Who's Really the BOSS?

By Marcus Dillon, Rachel DillonBusiness

Who's Really the BOSS? episodes

March 17, 2025Selling Your Accounting Firm: Misconceptions, Valuations, and Market Realities
Doug Lewis of The Visionary Group shares insider knowledge on the current accounting firm M&A landscape, revealing how valuation truly works and what buyers prioritize. He debunks common misconceptions about firm valuations and discusses why talent development, fee structure optimization, and understanding your top clients' goals are critical for maximizing your firm's value. The episode delivers practical advice for firm owners considering succession options and emphasizes that every accounting firm eventually transacts in one of three ways: external sale, internal succession, or closing the doors.
Connect with Doug Lewis
https://www.linkedin.com/in/dlewis715
https://thinkvisionary.com/team/doug-lewis/
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
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Download the Earmark CPE App
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(00:00) - Welcome to Who's Really the Boss
(01:48) - Doug Lewis: Professional Background
(04:08) - Doug Lewis: Personal Life
(05:25) - The M&A Landscape in Accounting
(08:57) - The Best Advice You Ever Recieved
(12:23) - The Evolution of Visionary Group
(16:13) - Current Trends in M&A
(23:21) - Valuation and Growth Strategies
(26:36) - What Buyers Are Looking For
(34:36) - Identifying Current Buyers in the Market
(36:46) - Types of Business Transactions: Acquisition, Merger, and Hybrid
(39:48) - Increasing Firm Value: Key Strategies
(47:46) - The Importance of Client Relationships
(53:50) - Biggest Misconceptions on Seller Side
(56:24) - Future of M&A in the Accounting Profession
(01:00:11) - Final Thoughts and Recommendations
1 hr 3 min
March 03, 2025Growing Through Strategic Acquisition
Rachel and Marcus pull back the curtain on their recent acquisition of a CPA firm in St. Louis, sharing intimate details about their decision-making process and due diligence approach. They discusses everything from their old-school strategy of sending physical letters to potential sellers, to the critical importance of cultural alignment and preserving DBA's remote-first culture. Through personal anecdotes and practical insights, they reveal how prayer, professional counsel, and careful planning guided them through evaluating and ultimately closing a deal that will grow their firm by 20%.
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) - Welcome to Who's Really the Boss
(02:10) - Family Updates: College and High School
(05:46) - Acquisition Process and Strategy
(16:23) - Due Diligence and Integration
(26:28) - Key Team Members and Their Roles
(27:48) - Challenges and Considerations in Client Relationships
(29:51) - Cultural Alignment and Remote Work
(36:12) - Technology Integration and Changes
(41:23) - Client Retention and Transition Strategies
(49:57) - Discernment and Decision-Making Process
(54:51) - Final Thoughts and Moving Forward
57 min
February 17, 2025Finding & Keeping Great Accounting Talent
Recruiting expert John Randolph pulls back the curtain on what it really takes to find and hire great accounting talent in today's market. Through candid discussion of compensation ranges, recruitment timelines, and workplace flexibility, John shares practical insights on why traditional hiring methods often fall short and what firms can do differently. This episode offers both tactical hiring advice and strategic perspectives on building a workplace culture that helps retain top talent, making it valuable for firm owners struggling with recruitment or looking to protect their team from competitor poaching.
(00:00) - This is Who's Really the Boss
(00:49) - John Randolph's Background and Business
(03:54) - Best Advice Ever Given
(06:03) - How We Met John Randolph
(08:16) - Challenges in Hiring and Recruitment
(16:01) - Engaging and Retaining Talent
(23:52) - What Candidates Look For
(28:40) - Discussing Compensation Ranges for Different Roles
(29:31) - Factors Influencing Compensation
(30:50) - Compensation for Tax Managers and Advisors
(32:35) - Geographical Impact on Compensation
(34:12) - Remote, Hybrid, and In-Office Work Preferences
(37:22) - Effective Interview and Hiring Strategies
(45:21) - Protecting Your Team from Recruiters
(50:12) - When to Use a Recruiter and How to Choose One
(56:56) - Conclusion and Final Thoughts

