Brandon Hall, founder of a multi-million dollar accounting firm specializing in real estate, shares his insights on creating a new community for seven-figure accounting firms. He emphasizes the importance of evolving leadership skills and peer networking for growth. The conversation also highlights the benefits of offshore staffing and innovative tools like financial dashboards for efficiency. Brandon explores the challenges of engaging virtual communities and suggests a balance between online and in-person interactions for deeper connections in the industry.
Brandon highlights the necessity of evolving leadership skills as firms grow beyond $3 million in revenue to ensure successful scaling.
His new community for seven-figure firm owners aims to provide valuable management insights and foster collaboration, addressing existing gaps in accounting circles.
Deep dives
Building a Remote Accounting Firm
Brandon Hall reflects on his journey of establishing a fully remote accounting firm after leaving a traditional office environment at EY. He identified the limitations of conventional practices, such as rigid office hours and time tracking, motivating him to create a more flexible approach. Since launching in 2016, his firm has scaled impressively, projecting revenues around $12.2 million while maintaining a focus on organic growth through digital marketing. This model caters specifically to real estate investors, showcasing his belief that the accounting industry can adapt to more innovative and personal client service methods.
Recognizing the Need for a New Community
Brandon launched a community aimed at seven-figure firm owners, filling a significant gap he observed in existing accounting circles. Having felt undervalued in previous communities as he transitioned from $3 million to $5 million in revenue, he sought a platform that provides practical management insights rather than purely sales-focused strategies. His goal is to create a network that emphasizes practice management and leadership, which he sees as crucial for firms striving to overcome operational ceilings. Through this initiative, he aims to foster collaboration among peers facing similar challenges in scaling their businesses.
The Importance of Leadership Development
As firms grow, there comes a pivotal point where leadership skills must evolve, according to Brandon. He notes that firm owners often hit a wall at around $3 million in revenue, necessitating a shift from operational roles to strategic leadership. This evolution is crucial for successful scaling, as the skills that helped them reach that point are no longer sufficient for further growth. He encourages self-reflection and continuous learning to navigate the complexities of expansion, likening it to athletes reviewing game performance to improve.
Exploring External Resources and Alliances
Brandon discusses the value of looking beyond traditional industry resources for insights and growth strategies. While industry-specific alliances like BDO offer tax expertise, he warns of the limitations posed by internal groupthink that can stifle innovation. He advocates for engaging with external perspectives, yet recognizes the need for relevant context in discussions. Therefore, he envisions his community as a blend of insider knowledge with outsider perspectives, creating a rich environment for problem-solving and idea exchange among accounting firm leaders.
Check out Brandon’s weekly newsletter https://brandons-newsletter-bcbda5.beehiiv.com/ And apply to join Brandon’s new community 415 here https://docs.google.com/forms/d/e/1FAIpQLScFVNzR9lRytgGbLAcTpatof03GVxtGgwwMWkYlJ2fGOCr4aQ/viewform
🫠 Are you stuck in a legacy firm? Over 100 progressive firms are looking for accountants like you on Jason’s job placement platform: https://jason.careers/
🗣️ Continue the discussion on social! Twitter https://twitter.com/JStaatsCPA LinkedIn https://www.linkedin.com/in/jstaats/ YouTube https://www.youtube.com/@jasoncpa
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