031 Great KPIs…Time, Money, and Happiness (feat. Brannon Poe, CPA)

Episode #031

Brannon Poe, CPA | Founder Poe Group Advisors

Charleston, SC

2 working with toxic fathers and sons

***shout out to our sponsor TaxBandits***

7 how did you get started selling CPA practices

***shout out to Howard Holmes***

10 Scott philosophizes on being his own boss and letting go…

11 starting a business vs scaling a business

12 do you really want to let go of the work? there’s no shame in doing highly specialized quality work… basically, before you go changing everything, ask yourself do you want to scale or not?

13 a firm owner’s systematic approach to scaling

14 abdicating vs delegating

15 setting up a process for hiring

16 email management and breaking down a process to delegate emails

18 the steps to making a great process at the firm

19 what are the potential buyers looking for when purchasing an Accounting Firm?

20 what does freedom mean to you?

21 from finding and pricing really good clients to finding and keeping really good teams

22 fighting perfection in your firm and not holding yourself back

25 being buoyant and prepared to make another mistake and fighting our perfectionistic tendencies

26 the market is HOT for cloud based firms… cloud up!

27 in an industry fraught with money and inertia

29 explain how a CPA firm is valued

31 if you wanna buy a CPA firm SBA has some great 10-year acquisition loans

32 if you’re going to sell your practice in 3 years, what are the things you should do to increase the value of your firm?

34 small firms get focused, look at your service lines and profit margins… let’s all stop chasing top line only

35 the importance of getting the pricing figured out in your practice

***shout out to our sponsor Relay Financial***

39 so why did you start Accounting Practice Academy?

***shout out to accountingpracticeacademy.com***

40 how I wrote this: Accountant’s Flight Plan https://www.amazon.com/Accountants-Flight-Plan-Practices-Todays/dp/061538935X

43 launching Accounting Practice Academy at the height of the pandemic

***shout out to Ian Brennan***

45 we should be teaching our teams the bigger picture on how to run an accounting practice

46 you’ve given us a lot of advice here, sum it all up into one thing…

47 the Poe Prophesy… a diamond shaped firm

48 teaching Ackerman how to value his work and price it appropriately

***shout out to EO***

50 I don’t think we realize how many of our clients are operating in the dark… we need to spend more time helping them understand their numbers, more conversations with clients, and more client interaction… and charging appropriately for this highly valued work!

51 Brannon has a free book called The Unplugged Vacation go to www/accountingpracticeacademy.com/resources

…and shout out to the accountant's flight plan podcast… I don’t know why we didn’t talk about this once, on our podcast… maybe next time we have Brannon on