Connect with John
https://www.linkedin.com/in/johnrandolph
https://benaiahcg.com/
Listen to the CPA Life Podcast
https://podcasts.apple.com/us/podcast/cpa-life/id1669117954

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
1 hr
February 03, 2025Three Principles That Transformed Our Firm
Rachel and Marcus dive into how the principles from James Clear's Atomic Habits shaped both their personal lives and their accounting firm's transformation from 2016 onwards. They share three key principles they continue to use: making changes obvious and easy, designing supportive environments, and aligning habits with identity and values. Through candid examples - from their firm's transition to remote work to implementing transparent leadership practices - they demonstrate how small, consistent changes can lead to significant business and personal transformation.
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) - Welcome to Who's Really the Boss
(01:07) - Challenges of Maintaining New Year Resolutions
(02:14) - Gym Experiences and Accountability
(05:16) - The Impact of Atomic Habits
(08:26) - Implementing Atomic Habits in Business
(11:40) - Stronger U
(14:48) - Staying Consistent
(22:50) - Remote Work and Environment Design
(32:13) - Identity-Based Habits and Values
(43:30) - Conclusion and Final Thoughts
46 min
January 20, 2025Beyond Resolutions: Setting Achievable Goals in 2025
Rachel and Marcus dive into their approach to goal-setting for 2025, sharing both their firm's strategic objectives and personal development targets. They explore how breaking down larger goals into measurable chunks and establishing multiple layers of accountability helps ensure follow-through, even during challenging periods like tax season.
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) - Welcome to Who's Really the Boss
(03:46) - Upcoming Events and Announcements
(06:03) - New Year's Resolutions and Goals
(13:59) - Firm Goals and Strategies for 2025
(28:35) - Technology Assessment and New Hire
(31:42) - Setting and Reassessing Goals
(35:42) - Team Development and Training
(39:02) - Personal and Professional Accountability
(49:11) - Measurable Personal Goals for 2025
(53:59) - The Importance of Accountability
57 min
January 06, 2025Decisions We're Making in Our $3 million Accounting Firm
Rachel and Marcus outline the key strategic decisions they're making at their $3M accounting firm as they plan for continued growth in 2025, including streamlining their technology stack, restructuring team capacity, and preparing for potential acquisitions. They discuss how they're managing recent team transitions and implementing new roles like subject matter experts to create advancement opportunities. The conversation provides a transparent look at how they're positioning their established firm for its next phase of growth while maintaining their culture and service quality.
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) - Welcome to Who's Really the Boss
(00:34) - New Year: Family Updates
(02:33) - Business Decisions for 2025
(03:17) - Firm Structure and Client Services
(08:07) - Technology and Tools Evaluation
(21:17) - Team Structure and Capacity Planning
(24:41) - Departing Team Members
(31:07) - Organic Growth Strategies
(39:37) - Acquisition Strategies and Lesson's Learned
(44:21) - Conclusion and Community Support
48 min
December 16, 2024The Evolution of Accounting Firm Deals
Attorney Sara Sharp shares her unique perspective on the evolving landscape of accounting firm ownership, compliance challenges, and acquisition trends. Drawing from her experience handling numerous accounting practice deals, she discusses creative alternatives to traditional partnership models, including phantom equity plans that align team member incentives without the complexities of direct ownership. The conversation explores common compliance pitfalls for modern firms with remote workers, the surge in accounting practice acquisitions by non-traditional buyers, and how younger firm owners are reshaping industry norms around work-life balance and profitability.
Connect with Sara:
https://www.skandslegal.com/sara-sharp
https://www.linkedin.com/in/sara-sharp-9a2a98b
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) - Welcome to Who's Really the Boss
(00:42) - Sara Sharp's Background and Expertise
(04:21) - Best Advice Ever Received
(07:36) - Client Attorney Privilege and Compliance
