Accounting High 084 Perfecting the Pareto Profit Principle (feat. Damon Yudichak, CPA)
Episode 84 | Recorded May 16, 2022
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Today’s episode is sponsored by Justworks - visit justworks.com/partners
In this episode, we find out what Scott Scarano was like as an employee. Jason Ackerman’s usual drill in drilling out guests. Damon Yudichak, PFP, MBA, CPA’s journey from serving in the army to being an accountant and how he was able to keep his firm up despite doing it solo. He is another testament to the Profit First philosophy so be sure to keep your notes on how he was taking home the same amount of money as a 1.5M firm despite grossing just a fifth of that.
1 - What was Scott like as an employee?
3 - Damon’s journey toward accounting
6 - I think one of the great things about the accounting business is you've got this recurring revenue stream that you can build
12 - No employees even after running the firm for more than 10 years
17 - Selling my clients to get new ones
Shoutout to Mike Michalowicz, John Briggs
22 - A lot of people are good at making money, the challenge is keeping it
23 - 80% of your revenue will come from 20% of your customers: The Pareto Principle
31 - Damon’s tech tools for his practice
35 - Damon’s numbers, exposed
42 - Best advice to firm owners from Damon
46 - To all real estate agents out there, be sure to check out Damon’s Profit First for Real Estate Agents