In this episode, Tom Hine shares some typical deal structures or multiples that accounting firms are paying to acquire other accounting firms. He also shares what percentage of accounting firms are doing investment planning and wealth management.

Tom Hine: The Art of Business Acquisitions

A show dedicated to accountants and bookkeepers who are looking
to grow their practice. We deep dive into both the theory and the exact steps you need
to grow your practice in the way you always dreamed. You will learn marketing, sales,
hiring, management, pricing... everything it takes to scale a practice. The one thing we
don’t talk about are accounting skills. You already have those. What we do is give you
business skills.

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Show Summary                                                                                     In today's episode of the Grow My Accounting Practice Podcast, Tim Thompson delves into common misconceptions about taxes within Profit First Circles. He addresses the skepticism often heard from prospects, such as disbelief in their reported income or reluctance to accept their tax obligations. Tim offers insights on navigating these challenges and emphasizes the importance of professional support in implementing Profit First strategies, especially when accountants are resistant to the approach. Tim also tackles the perception of accounting services as commodities and explores strategies to differentiate and add value. He provides valuable perspectives on proving the naysayers wrong and establishing a unique position in the market. Additionally, Tim shares his "Nasty" approach to business and its effectiveness in driving growth and profitability. Looking ahead, Tim discusses the future direction of his business, highlighting upcoming initiatives and areas of focus. He offers glimpses into his vision for expansion and development, showcasing his commitment to continuous improvement and innovation in serving clients. Tune in to gain valuable insights from Tim's experiences and expertise in navigating the complexities of the accounting industry.           Website: www.timthompsoncpa.com Facebook: https://www.facebook.com/mydfwcpa Twitter: https://www.twitter.com/mdfwcpa Youtube: https://www.youtube.com/@mydfwcpa                   Corporate Partner:  Impact Global Solutions - https://www.linkedin.com/in/laurencewhittam/                                                                                             

Tim Thompson: Tax Transformation: Turning Junk into Treasure

Show Summary                                                                                     In today's episode of the Grow My Accounting Practice Podcast, we welcome Lori Hardtke, the owner and president of ByteWize, Inc. Lori shares her journey of building a successful MSP business while staying true to her vision and values. She reveals that her motivation stemmed from a clear understanding of what she didn't want in her business: she didn't want to have employees, drive all over town servicing clients, or chase down clients for payments. This awareness of her non-negotiables allowed her to focus on what truly mattered to her. By prioritizing her lifestyle, personal, and business goals, Lori was able to build a thriving business that aligned with her desires. She emphasizes the importance of knowing what you don't want as a guiding principle in business development. For Lori, this clarity served as a compass, directing her towards the right opportunities and decisions that supported her vision. Through Lori's story, listeners gain valuable insights into how defining what you don't want can lead to a more focused and purposeful approach to business growth. Her journey serves as an inspiring example of how staying true to oneself and one's values can pave the way for success and fulfillment in entrepreneurship.             Website: https://www.profitfirst4msps.com LinkedIn: https://www.linkedin.com/in/lorihardtke/                   Corporate Partner:  Clockwork AI - www.clockwork.ai                                                                                             

Lori Hardtke: Knowing What You Don't Want

Show Summary                                                                                     In today's episode of the Grow My Accounting Practice podcast, we had the pleasure of hosting Harley Liechty, the CEO and Founder of Get Better Bookkeeping. Harley shared valuable insights into the journey of his firm's growth and the key factors that have contributed to its success. He discussed the challenges faced during the initial stages of growth, highlighting the importance of overcoming obstacles and learning from mistakes to drive progress. Harley also elaborated on the strategies and approaches adopted by Get Better Bookkeeping that have propelled its rapid growth, positioning it as one of the fastest-growing firms in the industry. He emphasized the unique value propositions and distinctions that set Get Better Bookkeeping apart from competitors, underscoring the significance of providing exceptional service and value to clients. Additionally, Harley delved into the importance of clearly defining and communicating the value proposition of the firm, emphasizing the impact it has on attracting and retaining clients. Looking ahead, Harley provided insights into the future direction of Get Better Bookkeeping, outlining ambitious plans and goals for the company's growth and expansion in 2024. His expertise and experiences offered invaluable lessons for accounting professionals seeking to navigate challenges, differentiate their firms, and drive sustainable growth in the competitive landscape of the industry.             Website: www.GetBetterBookkeeping.com                   Corporate Partner:  Jetpack Workflow - https://jetpackworkflow.com/                                                                                             

Harley Liechty: Distinguishing Yourself in the Business

Show Summary                                                                                     In today's episode of the Grow My Accounting Practice Podcast, we're thrilled to welcome Kathy Dise, the founder of BudgetEase, to share her insights on financial management strategies. Kathy emphasizes the critical importance of conducting monthly meetings with clients to ensure ongoing success. These regular check-ins provide an opportunity to review financial performance, address any concerns, and set goals for the future. By fostering open communication and collaboration, Kathy believes businesses can achieve greater clarity and control over their finances. Cash sustainability emerges as a central theme in Kathy's discussion, highlighting what it truly takes to maintain a healthy cash flow. With BudgetEase's expertise, businesses can develop effective budgeting strategies tailored to their unique needs and goals. Kathy emphasizes the significance of proactive cash management to mitigate risks and seize opportunities for growth. Through BudgetEase's comprehensive approach, businesses can achieve greater financial stability and resilience in today's dynamic market. Moreover, Kathy delves into the importance of efficient accounts receivable management, revealing how BudgetEase has streamlined processes to shorten payment cycles dramatically. By reducing days to pay to just seven, businesses can improve cash flow and liquidity, facilitating smoother operations and sustained growth. Additionally, Kathy touches on the significance of project management, sharing how BudgetEase has optimized workflows to enhance service delivery. By focusing on efficiency and quality, BudgetEase ensures clients receive superior support and value, setting them apart in the competitive landscape.           Youtube: https://www.youtube.com/@BudgetEase/videos LinkedIn: https://www.linkedin.com/company/budgetease/                   Corporate Partner:  Your Cyber Team - https://www.techiegurus.com/                                                                                             

Kathy Dise: Budgeting Strategies

Show Summary                                                                                     In today's episode of the Grow My Accounting Practice podcast, we have a special treat for our listeners. The hosts themselves, Mike Michalowicz, author of the renowned book Profit First and Co-Founder of Profit First Professionals, and Ron Saharyan, Managing Director and Co-Founder of Profit First Professionals, alongside our wonderful PFP Guide, Liz Szporn, will be leading the discussion. Join us as we celebrate Profit First's 10th anniversary this year and reflect on its remarkable journey over the past decade. During this episode, the hosts will provide exclusive insights into the inner workings of Profit First Professionals, offering listeners a unique glimpse into the world of Profit First. From insightful anecdotes to valuable lessons learned, this episode promises to be an engaging exploration of Profit First's evolution. Furthermore, the hosts will take us on a nostalgic journey back to the beginnings of Profit First Professionals. From humble origins to remarkable achievements, this episode offers a captivating narrative of growth and transformation. Join us as we commemorate a decade of Profit First and its profound impact on businesses worldwide.                                                                                                                                                                                                                                                       Website:https://profitfirstprofessionals.com/  Facebook:https://www.facebook.com/ProfitFirstProfessionals/ LinkedIn:https://www.linkedin.com/company/profit-first-professionals/ Instagram:@proud_to_be_profitable Twitter:@profitfirstpros TikTok:https://www.tiktok.com/@profitfirstpros                   Corporate Partner:  Your Cyber Team - https://www.techiegurus.com/                               

Tom Hine: The Art of Business Acquisitions

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