(14:03) - Employee Handbook and PTO Policy
(19:12) - Ownership Alternatives and Phantom Equity
(23:45) - Valuation Challenges and Internal Loans
(24:52) - Incentivizing Key Team Members
(26:59) - Ownership and Leadership Dynamics
(29:27) - Current Deals and Busy Season
(31:17) - Trends in Business Acquisitions
(37:46) - Future of the Accounting Industry
(40:29) - Balancing Profit and Quality of Life
(45:46) - Final Thoughts and Wrap-Up
47 min
December 02, 2024The Truth About 'Turning On' Marketing for Your Firm
Rachel and Marcus dive deep into their marketing experiments at DBA, including a candid discussion of spending $500,000 on initiatives that didn't quite work out as planned. They share valuable insights about the importance of clearly defining your ideal client and services before investing in any marketing efforts, whether internal or outsourced. The conversation explores their successful strategy of client block exits and how they've ultimately found better growth through nurturing existing client relationships rather than aggressive marketing campaigns.
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) - Welcome to Who's Really the Boss
(04:30) - Personal Update and Marketing Challenges
(09:10) - Marketing Strategies and Client Management
(13:14) - Determining Ideal Clients
(21:15) - Grading Clients and Exit Strategies
(28:24) - Evaluating Service Lines
(31:30) - Outsourced Marketing vs Internal Teams
(43:06) - Experiments with Lead Generation
(49:25) - Refocusing Growth Strategies
(53:04) - Creative Marketing Approaches
(54:35) - Conclusion and Future Plans
56 min
November 18, 2024Building Resilient Teams: Planning for Extended Leave
Rachel and Marcus are joined by DBA team member Lezlie Reeves to share how their firm successfully managed concurrent extended leaves. They share their detailed approach to documentation, training support staff, and maintaining client service standards during extended leave periods. Their experience demonstrates how small firms can create sustainable coverage plans while ensuring team members fully disconnect during parental leave, ultimately leading to improved processes and team growth.
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) - Welcome to Who's Really the BOSS?
(03:23) - Maternity Leave Experiences
(07:21) - Team Structure and Documentation
(12:09) - Training and Preparation for Leave
(17:33) - Implementation and Support During Leave
(25:12) - April's Client Management Training
(28:17) - Roles and Responsibilities Breakdown
(32:17) - Client Communication Strategies
(33:57) - Concerns and Apprehensions
(36:47) - Successful Outcomes and Benefits
(45:44) - Areas for Improvement
(50:38) - Final Thoughts and Acknowledgements
52 min
November 04, 2024Converting Annual Clients to Monthly Relationships
Rachel and Marcus dive into how their accounting firm successfully converted two major clients into comprehensive monthly service relationships - one transitioning from annual tax services and another expanding their existing monthly engagement. They break down how establishing trust and proving value over time led these clients to naturally seek out additional services, rather than requiring hard selling tactics. The episode reveals practical insights about client communication, pricing strategies, and the shift from being viewed as a transactional service provider to becoming an integral part of clients' business operations.
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) - Welcome to Who's Really the BOSS
(00:35) - Family Updates
(05:36) - What Our Episode is About Today
(06:16) - Converting Clients to Monthly Services
(10:27) - Client Case Study: From Annual to Monthly Services
(15:49) - Building Trust and Long-Term Relationships
(22:26) - Client Service Manager Role Clarification
(22:56) - Defining Service Expectations
(27:47) - Cost-Benefit Analysis of Services
(36:14) - Family Business Dynamics
(38:44) - Evolving Client Relationships
(40:14) - Advisory vs. Transactional Services
(41:28) - Making Strategic Business Changes
(46:16) - Final Thoughts and Encouragement
49 min

About Who's Really the BOSS?

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"Who's Really the BOSS?" highlights the joys and challenges of running a CPA firm with your spouse or family. From hiring and terminating to improving capacity, cash flow, and culture, our…