Who's Really the BOSS?

Modernizing a 50-Year Legacy Practice


Listen Later

Tim Abbott shares his journey from merging his small practice into MJ Vanden Brook in 2012 to becoming the third-generation owner of the 50-year-old firm. He discusses two major acquisitions, including modernizing operations from clipboards to cloud technology, and reveals why keeping previous owners around for 2-3 years led to high client retention rates.

Introducing Collective by DBA
https://collective.cpa
https://www.linkedin.com/company/collectivebydba

Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors

Sign up to get free CPE for listening to this podcast
https://earmarkcpe.com

Download the Earmark CPE App
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728

Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

  • (00:00) - Introduction and Welcoming Tim Abbott
  • (01:08) - Tim Abbott's Background and Firm Overview
  • (02:50) - Team Structure and Work Environment
  • (04:12) - Personal Life and Family
  • (05:22) - Best Advice Received
  • (06:48) - Journey to Business Ownership
  • (08:13) - First Acquisition and Modernization Efforts
  • (11:34) - Second Acquisition and Transition Challenges
  • (18:49) - Client Transition and Relationship Management
  • (20:49) - Lessons from Recent Acquisitions
  • (22:15) - Challenges with Referral Sources
  • (24:31) - Surprises Post-Acquisition
  • (28:55) - Evaluating Buy vs. Build
  • (33:51) - Current Goals and Initiatives
  • (41:48) - Importance of Peer Relationships
  • (45:53) - Looking Ahead: Future Plans
  • (48:05) - Conclusion and Contact Information
  • ...more
    View all episodesView all episodes
    Download on the App Store

    Who's Really the BOSS?By Marcus Dillon, Rachel Dillon

    • 4.6
    • 4.6
    • 4.6
    • 4.6
    • 4.6

    4.6

    11 ratings


    More shows like Who's Really the BOSS?

    View all
    BiggerPockets Real Estate Podcast by BiggerPockets

    BiggerPockets Real Estate Podcast

    16,767 Listeners

    Money Guy Show by Brian Preston and Bo Hanson

    Money Guy Show

    3,219 Listeners

    Accountant's Flight Plan by Brannon Poe; Poe Group Advisors

    Accountant's Flight Plan

    9 Listeners

    The Accounting Podcast by Blake Oliver & David Leary

    The Accounting Podcast

    337 Listeners

    Business Strategy for CPA's by Geraldine Carter

    Business Strategy for CPA's

    46 Listeners

    Future Firm Accounting Podcast by Ryan Lazanis

    Future Firm Accounting Podcast

    27 Listeners

    The Unique CPA by Randy Crabtree, CPA

    The Unique CPA

    25 Listeners

    followHIM by Hank Smith & John Bytheway

    followHIM

    10,690 Listeners

    Tax Section Odyssey by AICPA & CIMA

    Tax Section Odyssey

    13 Listeners

    The Ambitious Bookkeeper Podcast by Serena Shoup, CPA

    The Ambitious Bookkeeper Podcast

    62 Listeners

    Oh My Fraud by Caleb Newquist

    Oh My Fraud

    140 Listeners

    BigDeal by Codie Sanchez

    BigDeal

    899 Listeners

    Jason On Firms Podcast by Jason Staats

    Jason On Firms Podcast

    59 Listeners

    Federal Tax Updates by Roger Harris, EA and Annie Schwab, CPA

    Federal Tax Updates

    33 Listeners

    She Counts by Questian Telka, EA & Nancy McClelland, CPA

    She Counts

    15 Listeners