offers insights into building a successful CFO practice. Tune in for valuable tips on hiring, firm management, and achieving work-life balance.

In this episode of Growing Your Firm, host David Cristello welcomes Wendy Barlin, a consultant specializing in helping professional service firms transition from frustration to freedom. Wendy shares insights from her decade-long experience in building her own remote firm, which she sold in 2021. 

The conversation delves into the importance of operations, systems, processes, and a fresh perspective on profit within accounting firms. Wendy emphasizes the significance of establishing firm boundaries to maintain control over one’s business and highlights the need for firms to adapt to these changes for long-term success. 

Tune in to discover actionable strategies that can help firms reclaim their freedom while enhancing their operational efficiency.

In this episode of Growing Your Firm, host David Cristello welcomes Rory Henry, a certified financial planner and behavioral financial advisor. 

Rory, who is also the director Arrowroot Family Office, co-founder of AFO Wealth Management Forward, and author of the upcoming book, "Holistic Guide to Wealth Management," discusses the evolving landscape of wealth management and its critical intersection with accounting and tax professionals. 

The conversation explores the integration of technology in financial planning, highlighting how software is making holistic financial strategies more accessible. 

Rory shares insights on the importance of collaboration among financial and accounting professionals and delves into the psychology of financial behavior. Tune in for valuable wisdom that can help accounting professionals enhance their services and better serve their clients.